OWC Pharmaceutical Research Corp (OWCP)

[mariosmack]

The 10-Q is a complete and absolute disaster. OWCP still does not have a shred of revenue, from the 10-Q:

Results of Operations during the six months ended June 30, 2017 as compared to the six months ended June 30, 2016

We have not generated any revenue during the six months ended June 30, 2017 and 2016. We have operating expenses related to general and administrative expenses and research and development. During the six months ended June 30, 2017, we incurred a net loss of $1,880,494 due to general and administrative expenses of $1,632,937, research and development expenses of $245,962 and financial expenses of $1,595 compared to a net loss of $488,118 due to general and administrative expenses of $306,022 and research and development expenses of $71,819.

What bothers me greatly is the following line:

Our general and administrative expenses increased by $1,326,915 during the six months ended June 30, 2017 compared to the same period in the prior year. This increase of 433% is primarily the result of increase in stock-based compensation and amortization of services receivable. The charge relating to stock-based compensation expense was $768,936 and for amortization for services receivable $498,986 for the six months ended June 30, 2017, compared to $8,074 and $0 respectively for the six months ended June 30, 2016.

Stock-based compensation means dilution. They have no revenue, so they have to dilute the stock to pay up. What is written in the 10-Q is not any kind of speculation. It is the fact and it is the hard truth.