Citrine Global Corp’s Financial Condition Analysis (Form 10-Q)

Understanding Forward-Looking Statements in Our Quarterly Report

This Quarterly Report on Form 10-Q encompasses specific forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 along with other Federal securities regulations, which are safeguarded by the provisions established by such regulations. You can often recognize forward-looking statements through phrases like “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” as well as their negatives or variations. The statements and implications presented are predictions that are inherently influenced by known and unknown risks, uncertainties, assumptions, and a range of other factors that could cause actual results, performance levels, activities, or achievements to diverge significantly from those anticipated by the forward-looking statements. Unless legally mandated, we do not commit to publicly disclosing any revisions to these forward-looking statements that might occur after this date or subsequent to unforeseen events. For a deeper understanding of potential factors that could impact our business, please refer to the “Risk Factors” section in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ending December 31, 2021, filed with the Securities and Exchange Commission on April 8, 2022. Readers are also strongly encouraged to thoroughly review the disclosures made in that report. In this quarterly report, terms like “we,” “us,” “our,” “the Company,” and “Citrine” refer to Citrine Global, Corp. and its wholly-owned subsidiary, Citrine Global Israel Ltd., unless the context specifies otherwise.

Strategic Company Overview

We are committed to enhancing wellness through plant-based solutions and pharmaceutical products. Our core business revolves around developing innovative wellness and pharmaceutical solutions centered on scientifically validated plant-based products designed to enhance quality of life. We also focus on complementary solutions aimed at alleviating side effects stemming from medications, treatments, or an imbalanced lifestyle.

The global health and wellness market is projected to soar to USD 7.6 trillion by 2030, reflecting a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030. This growth is driven by the increasing public awareness regarding health and wellness solutions aimed at enhancing the quality of life. The recent global COVID-19 pandemic has further underscored the importance of health and well-being in the public’s consciousness. People are increasingly recognizing the necessity of taking charge of their health, seeking to improve their quality of life through natural products, and managing the adverse effects associated with medications and treatments.

We firmly believe in the transformative potential of plant-based solutions derived from nature to foster improvements in health and overall quality of life.

Our aim is to introduce a variety of plant-based wellness and pharmaceutical products to the market. These include nutritional supplements, healthful beverages, and natural cosmetics that are specifically formulated to enhance health and quality of life while also addressing side effects related to medications, treatments, or an unbalanced lifestyle.

1 Research, P., 2022. Health and Wellness Market Size to Hit USD 7,656.7 Bn by 2030. [online] GlobeNewswire News Room.

2 NielsenIQ. 2022. An inside look into the 2021 global consumer health and wellness revolution. [online]

3 Sullivan, F., 2022. Increasing Health Consciousness Among Consumers to Shift the Global Prebiotic Ingredients Market. [online] Prnewswire.com.

Innovative Product Development Strategies

Research indicates that complementary products can effectively mitigate side effects associated with medicinal treatments. For instance, probiotics and natural nutritional supplements are frequently recommended as adjuncts to counterbalance the side effects of antibiotics.

By leveraging cutting-edge technology and rigorous research methodologies, we are dedicated to developing a diverse portfolio of products grounded in scientific inquiry. Our offerings include synergistic botanicals, herbal extract tinctures, medicinal mushrooms, and various plant extracts, vitamins, minerals, and botanical formulations derived from seeds, roots, bark, fruits, and a multitude of plants known for their supportive health properties. These supportive effects encompass a range of benefits, including oral care enhancement, anti-inflammatory properties, relaxation, sleep improvement, energy boosting, mood stabilization, and alleviating side effects.

Our corporate headquarters and senior management team are located in Israel, where we operate through our fully owned subsidiary, Citrine Global Israel Ltd., as well as our 60%-owned subsidiary, Cannovation Center Israel Ltd..

Our team comprises experienced professionals and partners who are recognized leaders in their fields, boasting proven track records as top-tier business executives in technology, biotech, investments, entrepreneurship, real estate, and finance. We are supported by a skilled and experienced group of primary shareholders, including Citrine S A L Investment & Technologies, who play a crucial role in our company’s growth and success.

Our strategic presence in Israel, coupled with our close collaborations with leading universities, researchers, companies, and government entities, empowers us to access the latest technologies, talent, and innovative solutions to effectively penetrate the global market.

Our mission involves harnessing the power of plant-based solutions derived from nature to enhance health and quality of life on a global scale. We are dedicated to launching innovative plant-based wellness and pharmaceutical solutions that span the entire spectrum of research and development, product innovation, manufacturing infrastructure, distribution, marketing, and sales.

