OWC Pharmaceutical Research Corp (OWCP)

[mariosmack]

Agreed. No need to buy above .30 at all. It seems that OWCP finally told us a little bit about their expenditures, but there are still a few unanswered questions.

From the 10-Q:

We have not generated any revenue during the three months ended June 30, 2017 and 2016. We have operating expenses related to general and administrative expenses and research and development. During the three months ended June 30, 2017, we incurred a net loss of $445,126 due to general and administrative expenses of $231,585, research and development expenses of $211,946 and financial expenses of $1,595 compared to a net loss of $173,730 due to general and administrative expenses of $84,466 and research and development expenses of $34,776.

Our general and administrative expenses increased by $147,119 during the three months ended June 30, 2017 as compared to the same period in the prior year. This increase of 174% is primarily the result of increase in legal, payroll and consultancy expenses. Our research and development expenses increased to $211,946 during the three months ended June 30, 2017, compared to $34,776 during the same period in the prior year. The increase by $177,170 or 509% was primarily due to increase payments related to our collaboration agreements, consultancy and patent applications.

As for the administrative expenses, they did not tell us how much in each category, so I'm guessing that most of the expenditures are in the "payroll" column. Obviously, since the only employees are the owners and execs, payroll means pocketed money.

They spent nothing on actual lab work, which is why most of R&D is spent on doomed patent applications and phony "collaboration agreements". Obviously, they are paying Sheba and the rest just so they can put the OWCP brand name on the work.