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OWC Pharmaceuticals Research Corporation (CE)

OWC Pharmaceuticals Research Corporation (CE) (OWCP)

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Closed March 29 04:00PM

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OWCP Discussion

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ChuckBits ChuckBits 2 weeks ago
This is the one question I asked my accountant 20+ years ago before I hired him:

What is the sum of 2 + 2?

His answer:
.
.
.
.
"Whatever you want it to be"
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I-Glow I-Glow 2 weeks ago
You forgot the Fair Fund established OWCP as a fraudulent operation. OWCP is on the Expert Market (the old Grey's).

"The IRS is basically saying what happened with OWCP does not qualify for ponzi scheme section C of the form. This is exactly what happened with OWCP but it was a spokesperson rather than and officer or director. I canโ€™t imagine the rules would change being itโ€™s a spokesperson who committed the fraud rather than an officer/director."

The IRS Tax Code isn't written in stone they are guidelines.

"The IRS is basically saying what happened with OWCP does not qualify for ponzi scheme section C of the form. This is exactly what happened with OWCP but it was a spokesperson rather than and officer or director. I canโ€™t imagine the rules would change being itโ€™s a spokesperson who committed the fraud rather than an officer/director."

I certainly appreciate your input - and we will see what happens.

IG
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I-Glow I-Glow 2 weeks ago
The IRS Codes are not laws they are open to interpretation - there are many gray areas that clever Accountants can exploit.

My first accountant told me it wasn't how much you make but how much you keep.

I believe if anyone loses money in a Ponzi scheme or any type of fraud you can write off the losses as Theft.

The SEC Fair Fund proves that OWCP was involved in fraud.

IG
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Jasper Jillionaire Jasper Jillionaire 3 weeks ago
S form? Who is your tax professional? Iโ€™ll give them some business if they want to write off my losses as theft.
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Jasper Jillionaire Jasper Jillionaire 3 weeks ago
Per the IRS instructions on what you cannot claim as a loss on form 4684, โ€œa decline in market value of stock caused by illegal misconduct by the officers or directors of the corporation that issues the stock, that was acquired on the open market for investmentโ€ cannot be claimed on form 4684.

The IRS is basically saying what happened with OWCP does not qualify for ponzi scheme section C of the form. This is exactly what happened with OWCP but it was a spokesperson rather than and officer or director. I canโ€™t imagine the rules would change being itโ€™s a spokesperson who committed the fraud rather than an officer/director.
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I-Glow I-Glow 3 weeks ago
I am beginning to think that OWCP will be suspended before another company comes in and tries to pump it.

OWCP is on the Expert Market and is also an SEC Delinquent Filer.

Now, OWCP has to file 15c again and the SEC/FINRA is making it almost impossible to process a 15c2-11.

IG
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I-Glow I-Glow 3 weeks ago
From the Form 4684:

"Aโ€”Personal Use Property (Use this section to report casualties and thefts of property not used in a trade or
business or for income-producing purposes. For tax years 2018 through 2025, if you are an individual, casualty or theft losses of personal-use property are deductible only if the loss is attributable to a federally declared disaster. You must use a separate Form 4684 (through line 12) for each casualty or theft event involving personal-use property. If reporting a qualified disaster loss, see the instructions for special rules that apply before completing this section.)"

Then we have:

"SECTION Cโ€”Theft Loss Deduction for Ponzi-Type Investment Scheme Using the Procedures in Revenue
Procedure 2009-20 (Complete this section in lieu of Appendix A in Revenue Procedure 2009-20. See instructions.)"

The Tax Code is guidelines not rigid rules - you could possibly use Section C losses from a Ponzi type investment scheme.

This should be a special topic on how file to take advantage of the OWCP losses.

