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Blah.... Blah.... Blah....
That pretty much sums it up.
I am watching the President while sitting here. He has just finished so I guess now the talking heads will tell us what we just heard.
This is the livliest that IHub has ever been. There may be hope yet for it.
I told that to you in confidence!!!
How about UNEX? (Unrealistic Expectations)
Well..... A leak has to come from somewhere - lol.
Do you mean that MBR already leaked it to the rest of you? It really is hard to keep a secret anymore......
Ok MBR - Just so you get to hear it before everyone else.....
No dividend shares - HRCT will keep the spinoffs as subsidiaries of HRCT.
Actually, no one told me this but I would be willing to put money on it. You can blame it on me if I am wrong.
Haijek - Even if some sort of news is imminent, it is detrimental to HRCT for you to announce it whether or not the information is factual. One of the long standing problems with HRCT has been the "leaking" of information that should properly wait for a shareholders letter or PR from the company. If your information is incorrect it has a tendency to reduce shareholders confidence; if it is correct it lessens the impact of the actual news release.
So far, so good. ETLK is up 33% from Friday's close and has a market cap of over $20 million. We'll have to give it a week or so to see how it settles out.
There is a barrier at $0.30?
You are getting pretty good with the add ons. I like the skating Santa. ho ho ho
What is with the spam on the HRCT board?
joespringer - I feel your pain - lol.
You make some valid points and I can't give you anything you aren't already aware of to help your outlook. A couple of points though....
Dr. Phan gave back 5 million shares - not 1 million.
Can't say what impact Dr. Ching might have.... he doesn't start until January 2nd.
The split was ill advised but we have it. If HRCT were to do a reverse merger with a NASDAQ or AMEX listed company then maybe a reverse split could be done in conjuction with that type of merger that would be acceptable to investors. Other than that reverse splits are usually negative.
GX sold part of their company for $300 million not $100 million. It was a much larger company than ET.
Enova owns a portion of SRUN which ET is being merged into - therefore Enova shareholders will end up with an interest in SRUN aka Elephant Talk.
Dr. Phan is not leaving.... he is turning over the day to day management of the company to Dr. Ching but is remaining as Chairman of the Board.
Have some egg nog and don't worry about HRCT until next year.
A lot of shareholders didn't bother to submit their proxies since the result was a forgone conclusion.
jedigit - Things have been moving as far as the R/Ms are concerned. GTCI just had the shareholder vote to approce the RM. Unfortunately the regulations on some of these things (required notice for special votes, etc.) tend to drag things out but that is the nature of the beast.
The bulk of the revenues are in Elephant Talk and Sinobull which are the two divisions involved in the RMs. Significant e-learning revenues are a ways down the road. This isn't like a large company spinning off one division where it only constitutes a smaller portion of total revenues. With these HRCT subsidiaries you are talking about almost all of HRCTs revenues at the moment.
jedigit - I also hope that Dr. Ching is able to use his connections and experience to widen HRCT's shareholder base. "Colorful history" is an apt description for the last few years at HRCT - lol.
From everything I can see, it would appear that the RMs are moving along. I disagree that spinning off the shares of the subsidiaries would benefit HRCT shareholders and have made that point to HRCT management. I don't know if that will happen at some point in the future or not but if they are spun off you can expect HRCT's stock price to crash immediately thereafter. We would benefit much more if HRCT holds those shares and keeps the companies as majority owned subsidiaries.
Gustav - There is not much I can say that will provide you with any information that you are not already aware of. I am not one of those that thinks boogeymen in the closet are responsible for HRCT's current share price. Funincolo provided a pretty accurate evaluation the other day.
I don't look at many of the things that haven't occurred as broken promises (NASDAQ, etc.) HRCT has tried for several goals that didn't work out for a variety of reasons, some beyond their control. HRCT has also succeeded in completing many projects over the past two years. Getting off the OTC isn't easy for a small company but HRCT is still proceeding with available options. No point in mentioning them until the hurdles have been overcome.
