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Right now any kind of activity on this stock would be good. No web site, no news is bad news.
Correct me if i am wrong, but I don't believe you can short a bb stock.
Volume at 11:30 this morning at 150,000 as compared to an average day of 84,707. Price uo 42% to .003. Web site still down since 7/2/2010. Anybody know what's going on?
They probably just put in a market order instead of limit. Would be nice to get some kind of news out of this baby.
3:15 PM volume 106,100, stock up 56% to .0094. No news. Anybody have any idea why?
A new low. Not the way I hoped it would go. Like they said in Apollo 13 what do we have on the ship that is working?
Here is the 8K:
Form 8-K for HARTCOURT COMPANIES INC
--------------------------------------------------------------------------------
24-May-2010
Other Events
Item 8.01.Other Events
Amanda Zhang, the former Vice President, violated the company's bylaw in many aspects and misused the title of Vice President though knowing the fact she was not the Vice President of Hartcourt since May 4 2010. The company will claim the losses and damages caused to it by Amanda's improper behavior.
According to the comments of SEC for the transaction with Sino-Canada, Sino-Canada was obliged to provide its audited financial report of 2009 to satisfy the inquiry of SEC. Sino-Canada failed to deliver audited financial report to Hartcourt, which caused the company incapable to reply the comments of SEC. The company foresees that the transaction with Sino-Canada will be terminated for the breach of representation and warranty on the Sino-Canada side. The company will claim the losses and damages caused to it by the breach of agreement on the Sino-Canada side.
Couldn't have said it better.
Is the party over yet?
Hunker Down, it's a Southern saying. Like Hunker down Dawgs, if you're a Georgia fan. Probably hard to understand if you're from sunny Hawaii. I think we all wish we were in Hawaii now!
Bob
Thanks Aries and Lucky5ive for the update. Hrct was my top % gainer today. Hope it is not just a flash in the pan.
Hartcourt is popping up on my screen again after a Rip Van Winkle nap. Any news, or is the new PR company just doing it's job? Is the merger still on. Thanks for any updates.
Bob
A late 10K. Some things change, but old habits are hard to break.
Thanks for the post Frantz. Who was the author?
Volume at 33k today. Looks like out 100k per day trader has run out of stock to sell. Good riddence buddy!
Is that what a dead cat bounce looks like? If you ask me there is no way to go but up. Lets hope the 100k seller is outa here.
Just think, we'll be up 100% if this baby goes to 2 cents. Where else can you get that kind of ROI?
The $200 club has done a 1000 for 1 reverse split. We are now looking to go to $2.00
Check out the chart on CAST. What are they doing differently than Hartcourt? Why are they so successful while we just sit here?
Hi Lugan. The source for my post was Fidelity Investments. I typed in HRCT in the quote box and clicked on news. The article popped up.
Bob
This has got to make you feel all warm and fuzzy. From Yahoo news on Hartcourt: Accounting & Governance Risk Overview: The Hartcourt Companies Inc.
08:23 a.m. 05/18/2009 Provided By Research
The Hartcourt Companies Inc. (HRCT) is currently rated as having
Very Aggressive
Accounting & Governance Risk (AGR®), receiving an AGR score that places them in the
1st percentile
among the approximately 8,000
companies in North America
rated by Audit Integrity, indicating higher accounting and governance risk than
99% of the other companies.
Does this late filing mean the dreaded E is coming back?
If it ain't EZ and it ain't Bar it must be you Tin. I'm sure whoever is selling the 100k at .011 in the morning is the same person who buys the 5K at .014 at the close to prop the price up.
It's 9:34 AM and again we have 100,000 shares sold at .011. I sure would like to know who is dumping these shares every day.
I'm not thrilled with a reverse split, but it may be our only option at this time. It is better to issue shares to buy additional enterprises than borrow more money to do the same. I do think we will take a hit back to .015 a share after the split but the company will be able to move forward. I would rather have my shares diluted with the potential for future growth than the other option of just withering on the vine.
Anyone going to the meeting?
In case you missed it:
Hartcourt Companies Inc., Annual General Meeting, Apr 05, 2009
09:23 a.m. 03/18/2009 Provided By CapIQ
Hartcourt Companies Inc. (HRCT), Annual General Meeting, Apr 05, 2009, at 10:00 CCT-China Coast, USSR Zone 7. Location: office Room 503, Jinqiao Building, No.2077, West Yan'an Road, Shanghai Province, China. Agenda: To elect five directors; to resolve to reverse-split the issued and outstanding common shares of the company; and to transact such other business as may properly come before the meeting
Another 100,000 shares traded today at the open at .011. Anybody have a clue as to what's going on?
