NEWS!!!
"DRAGONITE INT'L (00329.HK) announced, with reference to the company in discussion with major international tobacco companies for the possible disposal of the group’s Ruyan electronic cigarettes business, that it is also in discussion to engage a major international investment bank for the aforesaid possible disposal. However, no agreement has been entered into.
Save for the above, the company is not aware of any reasons behind the recent increase in stock price. The company's stock closed early session up 8.79% at $0.099."
This news may have been part of the reason why the stock has been moving up lately. Remember, Blu Cig corp was taken out with a $145 million dollar bid by Philip Morris. Dragonite owns Ruyan, which itself owns the only two USA patents for the electronic cigarette technology. While the Ruyan business has been recently operating at a loss, the patents still are worth something to big tobacco. Owning the patents for ecig tech would enable them to crush the smaller ecig companies popping up all over the world. So there is a possibility that big tobacco could make a considerable bid for Ruyan and Dragonite could then be flush with cash as an investment firm. We will have to wait to see. However because the DGTLF price is correlated to the HK : 329 share price, even without any trading we could see the price move up dramatically at some point should a deal be made to buyout Ruyan by big tobacco. Also note, the current price is wrong because of the previous R/S, it should be 5 times higher, so at $0.055, not $0.011.
GLTA
