OWCP filed a Form 8-K today (June 24th, 2020) announcing that Mr. Riterband has resigned and Ziv Turner, one of the original One World Cannabis founders is back as CEO.
Some may think of this as unsettling because of the legal stuff that happened after Ziv’s original departure. But, Ziv went after the now former management and WON. So, perhaps he was wrongfully terminated? Besides, I don’t know any shareholders who think Moti and Dr. Hirsch executed very well.
Though, to the defense of Moti and Dr. Hirsch — they did finish some key trials and moved towards getting an official USA Patent GRANTED. Many of us, who are far from biotech / pharmaceutical experts, simply “think” progress could have come sooner. Many shareholders feel OWC could have executed on some partnerships to start generating revenue. I am one of those many. I understand wanting to achieve FDA Approval, but what would it hurt to strike a deal with a company to market your ‘clinically proven’ Psoriasis Cream via dispensaries and generate some revenue while you keep making progress towards FDA Approval? Again, I’m no pharmaceutical expert. Maybe that is a dumb move.
Either way. I’ve followed Ziv Turner on LinkedIn for at least 3 years and I’ve noticed he’s been hard at starting other cannabis companies — like Cannibble and KanaFem. (Just do a Google search for Cannibble or KanaFem — with or without the word Israel.)
Either way, you have an obvious situation of a serial cannabis entrepreneur who is striving to be a success. It’s my opinion that Mr. Turner has met a lot of potential partners/collaborators over the years and wanted to get back into OWCP to turn it into the monster he envisioned it could be back in 2014 – 2017.
This is all 100% my opinion and you’re more than welcome to disagree as much as you want. I wrote this blog after the 4th person sent me a PM asking my opinion.
I’m honestly a little excited to see what he has in store.
It’s OBVIOUS, by the way, that OWCP is in need of a minor R/S or increase of A/S. Without this, they cannot proceed with future investors / funding. I just hope Ziv and Amir (Chairman) don’t try to propose a 1:2,500 ratio like the last guys.
1:3 – 1:10 is a lot more acceptable and realistic, right?
Good luck to all. Trade/Invest safely. Do your own due diligence.