All Asia Licensing Inc. (Pink Sheets: AASI) announced today the launch
of the first phase of a viable program in the agricultural biotechnology
sector with the signing of an $11 million joint venture agreement with
Beijing Xinxinshengda Biology Engineering Technology Co. Ltd. (BBET).
AASI will own 55% of the venture, named Fertilizer King, Inc. The new
joint venture company is to be financed by a private placement of a
combination of debt and equity. Fertilizer King’s plans are to assemble
several existing microbial and organic fertilizer plants in China and
convert them to produce Dr. Ma’s microbial fertilizers.
“The impetus for this venture coincides with the Chinese government’s
launch of the 70-year Green Great Wall project,” according to AASI
President Anthony Lee. “This involves the planting of a 2,800 mile
shelterbelt of trees across the northwest rim of China skirting the Gobi
Desert. Additional projects to make China greener involve the changing
of way farmers work their land. The National Reform and Development
Commission takes the position that the use of human and animal effluents
as fertilizer will be phased out. In addition, the wide use of chemical
fertilizers will be curtailed. A brand new genre of high-tech
fertilizers will eventually replace them,” Lee said.
Experiments in microbial fertilizers in space – via China’s launch of
its fifth satellite in its ambitious “Compass” global satellite
positioning system recently – is only the latest effort in the nation’s
fast developing space program. The “Beidou” or “Big Dipper” satellite
was launched from the Xichang Satellite Launch Centre in southwest
China’s Sichuan province and has already yielded an advanced biotech
line of fertilizers for BBET.
In a joint statement Lee and Dr. Ma Lintao of BBET said: “For many
years, we both have been looking for a suitable partner to help market
and promote these unique technology-based products worldwide. Today, we
formalize our previously announced intent to work together.”
The new venture will own a proprietary microbial fertilizer technology,
which is currently represented by an array of nine international
patents. Dr. Ma Lintao, the chief scientist and principal of BBET,
remarked, “Our products should be much sought after because a good
acreage of the world’s arable land has been damaged by the heavy
application of chemical fertilizers since the 1960s.
