Item 7.01 REGULATION FD DISCLOSURE
As we are preparing our past quarterly and annual reports to become current, the Company wishes to update and disclose its current corporate and financing activities.
On
The Company, through Saffron Tech, plans to roll out its proof of concept in the coming months. This technology will provide turnkey automated growing containers for high-quality, high-yield saffron all year round. The Company is in advanced stages of developing and testing a fully automated and remotely managed system for growing high-quality, high-yield saffron anywhere and anytime.
The Company's technology offers a controlled environment based on the Company's deep knowledge in plant biology. The technology provides optimal conditions for each stage of the plant's development to reach optimal product quality.
The Company's proof of concept utilizes the "Grow Next to Consumer" policy and is therefore sustainable and fit the COVID-19 restrictions on transport. It is also environmentally friendly, using economic levels of water, space, fertilizer, and energy. Accounting to the Company's calculations, we believe that the controlled indoor growing area will produce ten times more yield compared to the same land area using traditional methods. The sealed environment eliminates the need for harmful pesticides and herbicides, producing a clean and safe product that is easy to control from anywhere. The Company's solution is easily scalable and pre-designed to quickly grow operations.
Saffron is used in many industries, such as the food industry, particularly by famous chefs and Michelin starred restaurants, the natural cosmetics industry and the natural medicine industry and as a dye in the textile industry. Medicinal claims as an anti-depressant, antioxidant, and antiseptic are constantly increasing.
The global saffron market size was valued at
Since the incorporation Saffron Tech, Saffron Tech has hired one employee and
several consultants to commence the roll out of our proof of concept. Saffron
Tech has signed several agreements with Israeli companies, including
CONVERTIBLE PROMISSORY NOTES
During November and
CROWD FUNDING:
On
Management will disclose relevant information as we progress in our activities and bring the Company current in its filings.
Item 9.01 Exhibits (d) Exhibits. 10.1 Promissory Note. 1
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