Wow, my email from RIK got deleted. Let me take out the 1st paragraph. Lol. So if a mod could pin this please. It answers many questions...
As an example for your questions below: We never stated to have contracts in China. We received CPAM approval many years ago and started working with the Vancouver Commodities Group to identify potential distribution in China. We were never able to put together a deal that would have been beneficial to the company. We are continuing to work with other vendors and will announce any potential new distribution deals.
As for India, we had a contract with S. Zhaveri Pharmakem. They ordered a few times and we were able to legally sell the product in India through a homeopathic import license. The issue in that case was the company that acted as a middleman in the transaction. They primarily distribute American food products and condiments in India, but said that they could distribute our products as well. They started charging ridiculous management fees on the Indian side, which made our products too expensive for the market. We couldn't go around our contract with them at the time, so we halted the efforts in India until those contracts expired. We are now in talks with several new potential importers in India, but this process has been slow due to the COVID outbreak.
Now that we've been able to take back all of our products from outside vendors and distributors, we've been able to grow our online presence; expand our products into small-chain pharmacies and hospitals; and re-engage foreign distributors. Our goal this year is to roll into retail markets in the United States.
We'll be working on increasing revenues through product sales while we pursue our Multiple Sclerosis clinical platform and move our projects forward on Nerve Agent Countermeasures.
Lastly, we have been very clear that we are dedicated to transparency and to getting our financials current. While we would love this to be done faster, we are entirely dependent on our auditor's timelines; which have been slower than expected or promised. We expect the filings to continue coming out apace and will not stop until we are current.
I hope that this information is helpful,
Rik
