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Hartcourt Announces Signing Memorandum of Understanding to Co-Sponsor and Hold Up to 80% Equity Interest in Hunan Ningxiang Vocational Education Center
The Hartcourt Companies, Inc. (OTCBB: HRCT) (FRANKFURT: 900009) today announced that it ("the Company") has entered into a non-binding Memorandum of Understanding ("MOU") with Ningxiang Vocational Middle Specialty School in Hunan Province, China ("NVMSS") to co-found Ningxiang Vocational Education Center ("NVEC"). The Company will hold up to an 80% equity interest in NVEC. The transaction is expected to be completed by the end of February 2007 and is subject to completion of due diligence by the Company and execution of the definitive purchase agreements.
The estimated total investment of NVEC is about RMB110 million (US$14 million). The Company will contribute a financial investment of approximately US$6 million cash in the next three years for the 80% of NVEC, as well as providing advice and guidance on renovation plans for the Campus and the debt restructuring. NVMSS will hold the remaining 20% by contributing all of its teaching facilities, faculties and incumbent students. NVMSS, on behalf of Ningxiang government, has agreed to guarantee the annual new student recruitments of NVEC will be not less than 1700, making the estimated net revenue at not less than RMB25 million (US$3.2 million) and estimated profit after tax not of less than RMB8.5 million (US$1.08 million) each year for the five years following closing (2007-2011).
Founded in 1985, NVMSS provides post high school education and vocational training services to students in the region of Ningxiang County, a suburb county of Changsha, the capital city of Hunan Province, China. NVMSS has 2068 students and 131 faculty members. As a government-owned institution, NVMSS was instructed by the county executive to establish NVEC, which will be the leading vocational education organization in the county and the only one with government behind it. NVMSS approached the Company and agreed to co-sponsor NVEC with a view to utilizing Hartcourt's international education resources and other education capacities.
NVEC will be the consolidator of the vocational schools within Ningxiang County. The government agreed to migrate gradually most of the 15000 students to NVEC from other vocational school in the county.
Mr. He Jianhui, the Chief Director of NVMSS who is also heading the NVEC project, commented, "NVMSS is a vocational school with over 20 year history. We will not only migrate our students [resources] to NVEC, but also our established teaching capabilities can make substantial contribution to the new entity. We trust that Hartcourt [with 80% control of NVEC] can help to realize the vision of us, which is to make NVEC one of the best vocational institutions in China."
Dr. Yungeng Hu, President and CFO of the Company, commented, "Ningxiang is a county with population of 1.3 million. It is absolutely a large vocational education market. I am glad that by accessing such a huge market and positioning Hartcourt as the leader in the market, we are building a strong business unit. Hartcourt has agreed to work with the local community to make NVEC an important step for the vocational students to achieve their career goals."
Mr. Victor Zhou, CEO of the Company, stated, "The MOU demonstrates our role as an active educator. We thank the Ningxiang government for their appreciation of Hartcourt's value in participating in the vocational education segment as an 80% interest holder. We won their trust by showing them our differentiated investment strategy. We look forward to working with them in this venture."
More information about NVMSS can be found in its web sites: http://www.nxzyzz.com/
About Hartcourt
Hartcourt's achievements and operations can be found on its web site: www.hartcourt.com
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. Forward-looking statements are identified by words such as "expects," "believes," "anticipates," and words of similar import. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, including those risks identified in the company's filings with the U.S. Securities and Exchange Commission, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
Source: Market Wire (November 21, 2006 - 6:30 AM EST)
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@ CE: Auf jeden Fall!! Ich würde sogar HRCT unter der Rubrik "übergewichten" laufen lassen...!!
Gustav
@ CE: Wir wollen doch nur das Beste für Dich, damit Du Dein Depot zu Weihnachten auch richtig aufgestellt hast...!! Es geht doch nichts über eine konstante Seitwärtsbewegung mit plötzlichen, steilen Anstieg...!!!
