is not your daddy's uncle no matter what your sister says
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Thanks for your insight boodlebing it really has opened my mind.
Way to get new investors involved, just insult them.
Good Job, Keep them coming.
Or maybe your questions are just what they are. Questions???
just let me know how the conversion goes please. IMO you should have the answer before I do.
C'mon now iVan, it is all there for you.
As a shareholder of the HK, you should be more well versed in this than most. What gives?
I saw all those forms that had to be filled out, that must have been crazy.
So you will tell us when you are notified? Please?
It really would be a shame if this is 4bears doing. Hehehehehe. If it is, it's backfiring in his face. Fun to watch today. Plenty of carrion for the vultures to pick at LOL.
.08 now hmmmmmm. maybe a little pressure coming? I'll be interested to see the way this goes today. Right now fair value for the 329:HK is about .068 , for anyone playing at home.
Oh well for some reason I cannot seem to pull the rest of it out, but I urge anyone who is seriously interested in investing here to download the whole prospectus and give it a read. I was trying to post pages 80- 86 which give the whole story about Ruyan/Dragonite.
http://www.dragonite.com.hk/upload/news/1294655964_E329_CR.pdf
I also believe that the 2972:HK is only for the investors who don't already hold the rights shares. They are buying these shares with the premium to the 22 cents that the original holders already own. If I was buying those shares knowing I had to come up with 22 cents for every one purchased, I would not bid a lot either, that's why you're seeing the price action the way it is.
only half of it printed for some reason hold on
Ok, I just finished reading the prospectus for restructuring again. It takes a little while as there are 100+ pages.
http://www.dragonite.com.hk/upload/news/1294655964_E329_CR.pdf
In the appendix, I gathered some interesting info regarding the e-cig side of the biz. They took a big hit last year, but in light of the new information 2011 looks very good to me. Here is the story-----------------------------------------------------------------------------
6. BUSINESS REVIEW FOR THE YEAR ENDED 31 DECEMBER 2009
BUSINESS REVIEW
2009 was an extremely difficult year for the Group. As a result of the poor
financial performance, the Group faced serious financial problems and was unable to
meet full payment of the scheduled redemption under the amended terms of the
convertible bonds of the Group.
Turnover of the Group for the year ended 31 December 2009 decreased by
76. 99% to approximately HK$97, 586, 000. Except for the reason of the global financial
crisis, the decrease in turnover was mainly due to the following reasons:
a) The marketing and advertising activities in relation to the Group’s electronic
cigarette products throughout the year were reduced as compared with
previous years. In particular, advertisement and promotion on television were
reduced in order to save costs.
b) The sales of electronic cigarettes products declined as a result of the
growing threat from counterfeit brands and new regulatory restriction
imposed against import of electronic cigarettes products by some overseas
countries including but not limited to North America and Israel. Moreover,
as quality issue happened in one of our electronic cigarettes products in
September 2009, sales return was recorded in the second half of 2009.
c) In October 2009, the Good Manufacturing Practices (“GMP”) license of the
Group’s factory in Shenyang for health care products expired and the Group
failed to renew the license immediately, leading to return of goods from
customers during October to December 2009. The GMP licence was
subsequently renewed in February 2010.
Loss for the year 2009 increased by 169. 62% to approximately HK$443, 907, 000
and was mainly attributed to the following adverse factors:
1. Provision for impairment of inventory at about HK$191, 706, 000 was made
as a result of technical or commercial obsolescence. Provision was also made
for the returned electronic cigarette products and pharmaceutical products
due to quality or licensing issues mentioned above.
2. Impairment loss on trade receivables in the amount of HK$78, 904, 000 was
made. It was mainly related to the customers with long outstanding balances.
As mentioned above, quality issue happened in our electronic cigarette
business and the Group failed to renew the GMP license of its factory
immediately after its expiry during the year. As a result, customers have
once lost confidence in the Company’s products and a number of customers
have delayed or even refused to settle their outstanding balances. It is
APPENDIX I FINANCIAL INFORMATION OF THE GROUP
– 81 –
expected that the Group will commence legal proceedings against such
customers in order to recover the receivables if the situation does not
improve in the coming year.
3. Impairment loss on property, plant and equipment and intangible assets in
the amount of HK$20 million was made. It was mainly resulted from the
continuing deterioration in the business of the Group due to the decline in
turnover, customers’ purchase orders, production scale and customer
confidence as a consequence of the financial crisis and the factors mentioned
above. The decline in production scale significantly reduced the recoverable
amounts of the fixed assets which is much lower than their carrying value.
Since 2008, various well-known multinational corporations of health care products
have established their branch factories in the PRC by way of, among others,
acquisition, mergers and leasing. At present, about 400 imported health care foods have
been approved and launched in the PRC, generating a great competitive force. Although
we are facing a very competitive market situation and the sales volume of health care
products declined due to the fact that the GMP license of our factory temporarily
expired in October 2009, we will strengthen management of our sales team and develop
the sales market, while leveraging on the products and brand advantages of the
Company and actively search for the sole agents and regional agents for our products
with traditional features. By making better use of our agents, network and mechanism,
the sales volume of products is expected to increase in future.
