Many factors point towards a red flag:
1) This company is based overseas, and conducts research overseas, meaning there are very few ways to monitor their progress when it comes to their claims.
2) This is still a pennystock, while some might be tempted to take risks, the slightest mistake by the company will cause investors to lose all their money, rapidly.
3) If the pharmaceutical research fails, the owners could dump their shares knowing they cannot profit further from this venture , causing investors to lose their money.
4) The only product they got going for them is a skin cream, and this has very little impact of the market as it is.
I see people pumping thousands into this stock hoping for an easy pay day, don't do it. Wait until it dips and take the risk on a smaller scale, if it goes up, average up and rack in the money. Is this a pump and dump ? Judging from the company's audited statements, probably not, however they are walking on thin ice here, so don't jump into the hype.
So what now ?
I would expect a lot of sellers on tuesday, since the people who got in for short term profit will want to secure their funds. On a long term scale, i could see this stock having a potential to go up even further. However, tread carefully, march is a big month for OWCP and the research results will decide wether this stock is destined to be a pennystock for ever or a money tree for investors who got in early. We shall see how this develops.
My early position on this stock was accompanied with skepticism (And a lot of criticism from the fans of the company), but after the stock broke the 0.80 barrier, i believe it has the potential to defy the odds and go past 1.00$ before late march.
I will investigate further on the company and post updates for the investors if i find any relevant intel that could indicate a rise or decrease of the stock price.
Hold your position as it is, do not sell, do not buy more.
PS: To the self-righteous pseudo-traders out here resorting to insults on every single idea different than theirs instead of justifying their position, grow up and go back to reddit's wallstreetbets.
2) Yeah, they're at $0.69 right now. They have a fair share structure compared to other MMJ stocks that have run high without revenue/profit. There's certainly risk in everything, but if you read through the DD -- there's a lot more potential for REWARD here than 99% of "pennystocks". This is also OTC QB vs. OTC Pink Sheets -- so that's an upgrade as well.
3) If the research fails? Thankfully the 8K's have all indicated success so far. Their IRB approval was big and they moved forward to studies at the largest hospital in Israel, where an 8K announced "encouraging results" which lead to increasing the size and scope of the study. Then they add two Advisor Board Members -- one who specializes in FDA approvals and one who has been a Dermatologist for 15+ years. I think that all points to POSITIVE updates coming.
4) Skin Cream is the ONLY product going for them? You must have missed the memo about the Sublingual Soluble Tablet... The product that will be able to treat PTSD, Fibromyalgia, Migraines, etc. What about the Multiple Myeloma product that in early studies/testing has yielded good results so far on mice? Yeah, early stages, but those updates were last year too. Psoriasis isn't a tiny market. AstraZeneca sold off their TROUBLED drug, which was linked to SUICIDE as a side effect, for $445 MILLION... So, when OWCP releases a Natural Cannabis-based product that doesn't make you want to kill yourself... Tell me why that product can't have a value that exceeds $500M -- to be Conservative.
The thing is, the company has made A LOT of legit progress since February to where a JUSTIFIED run back into Dollars should occur -- maybe by End of Year.