Wie die Jungs drüben sagen "patience is the key"...! Ich weiß, für HRCT sehr dehnbar!!! Eigentlich wollte ich mit dem Papier Geld verdienen und nicht meine Enkel...
Gustav
@ Charles: Bleib uns aber bitte erhalten und gucke im 1/2 Jahr mal wieder rein!!
Gustav
Form 10-Q/A for HARTCOURT COMPANIES INC
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13-Nov-2006
Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Forward-looking Statements
This report contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, the words "believes," "anticipates," "plans," "expects," "intends" and similar expressions are intended to identify forward-looking statements. Our actual results and the timing of certain events may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such a discrepancy include, but are not limited to, those discussed in "Risk Factors Affecting Future Results" and "Liquidity and Capital Resources" below. All forward-looking statements in this document are based on information available to us as of the date hereof and we assume no obligation to update any such forward-looking statements. The following discussion should be read in conjunction with our unaudited condensed consolidated financial statements and the accompanying notes contained in this quarterly report. Unless expressly stated or the context otherwise requires, the terms "we," "our," "us" and "Hartcourt" refer to The Hartcourt Companies, Inc. and its subsidiaries
Overview
We are a distributor of internationally well known brand named IT hardware products and related software and services. The main products are Samsung branded notebooks and monitors. Almost all of our revenue for the last two fiscal years and since the transition period ended May 31, 2005 was attributed to distribution revenues from sales of Samsung products in China. Our Samsung distribution business began in March 2003, through the acquisition of a Chinese company named Huaqin Shanghai, who was the distributor of Samsung monitors in the Eastern part of China. In August 2004, Huaqin Shanghai obtained additional distribution rights from Samsung for its notebook product line in the same geographic area. In February 2005, we acquired major assets from a Chinese company named Beijing Control Tech, who was the distributor of ClearOne audio products and Radvision video conference products and services in China. Control Tech's agreement with Radvision terminated on April 1, 2005. We have ceased distribution of Radvision Products during the first quarter of 2006, pending settlement discussions with Radvision to resolve the distributorship dispute.
Most international and domestic manufacturers of IT products in China rely on distributors, such as Hartcourt, to augment their sales and marketing operations. As a stocking, marketing, and financial intermediary, the distributor relieves manufacturers a portion of the costs and personnel associated with stocking and selling their products (including otherwise sizable investments in finished goods inventories, accounts receivables and distribution networks), while providing geographically dispersed selling, order processing, and delivery capabilities. At the same time, the distributor offers a broad range of customers the convenience of accessing from a single source with multiple products and rapid or scheduled deliveries, as well as other value-added services such as after sales service. The growth of the IT distribution industry in China has been fostered by many manufacturers who recognize that distributors are essential extensions of their marketing organizations. Most of our customers require delivery of the products they have ordered on schedules that are generally not available on direct purchases from manufacturers, and frequently their orders are of insufficient size to be placed directly with manufacturers.
Our sales organization is divided into two product lines, the monitor group and the notebook group. Zhou Jing Jing, our Vice President of Operations, who joined Hartcourt during the first quarter of fiscal 2006, is responsible for our sales organization. We have a centralized online Enterprise Resources Planning (ERP) system to support the daily operations, connecting order taking, inventory management, distribution, credit, accounting and other related functions.
We have authorized distribution rights with respect to Samsung monitors, notebooks and certain digital products covering the consumer and commercial product distribution channels in Shanghai, a metropolitan city with a population of 20 million people. The authorized distribution agreement signed between Huaqing Shanghai, a 51% owned subsidiary, and Samsung has a one-year term and is renewed on an annual basis. In exchange for this authorized distribution right, as well as purchase price protection and reimbursed advertising and promotion expenses from Samsung, we are required to achieve quarterly purchase targets set by Samsung and perform sales promotion and advertising activities under Samsung's direction, in addition to meeting other Samsung operational requirements. Almost all of our sales for the quarter ended February 28, 2006 were comprised of Samsung products, of which, monitors accounted for 81% of the revenue and notebooks accounted for 16% of revenue. Approximately 74% of our revenue derived from Sansung monitor sales and 26% from Samsung notebooks in fiscal 2005.
