On December 27, 2013, Soleil Capital L.P. entered into a patent acquisition agreement, by and among Soleil and Guocheng "Greg" Pan, a natural person, pursuant to which Soleil agreed to purchase certain electronic cigarette patents owned and invented by Mr. Pan. In connection with and subsequent to the Purchase agreement by and between Soleil and Mr. Greg Pan and contemporaneous to Mr. Laufer's resignation from his respective positions with the company and its general partner, effective 10 days following the mailing of the company's schedule 14f1 to its shareholders, Mr. Laufer has appointed Jon Pan, President and Chief Executive Officer of the company and as a manager of its general partner Soleil Capital Management LLC and has appointed Greg Pan non-executive Chairman of the board of directors of Soleil Capital LP and its general partner, Soleil Capital Management LLC. Mr. Greg Pan PhD, 56, was appointed non-executive Chairman of the company and its general partner on December 26, 2013.

Mr. Pan currently serves as chief executive officer and president of China Hanking Holdings and Chairman of GreenWorld Technologies. Mr. Jonathan Pan, 25, was appointed Chief Executive Officer and President of the company and managing director of its general partner on December 26, 2013. Mr. Pan, recently served as Vice President for Beijing GreenWorld Technologies Ltd.