From GTCI PR's:
To acquire a total of four (4) subsidiary corporations of Hartcourt Companies, Inc. referred to as the "Sinobull Group" via a share exchange which will result in Hartcourt and the minority shareholders of the Sinobull Group owning 76.32% of the issued and outstanding shares of the Company.
The Company received over 17,919,341 votes from shareholders, representing 57.9% of the total shares outstanding, in favor of the merger with Sinobull Financial Group. The merger has been approved by GTCI shareholders and is waiting approval by the SEC. The merger is expected to be completed by May 31, 2002.
The actual outstanding shares prior to the merger stands at 23,671,449 according to this, so only ~2.368M (23.68%) after the 1:10 RS occurs, and SinoBull will own ~7.632M(76.32%), for ~10M O/S.
With a stated revenue of $4M annually, the P/S ratio at .50 would be a low 2.
About Sinobull Financial Group
The Sinobull Group has been in business for sixteen years and is a leading financial content provider, develops technologically advanced financial services platforms and operates a financial internet portal. The Sinobull Financial Group provides; news, data, financial analysis, real-time pricing, historical pricing, indicative data, and wireless communications technology to the Greater China business community and media outlets. Providing financial services for; China's investment institutions, commercial banks, government offices and agencies, corporations, and news/media organizations.
The operating assets of Sinobull Financial Group include:
1. Financial Telecom Ltd (FTL)
An 18-year old provider of financial data and information to banks and brokerage houses, located in Hong Kong. Financial Telecom Ltd: Manages and distributes content via terminals in Hong Kong. A 17 year-old company with respected management from the industry.
2. FTL is also a majority shareholder of Fintel Wireless Ltd, a financial paging network and wireless data operator; Fintel Wireless Internet Ltd: Distributes content via pagers in Hong Kong and China.
3. Hopeful Internet Technologies Ltd, owner of Sinobull Information Company (formerly known as Guo Mao)
A 5-year old financial data and information provider to banks and brokerage houses, located in Shanghai, China; Sinobull Information Co., Ltd: Manages and distributes content via terminals in China. An aggressive 4-year old company with major banks and brokerages as clients. Manages the best currency portal in China, http://www.fx168.com
4. Tiandi Hulian Technologies Ltd, owner of the most popular financial portal in China, Sinobull Network Technology Co., Ltd: Manages the most popular financial portal in China, http://www.sinobull.com
-- awarded a medal in two consecutive years in Year 2000 & 2001 as one of the "Outstanding Chinese Financial Websites".
5. Ton Bo Software Ltd: Provides technology solutions to financial institutions. Distributes the well-known Equis products of Reuters.
6. HC Financial TV Channel Ltd, a Shanghai-based TV production company providing financial news and analysis via a network of cable TV in China (to be launched in 2002).
7. Sinobull Magazine Ltd: Publishes a monthly magazine in financial news and analysis (to be launched in 2002).
1. Content Management: Collection and analysis of comprehensive in-house database of financial news and company reports.
2. Distribution Network: Distribute this content to customers via:
**Technology Solutions: Providing technology support to ensure clients get the most efficient solution for their application.
**Business Terminals: using leased lines, broadband, satellite, pagers, VBI.
**Internet-Based: Web sites, wireless portals, SMS.
**Cable TV Network: HCTV Financial TV.
**Printed Media: SinoBull Magazine
PRODUCTS AND SERVICES
1. Financial Contents: Real-time stock quotes, charts, commodities, foreign currencies, company reports, market data, analysts' research, economic news, CEO interviews etc.
2. Distribution Systems For This Content: Traditional business terminals, wireless pagers, financial portals, cable TV, newsprint etc ...
3. Technology Solution: Software for online trading (Shangdi TRX), analysis tool (MetaStock), financial solution provider (FX Bao) etc.
PARTNERS, ALLIANCES, CLIENTS
1. Equis/ Reuters
2. Yahoo! China
3. Bank Of Communications
4. Microsoft (China) Ltd.
5. China Telecom
6. China Cable Network
7. People's Daily
8. China Securities Daily
9. China Info
Sinobull Network Technology, has signed partnership agreements with five of Greater China's leading telecom and Internet companies to begin the distribution of its comprehensive financial information, stock quotes, and analysis on the local and international stock markets to millions of mobile phone users in China. Sinobull Network owns and operates http://www.sinobull.com,
one of the leading financial information portals in China ... voted "Most Popular Financial Web Site" two years running by the China Security Times.
The company's recently signed revenue sharing deals with key players in the mobile data business include:
-- UTStarcom (Nasdaq: UTSI) http://www.utstar.com
-- the key supplier of PAS mobile networks and equipment for China Telecom, China's largest telecom company
-- CellStar http://www.cellstar.com
-- one of China's largest mobile phone distributors
-- China Telecom 168 -- 168 is the SMS service of China Telecom
-- HongLian95 http://www.hl95.com
-- a major value added telecom services provider in China
-- Sina.com (Nasdaq: SINA) http://www.sina.com
-- one of Greater China's largest portals
-- China Telecom Hotline -- information hotline services from China Telecom, via fix line
CHINA MARKET POTENTIAL
1. Population: 1.4 Billion in total, over 100 Million high income executives and business personnel in 9 major urban centers;
2. Growth: fastest in the world with an average of 8 percent sustaining for the last 12 years;
3. GNP: The size of the total economy is projected to equal the existing size of the USA in 2015.
4. Internet: Registered users of the Internet are expected to surpass the US in 2010 with over 250 Million people.
"Mobile data communication is a very exciting area of growth for the mobile communication industry, and Sinobull Network has successfully leveraged its unique advantages in financial content to secure revenue sharing agreements with these key industry players", said Dr. Wallace Ching, Hartcourt's CEO. "The agreements have generated revenue from day one, and we expect a very healthy growth in this business as the mobile data market continues to expand."
China has recently passed Japan and the US and now has the largest mobile phone user population in the world, with approximately 140 million registered subscribers. Data mobile communication is becoming a very important sector of revenue growth for carriers. Short messaging service (SMS) enabled mobile chat, financial data, and other forms of data communication have become very popular with mobile users and is growing at a rapid rate. According to industry reports, SMS traffic is projected to generate approximately 300 million USD for China's mobile phone markets in 2002.
Mr. Stephen Tang has been the Managing Director of Financial Telecom for over 17 years. Before Joining Financial Telecom, he had 8 years of experience in banking and finance in HK and South East Asia. He holds a master's degree in Business Management.
Mr. Jiang Tai has been the managing director of Sinobull Information (formerly Guomao) for 5 years. Before that he had 4 years of experience in the Chinese financial services market. He holds a master's degree in Science and Technology.
Mr. Kenneth Lee joined HCTV in Year 2000. Before that, he had been the CEO of several well-known nationwide and international firms in financial markets. He has had over 10 years of experience in the field.
Mr. Alex Pang, Director of marketing and sales in Financial Telecom, graduated in 1975 from HK Baptist University in Business Management. After serving for a MNC for 15 years, he joined the company in 1990 to establish a paging network and call center for distribution of real-time financial data to the market.
Mr. Cheng Xionghai, general manager of Sinobull Network Technology Limited and the main co-founder of the Sinobull website, came to us from China Securities Co., Ltd. He was degreed in Finance and is a Certified Security Analyst in
Mr. Terry Wong, currently President and CEO of GTCI, has extensive experiences and held several senior executive positions in telecommunications, real estate and investments in Asia and North America. Mr. Wong received his BA degree in Commerce & Finance from Simon Fraser University, Canada.