Excluding the Zhejiang Samsung market which we no longer service as of June 1, 2005, our Samsung sales in Shanghai decreased 4.7% compared to a year ago same period.
The markets in which we compete are dynamic and highly competitive. We expect competition to intensify in the future. Our current and potential competitors include the local distributors of Philip and LG monitors in the Shanghai region, as well as other distributors of notebooks made by multinational and leading Chinese notebook manufacturers.
The principal competitive factors that affect the market for our business are available working capital to finance the revenue growth in terms of inventory and trade receivable; the ability to contain operating costs, as well as adding new product lines to our distribution list.
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Although Huaqin Shanghai has been the exclusive distributor for select Samsung IT products in the Shanghai region for the last 5 years, much of the services we provide can be performed by our competitors. In addition, there is a risk that Samsung may allow our competitors or new entrants to the market to take a portion of our Samsung distributor business which would have an adverse impact on our business and revenues.
We sell Samsung monitors, notebooks and digital devices to large regional retail stores and to second tier distributors who then resell to smaller retail stores. To promote Samsung's upscale product image, we also manage several Samsung image stores in Shanghai, selling a full range of Samsung consumer electronic products in Shanghai's downtown shopping districts in partnership with Samsung. For the Samsung products for which we have authorized distribution rights, we provide product warranty services to retail consumers on behalf of Samsung. In addition, we provide and charge for after-sales repair, maintenance and service. Our top customers for the quarter ended February 28, 2006 were Aiwei, a second-tier distributor, which accounted for approximately 11.7% of our revenue; Guowei, a major retailer and a distributor in Shanghai, which accounted for approximately 10.7% of our revenue; and Huahai, a distributor which accounted for approximately 6.0% of our revenue. During the quarter ended February 28, 2006 no other customer or distributor made up more than approximately 5% of our total sales. In fiscal 2005, Hangzhou Huaqin, a distributor in Zhejiang province, accounted for 13.5% of our revenue, Chenqin, a Shanghai distributor, accounted for approximately 7.1% of our revenue; and Wenzhou Huaqin, a distribution in Zhejiang province, accounted for 5.6% of our revenue. No other customers or distributors accounted for more than approximately 5% of our revenue for the quarter ended February 28, 2005.
We source our products from Samsung. As of February 28, 2006, approximately 74% of our Samsung inventory consisted of monitors and approximately 12% consisted of notebooks. It is the current practice of Samsung to protect its distributors, such as the Company, against the potential write-down of such inventories due to technological changes or Samsung's price reductions. Under the terms of the distributor agreement, and assuming the distributor complies with certain conditions, Samsung is required to credit us for inventory losses incurred through reductions in manufacturers' list prices of the items. Because most of our business is on an as-needed basis and varies slightly, we have no customer orders extending more than a week into the future.
We added audio/video equipment distribution business in March 2005, after acquiring major assets from Control Tech, a Chinese distribution company. Our distribution agreement with Radvision was terminated on April 1, 2005. Sales of Radvision products ceased during the first quarter of 2006. Control Tech is trying to amicably resolve the disputes with Radvision. Considering the market price drop, we made a provision on the Control Tech's inventory in the amount of $496,216 in this quarter. As Control Tech did not generate any revenue in this quarter, we made a full impairment for the goodwill arisen from acquiring of Control Tech of $1,079,009 as of February 28, 2006.
Results of Operations
The following table sets forth the consolidated statements of operations and the
percentage change for the three months and nine months ended February 28, 2006,
with the comparable reporting period in the preceding year.
