#WEEKEND: $PLPL: Plandai Biotechnology Inc...Biotech Reverse Merger & FDA Approved Puriblood Leukocyte Reduction Blood Filtration System Looks to Go Public via Plandai......0.001
Plandai Biotechnology Inc (OTCMKTS: PLPL) has been moving northbound trading over $280,000 in dollar volume and moving up 40% on Tuesday. The stock was up over 40% in the first hour of trading on Wednesday. The Company recently eliminated the rest of their debt and trades at a low $4.9 million total market valuation. Recently Plandai announced a reverse merger LOI with Puriblood Medical Co., Ltd whereby, Jessie Chiang Chiang via entities she controls, will license to Plandai the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years and will acquire the controlling interest in the Company and will become the Company’s Director, President, and Chief Executive Officer.
The Puriblood Leukocyte Reduction Blood Filtration System helps ensure the quality of blood used for transfusions, by effectively removing Leukocytes from blood, thereby minimizing acute or delayed adverse transfusion reactions, including infection and death. Currently, approximately thirty countries around the world require leuko-reduction in blood supplies. Puriblood’s core blood purification filters reduce up to over 99% of leukocytes, in substantially less time, with minimal blood loss, while retaining a high level of red blood cells (where a higher number of red blood cells retained is desirable). Puriblood’s technology is patented in multiple strategic countries, including the United States, and cleared for marketing by the U.S. Food and Drug Administration under Section 510(k) of the Federal Food, Drug, and Cosmetic Act.
Plandai Biotechnology Inc (OTCMKTS: PLPL) a Nevada corporation, is a publicly quoted shell company seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth. Microcapdaily reported on PLPL years ago stating at the time: “Plandai Biotechnology Inc (OTCMKTS: PLPL) The widespread euphoria has driven pot stocks sky high and PLPL was no exception the last time around. Now that the sector is heating up again the stock seems to be under accumulation.”
In January 2022, in a private transaction, Plandai Biotechnologies, Inc. announced that its final legacy debt with EMA Financial was purchased by an accredited investor in a private transaction. EMA’s original loan of $57,500 to Plandai dated back to September 21, 2016. Plandai defaulted on the convertible note on September 21, 2017, resulting in default penalties, conversion terms and interest which were burdensome to Plandai. The private transaction assures Plandai that the debt will be resolved with a friendly long-term investor who believes in the future of the Company.
Placing EMA Financial’s debt with a friendly accredited investor who shares managements long-term vision with the Company, helps remove an immediate financial burden on Plandai and its liquidity, and helps the Company move forward. Plandai now has a great looking balance sheet with just $361,250 in total liabilties.
On May 23 Plandai announced its entry into a non-binding letter of intent to enter into a new business through a proposed product and technology rights licensing agreement with the holder of rights to the unique Puriblood Leukocyte Reduction Blood Filtration System.
Puriblood Medical Co., Ltd. [Taipei Exchange], develops and sells blood cell separation products including its leukocyte reduction filters for red blood cells, platelets, and whole blood, as well as real-time filtration sets for whole blood. The Puriblood Leukocyte Reduction Blood Filtration System helps ensure the quality of blood used for transfusions, by effectively removing Leukocytes from blood, thereby minimizing acute or delayed adverse transfusion reactions, including infection and death. Currently, approximately thirty countries around the world require leuko-reduction in blood supplies. Puriblood’s core blood purification filters reduce up to over 99% of leukocytes, in substantially less time, with minimal blood loss, while retaining a high level of red blood cells (where a higher number of red blood cells retained is desirable). Puriblood’s technology is patented in multiple strategic countries, including the United States, and cleared for marketing by the U.S. Food and Drug Administration under Section 510(k) of the Federal Food, Drug, and Cosmetic Act. Puriblood is a U.S. registered trademark of Puriblood Medical Co., Ltd. Corporation Taiwan 2f., No. 11, Gongye E. 9th Rd. Hsinchu County 30075 Taiwan R.O.C.
Under the terms of the proposed agreement, the current holder of the worldwide rights, exclusive of Taiwan, Jessie Chiang, via entities she controls, will license to Plandai the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years. Upon closing of the proposed transaction, Ms. Chiang will acquire the controlling interest in the Company and will become the Company’s Director, President, and Chief Executive Officer. Ms. Chiang will then appoint new members to the board of directors and will move to establish a board of advisors consisting of leading industry, finance, and business experts.
Tad Mailander, the Company’s CEO and director commented, “We have been very clear with our shareholders that Plandai has planned to create increased value by merging with another business entity or implementing a positive change in business direction via a new management team. We have been carefully vetting such opportunities, and we are now pleased to present this opportunity to our shareholders. We view this proposed transaction as being in the best interest of our shareholders. Our team is looking forward to completing our due diligence process and ultimately closing on this transaction.”
Jessie Chiang commented: “This is an extremely exciting opportunity for the teams of our companies to all work together in synergy to maximize the potential of this frequently essential medical device in the international and domestic market.”
The global leukapheresis market is primarily driven by solid growth in voluntary blood donations, rising incidence of hematologic diseases, such as leukemia, and an aging population in many countries. As a result, several industry analysts are forecasting continued strong growth in technologies and products designed for this market. For example, Quince Market Insights, in a report issued late in 2021, estimates the global leukapheresis market will grow at a compound annual growth rate of 43.9% until 2030.
While the parties have agreed to non-binding terms in a letter outlining their intentions, the transaction has not yet been consummated, and there is no assurance that any such transaction will ultimately close. Plandai plans to release additional information concerning the progress of the proposed transaction as soon as possible, upon the completion of its due diligence investigation.
Currently trading at a $4.9 million market valuation Plandai has 7,006,411,205 shares outstanding and 5,176,257,801 shares currently in the float. They sound like big numbers but PLPL is trading at $0.0007 after going up 40% on Tuesday on about $280,000 in dollar volume. PLPL is an exciting opportunity in small caps, a clean reverse merger in the notoriously explosive biotech sector, that just eliminated their debt and trades for less than $5 million total market valuation. Recently Plandai announced a reverse merger LOI with Puriblood Medical Co., Ltd whereby, Jessie Chiang Chiang via entities she controls, will license to Plandai the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years and will acquire the controlling interest in the Company and will become the Company’s Director, President, and Chief Executive Officer. Puriblood’s technology is patented in multiple strategic countries, including the United States, and cleared for marketing by the U.S. Food and Drug Administration under Section 510(k) of the Federal Food, Drug, and Cosmetic Act. The Plandai / Puriblood reverse merger is one biotech that has got a lot of room to grow from current levels.
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