Good morning,
Let's keep the discussion for the current important phase on the R/M. We know the company announced through their quarterly period ending March 31, 2024, that they were no longer a shell company, as of the effective date of March 9, 2023.
This is the company's bio and very important as of the 1st quarter financial.
Current Operations Plandai Biotechnology, Inc. (“ PLPL ” or the “ Company “), a Nevada corporation, is a publicly quoted company. The Company's current operations are conducted at offices provided without charge in San Diego, California. PLPL does not have any ownership interest in the offices and there is no lease for the offices. The Company expects to utilize these offices indefinitely, pending the Company's possible merger with another entity. PLPL had previously owned intellectual properties related to its prior research, development and production of botanical extracts including, but not limited to: trademarks, trade secrets, and product formulations for green tea and citrus products from discontinued operations. The Company's intellectual properties were the result of research and development endeavors with North-West University in Potchefstroom, South Africa, and the Company's former Senteeko Tea Estate located in Mpumalanga, South Africa. The Company holds no current assets, and holds no other assets, as of December 31, 2023, and June 30, 2023. There was no revenue produced within the period, as entity was acting as a shell for the period. Expenses incurred in period were related to prorated accrued interest on convertible debt. A Supplemental Information Report was filed as of March 9, 2023, and discloses a change in the Shell Status of Plandai Biotechnology, Inc. ("Plandai"). Previously, Plandai disclosed that it was a shell company in its Alternative Reporting Disclosures with OTC Markets. As of the effective date of March 9, 2023, Plandai was no longer a shell company (see discussion below). By virtue of a Binding Memorandum of Understanding with Good Salt, LLC, a Florida limited liability company ("Good Salt") (included herewith as an exhibit), Plandai and Good Salt agreed to formalize a share exchange agreement whereby (i) Plandai would exchange restricted unregistered common shares, and separately, (ii) Plandai's majority shareholder would exchange Series "A" Preferred Common Stock with Good Salt, in exchange for (iii) all of the authorized and issued limited liability company interests of Good Salt. On August 1, 2023, there was a recission of the material definitive agreement with ByoPlant: The material definitive agreement, which was initially entered into on May 16, 2023, outlined the terms and conditions for the acquisition of the Company by Good Salt. However, despite diligent efforts and ongoing communications, conditions subsequent to the closing were unmet, and essential considerations were not settled. As a result, Plandai had no choice but to initiate the rescission process. The rescission will render the material definitive agreement null and void, and both parties will revert to their pre-agreement status. Gaelic for “plant food,” Plandaí historically engaged in the research and development of all-natural nutraceutical ingredients and unlocking their pharmaceutical potential. The Company invested in research and development and developed valuable intellectual property in delivery mechanisms for the delivery of therapeutic level of essential plantbased nutrients to human cells. The IP developed and owned by the Company includes targeted products that contain plant-curative properties.
The Company's proprietary trade secret extraction methods allow plant nutrients to be properly absorbed and remain in the system long enough for a therapeutic effect. The Company's technology restructures plant nutrients into a highly purified form that the body can more easily process while also increasing their absorption into the blood plasma and the length of time those nutrients remain present and active in your system. The Company produced and trademarked products associated with its extraction and delivery systems, including “Phytofare,” a product with all of the phytonutrients in a stable, highly bioavailable active extract. Business Plan PLPL has closed a transfer of control to San Global Dining Ltd and has changed management control. San Global Dining Ltd is a catering operation in Taiwan.
Corporate History: The Company was incorporated in the State of Nevada on February 24, 2004. PLPL has since remained incorporated in Nevada. The Company operated as a shell company up until March 9, 2023, when the Company changed to non-shell status via a pending share exchange agreement. For more details, please see “Current Operations” disclosure above.
