Hinto Energy, Inc. (OTC:HENI) announced the acquisition of assets related to a novel treatment for fibromyalgia, JF-100, from JF BioPharma Inc. The agreement, dated March 6, 2023, involves the issuance of 1,000,000 shares of preferred C stock. JF-100 aims to address three root causes of fibromyalgia by modulating the endocannabinoid system, reducing oxidative stress, and enhancing mitochondrial energy production. A Phase 2 clinical study is planned to establish optimal dosing, leading to a subsequent Phase 3 trial. Global prevalence of fibromyalgia affects 4% of the population, predominantly women aged 20-50.
Hinto Energy, Inc. (OTCQB:HENI) announced a significant change of control due to the sale of Series A Preferred shares from Synergy Management Group LLC to JF Biopharma, Inc. This transaction, expected to close by month-end March 2023, gives JF Biopharma voting control over Hinto Energy. New management has been appointed, including Jason Frankovich as Director and David Conkling as VP of Business Development. The company aims to shift its focus towards biotechnology, planning multiple acquisitions. A name and symbol change will also be submitted to FINRA soon.