BEIJING, Feb. 12 /PRNewswire-FirstCall/ - Good Life China Corporation http://www.goodlifechina.com today after the market closed is providing this summary of its initial preliminary 2008 year statements to keep investors abreast of continuing developments within the company.
Subsequent to the recent Chinese New Year, the Company has been working on its financial statements for the year ending December 31, 2008. With the change this past year in the company's business model, there have been a number of major adjustments to the accounting principles of the Company. The total amount of gross retail sales at the store level reached approximately $580 million dollars this past year 2008. This represents the value of all retail sales of goods and services purchased by end-consumers at retail.
The Company no longer purchases the goods and services sold from suppliers and distributors for resale on a wholesale basis, but instead generates commissions from both retail and wholesale members based on the value of goods delivered using its online trading platform, its warehousing services and membership fees levied to access its online trading platform and related information services.
The Company will issue its full financial results within the next 30 - 45 days, in accordance with Pink Sheet requirements.
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.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
Additionally, it is understood that upon completion of the spin-off of the current operating company, there will be no liabilities or litigation to consider, except as provided and documented by Trudy Corp. The Company is currently designated current in its filings with the SEC, the Delaware Secretary of State, and any expenses due to its Transfer Agent.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment