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This comment just sent to all the loyal GCHC shareholders. Know you have an idea of what the future may be for this company. ****************** GCC is extremely well positioned for a market downturn both in China and around the world for the following reasons:
The Chinese love to gamble, and the stock market is the only legal way to do so. The only casinos are in Macau. Therefore you can expect continued high volatility in Chinese listed stocks as speculators (including housewives, retirees and students!) drive the market up and then panic when it goes down.
I don’t trust the financials of many Chinese companies or their ability to make money. This includes the large banks and insurance companies that had major IPO’s this past year. The government took these State Owned Enterprises (“SOEs”) public to get them off their books, but management still isn’t geared to the capitalistic system. They are trained to produce goods, not profits. Much of the money raised in IPO’s was used to build expensive buildings and as loans to management, and therefore wasted.
On Chinese companies that went public outside of China (in Hong Kong, Tokyo, London(AIM), and NASDAQ either through IPO’s or reverse mergers, the management is usually still the same, and therefore have the problems of #2 above. There are some exceptions to this, and these are usually Chinese entrepreneurs who have been educated in the U.S. We are working with a number of these individuals who are some of the best entrepreneurs I have met anywhere.
In addition to the poor quality of management and financials of Chinese companies, there is usually no liquidity or after-market support. This is particularly true in Chinese companies with international listings. Liquidity dries up, the share price goes down and the company cannot raise any more money even if they are well run and profitable. Management gets discouraged because they can’t sell their shares as well. These are the companies that we go after. There are great opportunities here.
When markets go down, which I am expecting both in China and the rest of the world, investors flock to quality. (See my comments in the attached article from the latest issue of Chief Executive Magazine, where I am quoted along with the CEO’s of AIG and NASDAQ (nice company for GCC!). GCC is very well positioned, since we have a clean balance sheet, no debt, extremely high quality people around us and therefore a very strong platform for rapid growth. Our team is also very experienced in structuring deals where we minimize cash use or exposure to risk.
Now we are anxious to get our audits and filings done (which I am working on this very minute with Al Rosen) so we can use our solid base and wonderful relationships to take advantage of all the extremely good deals we have and will have no matter what happens to various stock markets.
Thank you, and our other fine shareholders for giving us this opportunity.
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the directors will meet in new york the first two days of this week and all important business should be concluded. then the filings and pr's.
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word is the company has signed a couple of multi million dollar deals and will announce shortly after the 10k is released next week. an easy triple on news release.
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Here are the e-mail addresses of the current board of directors, CEO and CFO. If you want to effect change then write to these people instead of wasting your time posting on this or other stock threads. CC IR in your message so he can also respond.
John Allen CEO: JWA*greaterchinacorp.com Alvin Rosen CFO: birdwchal*optonline.net Larry Levine dir.: LBL*greaterchinacorp.com William Knight dir.: william.wknight********** Mark Young dir.: myoung*aravalillc.com Jon Scott IR: info*greaterchinacorp.com
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(State or other jurisdiction (Commission (IRS Employer File
of incorporation) Identification No.) Number):
One Rockefeller Plaza, Suite 1010 New York, NY 10020
(Address of principal executive offices) (Zip Code) (212) 765-4547
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT
Item 3.02 Unregistered Sales of Equity Securities.
(a) If the registrant sells equity securities in a transaction that is not registered under the Securities Act, furnish the information set forth in paragraphs (a) and (c) through (e) of Item 701 of Regulation S-K or Regulation S-B, as applicable (17 CFR 229.701(a) and (c) through (e) and 228.701(a) and (c) through (e), respectively). For purposes of determining the required filing date for the Form 8-K under this Item 3.02(a), the registrant has no obligation to disclose information under this Item 3.02 until the registrant enters into an agreement enforceable against the registrant, whether or not subject to conditions, under which the equity securities are to be sold. If there is no such agreement, the registrant must provide the disclosure within four business days after the occurrence of the closing or settlement of the transaction or arrangement under which the equity securities are to be sold.
a. The date, title and amount of securities sold: December 31, 2006, Common Stock, 1,141,071.
c. For securities sold for cash, the total offering price and the total underwriting discounts or commissions. For securities sold other than for cash, describe the transaction and the type and amount of consideration received by the small business issuer: All securities were issued in negotiated transactions either (i) in cancellation of prior indebtedness of the issuer or (ii) for services rendered or to be rendered.
d. The section of the Securities Act or the rule of the Commission under which the small business issuer claimed exemption from registration and the facts relied upon to make the exemption available: Section 4(2) of the Securities Act of 1933. No general solicitation or advertising was employed in connection with these transactions and each stockholder had a pre- existing relationship with the issuer, either as a creditor or as a service provider.
e. If the information called for by this paragraph (e) is being presented on Form 8-K, Form 10-QSB, Form 10-Q, Form 10-KSB or Form 10-K under the Exchange Act, and where the securities sold by the registrant are convertible or exchangeable into equity securities, or are warrants or options representing equity securities, disclose the terms of conversion or exercise of the securities: The securities are not convertible.
Item 9.01 Financial Statements and Exhibits.
