BEIJING, Sep 23, 2009 -- Good Life China Corporation www.goodlifechina.com (Pink Sheets:GLCC) announced that its Shenzhen Bread Co Miluga (Miluga) completed an 8 Million Yuan (1.1 Million USD) contract of intentions during the very successful Shanghai Bakery Exhibition. The company is working to finalize the details and arrangement of the contract shortly.
This project has been in the works for some time now going back to our news release of May 12, 2009 to May 14th, 2009 where amongst other things the general manager of Miluga and other sales executives participated in the Shanghai Bakery Exhibition. The Shanghai New International Expo Center (SNIEC) is China's leading expo center, boasting state-of-the-art facilities. During the exhibition, the samples of Miluga products such as the Wife Cakes and Moon Cakes were displayed in all shapes, color, tastes and prices. The company was excited to see the high acceptance and appreciation by buyers and customers. The moon cake is the major cultural traditional food for the Mid-Autumn festival, one of the most important annual festivals for all Chinese people around the world. Moon cakes are one of the flagship food products of Miluga. Mr. Gary Wang, new spokesperson for Miluga, said, "Miluga generates significant revenue from moon cake sales during Mid-Autumn festival each year. The feedback during the exhibition was very positive. We clearly have the competitive advantage over our competitors' products."
In other company news, the company is in the process of merger discussions with several substantial China-based businesses and similar retailers. The company feels that this is a significant event that its followers should be made aware of ahead of the actual merger. Some of the targeted retailers have more significant operations in terms of assets, revenues and sheer size than both of the current operating subsidiaries combined; namely Hoarizi and Miluga. Preliminary discussions include vending out on cash and stock basis Hoarizi only. This new management decision stems from Hoarizi's inability to provide audited or auditable statements to meet GLCC's management's aspirations of becoming a reporting issuer and moving up to OTCBB. Miluga's status vis-a-vie auditable financial statements remains under review.