Published On: Mon, Jan 30th, 2017

What Is Going On With ProText Mobility Inc (OTCMKTS:TXTM)?

Plandai Biotechnology Inc (OTCMKTS:PLPL), producer of Phytofare® catechin complex, has closed a share exchange between ProText Mobility Inc (OTCMKTS:TXTM) and Plandaí Biotechnology South Africa LTD. Under the terms of the deal, Plandaí turns the majority owner of Protext and Plandaí SA will be the successor issuer to safeguard for accounting and reporting purposes. It is projected that the prior assets and operations of company will be liquidated in the imminent weeks, leaving Plandaí SA as the sole entity.

The details

Plandaí SA was set in 2014 by Plandaí Biotechnology, to offer a platform for increasing the research of Phytofare® extracts into pharmaceutical application and later getting product claims. Phytofare® has been clinically established in human trials to offer ten times greater bioavailability. The first offering brought to market, Phytofare®, is produced from green tea and includes all 8 catechins in an extremely absorbable biocompatible structure. Plandaí Biotechnology focuses on offering Phytofare® as a component to producers in the nutraceutical industry, while Plandaí SA intends to target the pharmaceutical industry with a finished product.

Plandaí SA has the sole rights and license to develop, manufacture, and offer all future and current Phytofare® extracts for the global pharmaceutical market. The first targeted offering will focus on curing diabetes by monitoring blood sugar levels with an anticipation of being market ready by 2H2017.

Roger Baylis-Duffield, the CEO of Plandaí, said that this strategic plan enables them to separate the research component of their business into a distinct, self-funding entity, releasing Plandaí to focus more on Phytofare® produce and sales. Plandaí SA will work with distinct management focusing on pharmaceutical applications and getting medication and structure-function claims. Plandaí will produce and sells ingredients to the nutraceutical industry, while Plandaí SA will offer a finished product targeting a definite application, like dealing with glucose levels in diabetics.

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