LAS VEGAS--(BUSINESS WIRE)--Sept. 1, 2005--GFR Pharmaceuticals Inc. (GFRP)(OTCBB:GFRP) President and CEO, Richard Pierce announced the signing of a Letter of Intent and Plan of Exchange with Harbin Yinhai Technology Development Ltd. (YHT).
Harbin Yinhai Technology Development Co., Ltd., established in 1998, is a professional commercial instrument printing enterprise. The business scope of the company covers the printing of bank deposit books, deposit receipts, computer bills and other financial notes, and printing of standard forms for banks and insurance companies, single purpose invoices and other certificates, etc.
Among other terms discussed below, the Letter of Intent also provided that the parties would enter into a plan of exchange to give effect to the share exchange between the shareholders of Yinhai and GFRP. On August 29, 2005, GFRP and Yinhai signed the plan of exchange (the "Plan of Exchange").