IG



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Blue Skys Blue Skys 3 weeks ago
But to do that you have to sell the stock and miss out on the biggest runner in the history of the OTC!
👍️ 1 🤣 1
swamp boy swamp boy 3 weeks ago
Tax theft/loss S form .You take the unreturned number from fund and deduct from your total income tax .This is your new taxable income number for 2023 .example if 2023 is 100k you got 25 k back and you have 25k as your loss then new number is total 75k as taxable
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Jasper Jillionaire Jasper Jillionaire 4 weeks ago
Tax code section 165(e) provides examples just like OWCP and states that theyโ€™re not allowed for losses. Did you have any luck claiming a theft loss?
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Jasper Jillionaire Jasper Jillionaire 4 weeks ago
But form 4684 states theft losses for years 2018-2025 are only deductible if attributable to a federally declared disasterโ€ฆ
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Jasper Jillionaire Jasper Jillionaire 1 month ago
Did you already claim a loss when you sold your shares though? Or if you didnโ€™t already sell and claim the loss, what will you do when you do sell? You wouldnโ€™t be able to claim a theft loss now then sell shares later and claim the loss again next year or whenever. Any idea how that works? Curious about the theft loss approach.
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DGlover DGlover 1 month ago
how is everyone treating the settlement from Jeffrey Friedland Fair Fund re: tax returns?
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I-Glow I-Glow 1 month ago
I took a look at the documents about the $7 Million:

""Fair Fund" shall mean the funds totaling $4,179,000"

Link to approved plan: https://www.sec.gov/divisions/enforce/claims/docs/friedland-proposed-distribution-plan-120721.pdf

I believe you are correct in that the SEC didn't file a complaint against OWCP.

IG
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I-Glow I-Glow 1 month ago
The final order for all 3 named was a total of $4,158,998 not $7 Million.

The Final Judgement: https://www.sec.gov/divisions/enforce/claims/docs/friedland-judgment-120419.pdf

IG

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Musical Shares Musical Shares 1 month ago
It was.

There is a movie produced with that title. I have never seen it and do not know what the contents are about. Although, I do hope the premise is about the butterfly effect in someway.
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Blue Skys Blue Skys 1 month ago
I think it was you that mentioned The Butterfly Effect a while back. I looked it up at the time. I just saw a movie with that title on Amazon. Is it worth watching?
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cleanliving cleanliving 2 months ago
I just received a so-called Form 1042-S in the mail from the fair fund. I'm a canadian resident. Do you guys know what this is for? Thanks in advance.
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fat_tire fat_tire 2 months ago
Iโ€™m still holding too!! It has been a long journeyโ€ฆ
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swamp boy swamp boy 2 months ago
I have a long time certified public accountant I will give it to her and hope for the best.My thought is if the SEC charged Specifically, the Complaint alleged that, Friedland engaged in a nearly $7 million securities fraud scheme to conceal the nature of his interest in an Israeli medical marijuana company, OWC Pharmaceutical Research.Friendland not the company was the defendant . he defrauded investors and we only got half on the money back if there was more money we were entitled to full restitution. This was a theft and prosecuted as such. I can only try thanks
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I-Glow I-Glow 2 months ago
I believe that you can use your entire loss and not limited to $3000.

Nice work.

IG
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I-Glow I-Glow 2 months ago
Do you believe that will work? That is very interesting.

IG
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swamp boy swamp boy 2 months ago
Thanks not sure if section 3 is appropriate ,?
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abrooklyn abrooklyn 2 months ago
https://www.irs.gov/pub/irs-drop/n-04-27.pdf

