|OWC Pharmaceutical Research Corp. is engaged in the business, through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd. ("OWC"), of conducting medical research and clinical trials, in full compliance with all international regulatory protocols, for the development and improvement of strains of medical cannabis specifically designed for the treatment of several illnesses/medical conditions. Under the direction of Dr. Yehuda Baruch, our Director of Research and Regulatory Affairs and Chief Science Officer, the Company has recently filed a patent application with the United States Patent and Trademark Office for its active cannabinoid-based topical cream. OWC has also entered into an agreement with Mediq Innovation Partners for marketing OWC's topical psoriasis cream in Germany. OWC has also progressed on using specific dosages of its Cannabaniod-based products administered through soluble pills taken orally, with its initial focus on PTSD, multiple myeloma and topical treatment of burns in addition to psoriasis. Our business plan includes entering into collaborative ventures with major medical centers and highly regarded researchers in Israel and potentially other countries with the goal of developing novel therapeutic methods for the treatment of serious medical conditions with cannabis-based therapies and are conducting pre-clinical investigations and randomized, placebo-controlled trials of cannabis-based compounds and develop unique, condition-specific products.