Cherry,
We know they read the board, at least at times, so they know our frustration. Other companies I've been involved in were no different, they knew investors were frustrated. What did they do? Nothing about our frustration, they just kept developing products and partnerships.
My point is that their are times when they know they need to issue PR's to be compliant with SEC guidance. They also know that if they issue something when nothing is required they could be in the SEC doghouse for hype.
That said, they frankly could have given us far more information had they chosen, and they could have done it without a single 8-K. How? By putting the trials they're running in the clinical trials database. Most companies don't say anything when they put a trial in the database, they often do it many months before the trial is scheduled to start. It's normally investors searching for information who find the trials in the database, and share the news with all who are watching the various investor websites on the net. Once investors know the trials are there, they occasionally check to see if anything has changed.
Once a trial has been put into the database, companies often change the status, first from not enrolling to recruiting, then initiated, then fully enrolled, etc. I.E. based on updates to the trials, investors can trace it's progress, and also trace any delays as revisions to the dates things are to happen also occur. All these things are done without a single 8-K. In addition, their is no doubt about how the trial is being run, or who is qualified to be in the trial, it's all specified. I know that OWCP may think that such disclosures may give their competitors information they don't wish them to have, but I'd suspect their competitor's know what they're doing through communication with those who are doing it. The only ones not getting the information are investors.
I know you're going to the Wall St. Conf. I strongly recommend that you press them to make their trials more public by putting them in the database and updating them. We know they can do it, they put the Phase 1 Trial for the cannabis cream there, but once they did, they never updated it. I know their excuse was, it's not being done in the U.S. but frankly it doesn't matter, you can find all sorts of trials being run in other countries there, and they are routinely updated.
If their is anyone benefiting from their actions, or lack of them, it could be institutions or other companies they're working with who like the low share price to purchase the shares of frustrated small investors as they put together partnerships, etc. I know companies like to keep the Institutions pleased with what they're doing, but their is a time when they need to please individual investors as well.
Gary
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