Before I address the “drama” of shareholders who have lost their minds, I want to point out why I’ve remained confident and patient for End of Q3 and Start of Q4:
- May 31st – OWCP enters into a Strategic Relationship with Germany-based “mediq Innovation Experts. This is a company with an 11 year history in Germany. They help with: Market Entry Strategy, Clinical & Marketing Strategy, Business Development, and Long-Term Engagements — according to their own website.
- June 19th — OWCP Engages CannabisFN.com (CFN Media) to Cultivate New Investor Audience & Communicate with Current Shareholders. Now, obviously most folks seems to think this was a terrible thing because “they’ve made one video!” But, seriously, calm down. The contract is through mid-August. My own company has ‘engaged’ a marketing agency to help with things back in June and not everything is published for the public yet. So, unless you know FOR A FACT that CannabisFN.com hasn’t been working on content “behind the scenes” for later release, please, let’s stop bashing. Give it time. If it’s September and there still wasn’t any more released, let’s ask Management what they hell they paid for.
- June 27th — OWCP announces Market Readiness of Topical Cream and filed for a full patent in the United States. They filed for the official Full Patent now that the product is ‘Market Ready’ because they already told us they’ve had worldwide interest. They needed the ‘Patent Pending’ status to be fully protected before they spoke about the details of their formula. There’s no guarantee the Patent will be approved, but we all hope it will be since OWC was first to the game in this area.
- July 3rd — OWCP appoints Yossi Dagan as new CFO. Again, in NO WAY is this a bad move for the company and it’s shareholders. Yossi has far more experience than his predecessor. In fact, Yossi has served as CFO of Top Image Systems Ltd (NASDAQ: TISA), which is a global company with 220 employees. He also served as VP of Finance at Kenshoo, a global SaaS company with 600 employees, where he worked with a $100 million budget. The list goes on for Mr. Dagan. Again, this addition tells me OWCP is building a legit team and that they’re confident of what’s to come.
- July 10th — OWCP takes further actions to protect it’s Intellectual Property and files for Patent in Europe. Excellent. An increased chance of a Patent Approval. OWCP is obviously going to start its sales in Europe/Germany, so this makes as much sense as filing in the USA. Then again, they’ve worked with WIPO — which is the worldwide organization for patents. After all, this is a Global Economy.
- July 24th — OWCP Appoints Dr. Stanley Hirsch as Chairman of the Board of Directors. Dr. Hirsch has been the CEO of FuturaGene, a private company founded back in 2000. Dr. Hirsch has also been the Chairman of Foamix Pharmaceuticals (NASDAQ: FOMX), which has been around since 2003 and currently has a Market Cap of $209.5M, but Analysts say more like $400M. Obviously Foamix is no TEVA or Bayer, but, they’re also far from a ‘nobody’. Again, appointing somebody with a 28+ year Biotech resume cannot possibly be a bad thing.
Now, before I proceed with addressing shareholders emotions and panic — I want to be clear once again: I’m not trying to convince anybody to hold. If you really think OWCP is doomed, then sell. I really don’t want your money on my conscious. I have enough of my own money invested in OWCP to focus on. That being said…
I absolutely feel OWCP will rise again. It simply wouldn’t make any sense for them to NOT rise back over $1.00 minimum once continued progress & announcements are made. I’m personally very excited for September, as the Multiple Myeloma study was said to be complete by end of Quarter 3. If they have equally good results and file for FDA Orphan status — that should be huge. Obviously if it’s Granted, that will be monumental.
Look at CNBX and AXIM. Why are they still trading at a $172M and $444M Market Cap? I don’t consider them ‘ahead of OWCP’ in terms of progress. It seems pretty obvious that OWCP will have a product to market sooner. I really, really think OWCP’s Topical Cream offering is worth $1 BILLION once on the market. In months prior, I pointed out AstraZeneca’s Valeant product that was auctioned off for $445 million — even though it was linked to suicide. So, why would somebody pay $445M for that garbage and not $500M+ for a natural, clinically proven Topical Cream that showed up to 70% improvement. Especially considering that Topical Cream also can treat a list of other Skin Disorders & Conditions.
I continue to be baffled with shareholder reactions when OTC manipulation and panic selling takes place with OWCP. Of all the updates I just laid out, what has changed with OWCP that would indicate we were all lied to and are now screwed out of our money? Seriously. I know it sucks that I had 5X more money in my Scottrade account in February when OWCP ran to $3.23 for ‘no reason’ what-so-ever. CNBX had that same type of run, on the same day. They’re not dead. In fact, they’re starting to see some nice rallies back upward. (I strongly suspect it had to do with the Agrosphere ETF announcement, as both OWCP and CNBX were included on the list.)
OWCP is not in the business of baking cookies for a school fundraiser. They’ve participated in real studies and proved real results with a whoppin’ 70% improvement for Psoriasis related conditions. The product is now “Market Ready” — which is does NOT mean what most of us thought it meant.
Market Ready Confusion:
If you Google “Product is Market Ready”, you begin to realize that the term does NOT mean it’s ready to be delivered to stores for resale. Instead, it means the product is formally ready to the point of being able to look for distribution, wholesalers, and maybe the start of marketing. Never the less, back when we all thought “Market Ready” was “ready to sell in stores” — we didn’t realize that this Topical Cream was able to be used on various other skin conditions (Acne, Basal Cell Carcinoma, Atopic Dermatitis, and more). Apparently we then overlooked the fact that the Sublingual Tablet was already considered Market Ready, yet not being sold. This should have been the first sign that Market Ready didn’t mean “Sales Ready”.
So, let me ask you: Is it that big of a deal to have to “delay” the “Market Ready” by a month after finding out their Market Potential is likely (far more) than TWICE as big as it was originally thought to be?
Obviously in hindsight, we all wish we sold at $3.00+ so we could buy back in at $0.37. DUH. But, the next wish in line would be that OWCP never ran beyond $1.00 to begin with — then there would be far less panic and worry to begin with.
OWCP started 2017 off around $0.18 per share. Today after another “blood bath”, they closed at $0.42. That’s an increase of 133.3%.
The bottom line is, I really don’t mind getting the dozens of direct messages, e-mails, etc., but I have to admit — it’s really quite exhausting to repeat the same exact train of thought after every share price decline when nothing has negatively changed for this company. The list of updates above tell me progress is still being made and Q4 should be far more exciting than today is.
Decide for yourself. If you believed in OWCP back in January, then I don’t know why you lost that belief along the way. I really don’t see any negatives other than the confusion of the ‘Market Ready’ thing and seeing that delayed by a single month — but only after finding out they revealed it can be used to treat many more skin conditions & disorders.