The latest research, news, and more from GeoInvesting for Asiana (ASIC) /companies/asic_asiana/overview en-us Fri, 10 Feb 2012 16:41:53 GMT Fri, 10 Feb 2012 16:41:53 GMT 120 3645Tue, 06 May 2008 04:00:00 GMTAsiana is a publicly traded Company on the Pink Sheets. It is in the process of developing a closed loop payment system for the Chinese market. Closed loop payments involve debit cards and/or online payment services backed by a member bank together with a participating merchant in order for the end<BR>user to use the system.<BR><BR>It is similar to "Pay Pal" or "iKobo". However, these 2 systems are commonly known as "open loop online payment systems" and therefore do not require the use of bank accounts from participating banks to function.<BR>Although they are very convenient for consumers, they are prone to online fraud. Closed loop systems are the only type currently allowed in China.<BR><BR>The Company has recently signed a Letter of Intent to acquire BrookcorHoldings, Inc. a Canadian Mortgage Investment Company./companies/asic_asiana/overview