Three Months Ended Nine Months Ended
February 28, Percentage February 28, Percentage
2006 Change February 28, 2005 2006 Change February 28, 2005
Net revenue $ 9,427,749 -28.05 % $ 13,103,965 $ 32,133,061 -38.09 % $ 51,903,530
Cost of revenue 9,194,641 -24.14 12,120,909 30,696,442 -38.08 49,573,787
Gross profit 233,108 -76.29 983,056 1,436,619 -38.34 2,329,743
Operating expenses
Sales and marketing 123,623 -66.93 373,848 194,983 -77.49 866,029
General and administrative 1,703,929 -66.91 5,148,620 2,448,541 -58.89 5,956,249
Total operating expenses 1,827,552 -66.91 5,522,468 2,643,524 -61.25 6,822,278
Interest income/(expenses)-net (54,550 ) -33.90 (82,521 ) (71,320 ) 55.81 (45,773 )
Other income/(expenses)-net 142,897 -128.48 (501,771 ) 650,555 -623.95 (124,164 )
Minority Interest expense 5,852 -97.95 285,215 (522,072 ) 211.50 (167,601 )
Discontinued operations
expenses, net - -100.00 (7,588,920 ) (6,028 ) -99.94 (10,419,538 )
Income before income taxes (1,500,245 ) -87.93 (12,427,409 ) (1,155,770 ) -92.42 (15,249,611 )
Provision for income taxes 209 - - 208,460 - 15,978
Net loss $ (1,500,454 ) -87.93 % $ (12,427,409 ) $ (1,364,230 ) -91.06 % $ (15,265,589 )
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The following table sets forth the condensed consolidated statements of operations, expressed as a percentage of net revenue, for the periods indicated:
Three Months Ended Nine Months Ended
February 28, February 28, February 28, February 28,
2006 2005 2006 2005
Net revenue 100.00 % 100.00 % 100.00 % 100.00 %
Cost of revenue 97.53 92.50 95.53 95.51
Gross margin 2.47 7.50 4.47 4.49
Operating expenses 0.00 0.00 0.00 0.00
Sales and marketing 1.31 2.85 0.61 1.67
General and administrative 18.07 39.29 7.62 11.48
Total operating expenses 19.38 42.14 8.23 13.14
Interest income -0.58 -0.63 -0.22 -0.09
Other income 1.52 -3.83 2.02 -0.24
Provision for income taxes 0.00 -57.91 -0.02 -20.07
Income before income taxes -15.91 -94.84 -3.60 -29.38
Provision for income taxes 0.00 -? 0.65 -?
Net income -15.92 % -94.84 % -4.25 % -29.41 %
Three Months and Nine Months Ended February 28, 2006 Compared to Three Months and Nine Months Ended February 28, 2005.
Net Revenue
We recorded net sales of $9,427,749 for the three months ended February 28, 2006, compared to $13,103,965 for the same period in 2005, excluding the discontinued operations. Lower sales are due to our exit of the Zhejiang province market on the Samsung product as a result of Samsung distribution channel re-arrangement. Excluding the sales in the Zhejiang region in 2005, Samsung product sales in Shanghai decreased by 4.7% for the three months ended February 28, 2006 compared to the prior year period. For the nine moths ended February 28, 2006, we recorded net sales of $32,133,061, compared to $51,903,530 in the prior year period. Excluding the sales to Zhejiang region, revenue decreased 3.8% compared to the prior year period.
Cost of Revenue and Gross Margin
Cost of Goods Sold amounted to $9,194,641 for the three months ended February 28, 2006, compared to $12,120,909 for the comparable period in 2005, excluding discontinued operations. Cost of Goods Sold amounted to $30,696,442 for the nine months ended February 28, 2006, compared to $49,573,787 for the comparable period in 2005, excluding discontinued operations. Almost all of the cost of sales for the three months and nine months ended February 28, 2006 and 2005 represented the cost of Samsung products.
Gross margin was $233,108, or 2.47%, for the three months ended February 28, 2006 compared to $983,056 or 7.50%, for the comparable period in 2005. Gross margin was $1,436,619, or 4.47%, for the nine months ended February 28, 2006 compared to $2,329,743, or 4.49%, for the comparable period in 2005. The decrease in gross margin was due to the consulting service and better product mix for the three months ended February 28, 2005 compared to the comparable period in 2006.
