Is Hirsch to lazy to write 2 messages to shareholders a year. I think not. I believe the entire management team at OWCP has made a decision to keep investors in the dark until some specific events occur. They make the required releases, quarterlies, announcing key events, like patents or trial related plans, but the guidelines for the future that we were told would be semi-annually be release by Dr. Hirsch have not been forthcoming.
I wish I could say why not, I certainly can't, but it should be clear the company is moving forward in the manner that it can. I can think of one possibility that would prevent such an update, they're in negotiations of either a partnership, or buyout. While after this much time it seems unlikely, but in another company I'm aware that discussions were ongoing for roughly 2 years before the partnership was finally consummated.
If by chance this were the case, and if an update letter was sent out, it wouldn't be truthful if it failed to state that discussions were underway, but making such a statement would probably violate a confidentiality agreement specified by both parties. It would be a Catch 22 situation that could only be resolved by saying nothing.
I have no idea that this is the case, but I do believe the company is waiting for some key event to do such a release and until it finally happens, nothing new is being said. Look for an annual report sometime late next month, if they take all the time allotted them. Certainly an annual report should provide some future guidance, I just don't know how much they'll say, or if they're muzzled by something that's in negotiations. Of course much the same can be said about patents, they're in negotiations until either they're issued, or the company abandons the effort on one or more of them. I cannot say if the company has completely given up on any of their patents.
Gary
