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GLCC Hoarizi recently changed its model from a franchise one to a system licensing and ecommerce model. This infrastructure and fundamental change in GLCC Hoarizi division sidelined the operating subsidiary with its ability to provide timely updates. Ultimately the entire Hoarizi board members resigned from the GLCC board. Notwithstanding, Hoarizi continues to be part of the GLCC and is an integral part of its asset base. Hoarizi continues with "business as usual" and is pleased to report that the reorganization has completed successfully. For example, Hoarizi recently completed a cooperating agreement with "The Diao Brand Company". The company Diao Brand owns the title of "the first brand of Chinese Soap". As a brand of the Nice Group which annually produces 1 million tons of washing powder and has about 40% market share, 0.3 million tons of liquid detergent, 0.28 million tons of soap with more than 67% market share and 0.25 billion tubes of toothpaste.
As the new management of GLCC explores various merger and split off proposals with other China based retails including those of Hoarizi for a split off, the current management will provide periodic updates such as this one to keep its shareholders and followers current. As GLCC management courts other retail China based merger candidates, the GLCC management reminds its shareholders that notwithstanding the current share price valuation of the entire GLCC portfolio, the GLCC management places a certain value of the Hoarizi asset (which its current share price is not reflecting). As the current GLCC management continues in its discussions with other retailers for a possible merger, the GLCC undervaluation is starting to be acknowledged.
The Company anticipates making additional announcements re: major sales, contracts, including a large targeted retail merger candidate in the coming weeks.
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Safe Harbor Information in this release may contain statements about future expectations, plans, prospects or performance of Good Life China Corporation that constitute forward-looking statements for the purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project", and similar words and phrases are intended to identify such forward-looking statements. Good Life China Corporation cautions you that any forward-looking information provided by, or on behalf of the Good Life China Corporation, is not a guarantee of future performance. None of the information in this release constitutes or is intended as an offer to sell securities or investment advice of any kind. Good Life China Corporation's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Good Life China Corporation's control. In addition to those discussed in Good Life China Corporation's press releases, public filings, and statements by Good Life China Corporation's management, including but not limited to Good Life China Corporation's estimate of the sufficiency of its existing capital resources, Good Life China Corporation's ability to raise additional capital to fund future operations, Good Life China Corporation's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and in identifying contracts which match Good Life China Corporation's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Good Life China Corporation does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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SOURCE Good Life China Corporation
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