gameccks1
5 days ago
I suggest awareness and caution. As you have stated, in different words, in the past, Otiko is essentially all about himself. On 03/28/23, he gifted himself 95.5 million shares ($2.58M fair market value or 5.7% of common stock) above the amount required to pay for legitimate $0.1185M debt company owed to him. Most recently, he gifted himself bonus of 60% of sales, not even recorded on the books yet, for barely any results in half decade plus. He is still obscuring the value of the recent shipments, because he and the creditors, effectively, are the sole beneficiaries. Assuming he does not create further ridiculous gifts to himself, any future shipments, beyond the reported two Nigeria ones, should have significant benefit to the company and real shareholders. However, we have been at this possible inflection/breakthrough point too many times in the past, without follow-on results to move to significant new level, to the reward of shareholders. Hope springs eternal, but, definitely, verify and not blindly trust him, based on current, long-term track record.
gameccks1
5 days ago
Unlike numerous other things, where Otiko obfuscates the facts, by design to his benefit, the following excerpt, from 3Q24 report, page 7, 4th paragraph, clearly provides the explanation sought:
In other words, the deals are not under the non-exclusive licensing agreement, for Tetracycline-based technology, to Viaderma Distribution, Inc (formerly Biogenx), but are direct sales of tetracycline ointment.
The more pertinent point is the likely, very limited benefit to company and shareholders in the first two Nigerian shipments, as derivable by cutting through Otiko's obfuscation of the value of the deal (still ongoing today), and its bottom line results, as I have posted about multiple times (most recently in message 75372).