I felt it was time for an update as to “where I stand” since I’ve had dozens of messages (e-mail, Twitter, InvestorsHangout.com, etc.) over the past week or two asking my thoughts on OWCP now that it’s November and we haven’t heard since the Chairman Update Letter on September 13th. I’ve been a lot more silent over the last month because I’ve been working on a lot of things outside the stock market. But also, I have reminded my readers time and time again about the blog I wrote back in early February talking about why I was holding for developments, not a particular share price or specific time. Because again, this is a new, emerging market coming off prohibition and Marijuana is becoming more and more legal across the globe. After doing my own due diligence, I decided I wasn’t going to worry about flipping OWCP shares.

Obviously I realize “in hindsight” I could have sold for $2.50 – $3.00+ on February 22nd and bought again in September at $0.25, but I don’t think there’s anybody on the planet that was able to take advantage of that perfect timing and insight. Many of respected day traders I follow who had OWCP from $0.005 – $0.01 said they sold at $0.03 – $0.05. Obviously these are great returns, but “in hindsight” they could have held for a few months and had SIGNIFICANTLY more. Unless you consistently earn $500,000 – $1 million a year from trading and investing, I likely don’t care for your criticism. Consider saving your opinion and judgement for when it’s all over and done with. 🙂

Fact of the matter is, I’ve had a busy ‘day job’ since I sold my business in early February 2017 and became a contracted employee who feels he owes it to his (new) employer to kick ass. I simply can’t do the “day trading” thing, so I wasn’t going to worry about the ups and downs before the “real big news” came. This is the OTC, after all. But, I genuinely feel comfortable with OWCP because of the the various things I’ve read in the various 8Ks and PRs.

Do I hate the silence we’ve had lately? Yeah, for the most part. Obviously I want to hear about progress on negotiations and wish I knew how many days/weeks are left before they are listed on a Canadian exchange. But, having been in business for 16+ years and then going back and forth in negotiations to sell my own business — I’ve learned that things take time and it’s not official until the contracts are signed. Hell, I was back and forth with a different company for a year before I gave up on them and talked to the guys that ended up acquiring my business — within months of our first meeting.

Dr. Stanley Hirsch had a nice update letter to shareholders that I’ve actually read a couple more times during the month of October. Lots of reminders in there that kept me calm and patient during the silence. I really think of it as a roadmap of what’s to come.

So, for me, it boils down to this: Would Yossi Dagan (new CFO) and Dr. Stanley Hirsch (new Chairman), both from much bigger NASDAQ traded companies, come onboard with OWCP and blatantly lie about the progress (creame is now ‘market ready’) and research success to-date (up to 70% improvement, possible breakthrough)? After all, with the repeated claims in SEC Filings, I assume they would face jail time for fraud if the Topical Cream didn’t come close to reality.

Decide: Either these guys blatantly lied or things are just taking longer than shareholders (and bashers) realized it would take.

I feel it’s important to point out that I’m confident NONE of the bashers or nervous shareholders are BioPharma experts whatsoever. Not to mention, this is Marijuana — a brand new industry that has no global standard on regulations. Hell, the United States doesn’t even have standards between the dozens of different states that legalized Marijuana for medical. This is a highly complex industry as of November 2017.

So, yes, I’m choosing to believe deals & negotiations are in the works, like the 8Ks stated. I’m choosing to believe they’re getting close to the Canadian cross-listing and that maybe, juuust maybe some other (possibly juicy) things will be announced after that. However, you must decide this for yourself, obviously. I simply encourage nervous shareholders to re-read the Chairman Update Letter and decide if they think it’s worth owning shares when those updates (and Topical Cream sales) start being announced.

I’ll wait for the updates to start rolling out, but at this point, I’ve honestly already told myself that I’m likely not selling anything until sometime into 2018 now — for the same reasoning from the February blog. I’m hoping to hear about a Sales Timeline before then. At that point I may form a decision on when to start taking some profits — which are now taxed at Capital Gains rates, mind you. (Most of my shares were bought in October & November 2016 and then I added in February and here and there after that.)

So, there you have it. I’m still in, I’m still holding, I’m (surprisingly) able to remain patient. Honestly, I was far more angry back when we saw $0.20 on 10/25/16 and then a retrace back under $0.10 by 11/4/16.

P.S. When I decided to stay off iHub, my stress levels were greatly reduced. Unfortunately I have many friends & stock market acquaintances who message me to tell me about the latest stupidity from iHub bashers. 🙂