List below the financial statements, pro forma financial information and exhibits, if any, filed as a part of this report.
Edgar Filing $ 1,000 $ - Financing Expense $ 2,000 $ 39,062 * Franchise Tax $ 910 $ 775 Investor Relations $ 9,350 $ - Legal & Professional $ 33,024 $ 19,148 Meeting $ 123 $ 155 Office $ 562 $ 20,050 * Rent $ 42,000 $ 42,000 Transfer Agent $ 5,900 $ 2,135 Travel $ 2,737 $ 45,000 Total Expense $ 288,105 $ 585,755 Net Ordinary Income $ (288,105)$ (585,755) Net Income $ (288,105)$ (585,755) * Includes one-time expenses associated with corporate restructuring.
Greater China Corporation Balance Sheet ($US) ASSETS Dec 31 2006 Dec 31 2005 Current Assets Checking/Savings Cash In Bank $ 1,691 $ 2 Total Checking/Savings $ 1,691 $ 2 Other Current Assets Due For Professional Services $ 57,120 $ 60,000 Loan to Affiliates $ 5,000 $ - Total Other Current Assets $ 62,120 $ 60,000 Total Current Assets $ 63,811 $ 60,002 TOTAL ASSETS $ 63,811 $ 60,002
LIABILITIES & EQUITY Liabilities Current Liabilities Other Current Liabilities Accrued Expenses $ 31,624 $ - Due For Administrative Services $ 106,840 $ 59,300 Total Other Current Liabilities $ 138,464 $ 59,300 Total Current Liabilities $ 138,463 $ 59,300 Total Liabilities $ 138,464 $ 59,300 Equity Additional Paid-In Capital $ 6,727,644 $ 6,545,743 Common Stock $ 456,885 $ 426,035 Retained Earnings $(6,969,401) $(6,383,646) Treasury Stock $ (1,675) $ (1,675) Net Income $ (288,105) $ (585,755) Total Equity $ (74,653) $ 702 TOTAL LIABILITIES & EQUITY $ 63,811 $ 60,002 SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PRESS RELEASE: Greater China Corporation Announces the Financial Results of Restructuring
Dow Jones & Company, Inc. -- April 30, 2007
NEW YORK, April 30 /PRNewswire-FirstCall/ -- Greater China Corporation (OTC: GCHC.PK) has completed a corporate restructuring which provides it with a solid foundation for growth. The attached financial statements for 2005 and 2006, which have been filed with the SEC, reflect the following major accomplishments.
1. The rescission of a prior acquisition resulting in the repatriation of 17.5 million shares which can now be used to finance growth and to make acquisitions. 2. The elimination of more than $5 million in debt which otherwise would have to be repaid or converted into equity. This leaves the company with no debt. 3. The preservation of more than $6 million in loss carry-forwards available to reduce tax liabilities on future income. 4. The development of a broad base of more than 1,500 quality shareholders none of whom holds more than 5% of the shares. 5. The elimination of all dilutive instruments including options and warrants so that all results flow directly to existing shareholders. 6. The assembly of an exceptionally strong and experienced Board of Directors and Advisors all of whom are directly involved in building the Company. 7. The development of numerous business opportunities in each of seven areas of concentration. Each of these seven groups has been selected for its potential to aggregate $100 million in revenues and at least 15% in earnings within 5 years. 8. The ability to use the platform of a U.S. based public company to attract entrepreneurs, investors and strategic partners with the advantage of the liquidity of publicly traded shares.
In a communication to shareholders, John W. Allen, CEO said: "Our continuing goal has been to preserve and enhance the value of every share of Greater China stock. In spite of many suggestions to reverse-split the stock, and numerous offers to provide financing and promotion from third parties who we suspect would then have hyped and shorted the stock or otherwise disrupted legitimate market activities, we have done neither. Instead we have kept our expenses at a minimum and relied on financial and advisory assistance only from those who we know are acting in the best long-term interests of the company. Now, for the first time, we can concentrate our efforts on growing our business. It is an exciting time for all of us, and hopefully a very rewarding one for all of our shareholders."
Statements in this press release that are other than historical facts are " forward-looking" in that they contain expectations about future results. There can be no assurance that the transactions described in the above can or will be implemented. Such forward-looking statements involve numerous risks and uncertainties. Although GCHC believes that expectations reflected in its forward-looking statements are reasonable, it can give no assurance that this will prove to be correct.
For additional information please contact: Jon Scott, info* greaterchinacorp.com; JWA*greaterchina.com or LBL*greaterchina.com.
Greater China Corporation ------------------------- Statement of Income and Expense ($US) -------------------------------------
Net Ordinary Income (288,105) (585,755) ------------------- ------------ ------------
Net Income $ (288,105) $ (585,755) ---------- ------------ ------------
* Includes one-time expenses associated with corporate restructuring.
