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Home Cannabis/Psychedelics

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) Declined 14.13% After Reporting Second Quarter 2017 Earnings

by admin

August 21, 2017

in Cannabis/Psychedelics, Earnings

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) Declined 14.13% After Reporting Second Quarter 2017 Earnings

Cannabis Medical Research Israel Earnings

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) is engaged as an Israeli cannabis and medical research company. Shares of the medical testing company closed down 14.13%, during trading on Monday, August 21, 2017. Over the past month, OWC Pharmaceutical Research Corp. has seen average daily volume of 1.23 million shares. However, volume of 1.07 million shares or dollar volume of $338,120, exchanged hands during today’s trading.

Shares of OWC Pharmaceutical Research Corp. saw pressure today, after the company reported second quarter 2017 earnings results. The company reported no revenues and a net loss of $447,961 during the second quarter. On a six-month basis, the Israeli cannabis company reported no revenues and net losses exceeded $1.88 million. While OWC Pharmaceutical Research Corp. did not report any revenue during the same time last year, the company is seeing its expenses grow sharply compared to a year ago. On the other hand, the company lists total assets of $1.41 million, total liabilities of $175,619, and total stockholders’ equity of $1.24 million.

Ballooning expenses are even more noticeable when looking at the total results from the first six months, compared to last year. Through the end of June 2017, OWC Pharmaceutical Research Corp. has seen its net loss grow to a total of $1.88 million. This compares to a 6-month net loss of $488,118, during the same period last year. The company must continue to watch its expanding costs and expenses, which are only hitting the bottom line. There continues to be a lack of clarity on when the company can specifically start generating regular revenues, but there is no doubt a very strong and committed shareholder base for OWC Pharmaceutical Research Corp. out there.

Here is the link to the full 10-Q earnings report: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12244229