Business
GOOD LIFE CHINA (GLCC) CORPORATE UPDATE
GOOD LIFE CHINA (GLCC) CORPORATE UPDATE.
About this update from Good Life China Corporation
[{"type":"text","content":"May, 20, 2008. Mr.Yang a spokesperson for the company and majority shareholders of GLCC would like to use this opportunity to address the rapid share price decline of the GLCC share price. \"I would like to first bring attention to our previous news release of May 10 2008. Our position remains the same. We would also like to use this opportunity to advise our followers, and shareholders that we are very disturbed by these events and this rapid decline in our share price, which cause and origin is both alien and unknown to us. To that end, we wish to make the following statement and a commitment to our loyal shareholders. \n\nContrary to the rumours that are wildly being spread, the company is not diluting, nor the principals of GLCC, or its advisors. The company is not engaged in the sale of shares and the decline of our share price. Our best guess is that these sales are coming from the current and existing shareholders of the company when the company was named The League Publishing. Our best educated guess is that the float is in the mid 20 million range due to the maturity of the common shareholders stock. Although we were advised to \"turn the tables\" and start with a fresh clean slate by reversing the stock when Good Life merged into GLCC (then TLGP) we were mindful, and compassionate to the retail shareholders needs that this is something they see as very undesirable. We now feel otherwise, and are beginning to understand the western quote \"no good deed goes unpunished\". \n\nWe have contacted our resident agent, and we are in the process of reducing our authorized share structure by 80% from the current 2,500,000 to about 500,000 shares or less. This should take effect shortly and be displayed on the Nevada State web site as soon as the filings are complete. To our shareholders we say that if this means that we have to reduce our authorized share structure yet again, for example to match our outstanding share count of about 169,000,000 we are prepared to do this as well. We wish to use this opportunity to remind our shareholders that all the stock received by the Good Life principals, and for the China assets of Asia Pacific, its principals and advisors; the stock this group received falls under the restricted category and does not and cannot trade on the open market. There appears to be some organized campaign against ...