Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) shares were up 10.04% to $0.537 after the company shared its new development and marketing deal. The company has a market cap of $97.34 million at 181.28 million shares outstanding. Share prices have been trading in a 52-week range of $0.19 to $0.59.
Lotus Bio-Technology Development Corp, formerly Starflick.Com, is a company that is focused on pursuing the refining of organic materials to produce natural consumer products. It has not commenced its planned principal operations but has been active to establish business relationships with movie distributors and resellers.
A couple of months ago, the company announced that it has struck an exclusive deal with Hunan Cangshi Biological Technology Co. Ltd., which is a developer, producer, and proprietor of various organic-based consumer-related products. This deal was made as part of the efforts of Lotus Bio-Technology Development Corp to boost sales and solidify its position in the industry.
According to Lotus Bio-Technology Development Corp President Michael Palethorpe, this deal represents a turning point for the company since the companies are aligned in terms of producing natural and sustainable consumer related products. He added that this synergy will help them boost their international efforts.
In particular, Lotus will focus on following the refining of organic components to produce natural consumer goods and continue its efforts in looking for movie distribution channels in order to advance a subscription-based service for clients to view autonomous filmmaker movies.
The terms of the agreement state that both companies are bound to jointly promote the entire product and service lines of Hunan Cangshi Biological Technology, with Lotus primarily engaged in its extensive marketing strategy. On the other hand, Hunan Cangshi will be responsible for the development, production, and provision of all the products and services under the terms of the agreement to boost the Chinese market for sustainable organic-based products.
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