Selling, general and administrative expenses: Our selling, general and administrative expenses were $235,474 for the three months ended February 28, 2006 compared to $1,420,294 for the comparable period in 2005, representing a decrease of $1,184,820, or 83%, due to lower advertising and promotion expenses as well as legal expenses. Selling, general and administrative expenses were $1,012,313 for the nine months period ended February 28, 2006 compared to $2,691,364 for the comparable period in 2005, representing a decrease of $1,679,051 or 63%, due to lower advertising and promotion expenses as well as legal expenses.
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Depreciation and amortization expenses: Our depreciation and amortization expenses were $16,853 for the three months ended February 28, 2006 compared to $18,298 for the comparable period in 2005. The decrease was primarily due to the disposal of property and equipment. Depreciation and amortization expenses were $55,986 for the nine months ended February 28, 2006 compared to $47,038 for the comparable period in 2005. The increase was primarily due to the purchase of property and equipment.
Interest income: Interest income was $2,174 and $76,649, respectively, for the three months ended February 28, 2006 and 2005. The decrease was due to lower fixed deposit in the bank as security of bank loans. Interest income was $75,616 and $164,928, respectively, for the nine months ended February 28, 2006 and 2005. The decrease was due to lower fixed deposit in the bank as security of bank loans.
Interest expenses: Interest expenses were $56,724 and $159,170, respectively, for the three months February 28, 2006 and 2005. The decrease of $102,446, or 64%, was primarily due to the decrease of short-term borrowing. For the nine months ended February 28, 2006 and 2005, interest expenses were $146,936 and $210,701, respectively. The decrease of $63,765 was due to a decrease of short term borrowing.
Income from Continuing Operations: Loss from continuing operations for the three months ended February 28, 2006 was $1,594,444, compared to a loss of $4,539,412 in the prior year period, primarily as the result of lower operating expenses and lower impairment or provision costs. For the nine months period ended February 28, 2006 and 2005, loss from continuing operation was $1,206,905 and $4,492,535 respectively. The decrease was mainly due to lower operating expenses and lower impairment or provision costs in the quarter ended February 28, 2006.
Minority interest: Minority interest represented the profit shared by the minority shareholders of Huaqing (49%) and Control Tech (10%) for the three month and nine month periods ended February 28, 2006. For the three month and nine month periods ended February 28, 2005, minority interest represented the profit shared by the minority shareholders of Huaqing (49%) only.
Income tax: We made provision for PRC income taxes of $209 and $208,460 for the three months and nine month ended February 28, 2006, respectively. This provision for taxes relates to the estimated amount of taxes that would be imposed by tax authorities in the PRC. None of our income is subject to U.S. taxes.
Liquidity and Capital Resources:
Our principal capital requirements during the quarter ended on February 28, 2006 have been primarily funded by Chinese short term bank loans.
As shown in our accompanying financial statements, we had a net loss of $1,500,454 for the three months ended February 28, 2006 compared to a net loss of $12,427,409 for the comparable period in 2005 due to lower operating expenses, various rebates from the vendor and the one-time charge of 7,642,039 from discontinued operations. Our current assets exceeded our current liabilities by $3,082,372 as of February 28, 2006.
As of February 28, 2006, we had working capital of $3,082,372. In addition to our working capital on hand, we intend to obtain needed capital through a combination of bank loans and sale of our equity securities. However, there are no commitments or agreements on the part of anyone at this time to provide us with additional bank financing or purchase of securities. If we are unable to raise the necessary additional working capital, our operations and financial condition may be adversely affected.
Operating activities: During the nine months ended February 28, 2006, net cash used in operating activities increased to $1,592,527, compared to $1,347,937 during the comparable period in 2005. The increase in cash used in operating activities resulted mainly from clearance of other liabilities of Huaqing.
Investing activities: Net cash provided by investing activities during the nine months ended February 28, 2006, was $985,324 compared to $5,498,004 for the comparable period in 2005. The cash provided by investment activities in the nine months ended February 28, 2006 was mostly due to $522,116 proceeds from disposed property and recovery of notes in the amount of $486,603.
