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Still like this former PR, maybe things are looking quite boring when you watch HRCT daily trades but imo there is more then enough activity behind the HRCT scenes. We have a strong team and we're operating in the right marketplace with enough business experience to make it happen. Patience isn't always easy. CMF-indicator and others show accumulation for last couple of weeks. C u L8er fellows ED
Former Finance Director of Dell (China) joins Hartcourt
Ms. Carrie Hartwick is appointed President and CFO
Los Angeles, CA, December 2nd, -- /MarketWire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT) (Frankfurt: 900009), www.hartcourt.com , China's fastest growing IT distribution and retail company, today announced that it has appointed Ms Carrie Hartwick as President and Chief Financial Officer as of December 1st, 2003.
Ms Hartwick brings to Hartcourt over 17 years of operating experiences in finance, tax, audit, legal, business operations and information system management. She has spent the last 7 years in China, mastering the internal control system of large US operations in this complex market. Prior to Hartcourt, she served as Finance Director of China for Dell, one of the largest PC/IT companies in the world, managing an annual revenue stream of US$1.3 billion in China, the fastest growing market for Dell. During her distinguished career, she also served as the Finance Director of China for Gillette, and held various positions within Johnson & Johnson including Finance Controller for Johnson & Johnson (Shanghai). Ms Hartwick holds Bachelor of Accounting degree from Rutgers University.
Mr. David Chen will remain as CEO of Hartcourt and assume the additional responsibility as the Interim Chairman of the Board. With the sharing of responsibilities by the new President & CFO, Mr. Chen will now have time to focus his resources on expanding the Hartcourt network of companies by mergers and acquisitions.
Since the recent acquisition of four Chinese companies in the field of IT distribution and retail, Hartcourt has become the fastest growing and one of the largest companies in this sector in China. Under the leadership of Ms Hartwick, Hartcourt will conduct a series of studies on all aspects of its subsidiaries' operations and implement various plans in the area of internal control, finance management, and information systems to improve the overall accountability, return on investment, and operational efficiency and especially, a higher level of corporate governance.
Mr. David Chen, CEO and Interim Chairman of Hartcourt, comments: "We are thrilled to welcome Ms. Carrie Hartwick as the newest member of the Hartcourt team. She will bring invaluable experiences in managing China businesses, especially internal control of operational and financial operations. She will further strengthen our management team and help Hartcourt to streamline and integrate our various subsidiaries to achieve the goal of becoming one of top three IT distribution and retail companies in China".
About Hartcourt
The Hartcourt Companies, Inc. is one of China's fastest growing companies in the IT product 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). 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: Ms. Cathy Kuang Tel: 8621 5213 0673 Fax: 8621 5213 0664
Email: cathy.kuang@hartcourt.com
Buying more. GLTA Ed
bid/ask 0.145-0.147.Wish all of U a great 2005, go HRCT Ed
Got this back from YAHOO FINANCE: Hello,
Thank you for writing to Yahoo! Finance.
Although we cannot offer you an estimate time when the problem you
reported will be resolved, please be assured that we are aware of the
issue and are investigating its cause. Unfortunately, we cannot offer
any further information regarding the issue.
We apologize for any inconvenience, and appreciate your patience and
understanding on this matter.
Thank you again for contacting Yahoo! Customer Care.
Regards,
Holden
Yahoo! Customer Care
For assistance with all Yahoo! services, please visit:
http://help.yahoo.com/
New and Improved Yahoo! Mail - better than ever!
Original Message Follows:
-------------------------
For the third time Yahoo is posting incorrect financial numbers for
HRCT.OB!!!!
What goes?????? Edwin, HRCT shareholder
HEADLINES
. Hartcourt Companies I Financials
Tue 9:00am - EDGAR Online Financials
http://finance.yahoo.com/q/is?s=hrct.ob
It always comes back, this isn't right: 30-sept-04 9,110 and 8,766
Plse correct asap. Any idea why YAHOO is posting this wrong info for the
3th
time.
View: Annual Data / Quarterly Data All numbers in thousands
PERIOD ENDING 30-Sep-04 30-Jun-04 31-Mar-04
Total Revenue 9,110 70,655 67,723
Cost of Revenue 8,766 67,149 64,205
Gross Profit 344 3,507 3,518
Operating Expenses
Research Development - - -
Selling General and Administrative 491 2,636 2,669
Non Recurring - - -
Others 24 42 13
Total Operating Expenses - - -
Operating Income or Loss (171) 828 836
Income from Continuing Operations
Total Other Income/Expenses Net (127) 326 131
Earnings Before Interest And Taxes (334) 643 459
Interest Expense (237) 233 233
Income Before Tax (97) 411 226
Income Tax Expense (91) 355 168
Minority Interest (35) (511) (508)
Net Income From Continuing Ops (5) 55 58
Non-recurring Events
Discontinued Operations 55 - -
Extraordinary Items - - -
Effect Of Accounting Changes - - -
Other Items - - -
Net Income 50 55 58
Preferred Stock And Other Adjustments - - -
Net Income Applicable To Common Shares $50 $55 $58
Add to Portfolio Set Alert Email to a Friend
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----- Original Message -----
From: "Yahoo! Finance" <finance-admin@yahoo-inc.com>
To: "Edwin -- EDP" <edwin@temareizen.be>
Sent: Friday, December 17, 2004 1:52 AM
Subject: Re: HRCT incorrect Q3 numbers on YAHOO FINANCIAL
(KMM25792775V44750L0KM)
> Hello Edwin,
>
> Thank you for writing Yahoo! Finance.
