The present invention provides a chemical compound or a salt thereof having the chemical formula of: wherein said R is H or citrate and wherein at least one R is citrate. The salt of the chemical compound is the Na+, K+, Mg2+, or Ca2+ salt of said chemical compound. The chemical compound is a chelator which chelates sodium, potassium or lithium, magnesium, calcium, copper, iron, lead, zinc, aluminum, mercury, cadmium, or chromium. It is also be used as an artery plaque dissolver and/or to treat age-related degenerative disorders, such as Alzheimer's disease. The present invention also provides a method for producing the phytic citrate compound and/or its salt.