Good Life China Corporation (GLCC)

[breezin_chs]

Q1 2009 Q&A

Re: Quarterly Report - Q1 2009 Financials
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=21328

Q: Please explain the following clearly. Haorizi Co, Ltd is no longer part of Good Life China [GLCC], yet it's listed as an "investment"?

INVESTMENT IN NON REPORTING SUBSIDIARY (NOTE 7) 16,282,076

NOTE 7. NON REPORTING SUBSIDIARY

Haorizi Co, Ltd, a subsidiary of Good Life China Corp has stopped reporting its financial results to the operating company. Due to this fact, the financial results along with assets for the 1st quarter of 2009 for this subsidiary are shown as zero.

A: Yes, Haorizi Co, Ltd IS part of Good Life China [GLCC]. Always was.

As you know, they now have a licensing model and are in the process of changing their accounting accordingly. Therefore, Note 7 was inserted to denote the transitionary phase.

We are expecting that the accounting will be done shortly so that a restated Q1 report can be issued.

Regards

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Facts DO have a calming effect. This INCLUDES their bold/underline emphasis (not my edit). Frankly I wrote my question above too hurriedly, thinking (incorrectly) that Haorizi had already been spun off when it clearly says subsidiary. The "non reporting" part threw me. So now we know that they want the accounting buttoned up, as it should be.

Post 1 of 2 per day. Groan.