The share price is what it is...... A variety of factors are in play here. Limited exposure and being listed on the OTC are the main problems. Just having PRs announcing new projects isn't going to fix things on a long term basis. What will help is positive earnings and HRCT is getting very close to reporting a profit. That should have a bigger impact than anything else. As much as I like Dr. Phan, he would be the first to tell you that his skills are more concentrated on putting together his vision of what HRCT should be rather than on the day to day operations of a company. Dr. Ching should bring these operating skills to the management of HRCT. It will take a bit of time to see the results of Dr. Ching's management. Dr. Phan is not leaving and will continue to lend his knowledge of China and his associations to the benefit of HRCT. The best "huge news" that we can receive is that HRCT is making a profit.
It was discussed sometime back when someone ran across the other Enova Systems. Ours is not publicly traded unless you consider SRUN to be the vehicle. ENVA has a web site that details what they have been doing the past several years.
That is a different Enova. Nothing to do with HRCT's spin off company.
I think you will see a 1:10 split then shares will be added for the ET owners. It should end up somewhere around 30 million shares outstanding with a float of 1.5 to 2 million. Valuation will be the key but telecoms have been doing better lately and ET has pretty good revenues and it is expected to go into the black in a few quarters from what has been announced previously. It could easily end up above a $1 a share. This is just the first part so we will have to see how things develop.
The reverse stock split will be done in conjunction with the effective date of the merger. The new combined company will begin trading with the lower number of shares outstanding.
berrygood - It will not matter if Enova shareholders are added before or after the reverse split. Enova currently holds the SRUN shares so they will be subject to the reverse split in any case.
No information on the ratio of the reverse split has been mentioned to my knowledge. It will most certainly be 1:10 or greater.
I don't know about E-trade but back when I posted it I got it off the wire at MSN Money Central.
Mark - Enova shares are still Enova shares. Enova holds SRUN shares as an asset and most likely those SRUN shares will be distributed to Enova shareholders and Enova will then be liquidated. These SRUN shares are currently held by Enova so they will be subject to any reverse split that is done. The ratio of SRUN shares distributed for each Enova share depends on the number of SRUN shares held and the total number of outstanding Enova shares. The value of Enova shares aren't diluted since they are worth whatever the value of the SRUN shares happens to be. SRUN shares don't currently show up in your account because they are held by Enova and have not been distributed to Enova shareholders.
boatgirl - Ahhh, I see. Those that have been around a long time will also have Enova/SRUN/ET shares - lol.
No. The SRUN shares you hold will become ET/SRUN shares and when HRCT dividends the ET/SRUN shares you will get more of the same thing. The SRUN shares you hold now will probably be subject to a reverse split and will not amount to a very large percentage.
Hartcourt's Subsidiary, ElephantTalk, to Merge With Staruni
September 25, 2001 1:00:00 PM ET
LOS ANGELES, Calif., Sept. 25 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced that it will publicly divest its ElephantTalk (ET) subsidiary in a merger with Staruni Corp. (OTC Bulletin Board: SRUN). The reverse merger will allow ElephantTalk to actively trade on the equity markets and unlock its value for Hartcourt investors. In addition, ElephantTalk will now have its own access to the capital markets to raise the necessary capital to expand its businesses.
Mr. Russelle Choi, CEO of ET, comments, "We are excited and proud to be entering the US public market and we are planning to apply for listings on the Frankfurt and Hong Kong markets as well. We look forward to rewarding our shareholders with a well-managed, growing, profitable business that is poised to take advantage of the coming opportunities in Greater China. We are already moving forward with plans to add substantial revenues over the next few quarters and expand operations. ET has just begun recording revenues on two new international markets which should substantially impact our top line. ET has also reduced operating margins through a re-negotiation of our major lease line expenses. We have also unveiled our new website today at www.elephanttalk.com. These are just the first steps in our strategy to develop ET into a world class telecommunications organization in Asia and the US."
Hartcourt plans to continue its divestiture strategy with SinoBull and AI-Asia and is on schedule to have these subsidiaries enter the public markets during Q4. The education division will stay within Hartcourt. In 2002, Hartcourt shareholders will have major equity stakes in four operating companies trading on multiple world exchanges.
Dr. Alan Phan, Chairman of Hartcourt, said, "Today Hartcourt has achieved the first step in fulfilling its promise to maximize the value of its assets for investors. The spin off of ElephantTalk is the first in the process of monetizing Hartcourt's assets through public divestitures. We expect the capitalization of ElephantTalk to validate our investment in ET and set the stage for the public listings of SinoBull and AI-Asia. Further details of the merger, including equity distributions via dividend shares, will be forthcoming."
