Good Life China Corporation (GLCC)

[mortgage1]

breezin_chs, we would all LIKE to believe that this is very undervalued, but who can say at this point? And as far as decreasing the share structure to raise the PPS....yes, I would absolutely do that, assuming I really had the cash on the balance sheet this company claims to have, and ESPECIALLY because the company has stated that is exactly what they intended to do to return the company to it's stated FMV.

In other words, it is not my words, or your's for that matter, that this was a near term goal. This is the company stating emphatically that they will do everything within it's power to raise the share price from these "silly prices", buying up the entire Float if need be! And this was PR'd more than once. And then....? Nada. No follow through. Same with PR stating their intention to reduce the O/S to "around 100 million" and therefore the Float to 20 million. The rest would be the insiders holding the Restricted 80 million shares.

Related to this, and in response to your opinion that you would not keep buying shares until "I clearly understood those forces"....Ok, fine. But then do NOT say you will do that. Do not repeat in PR after PR that this is your (the company's) intention--then not follow through. Worse yet, actually do the OPPOSITE of what you publicly stated and then not explain why the course was changed in a matter of days/weeks?

Do you see my point? They cry they are being misunderstood, that we essentially need to have faith, etc. etc. But EVEN IF the company is worth many times the current valuation, almost no one is buying it because of their own, self-inflicted credibility issues.

Again, Say what you mean...AND, do what you say.

As far as the GAAP audit, I welcome it, obviously. Meantime, there is zero credibility unless they work to repair it. Genuinely work to repair it. One last thought, regarding the "new" share structure you mention. THAT is the other big issue here. Will this new share structure effectively remove a portion of our ownership? If so, by how much and why?

And writing all of this, but speaking for myself only, I DO believe there is a real company behind this...but the company's prospects are not necessarily tied to how I or others here will be treated in terms of our CURRENT ownership stakes.