>
> We have submitted this information to our engineer, who will attempt
to
> resolve the issue.
>
> We appreciate your patience in this matter.
>
> We apologize for any inconvenience this may cause.
>
> Thank you again for contacting Yahoo! Customer Care.
>
> Regards,
>
> David
>
> Yahoo! Customer Care
>
> For assistance with all Yahoo! services, please visit:
>
> http://help.yahoo.com/
>
> New and Improved Yahoo! Mail - better than ever!
>
>
Walsh, I mailed YAHOO again to correct these wrong nbr's. I suggest all HRCT shareholders mail to YAHOO FINANCE
finance-admin@yahoo-inc.com
Ask want to get higher..look at level II. Of course, BID also must follow lol, C U l8er Ed
Thanks thinkerman, thinking the same way... we will have our days in the sun. Can wait a little more;) Go HRCT Ed
Merry Christmas everyone! Blessings to all!
http://web.icq.com/shockwave/0,,4845,00.swf
Ed
Hi commoname,my thoughts also...maybe,we should insist that HRCT stays on the otcbb after all roflmoa-lol;p)) My best wishes also to you buddy & every real Hartcourt long 'lurking','chilling out' or even doing its wintersleep on this board, Ed
OT You got that right ho ho ho, Merry X-mass;)Ed
He he he more.. Q&A with SEC Commissioner Paul Atkins
Q1) Why do we only get montly updates on short interest, and why don't we recieve short interest on OTCBB?
A1) Good question, I'm going to look into it. The questions have been asked before but I'm not sure what action, if any, is being taken.
[On a sidenote I hear there is a company which is going to provide daily updates on short interest -LT]
Q2) What future actions is the SEC planning on to control the manipulation by hedge fund managers?
A2) Hedge Funds will be subject to the Investment Advisor Act which is being voted on in the coming week.
[under this act the funds must register with the SEC, which will in turn allow them to advertise, etc to the public]
Q3) What actions do you feel are noteworthy that the SEC is taking to control the fraudulent nature of the OTCBB and pink sheets?
A3) "penny stock rules" [he didn't answer this one very well but was covered more by a later question]
Q4) Does the SEC have a plan to clean up the manipulation of securities occuring on public message boards and if so what is the plan?
A4) Free speech limits our response to this problem. There is an Internet Task Force that monitors the prominent message boards, there have been cases made that have resulted in convictions.
Q5) In your opinion will Regulation SHO absolutely stop naked shorting that, according to the well known Washington columnist Jack Anderson, is funding terrorism and organized crime?
A5) My opinion is that Regulation SHO should stop naked shorting.Reg SHO is going to be phased in over a period of six months beginning with highly traded large cap stocks and work its way down. [Reg SHO was just voted in recently]
Q6) Recently many OTCBB stocks began trading on the Berlin Exchange without their knowledge or consent. While trading on the Berlin Exchange many of these stocks were victims of naked shorting. What is being done to stop this from happening?
A6) I heard about that and was disturbed by it. It is being looked in to.
Q7) Would the SEC have reacted faster and more aggressively to the naked shorting issue if these were large-cap corporations being manipulated to the same extent as the small-cap startup companies?
A7) Good question. That is a common criticism. The SEC was slow to react. Regulation SHO should be fairly comprehensive in stopping naked shorting.
What I have posted as his answers are not his exact words for the most part, I have posted what information I could that I thought was most important.
Mr. Atkins was very generous in the answering of my questions and I appreciate very much the time he took to answer my individual questions offline after the formal meeting was over.
(Credits go to LT Matt)
You're welcome Tin;)Growth prospects for 2005
Last update: December 21, 2004 at 9:26 AM
Developing Economies to Grow in 2005
By VIOREL URMA, AP Business Writer
December 21, 2004 1221AP-YE-WORLD-ECON
Page: 1 2
NEW YORK (AP) - Buffeted by the soaring cost of oil, the world economy is expected to moderate in 2005, led by a slowing of the expansion in industrialized countries. Spurred by China and India, developing countries should enjoy solid growth. Predictions are that Asia will lead the global economic race - though Japan is facing a slowdown - and that the United States will still outrun Europe.
The World Bank sees global economic expansion slowing in 2005 to 3.2 percent from an estimated 4 percent in 2004.
The factors contributing to the slower pace include high and volatile oil prices that have cut into incomes - thus moderating demand in many countries - a decline in investment growth due to higher interest rates, and concerns about the growing U.S. trade deficit.
"The global economy is slowing, but it will likely keep expanding on the basis of a recovery in the U.S. and Chinese economies," Bank of Japan Gov. Toshihiko Fukui said.
The Organization for Economic Cooperation and Development said in November that oil prices have already taken their toll on the major economies, prompting it to cut its growth forecasts for 2005.
Across the OECD's membership of 30 industrialized countries, it expects growth of 2.9 percent next year, down from 3.4 percent forecast in May.
For the 12-nation euro zone, the Paris-based global economic think tank reduced its forecast for economic expansion to 1.9 percent from the 2.4 percent it predicted last spring. The OECD said persistently high oil prices and the rising euro were weighing on European exports to North America and China.
The organization still expected the United States to lead the global recovery, but cut its growth forecast for 2005 to 3.3 percent from 3.7 percent. For Japan, it now forecasts growth of 2.1 percent down from 2.8 percent.