Financing activities: Net cash used in financing activities during the nine months ended February 28, 2006 equaled to $8,245 compared to $4,542,021 during the comparable period in 2005. Net cash used in financing activities in the nine months ended February 28, 2006 and 2005 mainly represents the repayment of balance due to related parties.
As a result of the above activities, we experienced a net decrease in cash of $565,020 for the nine months ended February 28, 2006.
Contractual Obligations
As of the three months ended February 28, 2006, we do not have any contractual obligation other than the facility leases described in Note 13 (b) of financial statements.
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Off-Balance Sheet Arrangements
During the quarter ended February 28, 2006, the Company did not engage in any off-balance sheet arrangements as defined in Item 303(a)(4) of the SEC's Regulation S-K.
Critical Accounting Policies and Estimates
For a description of what we believe to be the critical accounting policies that affect our more significant judgments and estimates used in the preparation of our condensed consolidated financial statements, refer to our Annual Report on Form 10-K for the 5-month transition period ended May
Hat Ursli sich eine neue ID zugelegt???
Gustav
@ McC: Nee, er würde den "KLIMMer" ins Spiel bringen...!! Bin gespannt, ob wir heute zu Börsenbeginn wieder so eine geballte Offensive sehen!!
Gustav
Wo ist die Ente eigentlich?? Macht viel mehr Spaß, wenn die kleine Meckerente wieder das Haar in der Suppe sucht...! Sollte HRCT die angekündigten deals wirklich realisieren, wird die Aktie von einem Zockerwert zu einem "konservativen" Investment! Dann würde ich nicht schnell Gewinne realisieren, sondern hoffe auf einen weiteren, steten Kursanstieg!! Hängt wirklich von der persönlichen Vorliebe ab: Ob man innerhalb von 2 Wochen vielleicht 50 % machen möchte und wieder verschwinden oder hofft, irgendwann den ganz großen Wurf (langfristig) zu machen! Ich habe lang genug gewartet, daher gehöre ich auch weiterhin zur Gruppe 2...
Gustav
@ Danillo: Wo gibt es das Kraut, was Du rauchst...?
Gustav
@ McC: Danke, habe mir auch schon selbst auf die Schulter geklopft...lol!!
Gustav
Wer hätte gedacht, daß die Ente noch mal so groß einsteigt...lol ?
Gustav
@ shovel: Keep up the good work an give me input!!!! Unfortunately I don`t have RT!!
Tia
Gustav
0,08 x 0,085 !!! Fast 600.000 Aktien!!!
368 k! 0,075 x 0,08 !!! Aufwachen, HRCT` ler in Deutschland!!!
Gustav
0,07 x 0,078 !! 180.000 gehandelte Aktien in USA nach 2 Minuten!
Gooo HRCT
Gustav
@ McC: Ist das eine ernste Frage?? Mit Phantasie gibt es hier einen selbsternannten Vollguru, der sich sehr ähnlich anhört...
Gustav
Wir wollten die Jungs da drüben ja auch nur mal ein bißchen unter Druck setzen...lol
Gustav
31.000 Stück in Frankfurt zu 0,064! Ergibt 0,082 $ !!! Wer so viel Aufgeld bezahlt muß die Aktie doch lieben!!! Ente!!?
Gustav
Nun sag doch endlich, daß es Dich tierisch in den Fingern juckt, alte Ente...lol!? So billig bekommst Du die nie wieder...
Gustav
Jetzt dreht Frankfurt aber etwas am Rad! Bid: 0.06, Ask: 0,067! Oder sollte etwas in der Luft liegen...?
Gustav
Aber so ungewöhnlich ist doch ein Kurs in Frankfurt von 0,06 gar nicht!? 0,06 x 1,27 = 0,076, genau der Schlußkurs gestern drüben!! Wir waren zwar in letzter Zeit immer eher unter Parität, aber hieraus schon news zu schließen??? Aber wer weiß, von mir aus gerne...
