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Gfr Pharmaceuticals (GFRP)
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GFR Pharmaceuticals, Inc. was incorporated under the laws of the State of Nevada on December 18, 1996 under the name Laredo Investment Corp. On January 21, 2000, Laredo entered into an acquisition agreement with GFR Pharma, Ltd., a British Columbia corporation. The transaction was recorded as a reverse acquisition. In June 1998 Pharma changed its name to GFR Nutritionals Ltd. Business operations began in October 1998 after acquiring manufacturing equipment and arranging to manufacture nutritional supplements under a private label contract. On April 5, 2004, GFR Nutritionals Ltd. and R&L Health Inc changed their names to GFR Pharma Ltd. and GFR Health Inc., respectively. On August 9, 2004, Laredo Investment Corp. changed its name to GFR Pharmaceuticals, Inc. The Company is a holding company with two business segments. The Company is engaged in bio-extraction, researching and inventing, manufacturing and sales of biological separation medium products operated by Xi'an Jiaoda Bao Sai Bio-technology Co., Ltd (Bao Sai). The Company also operates a Cancer Diagnosis and Treatment Center with a professional team of doctors through Shaan Xi New Century Scientific Investment Development Ltd. (New Century), which is 95% owned by the Company, in China. The Company owns 100% of Hua Long's outstanding common stock which I engaged in industrial chromatography to separate and purify chemical components for further use in agricultural and biotechnology products and in medicines, as well as for the research, development, manufacture and sale of biological separation medium products. New Century is a medical equipment investment management company, engaged in investment and management of cancer treatment equipment and provides comprehensive services for customers with advanced radiology and oncology equipment. Bao Sai is authorized by the Chinese government to research, invent, manufacture and sell biological separation medium products. As of December 31, 2012, New Century owned three different devices used in the medical centers. The Company's operations comply with all material environmental law and regulations in China.