Bon Natural Life Ltd (NASDAQ: BON), a Chinese company with headquarters in the Cayman Islands, is using a compound found in broccoli to help people get better sleep.
This week, Bon announced the debut of a sleep aid line that utilizes a patent-pending delivery system to enable the user to absorb the vegetable’s compound sulforaphane with greater efficiency than would otherwise be possible. How this supplement will be consumed was not specified.
This compound has a wide range of health benefits when it gets converted from another compound called glucoraphanin, Bon explained. The supplement developer’s patent-pending “Glucoraphanin-Myrosinase” delivery system makes this possible.
“It addresses critical unmet needs in sleep health and, we believe, is primed for rapid market adoption,” CEO Yongwei Hu boasted in a news release.
Sulforaphane can fight against cancer, reduce inflammation, aid the digestive system and promote improved rest. Multiple other companies sell oral supplements containing the antioxidant derivative.
“This breakthrough technology ensures optimal enzymatic activation within the body, achieving unprecedented conversion efficiency to bio-active sulforaphane,” Bon specified in a release from Apr. 8.
“By industrially solving the fundamental bio-availability issue, we’re positioned to revolutionize functional food applications.”
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Bon will most likely be de-listed from the Nasdaq
Within the past year, the natural health product distributor’s shares have plummeted by nearly 98 per cent. They are trading for a mere US$0.06 on a stock exchange with a US$1.00-dollar minimum share price requirement.
In a statement on May 2, Bon said that it had filed a notice of appeal and requested a hearing with Nasdaq officials in an attempt to continue trading, but the chances of being successful are highly questionable.
Bon completed a 1-for-25 reverse stock split last month to try and boost its share price and remedy the situation, but it didn’t help.
On a more positive note, Bon managed to secure a US$12-million-dollar supply agreement with another Chinese company called Shanghai Yunsheng last month. Together, they will be developing and distributing supplements made from a group of naturally occurring compounds found in apples.
In March, the supplement specialist announced a US$12-million-dollar securities offering, selling about 8.3 million Class A shares for US$1.44 apiece. Common stock was trading for US$0.61 when the offering was revealed on Mar. 17.
Bon’s market cap is currently sitting at approximately US$257,000, according to the most recent data available.
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