About ByoPlanet:
Plandai Subsidiary ByoPlanet Announces Strategic Distribution Agreement with Merck Animal Health
Press Release | 05/19/2023
ATHENS, GA / ACCESSWIRE / May 19, 2023 / ByoPlanet, a leading provider of advanced disinfection solutions and a wholly owned subsidiary of Plandai Biotechnology Inc. (the "Company") (OTC PINK:PLPL), is excited to announce the establishment of a comprehensive one-year distribution agreement with Merck Animal Health, a global leader in animal health solutions and a division of Merck & Co., to distribute Merck Animal Health's Armatrex antimicrobial solution to the $36 billion animal health market.
Plandai Biotechnology, Friday, May 19, 2023, Press release picture
This strategic collaboration between ByoPlanet and Merck Animal Health aims to leverage the strengths of both companies to deliver advanced antimicrobial solutions to customers across the animal health marketplace, including the commercial and companion animal sectors. ByoPlanet's extensive reach and expertise in the disinfection industry combined with Merck Animal Health's reputation for excellence in animal health will provide customers with unparalleled access to cutting-edge solutions.
Armatrex, developed by Merck Animal Health, is an antimicrobial chemistry specifically designed for the animal health market that bonds to the substrates and creates a powerful bacteriostatic finish. It offers a comprehensive and efficient solution to combat the spread of harmful pathogens, ensuring the well-being and safety of animals. By incorporating Armatrex into their hygiene protocols, customers can maintain a healthier environment and protect animals from potential diseases.
"We are excited about this partnership with Merck Animal Health," said Rick O'Shea, founder of ByoPlanet and CEO of Plandai Biotechnology. "By joining forces with an established global leader, we can expand our offerings to the animal health market and further solidify our position as an emerging force in the advanced disinfectant solutions market. This collaboration underscores our commitment to innovation and our dedication to providing our customers with the most effective products available."
Under the terms of the agreement, ByoPlanet will be responsible for the distribution and marketing of Armatrex to customers in the animal health industry. ByoPlanet's extensive customer base and network of industry relationships will facilitate seamless access to Armatrex for animal health professionals, veterinarians, and other stakeholders in the commercial and companion animal sectors. ByoPlanet management believes this collaboration will enhance the availability and utilization of Armatrex across the animal health market.
Both ByoPlanet and Merck Animal Health are confident that this distribution agreement will strengthen their positions in the animal health market and drive innovation in antimicrobial solutions. By working together, the two companies aim to enhance animal health, improve productivity, and foster sustainable practices across the industry.
About ByoPlanet
ByoPlanet is a leader in disinfection solutions, providing innovative technologies and services that improve health outcomes in a variety of settings. With a focus on providing superior disinfection and infection control solutions, ByoPlanet is committed to working with its partners to develop customized solutions that meet their unique needs. ByoPlanet's disinfection solutions are trusted by businesses and organizations around the world, including animal health, hospitals, education, and government agencies.
About Merck Animal Health
Merck Animal Health, a division of Merck & Co., Inc., Rahway, N.J., USA, is the global animal health business of Merck. Through its commitment to The Science of Healthier Animals®, Merck Animal Health offers veterinarians, farmers, pet owners and governments one of the widest ranges of veterinary pharmaceuticals, vaccines and health management solutions and services as well as an extensive suite of connected technology that includes identification, traceability and monitoring products. Merck Animal Health is dedicated to preserving and improving the health, well-being and performance of animals and the people who care for them. It invests extensively in dynamic and comprehensive R&D resources and a modern, global supply chain. Merck Animal Health is present in more than 50 countries, while its products are available in some 150 markets. For more information, visit www.merck-animal-health.com.
My comment
We have not received anything about the above deal. I only added this for point of interest. Remember the restricted share increase last Feb is a big deal and, in my opinion, they will hold off on any talk of a R/S because they would never have raised the share structure only to R/S on a near-term action. This would seem out of the ordinary and the Nevada SOS would never allow an increase just to in the near-term to do a Reverse Split.
I strongly believe the increase is asset based and a huge deal is pending. Forget the Sushi catering business, that isn't happening.
Have a good day.
varok