Greater China Corporation ------------------------- Balance Sheet ($US) -------------------
ASSETS Dec 31 2006 Dec 31 2005 ------ ----------- ----------- Current Assets Checking/Savings Cash In Bank $ 1,691 $ 2 ----------- ----------- Total Checking/Savings 1,691 2
Other Current Assets Due For Professional Services 57,120 60,000
Loan to Affiliates 5,000 - ----------- ----------- Total Other Current Assets 62,120 60,000
Total Current Assets 63,811 60,002 ----------- ----------- TOTAL ASSETS $ 63,811 $ 60,002 ------------ ----------- -----------
LIABILITIES & EQUITY -------------------- Liabilities Current Liabilities Other Current Liabilities Accrued Expenses $ 31,624 $ -
Due For Administrative Services 106,840 59,300 ----------- ----------- Total Other Current Liabilities 138,464 59,300
Total Current Liabilities 138,463 59,300 ----------- -----------
Total Liabilities 138,464 59,300 ----------- ----------- Equity Additional Paid-In Capital 6,727,644 6,545,743 Common Stock 456,885 426,035 Retained Earnings (6,969,401) (6,383,646) Treasury Stock (1,675) (1,675) Net Income (288,105) (585,755) ----------- ----------- Total Equity (74,653) 702 ----------- -----------
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Greater China Corporation GCC motto:"To build Greater China Corporation into the ideal vehicle for investors and partners who wish to participate directly in China's dynamic economic growth."
Sunday, April 22, 2007 Rockefeller Center All GCC investors are welcome to visit headquarters. John W. Allen will be glad to meet with any and all investors or future investors. Set up an appointment on your next venture to New York City.
Phone #: 212-765-4547
Facts & Figures Corporate Headquarters: One Rockefeller Plaza, Suite 1010 New York, New York 10020 Phone: 212-765-4547 Fax: 212-218-4223
Trading symbol: GCHC State of Inc.: Delaware Fiscal Year End: Dec31 SIC Code: 7373 SEC GIK Code: 0000773342 Edgar Filer Status: Current SEDAR Filer: Current Class Name: Com(2 cents) Authorized Shares: 100,000,000 Outstanding Shares: 21,301,781 (13Oct06) Public Float: 11,561,025 (13Oct06) Shareholders: 1,500 (13Oct06)
Counsel: Geoff Chalmers chalm*worldnet.att.net Transfer Agent: Jeff Manger jerseytransfer*yahoo.com Investor Relations: Jon Scott info*greaterchinacorp.com
Projects Projects that GCC will be focusing upon in the coming years:
1. Financial Services 2. Technology & Media 3. Healthcare 4. Consumer 5. Real Estate 6. Education 7. Utilities-Manufacturing-Industry
Advisors Thomas P. Au
Prominent global investor, financial advisor (CFA), author, speaker and follower of the Chinese securities markets. Recently published “A Modern Approach to Graham and Dodd Investing” (Wiley). Over 20 years experience as a securities analyst and portfolio manager with Value Line, Cigna Investment Management and R.W. Wentworth. Received his BA cum laude in Economics and History from Yale University and MBA in Finance from New York University.
James Barton
Well-known writer and editor for major publications including: Asia Times, The Washington Times, and Foreign Affairs (published by the Council on Foreign Relations). More than 100 recent articles and web-reports on Venture Capital and entrepreneurial activities in China, Viet Nam, and other countries throughout the Asia Pacific region. Founder of Venture Japan (sold to Investor Dealers Digest) and Asia Pacific Communications, Inc. Lecturer at: University of South Carolina,West Virginia School of Journalism, New School University, Pace University, The Chinese University of Hong Kong and the Hanoi School of Business. Educated at Yale University, the University of Maryland (Masters of Arts Degree with honors) and recipient of the National Endowment for the Humanities Fellowship.
Harry Edelson
Major corporate Venture Capitalist, having managed five highly successful funds for AT&T, Viacom, 3M, Ford, Colgate-Palmolive, Reed Elsevier, Asea Brown Boveri and UPS, with investments in more than 90 companies. His Edelson Technology Partnership (ETP) funds achieved best results in 130 fund peer group. Over 30 years experience in technology, securities analysis and Venture Capital with AT&T, CS First Boston, Merrill Lynch and Drexel Burnham Lambert. First outside investor in nine companies that have grown to $1 - $6 billion in market value (two in China). Received his BS in Physics from Brooklyn College, and MBA from New York University. Former President of the Wall Street Analysts Club, recipient of numerous awards and frequent speaker at major conferences on global investments.
Guing Guo
Senior lawyer with Schiff Hardin in NYC. Admitted to practice in New York and China. Was foreign counsel for Cadwalader, Wickersham & Taft, and headed Greater China practice for Lee & Lee in Singapore. Law Degree from Beijing University and Master of Law from both the National University of Singapore and New York University. Has successfully completed a number of China related transactions for major Chinese and U.S. clients. Appearances on Asia Business News, broadcast by CNBC.
Liang Heng
Author, journalist, and for the past 23 years personal representative to George Soros on China affairs. Has well-established relationships in the Chinese media and financial communities. Wrote “Son of the Revolution” and founded and was Editor –in-Chief of the quarterly publication, “The Chinese Intellectual”. Received his Bachelors degree from Hunan University and Masters Degree from Columbia University.