To realize our mission, we have devised multi-faceted strategies, including:

Launching Innovative Plant-Based Wellness and Pharma Products

We are actively developing a range of plant-based solutions aimed at improving quality of life, as well as complementary solutions that help balance the side effects of medications, treatments, or unhealthy lifestyles.

We have successfully created numerous formulations and product lines under the brand names Green Side by Side™ and GreenFeels™. These product lines encompass various formats, including herbal remedies, medicinal mushrooms, vitamins, minerals, and a selection of researched plants renowned for their healing properties. Our formulations contain a variety of substances that possess anti-inflammatory effects and offer health-supportive benefits such as relaxation, sleep enhancement, energy boosting, mood stabilization, oral care improvement, and mitigation of side effects.

Our product lines encompass the following categories:

? Oral Cavity Care Product Line

? Medicinal Mushrooms Product Line

? Booster Product Line

? Personal Protection Product Line

? Balance & Calm Product Line

4 N.A.Kerna, 2018, A complementary medicine approach to augmenting antibiotic therapy current practices in the use of probiotics during antibiotic therapy, International Journal of Complementary & Alternative Medicine.

Manufacturing Excellence in Israel

We produce our products in Israel at iBOT Israel Botanicals (iBOT), a GMP-certified manufacturing facility recognized by the Israeli Ministry of Health. iBOT is a related entity, and we maintain strategic agreements with them. As we prepare to market our products in the US, iBOT has already secured FDA approval for exporting our products to the US market.

Strategic Go-to-Market Initiatives and Revenue Generation Plans

Our approach to revenue generation encompasses the sale of our product lines and brands while also building a global network through local teams, subsidiaries, and strategic partnerships with distributors, retail chains, and pharmacy networks. Additionally, we are exploring mergers and acquisitions of distribution companies to strengthen our market presence.

We are poised to launch a comprehensive range of product lines into the wellness sector, offering various formats, including nutritional supplements, herbal products, medicinal mushrooms, vitamins, minerals, and a diverse array of researched plants known for their healing properties. These plants contain substances with various anti-inflammatory effects and a range of health-supportive benefits, including relaxation, sleep enhancement, energy boosting, mood stabilization, oral care enhancement, and alleviating side effects. In our initial efforts, we have commenced beta-testing several products within the Israeli market and are working to establish suitable distribution and marketing networks on a global scale.

We are implementing multiple business models to sell our products through diverse distribution channels, including digital direct sales, online retail platforms, and physical retail establishments, encompassing food, drug, and mass merchandise retail networks. Currently, our focus is on building a B2B distribution network globally with select local partners who will manage importation, distribution, marketing, and sales while adhering to local regulatory requirements.

We have strategically tailored our product lines and brands for the growing market of plant-based wellness and pharmaceutical natural products, including nutraceuticals, natural superfoods, healthful beverages, cosmetics, the legal cannabis sector, and the botanical and plant-derived pharmaceutical markets.

Market Trends and Projections

? The nutritional supplements market is expected to reach USD 624.7 billion by 2030.

? The superfoods market is projected to reach USD 287.7 billion by 2027.

? The legal cannabis market is anticipated to reach USD 70.6 billion</money by 2028.

? The botanical and plant-derived drug market is expected to grow to USD 53 billion</money by 2026.

? The natural cosmetics market is forecasted to reach USD 20.8 billion</money by 2027.

Intellectual Property and R&D Strategies

Our intellectual property (IP) strategy and research and development (R&D) roadmap focus on creating plant-based wellness and pharmaceutical solutions, expanding our patent portfolio, conducting clinical trials, navigating regulatory approvals, and launching innovative products in the market.

We have already submitted several provisional patent applications, as outlined below, and we are committed to building a robust patent portfolio.

5 Research, P., 2022. Nutritional Supplements Market to Hit US$ 624.7 Billion by 2030. [online] GlobeNewswire News Room

6 Industry Research, 2022. Global Superfoods Market Size is Projected To Reach US$ 287.75 Billion by 2027 [online]

7 Grandviewresearch.com. 2022. Legal Marijuana Market Size Worth $70.6 Billion By 2028. [online]

8 2018-2026, G. and 2018-2026, G., 2022. Botanical and Plant Derivative Drug Market – Global Forecast 2018-2026. [online] Inkwood Research

9 Mynewsdesk. 2022. Vegan Cosmetics Market is Growing at 6.9% CAGR, Market Size, Share, Statistics, Cosmetics Industry Trends, Leading Company Profiles, Forecast & Estimations to 2027. [online]

Advancing Our Product Development

Our strategy encompasses the development of wellness, over-the-counter (OTC) product lines and plant-based medicines for the botanical and plant-derived drug market, which includes:

  ? Creating a diverse product portfolio based on rigorous scientific research that includes synergistic botanicals, herbal extract tinctures, medicinal mushrooms, and various plant extracts. These products will encompass health-supportive effects, such as enhancing oral care, anti-inflammatory properties, relaxation, sleep enhancement, energy boosting, mood stabilization, and alleviating side effects.

