10K page 3: and have made significant advancem

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and have made significant advancements in the development of a cannabis soluble tablet delivery system that could have applications for other indications.

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In April 2015, OWC engaged G.C. Group Ltd., an Israeli corporation specializing in pharmaceutical R&D to provide formulation development services for OWC’s new delivery system in the form of a cannabis soluble tablet. We see a soluble tablet as providing a superior method of delivery, allowing physicians and researchers to better control the dosage amounts. We believe that the most common usage/delivery methods of medical cannabis in practice today (smoking or
ingesting edibles or oil extracts) do not provide an adequate means of dosage control. G.C. Group Ltd. successfully completed the first phase of development, a proof of concept (the R=Research phase) of the desired end-product (the soluble tablet) to test the fabric, durability, solidification and other features of the cannabis soluble tablet.  . The agreement was terminated on December 31, 2015. However, the Company plans to continue the development process. The Company started developing other delivery systems, designed for different indications, during the first quarter of 2016.

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