Good Life China Corporation (GLCC)

[ronsha]

Stockwire.com: Good Life China Corporation (OTC: GLCC) just released some important news.

Friday , February 13, 2009 10:31ET

Feb 13, 2009 (M2 PRESSWIRE via COMTEX) -- Good Life China Corporation (OTC: GLCC), just announced Good Life China Corporation (GLCC) 2008 Preliminary Financial Performance $580 million Gross Retail Sales.

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BEIJING, Feb 12, 2009 - Good Life China Corporation (OTC: GLCC) 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