From:Stanley Hirsch Date: Mon 04/03/2019 8:31 AM
Post# of 15624
(Total Views: 538)
Posted On: 03/19/2019 11:24:21 AM
From:Stanley Hirsch [stanley.hirsch@owcpharma.com]
Date: Mon 04/03/2019 8:31 AM
To: Howyk; Mordechai Bignitz; Miri Chen
Dear Howard,
We were very happy to welcome you to view the company and to meet our team. We invested a great deal of time to show you that the work we are doing is strategically guided and well executed. I hoped that this would have also convinced you of the capability of the management team.
I am sure that you understand that we could not share with you confidential business plans. We are fully aware of the capital requirements in order to fulfill our plans. I hope that you were convinced that the team you met understands what is required in order to raise the necessary capital. Without divulging more than what we have announced in public, I can only say that we are going about this in an organized fashion. Management has to focus on what it believes can bring the highest return. We value shareholders bringing us suggestions, but I am sure that you understand that we cannot simply diverge from processes that we are developing and move after every proposal, no matter how serious.
We have announced a potential reverse split, but we have not put a definitive proposal to the shareholders yet. We have made this proposal as we believe that this is a sensible move in the rebuilding of the capital structure of the company. In the end, the company belongs to the shareholders. Management can put down plans. Shareholders can accept or reject these plans. If management does not get acceptance for a plan of action that they believe is important to the company and which shareholders believe is the wrong plan, then ultimately, conclusions need to be drawn by both groups.
No-one is asking anyone to write “blank cheques”. We have spent the last two years building a strong team, re-defining strategy and executing, step-by-step on this strategy. I do not need to remind you that certain external issues, unrelated to present management and its actions, caused serious harm to the value of the company at a critical time. Under the circumstances, management found the means to raise life-saving capital and to keep the company moving forward. We continue to adhere to the seriousness of our mission and all our actions are guided by this process.
I hope that we can enjoy your support as we move forward.
Best regards,
Stanley Hirsch for OWC Management
Date: Mon 04/03/2019 8:31 AM
To: Howyk; Mordechai Bignitz; Miri Chen
Dear Howard,
We were very happy to welcome you to view the company and to meet our team. We invested a great deal of time to show you that the work we are doing is strategically guided and well executed. I hoped that this would have also convinced you of the capability of the management team.
I am sure that you understand that we could not share with you confidential business plans. We are fully aware of the capital requirements in order to fulfill our plans. I hope that you were convinced that the team you met understands what is required in order to raise the necessary capital. Without divulging more than what we have announced in public, I can only say that we are going about this in an organized fashion. Management has to focus on what it believes can bring the highest return. We value shareholders bringing us suggestions, but I am sure that you understand that we cannot simply diverge from processes that we are developing and move after every proposal, no matter how serious.
We have announced a potential reverse split, but we have not put a definitive proposal to the shareholders yet. We have made this proposal as we believe that this is a sensible move in the rebuilding of the capital structure of the company. In the end, the company belongs to the shareholders. Management can put down plans. Shareholders can accept or reject these plans. If management does not get acceptance for a plan of action that they believe is important to the company and which shareholders believe is the wrong plan, then ultimately, conclusions need to be drawn by both groups.
No-one is asking anyone to write “blank cheques”. We have spent the last two years building a strong team, re-defining strategy and executing, step-by-step on this strategy. I do not need to remind you that certain external issues, unrelated to present management and its actions, caused serious harm to the value of the company at a critical time. Under the circumstances, management found the means to raise life-saving capital and to keep the company moving forward. We continue to adhere to the seriousness of our mission and all our actions are guided by this process.
I hope that we can enjoy your support as we move forward.
Best regards,
Stanley Hirsch for OWC Management
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