About Hartcourt
The Hartcourt Companies is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt's operative business strategy is designed to facilitate a series of venture divestitures via IPO or public merger to fully realize the value of these assets for its investors. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com.
About ElephantTalk
Based in Hong Kong, ElephantTalk is one of the leading international long-distance service providers to Hong Kong and portions of China. Established in 1995, it holds a number of licenses including US FCC 214, HK ETS and ISP PNETS allowing it to provide voice, data transmission like IDD, pre-paid calling card and ISP services. Its customers include major telecom carriers based in the U.S. and Hong Kong. Additional information regarding ElephantTalk can be found at www.elephanttalk.com.
About Staruni
Staruni Corp. is an Internet service provider. The Company provides a wide array of Internet services tailored to meet the needs of individual and business customers, including customers with little or no online experience. The Company does business mainly in southern California. Its primary service offering for individual customers is dial-up Internet access and value-added services.
Forward-looking statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, but not limited to, factors detailed in Hartcourt's filings with the Securities and Exchange Commission including recent filings of Forms 10-K and 10-Q. The forward-looking statements should be considered in light of these risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Hartcourt undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by Hartcourt or any other person that the events or circumstances described in such statement are material.
For further information, please contact Mr. Manu Ohri of The Hartcourt Companies, Inc., +1-310-410-7290, ext 207.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X55648518
© 2001 PRNewswire
SRUN is just a VEHICLE for ET to go public as opposed to file for a listing (save time and money)
This allows ET to:
1. Establish a market value/market cap
2. Allows ET to finance aqusitions/growth through equity financing and/or debt financing
Effect on HRCT...
1. Values HRCT equity interest in ET (HRCT's ET shares X market price) ... and therefore the intrinsic value of HRCT as an investment
2. Takes the strain off HRCT of ET acquisitions and cash flow needs...
3. If/when the market value of HRCT interest/shares in ET exceeds HRCT's purchase price/cost (4.1 million) then the intangible portion for ET on HRCT balance sheet becomes a tangible asset (investment)... improving fundamentals
4. Allows HRCT to dividend and/or sell ET shares (to raise cash) as needed in the future...
5. Events will eventually force the shorts to cover...
With SRUN shares. SRUN will also acquire the remaining 49% of ET from the private shareholders resulting in SRUN being ET. That is what this deal is all about. SRUN's market cap will rise to reflect the value of ET.
It is at www.hartcourt.com where it has always been. I just logged in so I know it is up and working.
The protesters did what they thought was right at the time. I didn't agree with their actions at the time and I still don't. I believe that the war lasted longer than it had to due to their activities. I had to go to Southeast Asia even though I didn't think we should have been there in the first place... for those who didn't have to go it was easy to take pot shots and help give the North Vietnamese support. (Hanoi Jane was in another catagory altogether - someone should have dropped a bomb on her) If Steven Stills dumped on McCain at this point then he needs to sit down and evaluate himself as a person. Right or wrong, McCain paid about as high a price as it is possible to pay.
The current situation isn't in any way comparable to Viet Nam. More than 5000 of our fellow citizens are dead from a war they didn't even know was going on.
I just finished emailing ABC regarding that subject. I indicated that it is unacceptable to me for them to support their employees advocating terrorism and murder. I also emailed the sponsors of the program regarding the subject in addition to emailing DIS about the matter.
I would defend any citizen in this country who wished to excerise his "freedom of speech" rights but I don't think I should have to pay via advertisers to have my country insulted. Maybe Bill Mahar can get a job in Afghanistan where his views would be appreciated.
Web woes return to China with "Code Blue" worm
September 07, 2001 01:34:00 AM ET
BEIJING, Sept 7 (Reuters) - A new Internet worm has emerged in China akin to the "Code Red" worm, which caused $2.4 billion in estimated cleanup costs on Internet-linked computers last month, a computer security expert said on Friday.
The "Code Blue" worm has similarities with the Code Red worm, which caused widespread problems, said a worker at the police-run Computer Virus Treatment Center in Tianjin, about 100 km (54 miles) from Beijing.