Although oil has fallen from its highs of $55 a barrel in October, the OECD said increased global demand, especially from emerging economies like China, meant oil prices would stay well above 1990s levels for the long term.
The World Bank predicts developing countries will turn in the strongest economic increase since 1974, expanding by 6.1 percent. In the developing world, economic strength is led by China, predicted to achieve growth of 8.8 in 2004, and India with expansion projected at 6.0 percent.
In its "Global Economic Prospects 2005," the bank predicts developing nations would turn in growth rates of 5.4 percent in 2005.
--------------------------------------------------------------------------------
In Asia, China's economic boom is expected to continue to power fast expansion throughout the region, despite efforts by Beijing to slow 9 percent growth to a more sustainable level by cutting public spending and bank lending, and raising key interest rates.
Strong exports and domestic demand in the country of 1.3 billion are boosting trade throughout the region, a trend likely to continue as long as U.S. and European consumers continue to snap up made-in-China products.
Helped by India, East Asia is expected to remain the world's fastest growing region with 7.1 percent growth in 2005, the World Bank projects.
By contrast, Japan's economy appears headed for another slowdown, government data indicate. After more than a decade of stagnation, the world's second largest economy has been witnessing a modest rebound, marking six straight quarters of expansion. But fears have been growing that a decline in exports will push down growth, while a rebound in consumer spending won't be enough to keep the recovery going.
According to the Asian Development Bank, as export increase moderates and the gradual recovery in consumption continues, Japan will settle to growth closed to 1.6-2.0 percent. The World Bank projects a rate of 1.8 percent, down from an estimated 4.3 percent in 2004.
"The recovery in exports and production is slowing, but the mechanism for an economic recovery is still working, and the nation's economy will move toward a sustainable recovery path," Fukui, the Bank of Japan governor, said. More...
Page: 1 2
Pitfalls, however, remain. The declining dollar and high oil prices have sharpened fears of a global slowdown that could sap export growth. Such fears are sharpest in countries like Thailand and South Korea that are seeing domestic demand soften as households cut back after a consumer credit boom.
Many in Asia are watching to see if China will bend to pressure to relax its currency's link to the U.S. dollar, a shift that could trigger similar adjustments by its neighbors. But Beijing is quashing speculation over a higher yuan, arguing that keeping its currency stable is the best way to keep growth on an even keel and insulate its fragile financial markets and banks from speculative shocks.
--------------------------------------------------------------------------------
The U.S. economy is expected to grow about 4 percent in 2004, and economists forecast growth at or above the economy's trend rate of about 3.5 percent in 2005.
"This year it is on track to complete the third year of recovery with a strong 4 percent growth," Treasury Undersecretary John Taylor told business executives during a recent trip to India.
November's weaker employment report was a disappointment, but employment growth has averaged 185,000 monthly since the start of the year, fast enough to take in labor market slack.
While the oil price has boosted day-to-day inflation, core inflation pressures have remained under control. Wanting to make sure inflation doesn't become a danger to the economy, the Federal Reserve has boosted interest rates five times this year, leaving the benchmark rate at 2.25 percent.
"The story of the U.S. economy continues to be one of sustained growth in an environment characterized by recent oil price swings and a falling dollar," said Robert DiClemente, head of U.S. economic analysis at Citigroup.
Taylor, however, expressed concern about the strength of the global economic expansion, saying he worried about high oil prices and a lack of exchange rate flexibility in some countries.
He said the huge current account deficit in the United States, a key factor in the plunge of the dollar, will narrow as the Bush administration pushes policies to cut its budget gap and encourage private savings.
But "these policies should be matched by other countries with policies to raise economic growth and increase exchange rate flexibility," he said.
Washington has long complained that China "artificially" keeps the value of its currency low and thus causes imbalances in the global trading system.
The OECD's chief economist, Jean-Philippe Cotis, warned that the burgeoning U.S. current account deficit - 5.7 percent of the gross domestic product - was a major source of disturbance in the world economy, and called on the Federal Reserve to raise interest rates gradually, encouraging greater saving to rein in the gap.
According to OECD, the U.S. current account deficit - the broadest measure of foreign trade - is estimated to widen from 5.7 percent of GDP in 2004 to 6.2 percent in 2005 and 6.4 percent in 2006 (about $825 billion).
--------------------------------------------------------------------------------
In the 12-country euro zone, after a relatively strong first six months in 2004, growth has slowed sharply. GDP rose by just 0.3 percent in the third quarter, as exports suffered from a strong euro and household spending remained flat.
The European Central Bank cut its projection for economic growth in 2005 to between 1.4 percent to 2.4 percent, from 1.8 percent to 2.8 percent.
The ECB left rates steady at 2 percent at its last meeting in early December, with bank president Jean-Claude Trichet saying Europe's modest recovery remains on track but will slow next year due to high oil prices.
Trichet's remarks on economic expansion toned down the bank's previous optimism.
"The conditions remain in place for economic growth to proceed," he said. "Accordingly, we expect a gradual recovery in euro area activity over the next two years, with somewhat more moderate growth rates due to the impact of oil prices."
Among the conditions for continued growth Trichet mentioned steps by governments to cut budget deficits and restructure labor markets.
The ECB stayed with its forecast that inflation will slow to less than 2 percent in 2005, and most economists predict the bank will wait well into 2005 before raising rates to ward off inflation.
