OWC Pharmaceutical Research Corp (OWCP)

[Traderbx]

Can someone please help me with following explanation of OWCP 10Q:

"During the period, the engagement of the Subsidiary’s CEO was terminated and the CFO resigned. "

Does above mean OWCP CEO and CFO were just replaced in past 6 months?

"Received an IRB approval for a Phase I, double blind, randomized, placebo controlled, multiple escalating dose study to determine the safety, tolerability and pharmacokinetic profile of medical grade cannabis in healthy volunteers." This is regarding psoriasis

Does above mean, that phase 2 and 3 will follow phase 1? If so, psoriasis can take 3-5 years to hit market or even more...