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FIGURED SHOVEL FOR THAT QUESTION.....LOL
Yet we have to put up with "The sky is falling" every other post???????
LOL...eom
TFN......How about this.....Why is it that HRCT can never file on time?? We hear about HRCT wanting to go to another exchange yet they can't get something as simple as filing on time right. That would be a good start.
We are now in the middle of May, has anyone started a May Q&A or is that a thing of the past?
MisterEC,
I have one favor to ask of you......Can you please change the price chart for HRCT.....A one year chart would work for me.....Every time I read your posts and see those 99 prices tears well up in my eyes.......LOL
OT.........Damn shame what they did to that Penn. kid in Iraq........Either kill them all or get the hell out.......IMHO.....Sorry for the rant.
WELL SAID.
As opposed to Raging Bull?
This place looks more and more like Raging Bull with every message that is posted.....IMHO.
GREEN CHEESE??? VERY SELDOM USED EXPRESSION.......
Posted by: brdsng
In reply to: MisterEC who wrote msg# 52033 Date:4/27/2004 7:44:59 AM
Post #of 52052
"It may be also that the judge throws out the case, awards HRCT all costs, and reprimands the SEC for bringing such a case before it and wasting the courts time." Yes and the moon could be made of green cheese. about the same likelihood. lol
---------------------------------------------------------------
By: mccorry_da_monkey
26 Apr 2004, 07:19 PM EDT
Msg. 202196 of 202202
Jump to msg. #
And the moon is made of green cheese!
Posted by: MisterEC
In reply to: None Date:4/26/2004 5:13:32 PM
Post #of 52033
It may be also that the judge throws out the case, awards HRCT all costs, and reprimands the SEC for bringing such a case before it and wasting the courts time.
Though unlikely we will see the judgement immediately. The arm of the law does not move fast.
So, buy more, grasshopper
Go on a mini-vacation and all hell breaks loose.
This thread is going much in the same direction as RB....IMHO
At least one News person noticed the earnings release.....
http://news.search.yahoo.com/search/news/?p=hartcourt++&c=&ei=UTF-8
Hardcourt's SEC woes drag on net income, but revenues increase
by Tom Bustamante
Staff Reporter
http://news.search.yahoo.com/search/news/?p=hartcourt++&c=&ei=UTF-8
NEW YORK--April 16, 2004--(WSNC) - The Hartcourt Companies, Inc. (OTC BB: HRCT) released their fiscal 2003 results, and stated that their ongoing legal wrangling with the SEC has had a significant effect on their Q4 net loss numbers.
Hardcourt was currently trading at a price of .44, with volume of around 78,000. The company is engaged in acquiring exceptional Chinese companies, and has been building up their portfolio over the past 12 months. So, despite HRCT legal trouble with the SEC, they have been on track in building up a value driven portfolio of Chinese companies.
Below is an overview of their 2003 fsical results:
-- Total revenue grew by 9,697% year-over-year to US$111.3 million led by
both internal growth and strategic acquisitions in the IT distribution and
retailing sector
-- Gross profit increase by 586% year-over-year to US$5.3 million.
-- EBITDA turned profit to US$1.7million from a loss of US$0.6 million.
The Company reported total revenues of US$111,397,742 for 2003, a 9,697% increase over total revenues of US$1,137,011 for 2002. The Company reported a net loss of US$758,480, or US$0.005 per share, compared to the 2002's net loss of US$2,559,409, or US$0.04 per share. The fourth quarter of 2003 recorded a net loss of US$1,549,155 compared to a net gain of US$ 514,204 in the previous quarter. The significant loss in the fourth quarter is mainly due to the accrual for contingent liability of SEC civil law suits of US$1,300,000 and impairments for other investments of US$494,478, both are non cash flow event.
The drastic turnaround of Hartcourt's financial performance compared to 2002 was attributed to its core business restructuring. The company adopted an aggressive expansion strategy in the IT distribution and retailing sector, taking advantage of China's long-term economic growth and continuous double digit IT spending growth. Through its acquisition programs, Hartcourt is consolidating and bringing together a group of synergistic businesses each with a strong regional foothold, to become one of the leading companies in the sector.
Revenue from the IT distribution and retailing business for 2003 were US$110,540,456, representing 99% of total revenue of the Company. The ratio of distribution to retail revenue is 68% to 32%. The revenues from IT distribution and retail business for the fourth quarter of 2003 were US$43,897,565 compared to US$33,231,991 in previous quarter, a 32% increase which was the result of the consolidation of Zhongnan Group in fourth quarter.
There was no revenue recorded from financial data services compare to 2002. Sinobull Information Limited was sold to a non-related company, Genius Technology International Limited ("GTI"), majority owned by First Shanghai Group (HKSE: 00227), on May 7, 2003, for a total consideration of $410,163, which was paid by issuance of 57,826,793 common stock of GTI at value of $0.0071 each. On October 9, 2003, Hartcourt filed Schedule 14C with the SEC to distribute all outstanding shares of Financial Telecom Limited (USA) Inc. to all Hartcourt's shareholders on record date of October 17, 2003. As a result, Hartcourt has completely exited the financial data services business and will no longer include any of its financial results in the future.
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HAVE WE RECEIVED A MARCH ONE YET??????
That (IMHO) is the best news of the whole filing. It means they are working behind the scenes and cutting needless fat and redundancies in the companies that they bought....
We are taking it in the chops today......42 x 44 last time I had enough courage to look....LOL
MRB.....Did they do so to take that as a write off????
Don't look now .43 x .44
I just saw that myself....however I remember last quarter it was $7 million or so.....that is one hell of a burn rate, unless I am missing something (which would not be the first time)....lol.
Very Nice news release....IMHO....Just one question though....
