BEIJING, April 4 /PRNewswire-FirstCall/ -- Good Life China Corporation (TLGP) continues to move forward in North America and China.
Status of Ticker Symbol: The Company and its IR firm has been responding to various NASD queries regarding details of the recent reverse merger, and asset purchase on a timely fashion. The company acknowledges that its shareholders are anxious to see this new ticker symbol take place, and to see the company commence trading. The company believes that it will be receiving its long anticipated new ticker symbol shortly.
Status of Dividend: Once the ticker symbol is received, the company will be able to immediately issue share certificate related to its Sale and Purchase of Assets with MonArc Corporation - MONA.PK.
Status of North American operations: The "Cash Now" brand and licensing division has been re-branded to (http://www.moneylendingbusiness.com/). The licensed software offerings have been streamlined, and the division has recently introduced an innovative financing package that allows new licensees to finance their licenses through a third party underwriter.
For a small or home-based business, this is a major breakthrough. Many small business entrepreneurs struggle with providing the capital required to finance their small business. Money Lending Business.com now provides a turnkey licensing software package, training and back office support. When coupled with the ability to finance the purchase of the license over an extended period of time, the major hurdle and risk of a major cash outlay up front no longer exists.
Peter Tate, who heads up the division, reports: "This new financing opportunity completely changes the landscape for small business and home-based business operators. The cost of the new business is amortized over an extended period of time to help allow the licensees pay for the software, the hardware and equipment as they generate revenue from their new business. It makes it easier for entrepreneurs to get into a proven market sector without having to put all of their discretionary investment capital at risk."
Further updates regarding the company's Forex division, Check 21 and Chinese operations will be forthcoming shortly. Our shareholders may be pleasantly surprised once these results are issued.
In other company news, the company is currently assembling updated disclosure information for the first quarter of 2008, and is addressing some remaining disclosure requirements for the initial disclosure covering the two years ending December 31, 2007.
Year end statements for 2007 will also be submitted shortly for both Good Life (Haorizi China) operations as well as the results of North American operations. While these results were obtained before the recent reverse merger, and will be shown on an unconsolidated basis, Management believes they will be helpful for investors to assess the operating strengths of the companies at square one, immediately preceding the reverse merger.
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.
North American operations include a diversified number of online sub prime financial services. These included: the Payday Loan Software division; 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.
http://www.goodlifechina.com/
Good Life China
