Replies to post #100695 on OWC Pharmaceutical Research Corp (OWCP)

[mariosmack]

If by professional fees you mean CORRUPT administrative fees, then yes:

all the fees paid to Sheba is under the professional fees item. All the efforts of Dr. Baruch are under the professional fees item

This is exactly my point. A company never claims to spend less on Research & Development than it really does. R&D spending is what investors are looking for. Any money that goes under administrative fees is not contributing to research and development of the company.

The money that Baruch is earning is for nothing. He is pocketing his portion of the money, as are all other execs. That begs the question,

Q. what is his purpose if he isn't doing anything?
A. he is there just to pump up OWC and attract investors, who are the ones paying all the salaries.

Q. How can that be? Baruch has such a great resume.
A. Baruch is a full time employee elsewhere and he is doing a lot of work. OWCP is a side job for him.

Q. How does baruch have time for a side job?
A. He’s not doing any extra work for OWCP that he isn’t doing for others or himself. It is overlap and he is basically getting paid just so that OWC can use his name for pumping purposes.

[I-Glow]

R&D wouldn't be listed under Professional Fees.

You do know understand that in the 10-k the Professional Fees included "Stock Based Compensation".

So how exactly is stock based compensation going to be used for R&D with Sheba.

If OWCP used Professional Fees for R&D they aren't GAAP compliant. Especially when they are stock based compensation.

The argument for Provisional Fees as R&D is weak and without merit.

IG