SOURCE: Ticketcart, Inc.

January 24, 2007 16:57 ET

TKTC Signs LOI to Acquire Tieli Xiaoxinganlin Frog Breeding Co. Ltd.

NEW YORK, NY -- (MARKET WIRE) -- January 24, 2007 -- Ticketcart, Inc. (PINKSHEETS: TKTC) ("TKTC") (the "Company") has signed a Letter of Intent to acquire Tieli Xiaoxinganlin Frog Breeding Co. Ltd., a company registered in the People Republic of China that is a wholly owned subsidiary of American SXAN Biotech, Inc. ("SXAN"), a Delaware Corporation, on Jan. 23, 2007.

The closing of the merger is contingent on approval from the Board of Directors of CHAT and SXAN along with the satisfactory exchange of due diligence materials between the two parties.

"We believe this transaction will increase our shareholders' value," stated Miss Arlene Basallaje, CEO of TKTC. "SXAN specializes in genetic breeding technology for China's forest frogs. With this technology, the company has applied and been granted national patents to forest frog-derived nutritional supplements, including wines and tonics."

"If the merger closes, we will be able to able to leverage the US publicly listed company status to help us reach our developmental goals," stated Mr. Feng Zhenxing, Chairman and CEO of Tieli Xiaoxinganlin Frog Breeding Co., Ltd. "For thousands years, Northeastern Forest Frog has been touted as a top nutritional supplement. Our company is one of the first enterprises to achieve genetic breeding technology for China's forest frogs. With this technology, we can produce more forest frog derived nutritional supplements to meet the increasing market demand," added Mr. Feng.

ABOUT Ticketcart, Inc. (PINKSHEETS: TKCT)

The Company, Ticketcart, Inc., a Nevada Corporation, was involved in the sale of ink-jet cartridges online. They offered quality remanufactured and compatible cartridges for Hewlett-Packard, Epson, Lexmark, and Canon inkjet printers.

ABOUT Tieli Xiaoxinganlin Frog Breeding Co. Ltd. (SXAN)

The company, located in Tilie, Yichun City of Helongjiang province, was registered under the law of the Republic of China. After 7 years of research and development, the company has become one of the first enterprises with genetic breeding technology for China's forest frogs. With this technology, the company have applied and been granted national patents for forest frog-derived nutritional supplemental products, including wines and tonics.

Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail partners, and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time.

Contact Information

  • Press Contact:

    For Ticketcart, Inc.
    Rob Heller
    (619) 280-8968

    American SXAN Biotech, Inc.
    Peter D. Zhou
    (212) 232-0120 x230