The ECB would not disclose whether it might intervene to support the dollar, which has plunged against the euro - reaching an all-time high of $1.3470 on Dec. 7. The strong euro has raised fears it could stall Europe's economic recovery by making exports more expensive against foreign competition.
--------------------------------------------------------------------------------
Brazil, which has South America's largest economy, is poised for a second straight year of growth in 2005 and hopes to build on its strong exports while benefiting from rising consumer demand among its 182 million citizens.
Economists predict Brazil's economy will grow 3.5 percent in 2005 following estimated growth of 4.7 percent in 2004. But President Luiz Inacio Lula da Silva will be under intense pressure to create the jobs he promised for tens of millions of poor Brazilians in his election campaign two years ago.
Much of Brazil's growth is dependent on exports ranging from soybeans to automobiles, but the weak dollar is showing signs of crimping exports because Brazilian products have become more expensive overseas.
Argentina's economy is expected to expand 5.4 percent following estimated growth of 8 percent in 2004.
But South America's second largest economy faces a big challenge: the country's debt default, declared at the height of the financial turmoil in 2001-2002. It was the largest ever by a sovereign country on record, with payments stopped on some $100 billion in public debt.
Argentine authorities are wrangling with bondholders over repayment, but creditors have resisted offers by President Nestor Kirchner to pay as little as 30 cents on every dollar.
The negotiations are being closely watched on Wall Street and in Europe in what could amount to the largest debt restructuring ever. Argentine officials say they hope to resolve the issue in 2005 with a formal debt exchange, hoping to reopen lines of credit to deepen the economy's expansion.
source: http://www.startribune.com/stories/671/5148371.html
Got this off another Board SEC INFO
OT: On January 5th , 2005 the SEC is implementing a revised Regulation Sho / Affirmative Determination with strict rules for Market Makers to CLOSE OUT all naked short positions on all stocks . Beginning January 10th , 2005 the SEC will DAILY PUBLICIZE ALL stocks where the MM's have not complied , where traded shares have not been accounted for , which will force the MM's to buy shares of the aggrieved company's equity .
Public investors will recognize this MANDATORY REQUIREMENT and will refuse to SELL for give-away prices which will FORCE the MM's to raise their bids .
This will cause SHORT SQUEEZES on the Market Makers because it will be THEY who are forced to pay higher and higher prices in order to be compliant .
As the public becomes fully aware of this enforcement by the SEC , investors will be inclined to hold onto their shares until they can either capitalize on a short squeeze or until a FAIR market of true supply and demand is established for their chosen equity investment .
The Market Makers' reign of MANIPULATION through the illegal action of trading non-existent shares at the extreme consequence to public companies and investors will soon be over ************************************************************
FWIW
The following is from another board,where a person spoke to someone from the SEC in regard to the blatant MM shorting of some OTC stocks,and the proposed regulation SHO that is supposed to start on Jan.3rd,2005
enjoy...
The SEC Market Reformation…
The Securities and Exchange Commission (SEC) really has been on our TEAM all along. For years we thought as investors that we were out there all alone in the market because of years and years of many people being on the losing end from stocks being manipulated.
I received a very important phone call from the SEC that was very powerful. The info is so powerful that I deemed it would be selfish for me to not share such with those in here since our goals have always been to help each other as much as possible. What I am about to share might be known by some, but I am sure that it is not understood by most. This is concerning the true power and intentions behind Regulation Sho. There is more that I have not heard discussed by people and I think there are some things we are not seeing correctly by normally seeing the SEC unsuccessful attempts so often in the past.
What you are about to read are not my opinions. It is what I was told by the SEC and was given permission to share this information with you for a better understanding. I was told that they want our feedback so they will want to know if it worked or not in fixing what they knew was broke for years, but just recently discovered how to resolve.
The pressure is on the Market Makers (MMs) to do what is right because all eyes will be placed on them. There will be many key Federal Authorities, Economists, Mathematicians, etc. that are already lined up to be performing certain studies for historical purposes. All the MMs have to do to not make matters worse is to do what is right and fix what they had broken for years with any fully reporting company that’s a threshold security as soon as possible. Let me explain a bit further to show you how this will work.
First understand that the SEC always wanted to help us shareholders, but never knew how to do so. They had always received many complaints, but never knew how they could trap the MMs to simply do what was right. The shorting and naked shorting had gotten out of hand as I will explain both.
The Naked Shorting
With the implementation of Regulation Sho, the MMs will be forced to close out their open naked short position on all stocks that meet the Regulation Sho requirements for coverage. They will have to do this everyday by midnight beginning on 3 Jan 05.
This leads us to talk about the requirements as some are already familiar. A stock must be fully reporting and considered a threshold security. A threshold security is one where .5% of its outstanding shares (OS) have been proven to have been naked shorted for 5 consecutive trading days and where the MMs have failed to close out those positions for five consecutive trading days.
Example: If stock ABCD had 2,000,000 shares outstanding and was a fully reporting company as of 3 Jan 05, the MMs would need to fail to close out the open naked shorted position of .5% of 2,000,000 shares which would equate to 10,000 shares not being “completely” covered for 5 consecutive trading days. This means that the MMs would need to make sure they don’t allow 5 consecutive days to happen where they leave any balance remaining of the 10,000 naked shorted shares as an open account of stock ABCD. They must “completely” close all open accounts of naked shorted positions.
