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BEIJING--(BUSINESS WIRE)--All Asia Licensing Inc. (Pink Sheets: AASI), today announced that it entered into a Letter of Intent with an international bio research and marketing firm to manufacture and distribute in China the research company’s proprietary cattle test for BSE (Bovine Spongiform Encephalopathy), better known as “Mad Cow” Disease.
“Assuming the consummation of a final agreement, I would anticipate that the 50-50 sharing arrangement may result in annual revenue between $100 million and $150 million for All Asia once the system is rolled out across China,” according to Anthony Lee, CEO of All Asia Licensing.
The Letter of Intent provides for the creation of a joint venture company later in the month in the Peoples Republic of China. There, the beef industry is governed by the Ministry of Agriculture, which has oversight over approximately 60 million head of cattle in beef processing plants at any one time. The joint venture will deal directly with the National Diagnostic Center for Exotic Animal Diseases, the national research laboratory for BSE and Newcastle Disease.
In addition, the China Animal Health and Epidemiology Centers for BSE and the Ministry of Agriculture have expressed interest in implementing a procedure for a beef grading system (analogous to the U.S. terms of “BSE Free Prime” and “BSE Free Choice”, for example) throughout China.
The success of the proposal is dependent upon, among other things, China’s Ministry of Agriculture accepting the joint venture’s protocol for identifying such diseases as “Mad Cow”, installing a grading system and establishing appropriate price points.
The Letter of Intent between All Asia and its proposed joint venture partner is subject to change, completion of due diligence by both parties, the creation of a final contract and approval of both Boards of Directors, among other things.
All Asia Licensing Inc. is a major conduit for investors to access the rapidly growing Chinese economy. By acquiring a controlling stake in unique Chinese businesses, using its contacts to work with governmental agencies, providing capital and international-minded management, the Company enables these companies to prosper in their own industries. Working with small-to-medium sized companies, All Asia assists clients by using a comprehensive suite of services of business management, consulting services and technical support through specialist networks.
For more information, contact our Investor Relations:
Tel: +1866 575 6854
Email: ir@allasialicensing.com
Safe Harbor Statement:
“Safe Harbor Statement” Under the Private Securities Litigation Reform Act of 1995:
Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements include, without limitation, statements concerning the impact of the settlement agreement on our future business prospects and our ability to successfully complete the commercialization of the Netsweeper products in China. These forward- looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include the risk that the settlement agreement will not produce the results we intend and all of the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, as well as other risks and uncertainties affecting the Company), included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov. We disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events, or otherwise.
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