Ann: Quarterly Activities Report, page-30

Ok so we have all been on the company's website and had a read of their short, medium and long term goals:




From which I would state the following:

1. IRX IP is in a controlled/fixed dose vape, with current market solution unable to provide a true fixed/controlled dose and hence doctors have been reluctant to prescribe
2. IRX partner with EC Pharma who provide the C-liquids for the vape & their formulations

When I read the quarterly:






OK so from the above I think its safe to say that the IP for the formulations still belongs to EC Pharma...
From reading the website I had thought that IRXs objective was limited to the controlled dose vape, yet now when I look at the existing drugs to treat CPRS and PD, Cannabis is not listed in either. So really, it seems to me that IRX have become a bio-tech that is using someone else's Cannabis formulation with their delivery device (two sets of IP) to obtain FDA/TGA approval that Cannabis when inhaled can be used to treat these conditions.

I guess now I am wondering:

• Why haven't competitors done this before? Is it because of the favourable cannabis laws in Australia that this hasnt been done in the US?
• If IRX are to become a Biotech why involve EC Pharma and not purchase the required formulations in the first place?
• Is the business model too simple? Would anyone with these conditions not already be able to get their hands on some Marijuana and a vape?