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Web site: www.componoform.com/ www.gccweb.blogspot.com/
Greater China Corporation Announces Mongolia Agreement
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greaterchinacorp.com
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 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 ( greaterchinacorp.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 componoform.com
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TongRenTang Wellness Corporation in partnership with TRT USA Corp. News story!
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CEO's Message:
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 canceled 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 1,400 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 ecomomies."
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.
Sincerely,
John W. Allen
Chairman & CEO
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