LAS VEGAS / February 19, 2014 / ACCESSWIRE / Broadleaf Capital Partners Inc. (OTC:BDLF) entered into an agreement to sell its Pipeline Nutrition, Inc. subsidiary.
The buyers are Pipeline President, KC Quintana and T. W. Owen. As a team, Quintana and Owen have proven capabilities in the nutraceutical marketplace.
Features of the transaction, which has an effective date of December 31, 2013, include:
1. 12 month amortization of $165,000 in principal and interest on existing loans from Broadleaf; and
2. 12 month payment of an additional $165,000 in profit as consideration for Broadleaf loans; and
3. An estimated $30,000 in 151year royalties on Pipeline profits; and
4. Perpetual royalties thereafter; and
5. A one-time first year profit participation in Pipeline profits.
The transaction is intended to bring Broadleaf a profit on their investment in Pipeline and allow the company to concentrate their efforts on funding for the Sustained Release, Inc. project. Sustained Release, Inc., a subsidiary of BOLF has a contract with Akina, Inc. for 49% interest in a technology relating to extended drug delivery systems.
Akina, Inc. is a research and development company known for developing unique methods for delivering medications. It was founded in 2001 by Kinam Park, Showalter Distinguished Professor of Biomedical Engineering and Professor of Pharmaceutics at Purdue University. Akina is a pioneer in the development of the long-term release microparticle formulations, also referenced as "Sustained Release Formulations", which have release durations ranging from one to eight months, and are designed to replace repeated daily, weekly or monthly administration of drugs for long-term care of diseases and disorders, thereby higher efficacy of the drug.
The Akina microparticles are programmable in release kinetics and ideal for release of active pharmaceutical ingredients for terms ranging from a few weeks to several months. They are inexpensive to produce, readily scalable for mass production, and offer a wide range of clinical applications.
About Broadleaf Capital Partners:Broadleaf Capital Partners Inc. (OTC:BDLF) is actively reviewing unique and proprietary technologies for investment consideration. Broadleaf seeks such technologies held by emerging or early stage, small to medium-size companies in various fields of business to arrange for capital and provide management support. Our goal is to provide our stockholders capital appreciation and a solid dividend yield.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicmy describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking.The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
Contacts:Princeton Research, Inc., Las Vegas Mike King, 702-650-3000 [email protected]
Source: Broadleaf Capital Partners Inc.