It's been my experience that after a penny stock does a reverse split the price immediately falls. It seems like management wants to reduce the number of outstanding shares while keeping the same number of authorized shares. Will management then dump these new shares on the market to raise additional capital. My experience with Hartcourt says they will.
Here is the ad from IH Home Page:
Hartcourt Company Inc(HRCT) Hartcourt Company Inc. is an educational services provider in China focusing on professional education.
On July 23, 2008, Hartcourt closed the acquisition of Beijing Yanyuan, on October 31, 2008, Hartcourt closed the acquisition of China Arts and Science Academy. The company completed important steps in implementing the business plan and toward becoming a leading provider of vocational education.
On October 15, 2008, Hartcourt filed 10Q for the first quarter of fiscal 2009 with revenues. On January 14, 2009, Hartcourt filed 10Q for the second quarter of fiscal 2009 with profits. The profits of the whole quarter (3 months) for Beijing yanyuan, and profits of 1 month for China Arts and Science Academy have been consolidated in the second quarter of fiscal year 2009. The substantially improved financial report of Q2 marked our continual ability to deliver solid earnings growth in the future.
Our two profitable subsidiaries, Beijing Yanyuan and China Arts & Science Academy, all finished their profits commitment successfully, which are above the expectation, in spite of the global financial crisis, the global economic slowdown or the economic slowdown in China.
Revenues were $643,996 for the three months ended November 30, 2008 compared to zero for the same period in 2007. Net income from continuing operations for the three months ended November 30, 2008 was $274,633, compared to loss of $900,657 for the same period in 2007. As shown in our accompanying financial statements, we had a Net income of $251,571 for the six months ended November 30, 2008, as compared to a net loss of $1,146,873 for the same period in 2007.
The profits for the whole quarter (3 months) for Beijing yanyuan, and profits for the whole quarter (3 months) for China Arts and Science Academy will be consolidated in the third Quarter; the relevant financial report of Q3 will be improved substantially. We look forward to the profitable fiscal year 2009.
The finished two successful acquisitions, which proved to be very profitable, were parts of our long-term strategy to gain a solid footing in China education field, with the foundation built, the further acquisitions will speed up.
Based on our great achievements during the past 232 days, several Chinese investors have will to loan fund to Hartcourt for further acquisitions using more cash, which is under negotiation now.
With the major hindrance behind us and aggressive restructuring and acquisitions under way, we believe Hartcourt can lead the way in delivering exceptional growth, value and opportunity to our shareholders in Fiscal 2009 and beyond.
Hard to believe that a $6.40 trade made at 4PM takes our closing price from .02 down to .016.
I've got sticky notes also. Anyone know how to get rid of them?
An on time filing and profit to boot! What's not to like?
If the 10K is on time it will show they are getting their act together. If we show a profit then it is the beginning of a new era. This is an important 10K.
I agree, seems to be slow steady progress. You definately need patience to own this stock.
Merry Christmas Everyone!
Does make you wonder why the SEC spent all that time investigating a Chinese penny stock, when down the street Madoff was ripping off to the tune of 50 billion.
My favorite part:
Building upon our accomplishments in the past several months, we are eager to demonstrate additional progress in the near future. We expect to acquire more educational subsidiaries with substantial profits in the coming years.
With the major hindrance behind us and aggressive restructuring and acquisitions under way, we believe Hartcourt can lead the way in delivering exceptional growth, value and opportunity to our shareholders in Fiscal 2009 and beyond
I like what I see in the press release. It's nice to hear from management. Looks like we are on track and ready to pick up more sub's in the future
Press Release 11/10/2008 Periodical Highlight Summary
Periodical Highlight Summary
Dear Fellow Shareholders:
We would like to update you on our progress in the past several months since June 1, 2008 and our expectations in the near future.
On June 13, 2008, Hartcourt signed a definitive agreement to purchase 60 % of outstanding equity interests of Beijing Yanyuan Rapido Education Company (¡°Beijing Yanyuan¡±). Under the terms of the definitive agreement executed between Beijing Yanyuan and Hartcourt, Beijing Yanyuan committed that its net profit would exceed RMB6 million (US$827,000) for the year 2008, RMB10 million (US$1.379 million) for the year 2009, and RMB14 million (US$1.931 million) for the year 2010.