Didn't we have $7 million in cash at the end of last quarter???
As of December 31, 2003, the Company's total cash balance was US$2,486,103, an increase of 3,013.7% over US$79,845 in 2002. Total shareholder equity increased to US$18,259,761 from US$909,211 in 2002, Total current asset increased to US$17,324,781 from US$1,115,823 in 2002. The current ratio for 2003 is 1.6 compared to 0.34 in 2002
SAw that myself Moody....that is a very nice change....50% margin increase is nothing to take lightly....IMHO
Not complaining just stating what I look for........what good does it do them to have a billion in Revs if it costs them a billion and one dollars to get them?. Progress has been made in quite a few areas, IMHO....hopefully it will continue.
I just breezed through it early this morning....Anyone catch how much cash on hand we have?.....last I checked we had $7 million or so........Thanks in advance.
The bottom line should be PROFIT not Revs....IMHO
Have no clue what that means Lugan but the mere fact that you have an "Old Saying" that pertains to bird watching brings LOL........Later all, catch ya in the A.M.
Bird watching?????? Why not just watch the paint dry on the walls.......takes all kinds I guess.....LOL
Yeah....but in my view it takes far to much time and effort to do those things.......time would be better spent creating new business opportunities, or just spending time with the family......all JMHO though. I guess everyone has their addictions in life.....me it's TEXAS HOLDEM........LOL
By the way Daddy, here is one example......
Hartcourt Reports Record Third Quarter Results
MONDAY, NOVEMBER 03, 2003 4:02 PM
SHANGHAI, CHINA, Nov. 03, 2003 (MARKET WIRE via COMTEX) -- The Hartcourt Companies, Inc. (HRCT) (Frankfurt: 900009), www.hartcourt.com, China's fastest growing IT distribution and retail company, today reported financial results for the third quarter ending September 30, 2003.
The company reported total revenues of $ 33,665,719, an increase of 20% over $28,112,109 reported in the previous quarter and an increase of 3124% over $1,044,252 reported in the same period in 2002. Net profit for the quarter totaled $514,204, as compared to the previous quarter's net profit of $463,387. The same quarter in 2002 had a net loss of $77,301.
The third quarter's financial results reflect the solid execution of the Company's mission: to be China's leading IT and Mobile distribution and retail company. During the third quarter Hartcourt's revenues were derived from the operations of its subsidiaries: HuaQing, NewHuaSun and GuoWei. The fourth acquisition, ZhongNan, was completed in October 2003, and its financial performance will be recorded starting Q4 2003.
Hartcourt's profit from continuing operations in the third quarter grew 1056% to $635,567 compared to the previous quarter of $55,002, underscoring the success of Hartcourt's restructuring of its core business and its sustainable profitability.
Hartcourt's cash position has improved to $7,384,200 as of September 30, 2003 from $79,845 as of December 31, 2002. The current ratio of assets over liabilities remains positive. Most importantly, the cash flow from operating activities was $617,596 during the third quarter.
Mr. Richard Yan, Acting CFO of Hartcourt, comments, "This quarter represents our second consecutive report of operating profitability for the company. Through consistent execution, Hartcourt's positive financial trend should continue in Q4 as ZhongNan's financial results will be added to Hartcourt's total revenue and net profit. It gives the Company a strong financial footing to capture future opportunities for growth and consolidation of the IT and Mobile distribution and retail sector. Hartcourt is well positioned to take advantages of China's continuing double digit growth in corporate and consumer IT products spending."
Since February 2003, Hartcourt has acquired controlling interest of HuaQing, NewHuaSun, GuoWei and ZhongNan, all top IT distributors and retailer in China and dominant players in their own geographical areas. The combined revenue in 2002 of these subsidiaries was US$181 Million with a net profit of US$3.1 Million. IDC expects the PC market in China to grow an average of 18-22% percent from now to 2006.
About Hartcourt
The Hartcourt Companies, Inc. is one of China's fastest growing companies in the IT distribution and retail services sector. Hartcourt's growth strategy is to acquire controlling interests in profitable companies with proven management within this sector in key geographical areas of China. Recent acquisitions of Hartcourt included four major IT distribution and retail services companies in Eastern and Southern China (amongst the highest GDP-per-capita in China) that have a combined revenue of US$181 Million and net profit of US$3.1 Million in 2002. Detailed information on Hartcourt can be obtained from: 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. 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, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
Contact:
Cathy Kuang
Tel: 011-86-21-52130673
Fax: 011-86-21-52130664
Email: info@hartcourt.com
SOURCE: The Hartcourt Companies, Inc.
Copyright 2003 Market Wire, All rights reserved
MBR......I personally think those with multi-aliases have far to much time on there hands and are either unemployed or bored house wives.....LOL......no disrespect to our fellow women shareholders intended......LOL
Actually I think their were a few.......
A 4:05 news release would be nice.
The inmates are restless today......must admit I am not fond of this BS every quarter and year (Late filings) myself. How in the world could a company request acceptance onto a new exchange if they can't even get the basics of filing in a timely fashion down??? Having said that I guess we still have a day, although as we have seen in the past filing on the last day does not always keep the "E" away.......JMHO's
Never a dull moment in HRCT land.....LOL
MC....Is that not what I said????? Shareholders of record on a date that the company stipulates.
"It's for any shareholder of record (record date is determined by the company) on a particular date"
How was that Wrong????
Welcome. It's for any shareholder of record (record date is determined by the company) on a particular date, always in advance of the news release.
OT: Don't look now but the Devil Rays might make Mr. S. do just that........LOL
"Now don't expect me to be happy if the Red Sox ever win a championship."
Not IF, but WHEN.....This might be the year.......LOL