Karen Jagoda
Author and Internet entrepreneur. Founder and President of the E-Voter Institute, Turtlesnap Ventures, Inc. and Turtleback Interactive. Host of numerous symposia relating to the use of the Internet for on-line political advertising and advocacy and on Global Trends In Technology. Author of a number of publications in collaboration with the New York Times and others including: Crossing the River: The Coming of Age of the Internet in Politics and Advocacy. Received her BA in Mathematics and Political Science from Goucher College and MS in Business Administration from the Johns Hopkins University.
Daxi Li
Chairman of the Chinese Association for Science and Business and Advisor to the Chinese government in developing China’s Five Year Plans for Policy and Economic Development. Graduate of South China Normal University with Masters Degree from Sun Yat-sen University and PhD in high-energy physics from the City University of New York. Developer of Entrepreneurial Innovation Centers in Shenzhen and Guangzhou China. Frequent speaker at major China conferences.
Robert McGrath, Jr.
International Investment Banker and Advisor with expertise in real estate, financial services, waste management, port development, power generation and cross border transactions. Negotiated agreements with Central Banks and Finance Ministries in China, the Philippines, Panama, Papua New Guinea and other emerging countries for numismatic issuance. Received his BBA in Accounting from Notre Dame and MBA from UCLA.
Egon Ali Oglu
Internationally renowned architect, inventor and entrepreneur. Architect and designer with many years of successful experience with Campbell & Aldrich, Hugh Stubbins & Associates, William Riseman & Associates and London County Council. Collaborated with leading architects including Walter Gropius, Luigi Nervi and others in the Harvard/MIT community. Invented the unique COMPONOFORM™ structural building system which has been used to construct a number of schools, office buildings and residential properties around the world, including the current design for a state-of-the-art, Shanghai based healthcare center. Expert in the field of Solar Energy (honored by the Governor of Massachusetts) with awards from the Ford Foundation and SANCST of Saudi Arabia, where he completed 20 projects utilizing solar photovoltaic energy systems. Received his BA, MBA and PhD in architecture, building systems and technologies and has served as Associate Professor and Lecturer at Harvard School of Design, Carleton University, University of Nova Scotia Technical College, King Faisal University, King Saud University and MIT.
Tong Ich (Tom) Pham
Pham President and CEO of Global C&D, Inc., a real-estate development company with major activities in Vietnam and with a successful record of building more than one million square feet of housing for the Vietnamese community in the US. Instrumental in normalizing relations between the US and Vietnam and achieving recent membership for Vietnam in the World Trade Organization. Highly regarded by the political and business leadership in both the US and Vietnam which has resulted in Global C&D receiving a franchise for development of 1,100 acres of prime beach-front property (“China Beach”) and in development of master plans for Ha-Noi, Da Nang and Ho Chi Minh City. A major supporter of education and job opportunities for young Vietnamese, and author of two important publications which assisted the Vietnamese government and people to re-join the global community: “Achievement Without War” and “Vietnam: Year 2020”
Marcela Speert
Founder and President of Global Management Associates, LLC. Also, Director of AIESEC, U.S. Inc. A highly successful international executive, entrepreneur and advisor with a proven record of achievement with firms such as Pepsi-Cola, Colgate-Palmolive and Mary Kay Cosmetics.
Her leadership has developed across a wide range of global consumer retail and direct selling organizations. She is known for her ability to pull together high performing teams and has consistently exhibited an ability to lead large, complex businesses across diverse cultures to achieve unprecedented sales volume, market share and profit growth.
Bin Wang
International Investment Banker with over 25 years experience in China and the U.S. specializing in the Aeronautical and Financial Services Industries. For the past 13 years was Vice President, International Financial Services at JP Morgan Chase and recently became a Founding Partner of Eon Capital which specializes in advising and financing medium and large-size Chinese companies. Frequently interviewed on CCTV and by other major Chinese media organizations. Received his Masters of Engineering Degree from Xi’an Jia-Tong University and Master of Arts in Economics from Illinois State University.
Elizabeth B. Wang
Founder of the Chinese Cultural Foundation and the Elizabeth Wang Gallery both based in New York City. Has organized major cultural events at the Palace of Versailles in Paris, the World Economic Forum and China-U.S. Business Summits in Beijing, the Asia Capital Forum in Dongguan, the Institutional Investor - China Investment Forum in New York City and on numerous occasions at the United Nations, Bank of China, National Arts Club and other important venues. Maintains close relationships with Chinese and American political, business and cultural leaders and organizations. She was China’s National Classical Dance Champion and earned her Masters Degree in Arts Administration from the City University of London.
Quing Yang
CPA, is an Accounting Executive at American Express Company responsible for the preparation and filing of the Company’s 10Q and 10K audit reports as well as for SEC and other regulatory filings. Prior to joining American Express, she held positions at IBM and Avon Products with responsibility for the Asia Pacific region’s sales forecasts and analysis. She has extensive experience in financial accounting and analysis, consolidations, management information systems and SEC reporting. She started her career with Ernst & Young after receiving her Bachelor’s Degree from Beijing University School of Foreign Studies and Masters Degree from Columbia University.