For proper accountability of all of this to work, the SEC will have to have a coordinated TEAM effort from key entities within the market as authorities. The SEC, Depository Trust Company (DTC), brokerage companies, all market exchanges, the fully reporting companies, and their transfer agents will all be working together to make sure all the proper coordination take place for Regulation Sho to work.
Coordination will take place with the fully reporting company (and their transfer agent if they have one) to make sure there is a full accountability of what’s their OS. The facts will be reflected in the company’s SEC filing which is why it is essential for them to be a fully reporting company.
The DTC will be responsible for informing the SEC where the open sales exist as in the amount of shares existing that have transacted through them that they placed into our brokerage accounts. This was a problem before because many relied on the DTC to give them more than this information to help resolve this issue sooner.
This is where the brokerage companies come in along with the help from the exchanges. The SEC will be further detailing and defining their information of transacted shares from the DTC by having revealed to them the guilty MM that have transacted the naked short position from information received from the brokerage companies and all of the market exchanges. This is proving to be something bigger than what many of us had realized. Let me explain why.
All of this brings us back to something I discussed earlier. When the supply of shares of a stock is zero, the supply is zero. It doesn’t matter how you get there, be it by a naked short position or by the float being absorbed. This is where it all starts as a short squeeze will now be formed and grows as demand to purchase shares increase. This is where the misperception exists with Regulation Sho. People think that a new naked short position has to be created as of 3 Jan 05 in order for a stock to be eligible for protection and rectification under Regulation Sho. This is not true. It’s even better. All naked short positions of the past will not go away and must be dealt with. The clock begins ticking for covering on 3 Jan 05 for fully reporting companies. PERIOD!!! This means that any stock that has been naked shorted will automatically start out in a forced short squeeze mode that will only escalate the longer the MMs wait to cover.
Any buying pressure will cause the increase of the naked shorted position to grow to begin approaching the 5 day consecutive window of not getting covered by the MMs. After the 5 days transpire where the MMs have failed to deliver and close the open naked shorted position, that stock in which they failed to deliver will be placed on a Threshold Security List for the public to view. This is where it starts to get awesome.
Example: Let’s say stock ABCD, a fully reporting company, was trading at .01 cent and had an OS of 1,000,000 shares. Let’s say that stock ABCD have been naked shorted by 1,000,000 shares over the OS/float of 1,000,000 shares. Come 3 Jan 05 the MMs will not be forced to “possibly” immediately cover the 1,000,000 naked shorted shares. Here’s the beauty of this and where the MMs are currently mad at everyone about. Don’t worry, they will make money, but in a different way as we might talk about later.
With no buying pressure, they won’t have to cover as soon as one might have hoped as shares are sold exceeding the amount of shares being bought for stock ABCD. Still, if they don’t cover the “entire” 1,000,000 naked short position for 5 consecutive days, stock ABCD will show up on the Threshold Security List for the public to view on 10 Jan 05. After such, the MMs have 13 days to close out the “entire” naked shorted position or face being suspended and/or shut down from that security and other penalties to possibly put that MM out of business. The end result will still be the supply being zero and the stock would be forced to be traded correctly based on supply and demand with an already dried up supply. This means the creation of an instant short squeeze!
What I anticipate happening, and the SEC, is that in the above example with stock ABCD, the MMs will need to get the 1,000,000 naked shorted shares out of circulation by increasing the bid to entice shareholders to sell. The problem comes when they allow for the buying to outweigh the selling due to increased demand for the stock. As orders are placed to buy shares, they must be filled by the MMs. This will worsen their problem when nobody is selling. As the MMs make the mistake and allow for any stock to be placed on the Threshold Security List, it will publicly reveal where the MMs are already having a problem in covering. Us as shareholders will see this list and contribute with forcing the short squeezes for every stock on the list.
If they raised stock ABCD to .50 cents and there was more buying than selling than no ground would have been gained by the MMs. They only gain ground when there is more selling than buying that exists.
IMPORTANT: So where is the “Threshold Security List” that we all will be looking for? This is how we all get a chance to help the MMs reap what they sowed. Go to…
www.nasdaq.com
… to see the Threshold Security list beginning on 10 Jan 05 and review it daily. Any stock that you see on that list “should” immediately present a wonderful buying opportunity by being in an instant short squeeze scenario. The MM guilty of the naked shorting will have a hard time from not generating enough selling by enticing the bid high enough for shareholders to sell to out weigh the buying to allow for a covering to transpire.
Again, I do not believe that all MMs are bad and I am not posting this to lead some type of crusade against the MMs. Remember, all we ever wanted was for the MMs to trade the stocks we invest into fairly as investor/traders in the market. Without the MMs, there would not be a market and all the SEC is doing is making sure the MMs create and maintain an orderly market, fairly. This Regulation Sho is something that is long over due.
The Shorting
The shorting of stocks are referring to the Pilot Program that was delayed to begin on 2 May 05 and will last for one year through 2 May 06. This is where they will be selecting 1,000 stocks to use for an SEC experiment that they call the “Tick Test.”
Example: Imagine stock ABCD trading at $10.00 per share. Let’s say you now decide to short stock ABCD at $10.00 per share by buying through shorting 1,000 shares. You really just borrowed $10,000 to short stock ABCD to buy 1,000 shares. Two days later, let’s say stock ABCD drops to trade at $8.00 per share. You now decide to cover your short in stock ABCD and sell your 1,000 shares back to the market to have them delivered at $8.00 per share for a total of $8,000. You cover by paying back the 1,000 shares you borrowed, but since the price dropped down to $8.00 per share, your cost for paying back the 1,000 shares of stock ABCD will be $8,000. Since it’s mostly all about the share amount and not the dollar amount for covering in the eyes of the MM, you would profit the $2,000 difference from using the proper timing for delivery of the 1,000 shares.