As for the pharmaceutical business, the Essential Medicine List being introduced
by the national authority brought mingled hope and fear for pharmaceutical enterprises.
Azithromycin Granules (II), a pharmaceutical product of the Group, has been listed in
the National List of Essential Drugs (2009 Edition). The sales market has been
developed and a new niche for profit growth of the Company is formed.
In 2009, the sales of electronic cigarettes products declined significantly as a
result of the growing threat from counterfeit brands and new regulatory restriction
imposed on the importation of electronic cigarettes products in some overseas markets.
The regulatory status for the Company’s electronic cigarette around the world is
constantly shifting. Classifications and enforcement range from free sales as a smoking
alternative to outright bans. In the United States (the “US”), import of electronic
cigarettes has not been fully resumed after restrictions were imposed in mid-2009 by
the US Customs. Future regulations and related enforcement for this market may
change again. Nevertheless, the Group has worked closely with partners and
governments to launch core products, explore new markets, strengthen patent
protection, address regulatory concerns and compete with illicit brands and
manufacturers. As a result, distribution business in North America, the United
Kingdom, France, Korea, Malaysia, Israel, Scandinavia, and Greece was improved; and
regulatory approvals were obtained in France, Spain, Italy, Germany, Sweden, Japan,
Russia, Malaysia, Australia and other countries.
APPENDIX I FINANCIAL INFORMATION OF THE GROUP
– 82 –
Invention patents were granted in Israel during the Year 2009. Additional lawsuits
against illicit manufacturers and vendors of electronic cigarettes were initiated in PRC
and some of the lawsuits were concluded in favour to the Group. Significantly, the
patents of a substantial number of counterfeit manufacturers were also invalidated by
the Chinese Patent Authority, due to violations of the Company’s own patents in the
PRC.
PRODUCT DEVELOPMENT
Azithromycin Granules (II), a pharmaceutical product of the Company, has been
listed in the National List of Essential Drugs (2009 Edition). The sales of this product
experienced significant growth which forms a new niche for profit growth of the
Company. Rosiglitazone Hydrochloride Capsules is the only product among other
succeeded in bidding with sales that is expected to grow further. We are confident in
the market sales in 2010.
The Company continues to market the “one-time” use RUYAN Jazz
now I know what boodleses has in his pocketses.sssss
Cool, nice pacer docs. They're going after Blu.
BUT ITS NOT VPCO !!!!!
that is the other I thought they had named.
My apologies, for I had misstated that recently.
I was corrected by rattlewatch. on that board.
I felt the same way....But yet no one in their right mind could have predicted how this season would go. Its going to be a great finish.
I stated here a long time ago while others were posting, "everyone else is selling this and that, why don't we". I always thought it was because Tom did not to want to create any waves for himself as his team pushed on the FDA. This IMO takes a long time......
Other's just assume there is no product because its easier than having to do real DD.
I don't think its a pipe dream by any means. The only one to get approval, maybe not.... BUT, the FIRST one to get approval, would be very nice. I will hold a core position here as long as it takes.
and on a lighter note.....I think somewhere upstairs there's one heckuva party goin' on
Pappa Bear George Halas.
THE Coach Vince Lombardi
I could go on and on.
This is going to be one for the books. Can't wait to see it happen!!
No prob, I just wish I would have noticed this stock before it hit the springboard LOL.
I only found this law suit through my DD on the Chinese company. IMO They might be worth a look as well (US PATENT) but Its a complicated situation right now.
Cool Toc, and it seems if I'm in a pinch I could jump start my car with that thing as well. hehehehehe
The bill's sponsor, Assemblywoman Nancy Munoz, a Republican from Summit, said the restrictions are a matter of erring on the side of caution because the health risks associated with e-cigarettes have not been fully determined.
Cool, sorry for the concern, I didn't realize how many e-cig companies there were in FL. I found Smoking Everywhere listed, guess they're in trouble. Good luck to you and thanks for pointing that out.
It looks like they misspelled the name but they got Florida right. They are also going after BLU.
http://www.dragonite.com.hk/upload/news/1294921360_EW0329ANN.pdf
So far it looks like they are seizing only certain shipments. Here is the FDA mandate...
http://www.accessdata.fda.gov/cms_ia/importalert_190.html
I've searched through the China section so far, and no mention of Ruyan or Dragonite. Feel free to search it as well.
The Chinese stock dropped 6 mos ago before the restructuring, not just last week!!!!
And once again I'm going to say that they have patents for and sell this product GLOBALLY. Since 2001 I might add also. Even if Ruyan's shipments are being seized, which I doubt, there are still plenty of other countries where they are not.
And that's probably why I can't find the American site for now . Here's the list of suppliers AGAIN
http://www.ruyan.com.cn/where_to_buy.jsp.