On July 23, 2008, Hartcourt closed the acquisition of Beijing Yanyuan, which was a subsidiary of Hartcourt from July 24, 2008. We completed the first step in restructuring Hartcourt to enter into the education/training market in China.
On September 2, 2008, Hartcourt released a practical business plan, with the strategic vision to be a for profit leading provider of education and training services in The People's Republic of China.
On October 18, 2008, Hartcourt signed a definitive agreement to purchase 60% of the outstanding equity interests of China E & I Development Co. Ltd. (China Arts and Science Academy). China Arts and Science Academy is a leading provider of online education in China focusing on vocational education. Under the terms of the definitive agreement executed between China Arts and Science Academy and Hartcourt, China Arts and Science Academy committed that its net profit would exceed RMB5 million (US$735,294) for the first year in which its results are consolidated with Hartcourt¡¯s, RMB7.5 million (US$1.103 million) for the second year in which its results are consolidated with Hartcourt¡¯s, and RMB10 million (US$1.471 million) for the third year in which its results are consolidated with Hartcourt¡¯s.
On October 31, 2008, Hartcourt closed the acquisition of China Arts and Science Academy, which was a subsidiary of Hartcourt from November 1, 2008. We completed another important step in restructuring Hartcourt to become a leading provider of educational services in China. Vocational education services are one of the cornerstones of Hartcourt¡¯s educational service strategy. We see this successful acquisition as a further important step in implementing our business plan and toward Hartcourt becoming a leading provider of vocational education.
On October 15, 2008, Hartcourt filed 10Q for the first quarter of fiscal 2009 with revenues, which represented Hartcourt thoroughly turned around from a shell company without revenues.
Revenues were US $215,967 for the three months ended August 31, 2008 compared to zero for the same period in 2007. The increased revenue was primarily due to revenue generated by Beijing Yanyuan, which was consolidated from July 24 2008, with its operation results of 39 days consolidated into the first quarterly report. We successfully executed on our expansion plan in the first quarter of fiscal 2009.
As a result, the financial report of Q1 marked a new beginning of an era with revenue for Hartcourt. We are delighted with the financial performance in our all-important first quarter of this fiscal year.
The revenues of the whole quarter (3 months) for Beijing yanyuan, and revenues of 1 month for China Arts and Science Academy will be consolidated in the second Quarter we believe the relevant financial report of Q2 will be improved substantially.
Hartcourt's first quarter performance marks the continuation of our ability to deliver solid earnings growth in the future. We look forward to expand further in next quarters to build a strong foundation for the coming years. At the same time, we shall set a higher standard of corporate governance and transparency.
The positive trend should continue in next quarters as new acquisitions are coming on stream. This year will be a crucial year to achieve the goal of our business strategy. We are pleased for our past success, but we believe the future of Hartcourt will be brighter.
The finished two successful acquisitions were parts of our long-term strategy to step into and gain a solid footing in China education field, with the foundation built, the further acquisitions will speed up.
Building upon our accomplishments in the past several months, we are eager to demonstrate additional progress in the near future. We expect to acquire more educational subsidiaries with substantial profits in the coming years.
With the major hindrance behind us and aggressive restructuring and acquisitions under way, we believe Hartcourt can lead the way in delivering exceptional growth, value and opportunity to our shareholders in Fiscal 2009 and beyond.
Thanks for your continued support to Hartcourt. We look forward to updating you on our progress throughout the whole year.
Best Regards
Victor Zhou
Chief Executive Officer
About Hartcourt
Hartcourt Company Inc. is an educational services provider in China focusing on professional education. Hartcourt offers a wide range of educational programs, services and products, primary and secondary school education, development and distribution of educational content, software and other technology, and online education. Hartcourt¡¯s achievements and operations can be found on its web site: http://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:
Ms Mary Qi, Tel: + 86 21 51113716 Fax: + 86 21 51113719 Email: ir@hartcourt.com
Disclaimer: This Website provides shareholders and investors with information related to the finance and management of Hartcourt Company here in after referred to as "Hartcourt". This information is offered with no provision of guarantees. Please be aware that the content on this Website is subject to change or deletion without advance notice. Although Hartcourt has taken the greatest possible care in posting information on this Website, Hartcourt assumes no responsibility