BEIJING, June 13 /PRNewswire-FirstCall/ -- PINKSHEETS: GLCC http://www.goodlifechina.com/ Good Life China Corp today after the market closed announced that it has notified Cede Co and Penson of its notice of a dividend recall. The issuer recently issued approximately 12 million shares as a special 1 time 1:1 dividend payout to its shareholders. The issuer verily believes that its security is a subject of naked shorting activities, and that a large short position of its security exists. See: http://en.wikipedia.org/wiki/Naked_short_selling#Naked_shorts_in_the_United _States and http://www.investopedia.com/terms/n/nakedshorting.asp as an example of naked shorting. The situation is further exacerbated by circumstances beyond the issuer's control.
The issuer also today filed a copy of its recall notice with Pink Sheets http://www.pinksheets.com/pink/quote/quote.jsp?symbol=HKBV which is self explanatory.
To our shareholders, the recall of the dividend does not mean that the dividend is cancelled. It means the issuer intends to re-release these dividends back to its shareholders as soon as it has completed its share count audit and its mission to have and to force the short positions to cover. Moreover the issuer wants to insure that the re-distributed dividend, are properly distributed to its shareholders in accordance with the issuer's instructions.
The issuer's share count remains undisturbed at 450 million authorized and 169 million outstanding.
The issuer's security continues to be listed on the Rule 3210 with Nasdaq Trader (see link) as aggregates continuously fail to deliver its security. http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold The issuer is of the opinion that the abuse is excessive. The issuer is taking this and other soon to be announced steps to insure that the shorted stock is covered in accordance with the rules.
The company intends to take further steps as it sees fit, as per its previous news release of May 10, 2008 May 20, 2008 and June 10, 2008 including other LEGAL measures that may be available to its disposal to rein in these activities. The issuer, in order to restore its rapidly declined share price and in order to protect the interests of the issuer's common shareholders intends to take further steps without disrupting the trading activities of its security.
The issuer expects its determined critics aka (stock bashers) dressed up as "concerned shareholders" to be out in full force pending this announcement. The issuer brings the following link and AUDIO PRESENTATION to its true shareholders' attention which is self explanatory http://www.minamargroup.net/duallisting.php.
Contact: http://www.minamargroup.com/helpdesk
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