Balin Zheng
Leading international banker currently serving as Senior Advisor to Citigroup in Shanghai. Retired after 25 years experience with Bank of China, most recently as CEO in the United States, and also served in Shanghai, Hong Kong and London. Actively involved with the Institute of International Bankers, the China Chamber of Commerce and the United Nations, where on behalf of the UN he has been a guest speaker in Brazil and other countries on Foreign Direct Investment. Graduate of Peking Foreign Languages College and a guest lecturer at Harvard Business School.
Directors John W. Allen: Chairman & CEO of GCC. Directly involved in Asia and China for over 30 years. Also, Trustee of the Chinese Cultural Foundation and a member of the China Investment Group LLC. Helped to found AIESEC in China and was Chairman of the Board of AIESEC, US and of AIESEC Yale. Headed the international investment subsidiary of the Bank of Boston and was Assistant to James D. Wolfensohn (former head of the World Bank) at Schroder Bank and Trust. Also served as a Trustee of the George Soros Open Society Institute and International Science Foundation. Involved in starting and developing more than 30 companies worldwide, several of which have grown into $ multi-billion enterprises. Received his BA from Yale University and MBA from Harvard Business School. E-mail- JWA*greaterchinacorp.com
William Knight: London based International Investment Banker specializing in Emerging Markets. Serves as a Director and Advisor for, amongst others, JP Morgan Chinese Investment Trust, Fidelity Asian Values Fund, Thai-Euro Fund and Evolvence (India) Fund. Instigated the Vietnam Fund, and served as a member of the Board for its duration. A founding partner of Emerisque Capital, an "East-West" management buy-in firm. His career in international finance began with Lazard Brothers and continued with Lloyds Bank International in London and Hong Kong where he was involved in structuring and financing major global projects. E-mail- WK*greaterchinacorp.com
Laurence B. Levine: Investment Banker and Attorney credited with closing more than 300 successful transactions. Also serves as President of China Property Exchange Corporation, Director of Perfect Fit Industries, and Chairman of Blair Holdings. Has represented major international clients including Federal Express, Shell, Nedlloyd, Maersk, Lykes Bros., CargoLifter AG (Germany), Thomson Newspapers, & General Reinsurance affiliates. Founded Boston-based Signature Financial Group and EdVerify, an educational service company. Was a Director of Corporate Finance for Rothschild Inc. and Smith New Court Securities in New York and London and Henry Ansbacher LLC, and Senior Vice President of Burnham and Company. Received his BA from Princeton University and JD from Stanford Law School. Served in the US Marine Corp. E-mail- LBL*greaterchinacorp.com
Mark Young: Investment Banker, Financial Advisor and Founder of Aravali Partners LLC a Leveraged Municipal Bond Fund. Over 20 years experience with: McKinsey & Co., Morgan Stanley & Co., Salomon Brothers and PriceWaterhouse Coopers. Successfully funded numerous companies through venture capital, private equity and public offerings, raising many $millions in each situation. Certified CFA, CPA, Series 3,7 & 63 and registered SFA. Received his BS from Boston College and MBA from Harvard Business School. E-mail- MY*greaterchinacorp.com
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company has apparently just signed a $B deal with a powerful fund manager. stock price is starting to creep higher and if news comes out this pup will leap higher.
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Greater China Corporation Forms TongRenTang Wellness CorporationLast update: 10/15/2007 3:03:00 PMNEW YORK, Oct 15, 2007 /PRNewswire-FirstCall via COMTEX/ -- Greater China Corporation (Pink Sheets: GCHC.PK) announced the formation of TongRenTang Wellness Corporation in partnership with TRT USA Corp. The new company, which is owned equally by the two partners, will develop spa-like wellness centers that will provide treatments and products based upon China's famous TongRenTang herbal medicines. These will include acupuncture, massage, acupressure, Tuina, Tai-Chii, Qigong, reflexology and many other oriental treatments as well as a full line of herbal foods and health products. Tong Ren Tang () is China's oldest and most prestigious brand name. The company was started in 1669 under the Qing Dynasty and for more than 200 years was the exclusive supplier of natural medicines to China's Imperial Court. Today it is a $10 billion business in China and is rapidly expanding internationally. Greater China Corporation () is a U.S. public company specializing in diversified growth opportunities in China and associated economies. The TongRegTang Wellness Centers will be the first extension of these herbal treatments to the spa market. Wellness centers will be located in historical Chinese communities and other retail locations including health and exercise centers, shopping malls, airports and existing spas. A higher end market will be developed in conjunction with luxury hotels, cruise ships and other exclusive locations. Pilot programs are currently under development for both market segments. The growing fascination with Chinese traditional medicines and the desire for more spa-like treatments and wellness programs represent the positive trends upon which the TongRenTang Wellness Centers are being developed. Statements in this press release that are other than historical facts are "forward-looking" in that they contain expectations about future results. There can be no assurance that the events described in the above announcement will be completed as anticipated. For additional information please contact: hi2jon*hotmail.com or (866) 696-GCHC (4242). SOURCE Greater China Corporation
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Greater China Corporation Forms TongRenTang Wellness Corporation
NEW YORK, Oct 15, 2007 /PRNewswire-FirstCall via COMTEX/ -- Greater China Corporation (Pink Sheets: GCHC.PK) announced the formation of TongRenTang Wellness Corporation in partnership with TRT USA Corp. The new company, which is owned equally by the two partners, will develop spa-like wellness centers that will provide treatments and products based upon China's famous TongRenTang herbal medicines. These will include acupuncture, massage, acupressure, Tuina, Tai-Chii, Qigong, reflexology and many other oriental treatments as well as a full line of herbal foods and health products.
