Megola Inc (OTCMKTS:MGON) is best known for having put together a consortium of eco-friendly lines of products and health technologies. The company was in fact in the news on Monday after it announced that it had been successful in signing a definitive agreement with regards to the product lines, purchase, patent licenses, manufacturing and other assets of Medosol Global LLC.
Market Action
On Monday, MGON stock ended flat at $0.0080 with more than 691.95K shares, compared to its average volume of 230.37K shares. The stock moved within a range of $0.0025 – 0.0082 after opening trade at $0.0083.
Megola Acquires Revolutionary Durable Odor Control Coatings from Medesol Global LLC
It was a major new development for the company and the Chief Executive Officer of Megola Robert Gardiner said as much. He noted that it was hard to put in words how big it was going to be for the company.
Gardiner went on to add that the revolutionary patented technologies of Medosol and the expertise of the Megola management team will be able to expand the product sales to the global markets.
However, that was not all. The company also noted that it had made a major breakthrough in the field of odor control in relation to the use of personal hygiene products like adult diapers. The technology is protected with a patent and Megola holds the rights for commercializing the same in the American continent exclusively. It could well prove to be a considerable long term boost for Megola.
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