"We've already gotten hold of the virus and we're analysing it," said the worker, who declined to be named.
He said his office had no estimate of how many computers or servers had been infected with the new worm.
In the United States, the first Code Red worm infected more than 250,000 systems in just nine hours on July 19, shortly after it was first reported, according to the National Infrastructure Protection Center at FBI headquarters.
In August, a second version of the worm emerged, preying on computers and servers linked to the Internet running a version of Microsoft Corp (MSFT) software called Internet Information Server (IIS).
The Code Red II infected thousands of computers worldwide and prompted China's Ministry of Public Security to issue a public warning.
ORIGIN STILL UNKOWN
But the Code Red II worm faded away as people downloaded free patches from the Microsoft Web site which plugged the hole the worm used to enter computers.
According to the Ministry of Public Security, Code Red II struck more than 1,000 servers in China by August 22 in more than 20 provinces and cities.
But experts believe the real figure is much higher.
The worker at the centre in Tianjin said the Code Blue worm infects computers exploits a different weakness in the software from the Code Red viruses.
The Code Blue worm, which is the work of a mischievous computer expert, slows infected computers, which eventually crash, the official Xinhua news agency said.
Last month, a nonpartisan investigative arm of the U.S. Congress, the General Accounting Office, said in written testimony that the Code Red virus was believed to have started at a university in Guangdong, China.
Asked about the congressional report, Navy Captain Robert West of the Joint Task Force for Network Operations, responsible for defending the U.S. military's information infrastructure, said the Defence Department was "not ready to attribute the Code Red worm to any specific actor at this point".
A spokeswoman for the FBI-led infrastructure protection center, Debbie Weireman, said the Code Red worm and successors known as Code Red II and SirCam were still under investigation. REUTERS
© 2001 Reuters
If you want personal news..... I am going to go take a nap for a while.
Insider buying falls to eight-year low
Nick Olivari, Reuters
NEW YORK, Aug. 27 - Buying of shares by company executives in their own companies has dropped to the lowest level in almost eight years, according to Lancer Analytics.
“INSIDER SENTIMENT REVERTED back to bearish territory in July after being relatively neutral in June, said Lon Gerber, director of research at Scottsdale, Arizona-based Lancer, a division of Thomson Financial, which tracks insider buying and selling as reported to regulators.
“This change was driven by a dramatic decline in buying activity, to its lowest level since August 1993.”
Insider buying, measured by the dollar value of shares bought, declined to $77.9 million in July, or 50 percent, from $154.7 million in June.
The drop continued the declining trend in share purchases by corporate executives, Gerber said. For the first half of the year, monthly volume of insider purchasing has ranged from $150 million to $180 million, consistently well below its five-year monthly average of $322.1 million, he said.
“It’s a clear indication that executives are seeing the world in the same way as the general public,” said Scotty George, chief investment strategist at Corinthian Partners Asset Management LLC. Both “insiders and the public see the economy in for a protracted period of rest.”
Investors view the aggregate level of buying by insiders --who have the best access to information on their companies’ prospects -- as an indicator of market sentiment. Insiders presumably buy shares when they consider them a bargain relative to their companies’ future business.
Insider selling, measured by the dollar value of shares sold, in July totaled $2.2 billion, the lowest monthly sales volume since October 1998. It was also below the five-year monthly average of $3.5 billion.
“We normally do see a substantial drop in the dollar volume of selling in June and July as insiders are typically restricted from selling near their second-quarter earnings announcements,” Gerber said.
The dollar value sell/buy ratio, a measure of sentiment according to Gerber, almost doubled to a bearish $28.19 in July from $15.29 in June, Gerber said. The ratio’s historic five-year monthly average is $12.85.
I wasn't trying for an innuendo... I was just pointing out another option. If it was under consideration as being viable I'm sure PCW wouldn't be a potential candidate.
I wouldn't put in any money into CMGI if that is what you mean. CMGI is still too big to be an option for HRCT. As far as spin offs go, the only options are HK and OTC companies.
There are other ways to get off the OTC.... such as a reverse merger with a company listed on a major exchange that isn't doing so well these days.
Now that Denis has posted on RB the question has been answered.... Friday.