Replies to post #252 on Rich Pharmaceuticals Inc. (fka RCHA)

[Helter Skelter]

Thanks, stervc...looking at the filings...he's the only one there, here, in the US...? Can't find employee count in Q must be in K...him and another director...

Went to the website...very nice looking...hate it when they not only don't have pictures of the "about us" crew but they don't even have a description of who's Hu, lOl...

$6,426 total assets
$1,024,594 total liabilities
$0 revenues

Lost $517,827 last Q...looks overheated to me...gonna need to dig into that AS some...thanks for the reply...

[HDOGTX]

that the news today allows them to move forward with the next level of Phase II with the FDA.

Nice phone call, great info, thank you!!!

[tk2007]

OS is 662,810,384 from otcmarkets. they have only 1 drug in phase 2. Still at least couple of years away from market if the drug get final approval ( they will need phase 3 ... )

out-of-usa clinical trials are harder to get approved...by FDA

beware...

[PinkPennies]

RCHA thanks for sharing stervc ~ very nice

[Helter Skelter]

stervc... > Ben Chang is the one that raised the AS to 37.503 billion shares...then there's this nightmare situation...? Did you ask Ben about this? Thanks...

The inventor of the intellectual property which was assigned to Rich Pharmaceuticals, Inc. in July 2013 by Imagic, LLC and Richard L. Chang’s Holdings, LLC is presently in declaratory relief litigation with Biosuccess Biotech, Co. LTD. (“Biosuccess”), a company who was previously assigned licensing rights in the intellectual property. In connection with this litigation, on January 17, 2014, the Company received notice of a complaint filed by Biosuccess against the Company, Imagic, LLC, Richard L. Chang’s Holdings, LLC, and Ben Chang (our CEO and a director) in the United States District Court, Central District of California Western Division. The Complaint includes allegations of patent and copyright infringement, misappropriation of trade secrets, breach of fiduciary duty, unfair competition and other causes of actions against the Company, Imagic, LLC, Richard L. Chang’s Holdings, LLC, and Ben Chang. The Complaint seeks relief which includes compensatory damages, attorneys’ fees and costs, an award of treble damages, and such other relief as the court may deem just and proper.

The Company believes the allegations in the complaint are without merit and the Company intends to defend itself in the litigation. However, the Company may incur substantial expenses and the diversion of financial resources and management personnel in responding to the complaint. Additionally, an adverse determination against us in the litigation may subject us to significant liabilities or require us to seek licenses that may not be available from third parties on commercially favorable terms, if at all. Further, an adverse determination against us in the litigation may require us to pay substantial financial damages, which can be tripled if the infringement is deemed willful, or be required to discontinue or significantly delay development, marketing, selling and licensing of the Company’s affected products and intellectual property rights.