Tong Ren Tang (www.tongrentang.com) is China's oldest and most prestigious brand name. The company was started in 1669 under the Qing Dynasty and for more than 200 years was the exclusive supplier of natural medicines to China's Imperial Court. Today it is a $10 billion business in China and is rapidly expanding internationally.
Greater China Corporation (www.gccweb.********.com/) is a U.S. public company specializing in diversified growth opportunities in China and associated economies.
The TongRegTang Wellness Centers will be the first extension of these herbal treatments to the spa market. Wellness centers will be located in historical Chinese communities and other retail locations including health and exercise centers, shopping malls, airports and existing spas. A higher end market will be developed in conjunction with luxury hotels, cruise ships and other exclusive locations. Pilot programs are currently under development for both market segments.
The growing fascination with Chinese traditional medicines and the desire for more spa-like treatments and wellness programs represent the positive trends upon which the TongRenTang Wellness Centers are being developed.
For additional information please contact: hi2jon*hotmail.com or (866) 696-GCHC (4242).
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Greater China Corporation Corporate Headquarters One Rockefeller Plaza, Suite 1010 New York, New York 10020 Tel: (212) 765-4547 Fax: (212) 218-4223 Email: JWA*greaterchinacorp.com
GREATER CHINA CORPORATION
October 2007
Dear Greater China Participant:
I am pleased to provide an update of what has been happening. We have successfully completed the separation with Unigel and have achieved the following:
1.Reduced the number of GCC shares outstanding by more than 40% (17.5 million shares) which were cancelled as part of the Unigel transaction.
2.Eliminated $2.8 million of debt by assigning this to Unigel.
3.Eliminated all remaining debt ($2.3 million) through the conversion of all other obligations to equity.
4.Produced a clean corporation, with no debt and approximately 23 million shares – which are widely distributed amongst more than 1,800 long-term, loyal shareholders who can help us grow.
5.Focused our CFO and auditors on completing all audits and SEC filings at the earliest possible date.
6.Added three new Directors, and seven Advisors, all of whom are extremely well qualified and well connected.
7.Established Audit, Corporate Governance and Compensation committees to set the highest standards of SEC compliance.
8.Identified and negotiated a number of pending transactions which have been structured to add several hundreds of millions in revenues and assets with limited dilution.
9.Developed a fast-track system for producing professional business plans to evaluate and implement new opportunities.
10.Designed the use of our Convertible Preferred Stock to raise money and make acquisitions with limited dilution to the common shareholders.
11.Positioned GCC so that our share price will reflect our increasing intrinsic value.
12.Developed a plan for a corporate move to Bermuda and NYSE listing.
The path is now clear to achieve our Mission: “To build Greater China Corporation into the ideal public company for investors and partners who wish to share in the growth of China and related economies.”
I want to thank everyone for the tremendous loyalty and support, without which none of this would have been possible. We now look forward to realizing the full potential of Greater China Corporation.
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GCHC's new advisory board. Any doubt this stock is going higher?
Advisors
Thomas P. Au Prominent global investor, financial advisor (CFA), author, speaker and follower of the Chinese securities markets. Recently published “A Modern Approach to Graham and Dodd Investing” (Wiley). Over 20 years experience as a securities analyst and portfolio manager with Value Line, Cigna Investment Management and R.W. Wentworth. Received his BA cum laude in Economics and History from Yale University and MBA in Finance from New York University.
James Borton Well-known writer and editor for major publications including: Asia Times, The Washington Times, and Foreign Affairs (published by the Council on Foreign Relations). More than 100 recent articles and web-reports on Venture Capital and entrepreneurial activities in China, Viet Nam, and other countries throughout the Asia Pacific region. Founder of Venture Japan (sold to Investor Dealers Digest) and Asia Pacific Communications, Inc. Lecturer at: University of South Carolina, West Virginia School of Journalism, New School University, Pace University, The Chinese University of Hong Kong and the Hanoi School of Business. Educated at Yale University, the University of Maryland (Masters of Arts Degree with honors) and recipient of the National Endowment for the Humanities Fellowship.
Harry Edelson Major corporate Venture Capitalist, having managed five highly successful funds for AT&T, Viacom, 3M, Ford, Colgate-Palmolive, Reed Elsevier, Asea Brown Boveri and UPS, with investments in more than 90 companies. His Edelson Technology Partnership (ETP) funds achieved best results in 130 fund peer group. Over 30 years experience in technology, securities analysis and Venture Capital with AT&T, CS First Boston, Merrill Lynch and Drexel Burnham Lambert. First outside investor in ten companies that have grown to $1 to over $30 billion in market value (two in China). Received his BS in Physics from Brooklyn College, and MBA from New York University. Former President of the Wall Street Analysts Club, recipient of numerous awards and frequent speaker at major conferences on global investments.
