OWCP Update from 10-K: Received by email from Jeff Smurlick.
ANNUAL REPORT CLARIFICATION FOR SHAREHOLDERS:
1)
Page 5: Don't get confused by the OWCP already done Psoriasis study (where efficacy results are imminent) and next deeper and extended studies planned from April: "On February 1, 2017, following the very encouraging results that have been achieved at the mid-point of the Study, the Company determined to extend the size and scope of the Study for the purpose, among other things, of checking the biological markers that have been generated to date with respect to the treatment of psoriasis (proliferation/ inhibition and several interleukins). Despite extending its size and scope of the Study, the Registrant expects to compete the Study during the 2 nd or 3 rd quarters of 2017."
The study already done is confirmed in page 36:
"We have been conducting a study on the efficacy of the cannabinoid-based topical cream for the treatment of skin conditions generally and psoriasis specifically, which commenced in November, 2016 "
While the extended study to start in April 2017 according to previous 8K is the safety phase and identification of biological markers useful to identify potential other application of the cream (Skin Cancer imo):
"We started safety phase at the hospital by this month, April 2017, and already planning a unique multi-center efficacy study. This is the natural development of the next generation of safe and tested cannabinoids treatments"
2)
Page 5-6: Multiple Myeloma Amazing News for Shareholders is here:
"Dr. Leiba led our in vitro studies on the effect of a formulation comprised of Cannabidiol (CBD) and tetrahydrocannabinol (THC) on multiple myeloma cells studied outside their normal biological context. The results indicated a 100% mortality rate of myeloma cells in 80% of the cultured cells within a 24 to 48-hour period, and highlight the potential abilities of cannabis oil extract to fight multiple myeloma cancer cells We believe that the results of this study indicate a potential to develop a more effective treatment for multiple myeloma than standard therapies."
"Expect to submit a clinical trial protocol to the Israeli Institutional Review Board and received its approval to commence a clinical study"
"Intend to commence a clinical study in the third quarter of 2017"
3)
Notes on competition page 7: For Psoriasis they aim to attack Big Pharma market and they are well aware of current products and thier limitation:
"The current common treatments for psoriasis include topical and systemic drugs, steroids, immunosuppressive drugs such as Cyclosporine A (by Novartis), methotrexate or MTX and biological drugs such as Enbrel (by Amgen), Amevive (by Biogen but whose patent expired in 2013) and Ustakinumabn (by Janssen Immunology)." This is excelent Marketing strategic approach;
4)
Page 8: Provisional Patents are listed in report, can be downloaded through reference number and are real! They are extremely well written in a professional way and full of interesting claims: when needed (close to deadline) they will pay the service fees and transform them in Official US Permanent Patent; Why to do it before if the provisional is free of charge? Smart approach;
5)
Page 12: CERTIFICATION and FDA approval all diligently work has been done according to standard: "
Israel’s Ministry of Health, which regulates medical testing, has adopted protocols that correspond, generally, to those of the FDA and the EMA, making it comparatively straightforward for studies conducted in Israel to satisfy FDA and the European Medicines Agency requirements, thereby enabling medical technologies subjected to clinical trials in Israel to reach U.S. and EU commercial markets in an expedited fashion. Many members of Israel’s medical community have earned international prestige in their chosen fields of expertise and routinely collaborate, teach and lecture at leading medical centers throughout the world. Israel also has free trade agreements with the United States and the European Union."
6)
Financial page 47: OWCP company costs are low, 2M$/year despite improvements on multiple studies e.g. Psoriasis efficacy results announced in previous 8K;
7) Annual report page 46: Dilution is not an issues, AS stable at 500M and OS~140M, OWCP is a LOW FLOAT: Confirmed Financing few Million dollars needed for 2017 will be just a sale of few millions shares, therefore FEW PERCENT OF CURRENT OS: NO or NEGLIGEBLE DILUTION;Financing for 2017 is therefore not an issue;
Page 66: Subsequent Event: even in 2017 in the quarter not covered in the report and in the past two weeks (also when the price reached 3$) the Company didn't start dilution and sales of massive quantity of shares: ~1.7M$ sold to cover operation and expansion: Good Faith of the company working for MEdicine and Science and not for Money;
ANNUAL REPORT CLARIFICATION FOR SHAREHOLDERS:
1)
Page 5: Don't get confused by the OWCP already done Psoriasis study (where efficacy results are imminent) and next deeper and extended studies planned from April: "On February 1, 2017, following the very encouraging results that have been achieved at the mid-point of the Study, the Company determined to extend the size and scope of the Study for the purpose, among other things, of checking the biological markers that have been generated to date with respect to the treatment of psoriasis (proliferation/ inhibition and several interleukins). Despite extending its size and scope of the Study, the Registrant expects to compete the Study during the 2 nd or 3 rd quarters of 2017."
