The Tieli Xiaoxinganlin Frog Breeding Company has signed a letter of intent with Ticketcart, a company that has formerly offered remanufactured cartridges for inkjet printers. Tieli Xiaoxinganlin is a wholly owned subsidiary of American SXAN Biotech, a Delaware Corporation.
The move appears to be purely financial as a spokesperson for American SXAN Biotech told NutraIngredients-USA there is no intent from any of the parties involved to import the two-legged hoppers this side of the Pacific.
Instead, the proposed deal sees Tieli Xiaoxinganlin leaping into the US market for investors to plug its frogs.
"If the merger closes, we will be able to leverage the US publicly listed company status to help us reach our developmental goals," Feng Zhenxing, chairman and CEO of Tieli Xiaoxinganlin, said in a statement. "For thousands of years, Northeastern forest frog has been touted as a top nutritional supplement."
After seven years of research and development, Tieli Xiaoxinganlin claims to have become one of the first enterprises with genetic breeding technology for China's forest frogs. The company has been granted national patents for forest frog-derived nutritional supplemental products, including wines and tonics.
"With this technology, we can produce more forest frog derived nutritional supplements to meet the increasing market demand," said Feng.
The American holding company SXAN Biotech was not able to tell NutraIngredients-USA what the exact nutraceutical properties of frogs may be, nor did it exactly try to jumpstart it for potential consumers.
"There are no medical facts to back up that they work," American SXAN Biotech spokesperson Peter Zhou told NutraIngredients-USA."They're used for nutritional supplements in Asia for a wide variety of purposes."