The SEC will be doing a study on 1,000 stocks while examining these stocks to see how and why certain problems have existed throughout the market with the delivery of the shorted positions. What they have come to find out is that there is a problem that exists with somebody shorting a stock as reflected above and never delivering the funds to cover the shorted position whether the stock goes up or down. They have come to find out that somewhere and somehow the intentions to later deliver never existed. The Pilot program is being designed to get to the bottom of this.
The opportunity that we have here with the rectification of the naked shorting and shorting of stocks is something that will go down in history for the better in fixing something that was broke for a long time. The primary objective is to have an orderly and fair market for those stocks that are legitimate and trying to actually grow to trade fairly on its own merit of supply and demand principles and not on manipulation of choice.
Bottom line, any stock falling under the protection umbrella of Regulation Sho will automatically begin trading under a short squeeze scenario due to its supply of shares immediately being zero. How huge the short squeeze materializes is predicated upon how soon or how long the MM that is guilty of naked shorting decides to take for covering. Whenever the “demand for buying” exceeds the “demand for selling” within that naked shorted security, the MM will have a very difficult time in covering by the mandated time frames allocated. Added buying pressure will only compound the dilemma for the MM.
I am expecting Jan 05 to be the best month in the history of the market for opportunities for prosperity because of Regulation Sho. We are about to be part of a positive piece of history. I hope the above info have helped many to see what is the importance of making sure you are positioned and well planned for strategic moves to be made in the market to capture the opportunity for prosperity. We all must prepare and plan now if we can afford to do so. People don’t plan on failing, they fail to plan. May we all become prosperous!
I will! Want to own some 150K HRCT's. Right now, I have 67,5K
Thanks brdsng, nice summary. Holding tight in the meantime E
Nice try MMS with 4000 shares from 0.17-0.175 to 0.155-0.16
68_shovel,you're in a funny mood,lolroflmoa back later E
Q:68_shovel,according to your TA, where do you think HRCT has its support and resistance levels for the short term? Tia Ed
Thanks for your comments Investorman, appreciate them:) We all have our own 'subjective' approaches, some good luck and slogans lol;p) Peace, greets from Europe and GLTY, best wishes for 2005, Ed
Investorman, Hartcourt actually is headquartered in SHANGHAI!
You write: "they just disconnected the phone in Furutani's office", lol;) Imo you see it little bit too bearish.
Secondly, when he says 'market is wrong', it's plain and simple WRONG.... Imo he's in the best position to know this b/c he's much more familiar with HRCT business plan and strategy 4 the long run.We only see/judge it from the outside. Plenty of interpretations possible depending from the corner you look at it. Besides the dd we have from the filings, time will tell the real outcome for this stock and imo it's up from here.
About Hartcourt
The Hartcourt Companies, Inc. is an IT retailer, distributor and service provider in the People's Republic of China (PRC). Hartcourt is headquartered in Shanghai.
The business is comprised of two divisions: Commercial and Consumer. The Commercial Division services small- and medium-sized enterprises (SMEs), government agencies and a network of distributors with a wide range of IBM products including server, storage, notebook and desktop computer. As the Company moves deeper into the SME space, it plans to expand into lucrative and fast-growing market segments such as videoconferencing, customer relationship management (CRM), and application service provider (ASP).
The Consumer Division operates 22 retail stores located in Shanghai and Beijing serving China's largest PC markets with customized, store-assembled desktop computers, branded notebooks, computer peripherals and accessories. The Company also has exclusive distribution rights to Samsung monitors and notebooks in Shanghai and Zhejiang provinces.
Well Investorman, imo you're waiting for some extra cheap shares looking at your way of interpretation... no problem with that. Do your own DD. I'm accumulating as well b/c I like HRCT's fundamentals, market, team, products and outlook. So far, 2004 has been good again for me with AMHI.OB, XING, GOOG, SHRN.OB,JNPR, LNUX... HRCT is my next target for plenty of good reasons. Buy low, sell high, diversify and don't fall in love with a particular stock. TA says HRCT is a hold/buy here (D-curve + stoch/MACD/CMF). GLTY Ed
brdsng, can give you numerous other otcbb's with lower performances, less revenues or even 'negative' operational income and almost no real products or services which are trading/valued at much higher prices per share then our silent HRCT. Makes no sense too me. A little bit more exposure about HRCT potential would be very welcome. Hope HRCT/IR will communicate more in 2005. Growth potential for HRCT is far greater then most of these American otcbb companies. Hartcourt is operating in the middle of the biggest market in history. Got plenty of time and patience as we ain't seen nothing yet. C U back at 0.60$ ED
Good 2C Yahoo Financial removed 'Income Statement'.
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Just keep in mind this stock is way undervalued, trading at a 52 w low. Nice occasion to acculate imo. E
I'm quite confident we gonna soar one of these days to 0.20-0.25$. Wait and enjoy, might be a nice end of the year. Ed
The short message from Mr.Friedman is clear too me.
"...it is certainly true that the market tends to interpret the absence of news as unfavorable. We are hopeful that in 2005 there will be some positive developments.