https://www.irs.gov/pub/irs-pdf/f4684.pdf
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swamp boy swamp boy 2 months ago
Investment and other theft losses are covered in the IRS section 165 of the tax code. If you wish to claim a deduction for any losses due to investment fraud, you must complete a theft loss report. Theft loss reports should be submitted using Form 4684 and Form 1040 Schedule . Good news for my 2023 taxes
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Blue Skys Blue Skys 2 months ago
You are going to make a lot of money on your OWCP shares IMO.
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TOM611 TOM611 2 months ago
Go. OWCP. Iโ€™m. Here. Also. Blue. Sky. !!!!!
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Portuguese Ham Portuguese Ham 2 months ago
You are not alone brotherโ€ฆ Iโ€™m right here with you!
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Blue Skys Blue Skys 2 months ago
Maybe he was recently but I was thinking of the deep past. I think that the way they promoted that deal is very similar to what has occurred to date with OWCP. They pioneered rotating CEO's and officers talking smack about each other and much of the style of the way OWCP released "news" and there was an external guy just like Camelot who posted on this board. OWCP used the SLJB tactics and added 3 shareholder votes and the promoter getting arrested by the SEC. I feel like I'm watching a sequel to a movie. Fortunately its nearing time for the second sequel probably shortly after rescheduling. At least we know now that the hundreds of posts that CATV was getting all of the OWCP assets for pennies on the dollar were not accurate and all 3 lawsuits are resolved with no impact except of course the judgement in the Southern District of NY which I expect to pay off the team when the company launches. The preferred conversion will enrich insiders but since they neglected to set up a preferred series to control shareholder votes they were not able to dilute the legacy shareholders out of the game so they were forced to retain the value of those positions. Watching years and years of accumulation of the common stock has been joyful. I am sure that there are others who are silent but I am grateful to have a substantial holding of the common since there is no easy way for a US investor to participate in the accumulation with it being on the Expert Market.
No need to tell me that OWCP is dead. I am aware that I alone hear the heartbeat and it is getting stronger by the day.
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I-Glow I-Glow 2 months ago
Wasn't Carey Cooley involved with Sulja Brothers?

IG
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Blue Skys Blue Skys 2 months ago
I'm fairly sure that if I got as far as a custodianship hearing we would see management appear out of nowhere and do whatever it takes to retain the company. Knowing that it will probably be impossible to acquire shares prior to launch I'm grateful that I have my position at around 1 cent. Someone has been accumulating shares for years and years. I think that this stock will eclipse Sulja Brothers in the originality category when the cards are laid on the table. The Camelot affair, the 3 share holder votes and Ziv's lawsuit. I think that beats SLJB getting investors to buy into shipping concrete from Canada to Dubai.
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Musical Shares Musical Shares 2 months ago
Why don't you file for Custodianship of OWCP and find a real company to merge with OWCP?

Why would anyone do that... when there is an $8 million dollar judgement against this very shell?

It doesn't go away if someone decides to take custodianship of it and merge another company. That's the first step in acquiring a shell/merging a company with a shell. It's due diligence of lawsuits/financial judgements against it.

The shell is tainted. It will either be bought by Kirkland, forfeited in an asset seizure down the road or at the very least be bought by someone who is linked with Kirkland.
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TOM611 TOM611 3 months ago
Go. Owcp. Blue skies youโ€™re 100% correctโ€ฆ The party is going to be grand grand.
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TOM611 TOM611 3 months ago
Go. Owcp. Five times normal volume today Iโ€™m still holding 1 million shares from years ago and I believe the future is definitely green for this company once they straighten everything out.
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I-Glow I-Glow 3 months ago
Both were SEC reporters - and both are listed as delinquent SEC filers and both are on the Expert Market (I find the name pretty funny).

The point was just because a OTC company is a SEC filer means very little in determining it being a share selling scheme.

But OWCP was far more sophisticated scam than NPHC.

The biggest problem is that OWCP will be suspended and revoked.

Why don't you file for Custodianship of OWCP and find a real company to merge with OWCP?

There are several issues you would have to resolve before a merger could happen - first you would have to file a 15c and file all of the delinquent 10-Qs and 10-K. It would probably cost at least $50,000. Plus, deal with any hidden convertible notes, legal issues...

