Replies to post #7431 on *******WATCHMEN*******

[Mean Weimaraner]

$OWCP ight bro. here in detail, is exactly where and what the $300,000 is for.
complete payment of OWC phase 1 trial of psoriasis.

Pursuant to the collaboration agreements, we are obliged to pay Sheba $300,000 throughout 2016 for conducting the psoriasis research, and $100,000 for the fibromyalgia research during the two years of the study. We currently have the financial resources to fund our obligations under these agreements, but anticipate that we will require additional funding during the next 12 months for our continuing and planned expanded operations

The Company will initiate the development of the topical cream by the end of the first quarter of 2016, at Emilia Cosmetics labs located in Yerucham, Israel. After the completion of the formulation development, expected to be during the second quarter of 2016, the Company will initiate a phase I study at the Sheba facilities to explore the effect of topical cream on psoriasis.

According to the terms of the agreement:
The funds will be allocated to complete the development of the Company's proprietary psoriasis cream;
Medmar will have exclusive right to manufacture, produce, publicize, promote and market OWC's Licensed Products in any state in the U.S;
The loan is non-interest bearing and will be repaid from royalties generated by the sale of OWC licensed products.

Mr. Weinstein went on to say, "We learned about OWC as they are one of only a handful of companies taking a true clinical approach to the research and development of medical cannabis, and this was important to us. Once we saw the preliminary results for their clinical studies, particularly in the field of psoriasis, we decided to make an investment and partner with them.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11569108

http://www.otcmarkets.com/stock/OWCP/news/OWC-Pharmaceutical-Research-Corp-Signs-Agreement-With-US-Partner-for-Funding-in-Advance-of-Future-Royalties?id=141678&b=y

[Mean Weimaraner]

owcp & mydx neck to neck what a sweet start to the week