Interesting read on claritasinvestors for and about losinghisshirt and the likes. Enjoy
"I can't believe that trolls, bashers and shills are still gnawing on this bone but, they are.
Claritas is moving forward with a drug that could very well be worth in the tens of billions in a very short amount of time. We have the studies set up, the financing and the right people in place - world class professionals in the field of lung disorders and Nitric Oxide applications. So, seems things are looking fairly good so what's the hook?
To those unfamiliar here's how it works. In order to lay FUD (fear uncertainty and doubt) on investors for reasons ranging from being a short selling paid troll to just being a basher with little else to do, they go into their bag of tricks and pull out 'Ol Faithful' from tome to time - sowing doubt as to the capabilities of the company to see a project through.
The example they like to use is the former GVHD program (KAL05) of Kalytera - Claritas' previous identity. Using this example they convolute history and invent garbage either out of deceit and lies or, simply lack of knowledge about what was going on t the time and, what is going on now.
The canard goes like this;
"Bob stole our money and gave our GVHD program away. I invested in this scam because of GVHD and he just threw it away when it was just about to make money."
Another one;
"We funded all the research for GVHD and so close to phase 3 and now give it up. Now we are in COVID with every other company in the world.
How stupid does Rob think people are? Complete joke.
It looks like the plan was to fund the program down to the last patient then give it back to Talent via default. Then instead of coming up with money to proceed with GVHD they buy a COVID treatment not proven.
Looks like we, the shareholders got screwed again."
We weren't even close to the finish line. The cost of Phase 3 was $10 million. We were on track with a market, program and investors then, the bottom fell out of the CBD market and took all of that, the medical side as well - and us, along with it, even though our CBD based drug was synthetic. Since end 2018 we've been out of money and unable to finance our GVHD drug to move it forward.
Attempts to sell a CBD treatment in a market where CBD stocks were cratering failed leaving Bob with no cash, no investors and a drug that would cost ten million dollars or more to move forward. To say that this was foreseeable is to ignore the fact that tens of billions were lost by the biggest names in cannabis - Canopy Growth, Aurora, Aphria, Hexo as well as medicals such as Emerald Health, Medmen and others.
Strange, Farrell wasn't managing all of those companies, yet they floundered in that same market that year.
He tries to sell the GVHD program but no serious buyers emerge for reasons ranging from small market size to it being CBD based.
In 2020 a deal with Bassa and his steroids was cobbled together in the hopes this would keep us afloat and it too fails.
During this period, I don't think that he even gave a s h i t - company worth nothing, no drug, no deal, no money, no future. He was probably about to update his resume to look for another job and wasn't going to remortgage his house to pay the fees out of pocket to keep a failed enterprise open. Surprised he didn't as any sane person would have but then, his relationship with Andrew Salzman paid off when the two had an informal talk. Out of this was born the concept of what we see today with the extreme possibilities of R-107, PAH COVID and CILI.
Rejuvenated, he began working on the new company and direction while writing a series of epic sized MD&As and other memoranda to bring us into compliance with the OSC and BCSC during the period when all concentration should have been on working out the Salzman deal - all without the benefit of office staff.
Finally, when all is done properly according to the OSC and BCSC's criteria they stall. Disgruntled shareholders blame him.
Since before that time,(January 2020) he has worked tirelessly without pay to get this off the ground. We're lucky to have him. I firmly believe we nearly lost everything at that point and, thanks to him, his sacrifice and dedication he personally pulled us back from the brink."