Greater China Corporation
Corporate Headquarters
One Rockefeller Plaza, Suite 1010
New York, New York 10020
Tel: (212) 765-4547 Fax: (212) 218-4223
JWA@greaterchinacorp.com www.greaterchinacorp.com
GREATER CHINA CORPORATION
February 21, 2008
Dear Friends of Greater China Corporation (“GCC”):
After numerous discussions with the SEC and legal counsel, we have taken the initiative to temporarily de-register GCC as a reporting company. According to the SEC this was the only method for us to overcome the lack of suitable historic records available from our former operating subsidiary which was an essential step to returning GCC to full compliance. The symbol GCHC.PK will no longer apply and our shares will not be traded during an interim period which is estimated to be no longer than sixty days.
We will be applying for full SEC reporting status under the name Greater China Corporation, Ltd. (“GCC, Ltd.”), a company which we recently established in Bermuda. Your shares of GCC will be exchanged for shares of GCC, Ltd. on a share-for-share basis and GCC will then be held as a wholly-owned U.S. subsidiary. We will then file a new Form 10-SB with the SEC for GCC, Ltd. including consolidated audited statements for GCC for the two years ended December 31, 2006 and 2007.
We feel that these steps will enable us to realize our long-planned goal of becoming an internationally traded public company, fully compliant with the SEC and optimized for global earnings and shareholders. At the conclusion of this administrative process we can then turn our full attention to the many commercial opportunities before us.
While the company’s legal domicile will be in Bermuda, its operating headquarters will remain at One Rockefeller Plaza in New York City. Upon re-registration with the SEC, we will finally be able to issue regular Quarterly Reports to shareholders, produce a full Annual Report, and hold our Annual General Meeting of Shareholders.
We thank you for your patience and support.
Sincerely,
John W. Allen
Chairman & CEO |