"
Two things:
1.tends to interpret absence of news as unfavorable
he says: market is wrong, read between the lines, no reason to interpret the silence as negative
So far, HRCT isn't even 100% silent, looking at the latest PRs
It's just the best option at the moment to communicate in a diplomatic way. Imo it's a good sign for all stakeholders and clever behavior of management. We all know why! Silence is gold.
2.we are hopeful there'll be positive developments
2005 is a new start for this growing company, hiring new managers and moving their HQ to Shanghai.. Think twice, it's all in HRCT's advantage & will move also the pps for all of us real soon again in the 0.20-0.40$+++ Patience rules.
GLTY Ed
You're welcome Tin, I'll be back later, love the new Pr...smart move from HRCT management...good days ahead, they are building a strong team. Patience will prevail, GLTY buddy Ed
Huatai Securities not only focus on development of securities e-commerce in China, but also pay more attention to study of this area. In Jul 2001, Huatai projected and cosponsored CHINA E- SECURITIES SEMINAR with SIITA, President Zhou attended the seminar and made a important speech in which president affirmed the contribution of Huatai Securities in e-securities area. Huatai Securities undertook one of important studies of CSRC ------ establishment and supervision of e-securities company, the dissertation of this study got the first class award of SAC annual appraise of research in 2001.
For several years, under conducting from Chinese Securities Regulatory Commission (CSRC), Hautai's e-securities has gained dramatic performance with support of social circles and mass investors. Huatai Securities has taken the lead in trial online handling securities in 1998, and grew up continuously. Online trade volume occupied 5% of trade volume of the whole company in 1999. In 2000, online trade volume was RMB 21.24 billion, taking 12.5% of trade volume of the whole company (the ratio of the industry was about 2.97%), about 20% of online trade volume of the whole industry, the number of online trade account reached 150 thousand. In 2001, online trade volume was RMB 32.62 billion increasing 53.86% from last year, taking 23.08% of trade volume of the whole company (the ratio of the industry was about 4.38%), about 9.11% of online trade volume of the whole industry, the number of online trade account reached 241.8 thousand surging 61.2% from last year. That was the third successive year that Huatai got the top position of online trade volume billboard in China. In 2002, the number of online trade account reached 280 thousand, online trade volume reached RMB 31.42 billion, occupied 30.76% of trade volume of the whole company.
For supporting development of e-securities and providing first class information services to mass investors, Huaitai website was launched in Dec 1999. With effort for several years, mass investors accept Huatai website that gets more prestige time to time. In Oct 2000, Huatai website made the first time of taking new edition that contained many columns investors favored strongly. In Jul 2002, the website took a new edition again, meanwhile offered professional edition and web edition of online trading system. Currently, registrant on Huatai website reach 300 thousand, the click times of Huatai website home page are about 120 thousand per day, the whole click times of the website are 6~8 million per day, online experts have to answer more than 600 questions every day. Stock comment, realtime express, online experts, college of investors, and Huatai e-friend have become brand columns and unique services favored by investors. Huatai website got the honor to win the No.1 in competition to choose "Excellent Securities Websites in China" favored by shareholders (netizens) through public appraisal sponsored by Securities Times in 2000, 2001 & 2002. And gained the No. 1 of "the best investment consulting website" in 2001, and the awards of "the best securities website CEO" and "the best marketing achievement" in 2002.
Granted by People's Bank of China, Huatai Securities Co., Ltd. (Huatai) was established on Dec 30, 1990, and formally operated for business on May 26 in Nanjing. Huatai is one of the first batch of comprehensive securities firms approved by China Securities Regulatory Commission (CSRC).
Over more than decade, we always persist in taking our core values "Efficiency, Honesty, Steadiness, Innovation", hereby have enjoyed increasing scale of company. Up to April 2002, registration capital of the company reached RMB2.2 billion (about US$265 million). Our net asset reached RMB3238 million (about US$390 million) and total asset was RMB13.55 billion (about US$1.63 billion). On another hand, the quality of asset is always in perfect situation. In 2001, Dept. of Intermediary Supervision of CSRC released a list of securities firms that have not peculated deposits of customers and have enough net capital. Huatai was one of those firms, and was approved as a member of national interbank bond market in 2002.
Huatai has strict management, prudential and standardized operation, then our business have gained rapid development. Many business-indexes were in leading group in the industry in successive years such as stock trade volume, net asset return, etc. And online trade volume won champion in three successive years. Huatai website always has good reputation among industry and customers. Huatai website won the No.1 in the competition of "investors' favorite excellent securities website in China" sponsored by Securities Times in 2000, 2001, and 2002. At same time, Huatai gained the title of "the best investment consulting website" in 2001, and the awards of "the best securities website CEO" and "the best marketing achievement" in 2002. In 2002, Huatai still achieved good performance in a bearish market background. According report of 21st Century Business Herald, on the billboard of securities firms ranking along stock and fund trade volume in 2002, Huatai occupied the third position. The investment banking business gained rapid development in 2002 too. Huatai finished 6 deals as leading underwriter, financing volume exceeded RMB2 billion. The number of deals as leading underwriter ranked No. 3 in the industry; the number of IPO ranked No. 2; the volume of IPO as leading underwriter ranked No.8; the volume of ration as leading underwriter ranked No.4. Huatai acted as financial consultant in the deal of asset exchange of HuBeiXingHua (600886). The deal has significant influence in the industry because it is the first case relating to material restructure of listing company under supervision of authority just after relevant rule promulgated.
