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Tuesday April 20, 10:59 am Eastern Time
Company Press Release
SOURCE: Advanced Plant Pharmaceuticals, Inc.
Advanced Plant Pharmaceuticals, Inc. - APPI - Announces That They Plan to Spin-Off a Subsidiary Public Internet Company
NEW YORK, April 20 /PRNewswire/ -- Advanced Plant Pharmaceuticals, Inc. (OTC Bulletin Board: APPI - news) announced today that they plan to spin-off a nutritional and vitamin Online superstore.
New York, N.Y.
Advanced Plant Pharmaceuticals, Inc., makers of the finest standardized pharmaceutical grade nutritional supplements plans to develop a subsidiary public company that will operate as an online alternative medicine superstore. Based upon studies done by the Company, APPI intends to introduce the Online alternative medicine superstore to the European market. The web site will be strictly dedicated to the sales of APPI's complete line of advanced plant formulations along with nutritional supplements and vitamins produced by other manufacturers. In addition to being able to purchase products, site visitors can obtain valuable information regarding the use of nutritional supplements and vitamins. In conjunction with a prior exclusive distribution agreement signed between APPI and Maxwell Associates of England, Maxwell Associates has agreed to set up a separate corporation that will develop and own the Online alternative medicine web site in England and will initially handle the whole European Market. Maxwell Associates will receive 60% ownership of the English site for their commitment. When the web site reaches significant sales levels, APPI's subsidiary public company will offer franchise opportunities to interested parties from other countries. For every franchise sold, APPI's subsidiary public company will receive 90% of all franchise fees and royalties, the remaining 10% will go to Maxwell Associates.
The company expects to announce further agreements in the near future.
APPI is a company that develops innovative plant formulations and technology for clinical application. APPI has met FDA nutritional specifications for the marketing of its Lo-Chol in the USA, and has received the first IND from the FDA for a whole plant pharmaceutical which has potential as an immunomodulater in the treatment of patients infected with HIV, the virus that causes AIDS.
APPI's Whole Plant Pharmaceutical Grade Process is trade secret and patent pending. Utilization of the APPI process converts a whole plant into the best standardized pharmaceutical grade product.
This press release contains forward-looking slatements. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements.
CONTACT: Barry Clare of Advanced Plant Pharmaceuticals, Inc., 212-402-7878, or appi@erols.com; or Herbert Maxwell of Maxwell Associates, +44-181-458-4797, or hmax380477@aol.com, for Advanced Plant Pharmaceuticals, Inc.
Web site: advancedplantpharm.com
SOURCE: Advanced Plant Pharmaceuticals, Inc.
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