Guying Guo Senior lawyer with Schiff Hardin in NYC. Admitted to practice in New York and China. Was foreign counsel for Cadwalader, Wickersham & Taft, and headed Greater China practice for Lee & Lee in Singapore. Law Degree from Beijing University and Master of Law from both the National University of Singapore and New York University. Has successfully completed a number of China related transactions for major Chinese and U.S. clients. Appearances on Asia Business News, broadcast by CNBC.
Liang Heng Author, journalist, and for the past 23 years personal representative to George Soros on China affairs. Has well-established relationships in the Chinese media and financial communities. Wrote “Son of the Revolution” and founded and was Editor –in-Chief of the quarterly publication, “The Chinese Intellectual”. Received his Bachelors degree from Hunan University and Masters Degree from Columbia University.
Karen Jagoda Author and Internet entrepreneur. Founder and President of the E-Voter Institute, Turtlesnap Ventures, Inc. and Turtleback Interactive. Host of numerous symposia relating to the use of the Internet for on-line political advertising and advocacy and on Global Trends In Technology. Author of a number of publications in collaboration with the New York Times and others including: Crossing the River: The Coming of Age of the Internet in Politics and Advocacy. Received her BA in Mathematics and Political Science from Goucher College and MS in Business Administration from the Johns Hopkins University.
Daxi Li Chairman of the Chinese Association for Science and Business and Advisor to the Chinese government in developing China’s Five Year Plans for Policy and Economic Development. Graduate of South China Normal University with Masters Degree from Sun Yat-sen University and PhD in high-energy physics from the City University of New York. Developer of Entrepreneurial Innovation Centers in Shenzhen and Guangzhou China. Frequent speaker at major China conferences.
Robert McGrath, Jr. International Investment Banker and Advisor with expertise in real estate, financial services, waste management, port development, power generation and cross border transactions. Negotiated agreements with Central Banks and Finance Ministries in China, the Philippines, Panama, Papua New Guinea and other emerging countries for numismatic issuance. Received his BBA in Accounting from Notre Dame and MBA from UCLA.
Egon Ali Oglu Internationally renowned architect, inventor and entrepreneur. Architect and designer with many years of successful experience with Campbell & Aldrich, Hugh Stubbins & Associates, William Riseman & Associates and London County Council. Collaborated with leading architects including Walter Gropius, Luigi Nervi and others in the Harvard/MIT community. Invented the unique COMPONOFORM™ structural building system which has been used to construct a number of schools, office buildings and residential properties around the world, including the current design for a state-of-the-art, Shanghai based healthcare center. Expert in the field of Solar Energy (honored by the Governor of Massachusetts) with awards from the Ford Foundation and SANCST of Saudi Arabia, where he completed 20 projects utilizing solar photovoltaic energy systems. Received his BA, MBA and PhD in architecture, building systems and technologies and has served as Associate Professor and Lecturer at Harvard School of Design, Carleton University, University of Nova Scotia Technical College, King Faisal University, King Saud University and MIT.
Tong Ich (Tom) Pham President and CEO of Global C&D, Inc., a real-estate development company with major activities in Vietnam and with a successful record of building more than one million square feet of housing for the Vietnamese community in the US. Instrumental in normalizing relations between the US and Vietnam and achieving recent membership for Vietnam in the World Trade Organization. Highly regarded by the political and business leadership in both the US and Vietnam which has resulted in Global C&D receiving a franchise for development of 1,100 acres of prime beach-front property (“China Beach”) and in development of master plans for Ha-Noi, Da Nang and Ho Chi Minh City. A major supporter of education and job opportunities for young Vietnamese, and author of two important publications which assisted the Vietnamese government and people to re-join the global community: “Achievement Without War” and “Vietnam: Year 2020”
Marcela Speert Founder and President of Global Management Associates, LLC. Also, Director of AIESEC, U.S. Inc. A highly successful international executive, entrepreneur and advisor with a proven record of achievement with firms such as Pepsi-Cola, Colgate-Palmolive, Deutsche Telecom, Aramark Corporation and Mary Kay where she participated in the Company’s development in Europe, Asia and Latin America. As the President of Mary Kay in Central Europe she built a start-up Direct Sales organization for cosmetics and skin care products into a major company with revenues exceeding $100 million, profits of 15% and more than 3,000 employees. As an internationally acclaimed gymnast and honor student she received her BA at age 17 from the University of Pilsner in the Czech Republic and gained fluency in six languages.
Bin Wang International Investment Banker with over 25 years experience in China and the U.S. specializing in the Aeronautical and Financial Services Industries. For the past 13 years was Vice President, International Financial Services at JP Morgan Chase and recently became a Founding Partner of Eon Capital which specializes in advising and financing medium and large-size Chinese companies. Frequently interviewed on CCTV and by other major Chinese media organizations. Received his Masters of Engineering Degree from Xi’an Jia-Tong University and Master of Arts in Economics from Illinois State University.