IG



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swamp boy swamp boy 3 months ago
does any one still have information from fund stating the calculation using a 49% pro rata .Thanks I did look but cant find it
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Blue Skys Blue Skys 3 months ago
I've noted your recent concern about 15c filings on a lot of stocks and I understand your concern since they can continue to trade in the interim. It seems to me here that the lack of a 15c is not the biggest concern at the moment because OWCP is Expert Market.

The part of your post that I don't understand is why your analysis of NPHS has any bearing on OWCP. Are you suggesting that those companies are involved in some way?
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I-Glow I-Glow 3 months ago
Blue, there is a problem with OWCP - they (whomever takes over the shell) has to file a 15c and I haven't seen one approved in months.

From the OTCM website:

"Warning! This security is eligible for Unsolicited Quotes Only

This stock is not eligible for proprietary broker-dealer quotations. All quotes in this stock reflect unsolicited customer orders. Unsolicited-Only stocks have a higher risk of wider spreads, increased volatility, and price dislocations. Investors may have difficulty selling this stock. An initial review by a broker-dealer under SEC Rule15c2-11 is required for brokers to publish competing quotes and provide continuous market making."

Plus, NPHC is severely delinquent and could be suspended at anytime.

IG
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Blue Skys Blue Skys 3 months ago
Some lucky dog got a boatload of shares today for peanuts!
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Blue Skys Blue Skys 4 months ago
Something Wonderful!
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Jakelegal Jakelegal 4 months ago
Just call your broker
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Jakelegal Jakelegal 4 months ago
What else is there to do but hold right? Someones going to want the shell sooner or laterโ€ฆ
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Jakelegal Jakelegal 4 months ago
Time is near for what ?
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Musical Shares Musical Shares 4 months ago
I think you took a wrong turn at your portal.
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Blue Skys Blue Skys 4 months ago
Actually no! I was almost 10 years early to this party. Its going to be grand.
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Musical Shares Musical Shares 4 months ago
At the time of the great journey across Flat Earth investors were to believe that they were the only contributors to the cost of the travelers employment.

Modern day Marco Polo in my eyes. Bringing back mysterious goods from far away lands.

At a later conference call Ziv stated that Howard was representing the company as a sort of IR rep. It seemed to imply that Howard's role was to interface with investors on Ihub.

What do you think is going to happen next? I feel that the time is near.

It's 2023. Your about 4 years late. :)
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Blue Skys Blue Skys 4 months ago
More great progress! The compensation of the traveler is an interesting issue. At the time of the great journey across Flat Earth investors were to believe that they were the only contributors to the cost of the travelers employment. At a later conference call Ziv stated that Howard was representing the company as a sort of IR rep. It seemed to imply that Howard's role was to interface with investors on Ihub.

What do you think is going to happen next? I feel that the time is near.
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Musical Shares Musical Shares 4 months ago
I'm afraid we are not making good progress sorting this out. Also, I keep putting an "e" at the end of his last name. That is incorrect. My bad.

I never said Jeffery Low did not receive shares. I said the person you call "Howard" who traveled to Israel did not receive shares and is not related to Jeffrey Low.

Low indeed received shares transferred from Turner to him. It's clearly documented in quarterly reports in 2017.

I don't see the connection between him trying to sell his house and the shares? And I don't understand how someone "quietly" de-list their home. None of that really has much bearing on what Friedland did nor Bignitz.
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Blue Skys Blue Skys 4 months ago
Looks like we are making good progress sorting this out. First you said that Jeffrey Low did not receive shares. Now you agree with me that he got Ziv's shares. Jeffrey Low used his home address on a filing so I have his home saved as a favorite on Zillow. He listed it for sale when OWCP was hot and quietly delisted when the other Jeffrey got busted and the stock suffered a reduced market capitalization.
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Musical Shares Musical Shares 4 months ago
You can believe what you want. But, boy, are you wrong. I'm being so honest here.

How would you even know that the two Lowes were brothers on social media? Did it actually state that? Because, you know, there are quite a few Howard Lowes in Maryland.

I have no idea who Jeffrey Lowe is personally.
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