I’ve been relatively quiet about OWCP lately. Sure, I post about the news, but I haven’t offered much for due diligence or opinion lately. Honestly, I’ve just been content in waiting while I’ve been increasingly busy at ‘the day job’ as I help lead the way on our expansion. Back in February (2018), I decided I was going to do some ‘above and beyond’ style due diligence as a means of determining if OWCP was, in fact, the real deal like I’ve been lead to believe all along. But how? I don’t have the time and didn’t care to spend the money for a trip to Israel.
So, I decided I would start reaching out to established and known medical cannabis companies in Canada, California, etc. as well as manufacturers of skin care products and see if they would express interest in OWC. At least then I could go to the CEO, Mr. Bignitz, and tell him I know of a legit opportunity to get the Topical Cream into production in this approved state or country. I went into this expecting crickets, for the most part, because generally such a business proposition doesn’t come in via your “General Info” contact on your website. Never the less, I can accept that and still try. (“If you never ask the question, the answer is always no.”)
Important Note: This is all anecdotal evidence and in theory, I don’t want you to believe “everything you read on the Internet” because there’s definitely a lot of traders who are willing to lie & mislead to profit at your expense. The reason I went forward with this Blog was simply to teach a lesson in how YOU can go outside the box sometimes as a way of doing due diligence for YOUR OWN comfort. After all, if you can’t be comfortable with an investment decision — don’t do it. If you’re just trying to be a day trader, due diligence isn’t as important. So, while I “swear to you” this is all factual information and real findings — you don’t know me (personally), so always be cautious and always verify other people’s DD yourself. Unfortunately, what I’m presenting here isn’t as easy to verify because it was e-mail exchanges and I will not reveal who these individuals are or which company they’re with. Because, again, I’m NOT writing this blog to convince anybody to invest.
To start with, like I said above, I reached out to a handful of Medical Cannabis companies to tell them about OWC’s PRs about their patent-pending cream that had reduced Psoriasis markers by 70%, that it was market-ready, and they’re moving towards the FDA pathway, etc. I did NOT mention OWC in the initial e-mail because I wanted them to have enough curiosity to reply to me wanting more information — that way I could introduce them to OWC management myself.
One company out of eight replied to that e-mail. It was the Chief Strategy Officer (who also CC’d the Director of Operations & Legal Counsel) from a Canadian based, publicly traded company that not long ago (at that time) raised tens of millions of dollars in financing. To me, they were “the real deal”. I was excited.
In my first reply to both of them, I gave them quite a bit more details about the company, presented links to the WIPO.int PatentScope site to show the Intellectual Property was protected at the PCT level, I mentioned the new Chairman and a tidbit about his history and success with Foamix (and Bayer), and so on.
Ironically, the Director of Operations was set to go to Israel already in 2 weeks “to look into cannabis opportunities” so he was interested in meeting with OWC management if they could accommodate the timeline. I messaged all of OWC management and, for once, I got a response from Mr. Bignitz stating they would certainly like to visit with my lead. I provided the e-mail addresses and phone numbers for a couple of these individuals and the meeting took place in Israel.
A week later, I tried my luck at seeing “how it went” (stating I realize I cannot be informed of the possibility of deals) and the e-mail was response was this:
Happy to share information as nothing between us and OWC is ‘material’.
OWC probably has the most impressive team of any of the companies I’ve met so far. Not the most cannabis experience (though their cannabis expert may be one of the top few in the country) but the rest of Their team is very accomplished on drug formulation and monetization.
Their first product seems like to nearly done phase one clinical but not sure the length of time it took them to get there is especially impressive but I hope that’ll mean an extremely effective product rather than mismanagement.
Overall, very impressed and they are doing things right. 10/10 caliber team, pursuing the clinical path, and they appear to have experience bringing pharma products like those to market.
Cheers and thanks again for the intro
This response genuinely made me feel good about being patient and waiting for the trials to complete. Yes, that’s going to be a lot longer than I initially figured I would be holding onto my shares — but so be it. Still, as I’ve said before, in hindsight — I wish I knew more back in February 2017 to see through the lies of pumpers, consider the Market Value, and sell all my shares then. But, it was the ‘Marijuana Stock hype!’ combined with Biotech. I learned valuable (and expensive) lessons. Which, again, is why I feel the need to write blogs to help other beginners not believe the crazy hype and just learn to take profit on crazy runs. Because I wanted to truly invest in OWC for the long haul, I would have still bought back in after the stock price returned to “normal”.
In life, you either win or you learn.
About a month after the March 8th stock price decline, I decided I would reach out to a relatively bigger medical cannabis investor who I always saw Tweeting about GWPH (and occasionally others) to see if his group had interest in OWC since they reached ‘the new bottom’. His response, which I’ve combined to form a single line quote, was:
We are involved and believe. We’re large holders and doubled down at 0.22, so we’ll see. Waiting for trials.
So, again, I’m back to feeling confident and I haven’t stressed about my investment in the 3 months since. Sure, I would love to see the price climb back over $0.50 (and I do believe it will in due time – after more news of progress, especially with a sales announcement).
At the end of the day, this blog wasn’t written to inspire more buying because I’m looking to sell you my shares. Again, I really want you to be skeptical of what I’m writing because of the golden rule of investing — do your own due diligence and don’t believe most of what you read on the Internet, with the exception of legit sources (medical journals, patent websites, SEC documents, etc.).
My disclosure as always: I obviously have a position in OWCP and have since October 2016. In fact, I’ve added more around $0.23 since the March 8th decline as well and the stability of the stock price over the last two months tells me most of the shareholders are patient and holding.
Hell, even the recent $5M “Institutional Investor” (Discover Growth Fund) owned 7,776,784 shares prior to the offering. You can read that for yourself on Page 61 of the S-1. It’s my opinion (and hope) that this investor is also holding on for BIG money.
So, there you have it. I’m patient, but looking forward to progress and growth. I’m looking forward to study completions and product sales. I’m looking forward to tremendous realized profits.
Best of luck to each and every one of you in all your trading and investing. If you’re investing, do your own due diligence, never put all your eggs in one basket, and never invest more than you’re OK with losing.
P.S. I cancelled my iHub subscription and continue to avoid the ‘investor boards’. I don’t need the drama and negativity in my life and I don’t need to constantly defend my investment from the same lies every couple weeks. Life has been so much more peaceful without iHub. I know what I own and I’m comfortable with everything I’ve read/discovered on my own — but I still understand it comes with risk because there are always unknown factors.