Good Life China Corporation (GLCC)

[crazy horse 0]

North American operations

http://www.goodlifechina.com/eglna.php

will operate on an autonomous basis going forward. Management anticipates significant growth in top-line revenue going in to 2008, as new operations such as Check 21 services and Forex Trading begin to ramp up marketing and sales.

The Company has established strong branding under the Cash Now banner, and has a large network of websites under this and other names generating traffic for it's web-enabled services.

In 2007, the Company began a diversification program to leverage its core competencies into new markets. Efforts have been focused on Internet delivered financial services to a consumer market. Key attributes for this diversification in business opportunities that have the following attributes:

* Consumer facing
* Financial Services related
* Internet delivered




SMALL LOAN LENDING



The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market. The company's proven business model comprises operations in the U.S., Australian and Canadian markets.

Goodlife offers complete turnkey solutions for Internet delivered payday loans. The Company's products are licensed to third parties as standalone businesses. Revenue is derived from the initial purchase of the software, and monthly administrative fees, creating an ongoing revenue stream. These fees are not royalties, and allow licensees to pursue aggressive growth without being weighed down by service fees that eat into their margins.

PAYDAY EXPRESS

The perfect solution for a home based Internet payday loan business without the expense of operating a retail storefront. PAYDAY EXPRESS offers powerful and robust functionality and features, such as reporting, exporting data, Trust Vault integration, electronic funds transfer (EFT) capabilities and a Credit Bureau interface feature.

CHECK EXPRESS

This product builds on the feature set of the Payday Express, but also includes the full functionality of Cash Now's booking engine, which provides the Company's proprietary credit evaluation software and services. It is designed to service payday loans as well as offering check cashing services.

THE TRUST VAULT

Goodlife's proprietary Trust Vault provides a secure online environment in which sensitive financial information and transaction data can be held in a secure manner. Loan processing and consumer information is provided and transacted within this secure vault. It is designed to be very consumer friendly and extremely simple to use.



"Check 21" (Check Clearing for the 21st Century Act) is a U.S. federal law that became effective on October 28, 2004. It is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient. Under Check 21, banks can capture a picture of the front and back of the check along with the associated payment information and transmit this information electronically.

Front and Back view of a substitute check (Source: Federal Reserve)


The international check clearing market represents huge potential for growth. While Check 21 is being increasingly adopted in the United States, it is quite a new concept internationally. Checks drawn on a U.S. Account, for deposit in international markets often take 30-45 days to clear, and sometimes even longer. Cash Now 21 reduces the clearance time to a mere 3 business days or less.

For foreign markets such as Asia and South America that have significant funds flow back and forth from the U.S., this becomes an invaluable asset. We are intent on being first to market with as non-financial institution to offer this service.

Initial rollout of services is slated for the Chinese markets. There is very significant latent demand for this service and we have received an overwhelming response from preliminary discussions with Chinese banks for our service. Most Chinese banks handle significant numbers of U.S. denominated checks, whether payroll checks for U.S. citizens working in China, or for export related payments to international destinations.




ADVANCED FOREX BY CASH NOW

Advanced Forex by Cash Now is an introductory broker providing 24 hour access to a sophisticated trading platform, directly linked to the Interbank clearing systems, for active day traders. Heading the division is Peter Presland based at the Company's Florida office.

The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$1.9 trillion - 30 times larger than the combined volume of all U.S. equity markets. "Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY). Industry estimates suggest that a full 95% of trading is speculative, and not tied to international trade.

Advanced Forex works on a revenue sharing agreement with Advanced Markets. Traffic to the trading site will be driven by Cash Now which has a proven track record in this regard and create a client base of active traders. In addition, the large number of day traders who have been following developments in this area will now have access to the service.

The Company has plans to switch to a new service provider and begin to diversify its Forex related services to include advanced charting and trading analysis software, as well as introducing managed trading and other value-added services in the upcoming quarters.