Jeffs' Brands Ltd (NASDAQ: JFBR) shares barely budged Tuesday, as the data-driven e-commerce company operating on the Amazon Marketplace, announced it has entered into a letter of intent (LOI) with SciSparc Ltd. (NASDAQ: SPRC), a specialty pharmaceutical and food supplements company, to establish a joint venture for the development of a new food supplements product line and its online marketing.
The LOI contemplates that the two companies will form a JV in which they each own 50%. The transaction will be subject to the negotiation and preparation of definitive documentation.
Upon entry into definitive documentation, Jeffs' Brands will be responsible for the online marketing of the products developed by SciSparc as part of the JV. Decisions regarding which products to develop will be made by the two companies and will be based on Jeffs' Brands' advanced technology analysis of in-demand products with potential high profitability.
Jeffs' purports to be “transforming the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential.” The press release concludes,
“Through our stellar team’s insight into the FBA Amazon business model, we’re using both human capability and advanced technology to take products to the next level.”
JFBR shares were pretty much unchanged to $1.90, while those for SPRC picked up two cents, or 1.9%, to $1.03.