  ? Researching and innovating complementary solutions designed to balance selected effects resulting from medications, treatments, cannabis use, aging, stress, and unhealthy lifestyles. A wide range of medications and treatments can result in common side effects, including dryness in the oral cavity (xerostomia), headaches, dizziness, drowsiness, fatigue, nausea, vomiting, lack of concentration, and impaired appetite. This area of public health is garnering increasing attention given the growing pharmaceutical industry and the widespread availability of various drugs and treatments globally. Current studies indicate that the majority of drugs exhibit multiple side effects, with 69% having between 10 and 100 different side effects, and 22% of drugs recording over 100 side effects, while only 9% have fewer than 10 side effects.

The public health implications of potential harms related to medications and treatments are increasingly becoming a focal point of investigation, particularly in light of the expanding pharmaceutical industry and the prevalent accessibility of diverse medical therapies worldwide. For example, studies exploring the correlation between drug side effects and therapeutic benefits reveal that a significant percentage of medications are associated with multiple side effects.

Our research and development program includes:

  ? Developing a comprehensive portfolio of wellness plant-based products and brands, founded on scientific research related to various plants such as herbal extracts, medicinal mushrooms, and other natural ingredients.
  ? Innovating complementary products and brands aimed at counterbalancing selected side effects associated with medications, treatments, cannabis use, aging, stress, and unhealthy lifestyles.
  ? Engaging in research and development to create pharmaceutical solutions focused on plant-based medicines and botanical drugs.
  ? Expanding our patent portfolio.
  ? Establishing a robust clinical trials program.
  ? Registering products for regulatory approval.
  ? Developing the infrastructure for production and innovation centers to strengthen our competitive edge in the wellness and pharmaceutical sectors.

Provisional Patent Applications for Innovative Solutions

To support our IP strategy aimed at building a comprehensive patent portfolio, we have filed several provisional patent applications, detailed as follows:

In October 2022, we submitted a provisional patent application titled “COMPOSITIONS AND METHODS FOR TREATING, AMELIORATING, ALLEVIATING, MITIGATING OR BALANCING SIDE-EFFECTS ASSOCIATED WITH THE USE OF MEDICINES, TREATMENTS, AGING, CANNABIS, AND UNBALANCED OR UNHEALTHY LIFESTYLE,” patent No: 63/418,046 with the U.S. Patent & Trademark Office. This patent application outlines common side effects associated with medications, treatments, aging, cannabis use, and unhealthy lifestyles, including dryness in the oral cavity (xerostomia), headaches, dizziness, drowsiness, fatigue, nausea, vomiting, lack of concentration, and impaired appetite. This concern is becoming increasingly relevant as chronic diseases rise and cannabis becomes more widely available globally. The patent application addresses the need for treatments and methods to alleviate, mitigate, or balance these side effects, providing solutions for individuals facing these challenges.

10 P. Zhang, F. Wang, J. Hu, and R. 2013, Exploring the Relationship Between Drug Side-Effects and Therapeutic Indications, PubMed Central, PMCID: PMC3900166; PMID: 24551427

Innovative Provisional Patent Applications

This provisional patent application extends our previous provisional patent application filed in October 2021 for “PHARMACEUTICAL COMPOSITIONS AND METHODS FOR THE TREATMENT OF SIDE-EFFECTS ASSOCIATED WITH THE USE OF CANNABIS, CANNABINOIDS AND RELATED PRODUCTS,” patent No: 63/257,673 with the U.S. Patent & Trademark Office. This application describes specific side effects related to cannabis use and the associated needs, technologies, and solutions to assist medical cannabis users experiencing treatment-related side effects.