The study already done is confirmed in page 36:
"We have been conducting a study on the efficacy of the cannabinoid-based topical cream for the treatment of skin conditions generally and psoriasis specifically, which commenced in November, 2016 "
While the extended study to start in April 2017 according to previous 8K is the safety phase and identification of biological markers useful to identify potential other application of the cream (Skin Cancer imo):
"We started safety phase at the hospital by this month, April 2017, and already planning a unique multi-center efficacy study. This is the natural development of the next generation of safe and tested cannabinoids treatments"
2)
Page 5-6: Multiple Myeloma Amazing News for Shareholders is here:
"Dr. Leiba led our in vitro studies on the effect of a formulation comprised of Cannabidiol (CBD) and tetrahydrocannabinol (THC) on multiple myeloma cells studied outside their normal biological context. The results indicated a 100% mortality rate of myeloma cells in 80% of the cultured cells within a 24 to 48-hour period, and highlight the potential abilities of cannabis oil extract to fight multiple myeloma cancer cells We believe that the results of this study indicate a potential to develop a more effective treatment for multiple myeloma than standard therapies."
"Expect to submit a clinical trial protocol to the Israeli Institutional Review Board and received its approval to commence a clinical study"
"Intend to commence a clinical study in the third quarter of 2017"
3)
Notes on competition page 7: For Psoriasis they aim to attack Big Pharma market and they are well aware of current products and thier limitation:
"The current common treatments for psoriasis include topical and systemic drugs, steroids, immunosuppressive drugs such as Cyclosporine A (by Novartis), methotrexate or MTX and biological drugs such as Enbrel (by Amgen), Amevive (by Biogen but whose patent expired in 2013) and Ustakinumabn (by Janssen Immunology)." This is excelent Marketing strategic approach;
4)
Page 8: Provisional Patents are listed in report, can be downloaded through reference number and are real! They are extremely well written in a professional way and full of interesting claims: when needed (close to deadline) they will pay the service fees and transform them in Official US Permanent Patent; Why to do it before if the provisional is free of charge? Smart approach;
5)
Page 12: CERTIFICATION and FDA approval all diligently work has been done according to standard: "
Israel’s Ministry of Health, which regulates medical testing, has adopted protocols that correspond, generally, to those of the FDA and the EMA, making it comparatively straightforward for studies conducted in Israel to satisfy FDA and the European Medicines Agency requirements, thereby enabling medical technologies subjected to clinical trials in Israel to reach U.S. and EU commercial markets in an expedited fashion. Many members of Israel’s medical community have earned international prestige in their chosen fields of expertise and routinely collaborate, teach and lecture at leading medical centers throughout the world. Israel also has free trade agreements with the United States and the European Union."
6)
Financial page 47: OWCP company costs are low, 2M$/year despite improvements on multiple studies e.g. Psoriasis efficacy results announced in previous 8K;
7) Annual report page 46: Dilution is not an issues, AS stable at 500M and OS~140M, OWCP is a LOW FLOAT: Confirmed Financing few Million dollars needed for 2017 will be just a sale of few millions shares, therefore FEW PERCENT OF CURRENT OS: NO or NEGLIGEBLE DILUTION;Financing for 2017 is therefore not an issue;
Page 66: Subsequent Event: even in 2017 in the quarter not covered in the report and in the past two weeks (also when the price reached 3$) the Company didn't start dilution and sales of massive quantity of shares: ~1.7M$ sold to cover operation and expansion: Good Faith of the company working for MEdicine and Science and not for Money;
6