Gustav
Muß man das verstehen? Es geht heute morgen mit relativ hohem Volumen nach unten und jetzt berappeln wir uns bei kleinen Umsätzen! Normalerweise läuft der Hase doch andersrum!? Kurs drüben 0,07 $; Bid: 0,075 $; Ask: 0,078 $ !! Nicht falsch verstehen, mir soll es recht sein
Gustav
@ Franz: 100 %ige Zustimmung! Gerade die letzte Schule ist ja vom Umsatz und der Gewinnerwartung sehr interessant. Und wenn sie zur Zeit mit solchen prozentualen Zuwächsen an Studenten rechnen, kann man ihnen nur gratulieren, daß sie sich dieses business ausgesucht haben!
Das Jahr ist ja auch noch nicht um, vielleicht kommen ja noch mehr positive Überraschungen von HRCT!? Die ersten beiden Schulen sollen doch noch dieses Jahr übernommen werden, die letzte bis Februar 07. Vielleicht sieht man erst Mitte 2007 die Zahlen in der Bilanz, aber abzusehen ist der turnaround wohl schon im ersten Quartal 2007!?
Bin gespannt, ob HRCT uns auch vom Kurs her schon ein kleines Weihnachtsgeschenk macht...!
Gustav
@ CE: Und genau deswegen bekommst Du auch eher Magengeschwüre als ich...lol. Laß Dich von Deiner negativen Art nicht so runter ziehen und paß auf, daß Du ganz schnell an Dein anderweitig investiertes Geld rankommst...!!!
Gustav
Natürlich könnte Euer Szenario auch eintreten, aber es kann auch sein, daß sie sogar dieses Jahr noch weitere geplante Übernahmen bekannt geben!!! Und wenn dann "nur" 1 Übernahme dieses Jahr verbindlich über die Bühne geht, der Rest aber im Januar/Februar 2007, habe ich damit überhaupt kein Problem!!!
Ist natürlich nur ein Bauchgefühl von mir, aber ich glaube, daß sie die Fehler von damals nicht wiederholen werden und die Übernahmen auch tatsächlich getätigt werden.
Gustav
@ bauingenieur: Ich finde, man darf nicht ganz vergessen, daß sie ihr business erst vor ein paar Monaten total umgestellt haben. Seitdem haben sie das filing-Problem von 2003 gelöst, pünktlich ihre Quartalsabschlüsse vorgelegt, ihren business-Plan beim Aktionärstreffen erläutert und innerhalb von ganz kurzer Zeit 3 "mögliche" Übernahmen präsentiert. Natürlich ist hier noch nichts in trockenen Tüchern, aber das kann man nach so kurzer Zeit wohl auch kaum erwarten!
Sie haben ja sogar mit ihren Ankündigungen noch mächtig untertrieben (sie wollten dieses Jahr ja nur 1 Übernahme tätigen) und wahrscheinlich einen Investor ins Boot geholt!! Natürlich ist die Aktie zur Zeit noch sehr spekulativ zu betrachten, aber das kann sich sehr schnell ändern! Ich würde einen Einsatz jetzt nicht unbedingt als "Spielgeld" abtun...
Gustav
ich habe ask bei 0,075, aber selbst das kann man bei nicht mal 70.000 gehandelten Aktien vernachlässigen! Ein sehr träger Tag; schade nach diesen news gestern, daß die Reaktion und Umsätze so dünn sind. Wahrscheinlich muß doch mal "Butter bei die Fische" gegeben werden, wie die Finanzierung genau laufen wird! Aber grün ist auf jeden Fall besser als rot...
Gustav
@ Franz: Obwohl ich schon etwas "entsetzt" war, daß wir nach der gestrigen news nicht einen größeren Schub gemacht haben! Immerhin fallen da 8 Mio Umsatz und 2,5 Mio Gewinn an (ich weiß, man hat "nur" 51 %), also deutlich mehr Phantasie als bei den ersten beiden news! Meinst Du wirklich, daß man auf Quartalsergebnisse wartet? Eigentlich müßte doch schon vorher Phantasie aufkommen!?
