I have 700 shares left after they screwed all the investors with the reverse split. This is an obvious empty shell company that has been trading over the last 10 years under multiple different tickers/ management teams, and will continue to trade as long as the person they pay to keep the SEC paperwork updated continues doing what they are payed to do. the idea that this is an actual "company" is the scam. it is clearly just a marketing company capitalizing on "trending buzzwords" to lure unsuspecting naive investors into "losing their investment dollars in hopes of being in on the next big thing". There is no actual product or revenue stream capable of paying the cost of running business (rent/payroll). So no, I don't see this "company" in existence in the next few years. will it continue to trade? maybe, as long as the mm's continue to trade back and forth to each other creating the illusion of volume and liquidity, I'm sure naive hopefuls will fall into their trap. The insiders will continue to liquidate shares from the auth as long as they can which will dilute it further and further into worthlessness, to pay their salaries.
As far as psychedelics in general are concerned, a normal person can setup their own personal psilocybe cubensis grow system for less than 100$ that will produce endlessly with minimal effort. Therefore I don't believe that psychedelics will be a huge revenue potential for any company, at best if medical legalization ever happens, shrooms will show up in already functioning cannabis dispensaries for people too busy or too lazy to just grow their own. that plus the fact that they are not habit forming, and in fact help people overcome their bad habits, adds to not such a lucrative situation for businesses.
So to sum it up, any company pr distributed by this "company" or any other that has them claiming to be on the forefront of psychedelic research, is more than likely just another buzzword capitalization marketing scam, designed to pull in investment funding dollars, and deliver nothing but business losses and reduced share values in return.
Be very careful investing in otc stocks I'm sure 99% of the otc stocks are just scams that do exactly this situation (deplete the auth, r/s, change names and start over). As far as doing good DD, make sure that any company you invest into has an actual product that you would be interested in buying. The people who do the paperwork can make the financials look however they want them to look, and can keep current even if the "company" is circling the drain. If you decide to jump in on any otc stock, wait for a significant drop, and be ready to short, same day or within that week... longs in the otc market always lose...
best of luck.... TranscendSelf~