At present, Huatai has three headquarters in Beijing, Shanghai and Shenzhen, and 34 brokerage branches in large and medium cities in China with 15 service sites. Huatai established two investment-banking sub-headquarters in Nanjing and Shanghai, several investment-banking offices in Beijing, Shenzheng, Shengyang and Chengdu.
Experienced turbulence and development of stock market in China, Huatai has accumulated rich experience in terms of deploitation, innovation, standardization and self-discipline, optimized mechanism of internal control and risk defense, and trained a competitive team. Huatai has more than 1000 employees of which 80% have passed qualification examination that is leading in the industry. 51% of Huatai employees has bachelor degree and above.
Coming into new century, Chinese securities market comes into a new era, Huatai also start a new canto. Facing new internal and external situation, Huatai has strong creative idea, set "the second establishment of business" goal in time. Huatai will keep enterprising deploitation, enforcing international cooperation, and enhancing core strength and sustainable development capacity, in order to make more contribution to prosperity of securities market and sustainable, healthy development of economy.
Curbs on economy working, says China
September 20, 2004
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China's efforts to slow the economy by reining in investment in industries such as steel and cement were working, Vice-Premier Huang Ju said, suggesting further tightening measures such as an interest rate increase may be unnecessary.
"The measures have initially paid off and eased the pronounced contradictions in the economy," Mr Huang said in a speech to a conference in Beijing. Consumer price inflation, which held at a seven-year high in August, was "still relatively stable," central bank governor Zhou Xiaochuan said at the same forum.
China has clamped down on lending and project approvals to cool an industrial investment boom that the government blames for causing power shortages, clogging transport links and driving up raw materials prices.
The government might not need to raise interest rates to slow the economy because the loan curbs were starting to bite, ABN Amro Asia said last week.
Mr Zhou said this month that policymakers will decide whether to raise rates after reviewing August's economic reports.
Investment in China's factories, roads and other fixed assets grew 26 per cent in August, slowing from a 31.1 per cent pace for the first seven months of the year, the government said last week.
Other economic data has been mixed. Consumer price inflation remained at 5.3 per cent in August, while industrial production, exports and imports all picked up last month.
Mr Huang's comments echo those of other government leaders. Vice-Premier Zeng Peiyan said last year that the macro-controls had been effective, though the results are "initial" and the campaign can not be relaxed.
China has relied on lending curbs rather than rates to slow growth in the world's seventh-largest economy. The central bank has kept its one-year lending rate at 5.31 per cent since February 2002. The rate was last raised in 1995.
China's economy is still growing at a "steady and fast" pace and should continue to expand at an annual 7 per cent rate for the next few years, Mr Huang said.
Growth was 9.6 per cent in the second quarter, from 9.8 per cent in the first three months.
Building a base around 0.16-0.165-0.168. Imo takes one or two days to settle little bit in order to move higher towards 0.20-0.22$. MACD is confirming the trend, same counts for the ADX indicator....See you E
68_shovel, how do you mean, "lost brdsng"? Thanks for yr comments and all the best, ED
Interview with God: click on view presentation...
http://www.theinterviewwithgod.com/
Hi brdsng, I mean this short term gap (in yellow indicated)+ looking at the CMF, you can see plenty of accumulation last week, speaking about very big blocks...
http://stockcharts.com/def/servlet/SC.web?c=HRCT,uu[h,a]dacayiay[dc][pd20,2][vc60][iUb14!Uc20]&p...
holding is the message imo. Ain't seen nothing yet, somewhere around 0.22$ we will have the real turning point in the coming days or weeks. Good luck 2U & other longs, ED
1moodyblue, agree with you! Thanks for yr former post, like it.
Posted by: 1moodyblue
In reply to: None Date:12/17/2004 11:11:46 AM
Post #of 59738
!!! And I think HRCT'ers just got their Christmas Gift. Either way if it's settled or dismissed it's a GOOD thing for all.
Date Filed # Docket Text
12/13/2004 PLACED IN FILE - NOT USED re Proposed Order granting summary judgment. Lodged 10/15/2004. (jp, ) (Entered: 12/15/2004)
MMs are trying to push it lower on tiny volume. Filling the gap??? Silly behavior. Holding tight & looking forward to hear something from management soon. Last week almost 8 times more buyers (800K) then sellers today (100K), ... holding with confidence & accumulating, E
BettyAnn.."God is our refuge and our Strength, a very present help in time of trouble; therefore will I not fear.. though the waters rage, and the winds blow, and the earth moves, God is our Perfect Refuge." May you find the peace so richly deserved! May you pitch your tent next to the Waters of Peace, and there abide forever. May your soul not langish in thoughts of us behind, for we, too, in time will come to that wonderful Meadow of Peace, where you abide. Till we all meet again in our Father's House, know that we will miss you! We will miss you. Bless you, Ed
Think twice!!Keep your fingers crossed boys and girls Ruling is eminent.
12/13/2004 135 MINUTES before Judge Lourdes G. Baird: 1) Plaintiff MOTION for Partial Summary Judgment against defendants [100] (filed 10/29/2004); and 2) Defendant MOTION for Summary Judgment or Partial Summary Judgment [88]. Hearing held and counsel are present. The Court confers with Counsel and counsel argue. The Court rules on the motions as follows: Taken UNDER SUBMISSION as to the above motions. The Court shall prepare and issue a final order. Tentative Order provided. Court Reporter: Deborah Gackle. (jp, )...