The acquisition of patent pending for a natural cholesterol lowering formula is the latest move by Freedom Leaf Inc (OTCMKTS:FRLF). Reports indicate that Healthy Discovery Associates Corp was the big name behind this development and it will be great for consumers to learn that this product has the potential of lowering cholesterol levels. A person well conversant with the matter has termed it a dietary supplement outlining that it won’t be requiring FDA approval.
Freedom Leaf’s spokesperson says that they purchased the patent pending application for FRLF common stock shares amounting to 1,400,000 and that was subject to a leak-out agreement.
The CEO and co-founder of Freedom Leaf Clifford J. Perry opined, “High cholesterol is considered a major factor in cardiovascular disease, and the market for statins, the leading category of prescription anti-cholesterol drugs, exceeds $20 billion annually. Unfortunately, statins are not well tolerated by many patients, who seek out alternatives in the dietary supplement market.
Perry is aware of the fact that this formula is not hemp extract-based but still believes it will augur well with their focus on health and wellness. He made a special mention of Ayurvedic herbal formulas which were being sold out under the Hempology brand. If all moves according to plan, consumers will in a matter of about 6 months be able to access the supplement in the market.
Harvey Katz and Allan S Kaplan and their role
Harvey Katz and Allan S Kaplan were the product development scientists behind the pending formula .The significant success witnessed has been attributed to the skills and experiences of the two because to begin with, Dr Kaplan has a degree in Pharmaceutical Chemistry aside from having spent a number of years working as a Senior Pharmaceutical Executive with a number of companies and their subsidiaries as well.
The other move by the business guru is the recent acquisition of a 430,000-square-foot greenhouse complex located in Valencia and reports indicated it was worth €4,100,000 ($4.75 million). Perry addressed several journalists saying that the new acquisition was going to transform them into one of the biggest indoor hemp producers in Europe where there is currently a major market boom for CBD products.