Replies to post #105994 on OWC Pharmaceutical Research Corp (OWCP)

[Hoya Saxa]

Have you read any of the filings? The drop to sub-penny never should have happened, but it presented some of us with a great opportunity.

The Company has filed an action for alleged legal malpractice against the NYC law firm of Sichenzia Ross Ference Kesner LLP and Marc J. Ross, Esq. a partner at Sichenzia Ross (collectively the “Defendants”) in New York State Supreme Court, New York County. Our claims arise out of legal services allegedly negligently performed by the Defendants related to the: (i) filing of a registration statement on Form S-1; (ii) the withdrawal of the S-1; (iii) delayed filing of a second S-1; and (iv) related contracts and a convertible note instrument that resulted in OWCP suffering damages in excess of $2 million in equity and the issuance of approximately 35 million shares upon conversion of a note without any consideration or benefit to OWCP. We brought the action seeking recovery of monetary damages noted above due to the defendants’ alleged failure to exercise a professional standard of care in their representation of OWCP. The action is now in the pleading stages. Reference is made to our Form 8-K filed with the SEC on November 30, 2016, and specifically to the details contained in our attorney’s demand letter to Sichenzia Ross and Mr. Ross prior to the commencement of the lawsuit.

[moxa1]

Why? We've made a lot of progress since. Potential multi billion dollar markets for us in less than a year.