OWC Pharmaceutical Research Corp (OWCP)

[skitahoe]

What was missing from yesterday's annual report was all the information that I and many others have been pushing for, I.E. discussion of where we are, and where we're going. Hirsch has said we'd have many positive things happening this year, but the annual report essentially ignored even discussing it, while it really was a statement that needed further support.

I'll agree with some who say it's essentially a normal annual report, in part, but I really don't believe that most annual reports ignore the current year and beyond which essentially this one did.

If in reality they do not plan to market product until it has Govt. approval as a drug, the corporate presentation needs a major revision. Note, I indicated Govt. not FDA because I don't know the agency name of the Govt. entity in Israel, Germany, and other countries where our drugs may be up for approval first. I know that our FDA will need to be included eventually for U.S. approval, but the cost is high in running trials here and I don't know that they intend to do that without revenue being established elsewhere.

As most of you know, I have other investments in cannabis based companies. Some of them have products similar to what OWCP has in development which are planned to be in the market shortly, or are currently there in some locations. I believe they've done some testing to show they're safe, and even some examples of efficacy, but nothing like the drug trials needed for drug approval. A cannabis cream intended for use on scars may not be as effective on psoriasis as our cream, but I suspect that if it's tried, some benefit will be seen. Likewise, our cream may work well in promoting scars to heal. My point is that products can be brought to market the way OWCP originally told us they would, I don't know why they're appearing to be changing direction now.

I do believe that once our patents are granted it may be found that some companies may be in violation of them. The question is, just how specific are the patents as to formulation of the product. I don't believe that every product with cannabis in a cream violates our patent, but on the other hand, I don't believe the formulation of the cream must be identical to ours to be in violation, but likewise it cannot get away with a minor difference in the formulation. Once granted, I expect that we'll collect some money for products with similar formulations, but most that are routinely building sales will pay for the rights to utilize our patents and continue to make their products.

Gary