Gustav
Ich gehe fest davon aus, daß sie einen Investor haben! Sie können doch nicht Transaktionen für 9 Mio tätigen wollen, haben aber die Finanzierung nicht in trockenen Tüchern!?! Was ich nur nicht verstehe, warum man die Finanzierung oder potentiellen Investor nicht vorstellt!? Dann würde die jetzigen news doch wahrscheinlich sehr viel mehr bewegen können!?
Hmmmm, irgendwann wird es die Antwort darauf geben!Ich warte jetzt schon mehr als 7 Jahre, da kommt es auf einige Monate nicht mehr an...
Gustav
@ CE: Wahrscheinlich war das konservativ betrachtet, sie wollten sich (nicht wieder) zu weit aus dem Fenster lehnen! Oder waren in den Vorverhandlungen stärker als sie gedacht haben!?
Aber stellt euch vor, sie hätten diese PR`s nicht rausgebracht! Der Kurs wäre tiefer und noch weniger Phantasie in dem Wert. So sind bestimmt schon einige hellhörig geworden, den der Lauschlappen dann endgültig abfällt, wenn sie die Finanzierung offen gelegt bekommen...!!
Mir gefallen diese Meldungen außerordentlich! Ich habe inzwischen sehr viel Vertrauen zu dem Management und finde es sehr gut, daß die geplanten Übernahmen mit cash und nicht mit Aktien bezahlt werden! Klar könnte der Kurs etwas mehr positiven Drive bekommen, aber wer weiß, vielleicht springen da bald einige auf den Zug auf!?
Gustav
@ McC: Insgeheim glaube ich schon, daß er den Finger am Abzug hat!!! Aber ob er es auch zugibt...lol !??
Gustav
Vorstellen kann ich es mir auch nicht, daß sie den 3. deal jetzt mit cash bezahlen wollen, aber die Finanzierung nicht geklärt haben!!! Darauf würden sich doch die zu übernehmenden Schulen auch gar nicht einlassen!! Ist das Mißtrauen HRCT gegenüber nur noch zu hoch oder wartet man erst auf Vollzugsmeldung!?? Warum geht der Kurs denn nicht viel mehr ab!??
Gustav
@ CE: Quatsch, dafür bekommst Du 2.400 HRCT Aktien!!! Und damit am Ende des Jahres 2.400 Euro...lol!!
Gustav
@ CE: Du weißt doch, daß das nur die Ruhe vor dem Sturm ist...!? Wir wollten Dir nur Zeit geben, Deine Position aufzubauen..lol!
Gustav
Ooooh, Rattle hört sich jetzt schon sehr viel positiver an; wenn wir jetzt auch noch die kleine Ente auf unsere Seite ziehen können, kann hier noch mal richtig die Post abgehen...lol
Gustav
Aber die Umsätze sind recht dürftig! Ich glaube auch, daß wir über 0,07 bleiben, vielleicht sogar 0,08 heute knacken werden! Wenn aber nicht die Umsätze und damit das Interesse anzieht, geht es nächste Woche direkt wieder runter! Leider!
Gustav
Aber wenn man einen finanzstarken Investor gefunden hat, kann man doch gerne noch mal zuschlagen!? Immerhin dauert es eine Zeit bis sich die Zahlen in der Bilanz auswirken! Außerdem wollten sie doch eine "aggressive" Politik betreiben!? Könnte mir fast vorstellen, daß sie sogar noch 1 bis 2 geplante Übernahmen in der pipeline haben!
Gustav
@ CE: Bei 2.300 Stück Umsatz. Immerhin 115 Dollar...
Gustav
mmmmh, für ein Börsenunternehmen, welches demnächst ganz große Sprünge machen soll, ist ein Umsatz von $ 26,-- nach über einer Stunde Handelszeit etwas dünn...lol
Gustav
@ CE: Alles andere hätte mich auch enttäuscht...! Ente, da sitzen neue Leute im Boot, die bis jetzt relativ konsequent ihren Weg gehen! Paß auf, daß Du nicht hinterher schwimmen mußt....lol
Gustav