Elizabeth B. Wang Founder of the Chinese Cultural Foundation and the Elizabeth Wang Gallery both based in New York City. Has organized major cultural events at the Palace of Versailles in Paris, the World Economic Forum and China-U.S. Business Summits in Beijing, the Asia Capital Forum in Dongguan, the Institutional Investor - China Investment Forum in New York City and on numerous occasions at the United Nations, Bank of China, National Arts Club and other important venues. Maintains close relationships with Chinese and American political, business and cultural leaders and organizations. She was China’s National Classical Dance Champion and earned her Masters Degree in Arts Administration from the City University of London.
Qing Yang,CPA Is an Accounting Executive at American Express Company responsible for the preparation and filing of the Company’s 10Q and 10K audit reports as well as for SEC and other regulatory filings. Prior to joining American Express, she held positions at IBM and Avon Products with responsibility for the Asia Pacific region’s sales forecasts and analysis. She has extensive experience in financial accounting and analysis, consolidations, management information systems and SEC reporting. She started her career with Ernst & Young after receiving her Bachelor’s Degree from Beijing University School of Foreign Studies and Masters Degree from Columbia University.
Balin Zheng Leading international banker currently serving as Senior Advisor to Citigroup in Shanghai. Retired after 25 years experience with Bank of China, most recently as CEO in the United States, and also served in Shanghai, Hong Kong and London. Actively involved with the Institute of International Bankers, the China Chamber of Commerce and the United Nations, where on behalf of the UN he has been a guest speaker in Brazil and other countries on Foreign Direct Investment. Graduate of Peking Foreign Languages College and a guest lecturer at Harvard Business School.
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Greater China Corporation Announces Mongolia Agreement
NEW YORK, Oct 30, 2007 /PRNewswire via COMTEX/ -- NEW YORK, Oct. 30 /PRNewswire-FirstCall/ Greater China Corporation (Pink Sheets: GCHC.PK today announced an agreement to form the "U.S. - Mongolian Development Corporation" ("USMDC") in partnership with Envirodesign, International Architects and Planners. USMDC will be initially owned 50% by GCC and 25% by Envirodesign with the remaining shares being held by Mongolian and international development and financing partners. A fully-integrated plan for a residential, commercial, industrial, education, healthcare and entertainment community has already been designed which emphasizes the use of solar energy and other environmentally beneficial technologies.
The partner organizations have been working together for a number of years to identify the ideal location for an initial project using the unique COMPONOFORM(TM) structural building system (see www.componoform.com) which is provided by Envirodesign. After a number of meetings with local developers, government officials and financing partners, Mongolia was selected as an ideal initial site for collaboration of the parties. COMPONOFORM(TM) was selected because it is a highly cost-effective system that can provide year-round construction and employment even during the winter season.
Mongolia, which is situated between China and Russia, is the 19th largest country in the world. With a population of only 2.9 million and with vast untapped precious minerals such as tungsten, molybdenum, tin, copper and gold, as well as a strong agricultural sector, it has great untapped potential. China is its largest trading partner and it is following closely on China's path of economic development with a GDP growth rate exceeding 8%. Its economic policies foster free enterprise and welcome foreign investment.
The Government is a multi-party parliamentary democracy which actively supports transparency and anti-corruption. The President, Nambaryn Enkhbayar, who is fluent in English, is a strong supporter of the United States. President Bush visited the country in 2005 and President Enkhbayar reciprocated in October, 2007 in Washington. At this historic meeting President Bush personally signed a five-year $285 million "Millennium Challenge" grant for the country. This meaningful event was due in large part to the constructive roll played by U.S. Ambassador to Mongolia, Mark Minton.
Following the White House meeting, President Enkhbayar visited New York with Ambassador Minton, who met with GCC, CEO, John W. Allen to discuss the Mongolian project. A follow-up meeting in Mongolia's capital, Ulaanbaatar, is planned during November. Greater China Corporation ( www.gccweb.********.com/) is a U.S. public company specializing in diversified growth opportunities in China and associated economies such as Mongolia. It focuses on unique opportunities for building major companies with experienced entrepreneurs and strong local and international partners.
Statements in this press release that are other than historical facts are "forward-looking" in that they contain expectations about future results. There can be no assurance that the events described in the above announcement will be completed as anticipated.
For additional information please contact: info*greaterchinacorp.com or Jon Scott: hi2jon*hotmail.com or (866) 696-GCHC (4242). SOURCE Greater China Corporation http://www.componoform.com
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GCC is focused on 7 industry sectors where it believes superior results can be achieved. The goal in each sector is to build (not buy) $100 million + enterprises by supporting proven entrepreneurs with local and international partners, financing, market access and exit opportunities. Individual enterprises can be sold, taken public through distribution of shares to GCC shareholders or fully consolidated into GCC through a share swap. Collectively they represent a diversified way to achieve our objective of becoming the investment vehicle of choice for sophisticated individual and institutional investors.
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John Allen does have an impressive staff to turn this stock into a winner.IMO,but I think I will wait until after distribution next month before I pursue it further.May take some $$ from my IRA and put it here for the long term after x-mas week.Although I have not been good with my timing so I may just hafta miss the boat.
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