BEIJING, May 21 /PRNewswire-FirstCall/ -- Good Life China Corporation (GLCC) http://www.goodlifechina.com/ (Good Life) is pleased to announce the launch and opening of 15 new stores as of May 13, 2008. From these 15 new stores, 2 are located in Cangzhou, 11 are located in Beijing, and 2 are located in Shijiazhuang. In addition, 15 new suppliers with audited on line transactions of Yuan 2155400.00 (about $310,000.00 USD) with a sum of distribution of Yuan 1,379,500.00 (or about $198,000.00 USD). Mr.Yang, Good Life spokesperson, said, "We will be making a series of these types of announcements with the dates of launch in the body of the release to allow our followers to manage the current hyper growth we are experiencing. We also wish to use this opportunity to advise our shareholders that the recent earthquake in China did not disrupt our operations as rumored, and although the whole country is in mourning this week we continue with business as usual.
"In other company news, and as further clarification to our announcement of May 20, 2008 Good Life has begun the process of reducing its authorized shares from 2.5 billion to 500 million shares. This act of reducing our authorized shares does not mean a stock split or a stock reverse as our critics charge. The stock split option was presented to us back in December 2007 which we now regret not following through with, as we remain mindful of our retail investors wishes. Be that as it may, this reduction of authorized shares is our way of demonstrating to our loyal shareholders that Good Life and its officers are not diluting as suggested to our IR representative. We have conducted an exhaustive research into our share structure and the previous operations of the entity. We have no doubts in our minds, that the past few months continuous sells which in effect created our share price decline, have all occurred from within our relatively old and large existing shareholder base. We are pleased to report that here in China, our current share price in USA is being ignored as nonsense by our customers, clients, patrons and those who simply visit our sprawling infrastructure and see for themselves the assets Good Life currently has in place, and the exceptional services and products we offer. Our financial statements speak for themselves.
"We are confident that once these impatient sellers sell out (if that is their intention), the market forces should take notice and begin correcting itself to accurately reflect our share price."
About Good Life China Corporation.
Good Life China Corporation operates a rapidly growing chain of franchised convenience stores based in Hebei Province, China. It employs advanced retail concepts such as e-commerce enabled POS/back office systems, and achieves significant economies of scale on the supply side of the business. It will be expanding geographically to neighboring Provinces, as well as offering a growing number of additional products and services, such as financial products, as it moves forward.
The Company's North American operations comprise a number of online sub prime financial services, including; the Money Lending Business.com; Forex Trading; and Advanced Electronic Funds Management.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Good Life China Corporation's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Good Life China Corporation's periodic reports filed with the regulatory authorities.