In July 2022, we submitted a provisional patent application titled “COMPOSITIONS AND METHODS FOR TREATING, AMELIORATING, ALLEVIATING, MITIGATING OR BALANCING SIDE-EFFECTS IN THE ORAL CAVITY ASSOCIATED WITH THE USE OF MEDICINES, TREATMENTS, AGING OR UNBALANCED/UNHEALTHY LIFESTYLE,” patent No: 63/388,361 with the U.S. Patent & Trademark Office. This application focuses on the need for treatments and methods to alleviate, mitigate, or balance oral cavity side effects associated with medications, treatments (such as chemotherapy), and beyond. It outlines technologies and solutions designed to support individuals dealing with treatment-related oral side effects. Oral cavity side effects are widely observed, with over one in four individuals in the general population experiencing dry mouth, and higher rates noted in studies involving the elderly. Research indicates that symptoms related to the oral cavity can be influenced by various factors, including medications, treatments, aging, unhealthy lifestyles, chronic diseases, psychological factors, stress, and more.

Our patent application aims to address solutions for these side effects, aligning with our company’s strategy to introduce a wide range of plant-based wellness and pharmaceutical complementary solutions that specifically target side effects caused by medications, treatments, or unhealthy lifestyles. A pertinent example of complementary natural products is the use of probiotics to alleviate the side effects of antibiotics. Research indicates that probiotics, as natural food supplements, are recommended as an adjunct to counterbalance the side effects associated with antibiotic treatment.

We have developed product lines of sprays for the oral cavity, formulated as nutritional supplements that contain plant extract combinations derived from seeds, roots, and fruits, exhibiting active anti-inflammatory effects that stimulate saliva production and enhance taste balance within the oral cavity. Our products are manufactured under GMP certification by the Israeli Ministry of Health.

We have introduced our products to the Israeli market under the brand names:

SmokLy™ line of oral cavity sprays targeting dry mouth side effects, specifically aimed at cannabis users and tobacco smokers.

11 How Common is Dry Mouth? Systematic Review and Meta-Regression Analysis of Prevalence Estimates, Brazilian Dental Journal (2018) 29(6): 606-618

12 American Dental Association (ADA) Science & Research Institute, LLC Oral Health Topic: Xerostomia, Department of Scientific Information, Evidence Synthesis & Translation Research. Feb 2021

13 N.A.Kerna, 2018, A complementary medicine approach to augmenting antibiotic therapy current practices in the use of probiotics during antibiotic therapy, International Journal of Complementary & Alternative Medicine

Expanding Our Product Lines

And DryLess™ sprays for the oral cavity target the adult population experiencing chronic dry mouth, including patients undergoing certain cancer treatments who deal with persistent dry mouth as part of their treatment regimens.

We are dedicated to developing multiple lines of natural wellness and over-the-counter (OTC) product offerings for the botanical and plant-derived drug market, which is projected to reach $53 billion by 2026.

Creating the Green Vision Center for Production & Innovation in Plant-Based Wellness and Pharma Products

The Green Vision Center is a cornerstone of our strategy, aimed at establishing plant-based solutions that encompass the infrastructure, facilities, and activities necessary to research, develop, manufacture, and market innovative plant-based wellness and pharmaceutical products.

As consumer demand for plant-based products continues to rise across sectors like wellness, pharmaceuticals, cosmetics, and food, the Green Vision Center will be equipped with all the necessary facilities to effectively bring plant-based wellness and pharmaceutical products to market.

We have acquired 125,000 sq ft (11,687 sq meters) of industrial land in Yerucham, located in southern Israel, for the construction of Green Vision Center Israel, with significant support from the Israeli government. Approximately 90% of the acquisition cost was covered by government programs designed to promote industrial development, including additional grants and tax incentives. Green Vision Center Israel will feature an innovative design encompassing approximately 65,000 sq. ft. (5,800 sqm) and will include:

  ? Manufacturing facilities for botanicals and nutritional supplements
  ? Manufacturing facilities for pharmaceutical plant-based products and botanical drugs
  ? Manufacturing facilities for healthful snacks and beverages
  ? Manufacturing facilities for plant-based cosmetics
  ? Manufacturing facilities for medical cannabis and related products
  ? R&D laboratories for development, clinical studies, and quality control testing
  ? Distribution and global logistics center
  ? Management and consultant offices
  ? Conference, training, and visitor center

Green Vision Center Israel has been designed by Avner Sher, one of Israel’s most esteemed architects. The design features a unique lotus flower-shaped roof and will incorporate solar panels, adhering to ecological principles of energy conservation. A professional construction firm will oversee the center’s development.

Our mission is to emerge as a leading global production and innovation hub, fostering partnerships, collaborating with market leaders, and integrating technological and scientific advancements from <location value="LC/il" idsrc="https://news.google.com/__i/rss/rd/articles