DUE TO SHAREHOLDERS

9 Months Ended

Sep. 30, 2011

DUE TO SHAREHOLDERS [Text Block]

Note 6 - DUE TO SHAREHOLDERS

Due to shareholders consists of the following:

		September 30,		December 31,
		2011		2010
Yukun Li	$	26,628	$	23,068
Guomin Li		275,619		262,046
Qingwei Zhou		1,923		1,923
Bing Xiao		35,000		6,000
	$	339,170	$	293,037

Guomin Li has been a shareholder of Hongbo since November 2006. Guomin Li was also the Company’s President, Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer and Director before February 22, 2010. Qingwei Zhou has been a shareholder of Chang-On since September 2006. Under the Agreement for the Share Exchange on December 29, 2006, Guomin Li and Qingwei Zhou acquired 17,400,000 and 36,600,000 shares of Gold Standard, Inc. respectively.

On February 22, 2010, Guomin Li sold 10,000,000 shares of the Company to Bing Xiao who also took over Guomin Li’s positions as the Company’s President, Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer and Director.