There are lots of other reasons that this stock is a good buy. I do not understand why the end all be all for most is the USA sales.. I wouldn't be shocked if Ruyan has not shipped a single pack here yet, until these patent cases get rolling. This is a Billion Dollar company, that hasn't needed to rely on US sales for anything in the past, so why should it be the "Holy Grail" now?
Honestly what's so damn good about this country. Most people here are just learning what an e-cig is and it's not like they are lining up in droves to buy them!!!
I purchased a Chinese stock that trades under an American symbol as well. I'll take my chances with the dozen patents or so. Including United States Patent 7832410 for the Electronic Atomization Cigarette.
Thanks for the warning though.
And now we can't be friends anymore until after next week McCheese LMAO.
Ok, what I just did was go to my images and copy the embed(ded) link. You should have already have the picture entered and cropped, or maximized which I will look into now.
Then you just paste that embed(ded) link in the signature window and voila. I like the big picture myself. Sweet Bike Man. Be careful on that thing.
In all honesty, I've got the mail out. I'm searching for the US distributor since ruyanamerica,com is non-existent. I'm expecting answers soon. Thanks for showing us this other direction.
TY thump..
Whoops. I sincerely apologize to you 4 4 . I was just trying to point out to other long term investors "like you" that everything is not usually what it seems. I hope I didn't cause any confusion in your camp.
Honestly, if you do your own research, and quit questioning the integrity of others and the company you are posting about, you wouldn't receive this kind of attention.
" Where ignorance is bliss, 'tis folly to be wise"
Good luck to you 4 4 .
Please don't ignore or ban this poster!!! They're merely uncovering skeletons, who doesn't want to see that? Spooky!!!!!!
Please show the JV docs, or at least where you found them, all I get from your link is an uninformative website. I'm still searching here as well.
Ty Louie, its tonight, might even be a CBIS sighting.
I should also mention that the out of the world price is not what it seems to be when you do the conversion as GW is UK based. Its been trading OTC here for around $1.70 a stub
GW Pharmaceutical is the one I think you are talking about. In CBIS early PR's they stated they wanted to pattern themselves after GW. I sure hope they can.
Oh yeah?
post 12496
That's what Yoda has been trying to calculate for us. IMO If they pull the restructuring off without a hitch, then set your limit high.
I'm really not a numbers guy, the bond thing was something I stumbled across, and I'm not sure if I was reading it correctly.
But what I do see here is a solid business model that was not so solid before. You would laugh if you saw the other two e-cig companies that we have for trading here in the states. I'm not saying they are bad, they are just far outshined by Dragonite's transparency, and one of them is about to get sued by Dragonite as well.
We have a holiday on Monday and DGTLF will suspend trading again on the 19th, With the time difference I believe that only leaves Tuesday to buy some of these .07's here in the states. Where it opens again in February I suppose is anyone's guess. I like to refer to Yoda's numbers though.
Good Luck, I hope all goes well with your HK shares.
P.S. all the current links I can gather, and the interim earnings report are in the info box at the top of the page. If you go to Dragonite's website, it's all there as well.
Maybe you can go to the VPCO board and warn them of the impending patent infringement case against them, that has no bearing on SFIO.
Here is another post that I took from an e-cig forum. It might help explain your drop from a different point of view besides my own.
BTW I was talking about your wheel and I was asking you to tempt me. Have you went back and read all your posts about this company? Oh, they're your only posts ......and those are all about as good as my last contribution. Any other 20 year old cases you can dig up? We might as well get it all out now since you are the info guy.
Broccoli Man has the weekend off, and you should take it too. Packers won I see, nice.
Smokefree is the way I want to be. Later 44
Maybe it is.......please don't tempt me
And the wheel on the bus goes round and round.................
How did you know
I do not know the extent of China's good stories.
From my standpoint it looks like the company was hurt by the "faux" brands and the fact that the FDA wouldn't allow any imports into the US.
They might have not had all the candy and roses that they were showing until now. The FDA was recently forced to lift their ban on imports that contain nicotine, and the patent is real now. Which might have not been the case 6 mo. ago.
AND IMO When they got that bid from PM, they realized what they really had. One last chance to give it to their "countrymen" before the plane leaves. If they are fighting for their patent they cannot play games anymore. I'm not sure how communist countries work, but they sure do act like capitalists LOL.
They diluted that whole friggin thing right under everyone's nose. But what happens if you complain in China?????? I know. Its not pretty.
The good part is they have no choice but to do it again, because there's too much demand and they can tap the US with that patent now. If you read the interim earnings statement I think you'll see that they are actually selling this as a secured bond with a price of 4.00 HK in May 2011. At least that's what I think I am reading, like I said I could be dead wrong.
But if I'm right then they are raising some MAJOR local capital for the next run to the top. I'm a fan of e-cigs for personal reasons. I just want to see one of these companies succeed for their shareholders and not for their own personal gains. RUYAN/DRAGONITE is soon to be in the spotlight. Only time will tell where they put the money.
As always, these are only my incessant ramblings. Please only take them for what they are
Good Luck to you and GO 329:HK
Some more "bad" news LOL. This usually means we are going up, hence the buzz.