Business
Good Life China (GLCC) Update And Notice Of Consideration
Good Life China (GLCC) Update And Notice Of Consideration.
About this update from Good Life China Corporation
[{"type":"text","content":"May, 10 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. \"We have witnessed our share price decline in less than 3 months from 2/22/08 $ 1.051 to 05/09/2008 0.009 cents, while our supporters and majority shareholders were being handcuffed and unable to offer any support. \n\nWhat we mean by handcuffed is that almost immediately from the time GLCC began trading all of the \"on line\" trading platforms refused to accept buy and sell orders. We understand that some 70-80% orders are placed via on line traders in the small cap venue we are in. To compound the problem, current Chinese laws prohibit Chinese nationals from buying US based stocks which further restricted the support we anticipated. Our position has always been that our focus should be on operating the business and the share price to be left to the market forces. \n\nWe note that this entire decline took place on relatively small or negligible daily volumes. Some of the trading appears to be a deliberate act to bring our share price down, as we witnessed some sells going through at bellow the ask price. \n\nAttached hereto we have compiled a chart for our shareholders to view and decide for themselves. We have applied the highest price in our calculations which indicate that a total of $298,152.75 (and probably more closer to half that amount) eroded about 50 million dollars of value off of our books. Just to bring everything in focus the current \"valuation\" or market cap (based on the current share price value) indicates a valuation of GLCC at 1.5 million dollars. \n\nThis sum is less than the value of some of our equipment and chattels, that is scattered throughout our network. The actual business value is nowhere reflected in our share price. Several of our backers and shareholders tell us that their accounts were abruptly closed with no explanation provided when they attempted to trade GLCC. Moreover, our filings were twice rejected and we were subjected to re file the same document again. \n\nWe were asked to rewrite essentially the same document from the past tense to current tense which we have done, and filed yet to this date the \"limited Information\" ranking still shows on our symbol despite our numerous requests for an update. ...