Asiana Corporation (GREY:ASIC)

Asiana 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
user to use the system.

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.
Although they are very convenient for consumers, they are prone to online fraud. Closed loop systems are the only type currently allowed in China.

The Company has recently signed a Letter of Intent to acquire BrookcorHoldings, Inc. a Canadian Mortgage Investment Company.