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EZ..looks like Sinobull will have T.V..Internet..Printed page
I think that just about covers it all..
DC100
Some times i ask my self..
" self, how many avg shareholders are here posting on RB that are not paid to pump or bash HRCT"
We as avg shareholders are the real loosers here.I sure hope we get good news with the news about ratio next week or it might be all over as we know it..
jmho..
DC100
better to buy HRCT or shares of 2 new company's?
DC100
When will we hear something about information on rev mergers? at that time will we know how many shares we get of new companys? will they start trading on the otc soon?
DC100
moody..you might not be far from the truth..A friend at work knows some one from over there and the avg age is about 40yrs old.Why you ask?? because they celebrate and shoot there guns in the air..The bullets come back down and hit them in the head..Might not be all true but makes for a good story..lol
DC100
will we get free shares of ET when it hit OTC?
September 26, 2001 from Alan Phan
Dear Shareholders:
It has been a Hartcourt tradition to provide our
shareholders frequent updates. In these uncertain
times it is important for you to know that the
Hartcourt Companies are continuing to execute their
business plans as promised.
It has been a very difficult year in the tech sector
and the recent terrorist attacks have magnified the
impact of the economic slowdown, creating additional
turbulence in the markets. This combination of events
has had an adverse effect on our share price, as it
has for thousands of other companies. However, in
addition to the growing achievement of our
organization, many positive factors are taking shape
in the markets, in the global economy and in China,
which should provide substantial stimulus to our
efforts as Hartcourt continues to march forward on its
mission.
THE ENVIRONMENTAL FACTORS
The Fed has lowered the interest rates for an eighth
time and there is anticipation of another cut in
October. This will not only make capital spending more
attractive, but will also create incentive for the
huge cash reserves currently on the sidelines to move
into the equity markets. The finalization of China¡¯s
WTO entry will open the enormous consumer and business
markets of China and open the doors to a broad range
of opportunities for Hartcourt. There will be
increased cooperation between our businesses and many
U.S. and Asian corporations that have been waiting for
this event. The WTO should favorably impact all of our
operating entities; as telecommunications, financial
services, internet technology, and E-education are all
sectors expected to benefit and Hartcourt divisions
are well positioned in these sectors. In addition; the
economic downturn has made available many valuable
assets from distressed companies, it is much easier to
find highly qualified IT personnel, and upward
pressure on wage and infrastructure expenses has
abated. Finally, our structure and direct chain of
command allows our companies to respond rapidly to
changing market conditions to pursue market share and
new business opportunities.
TAKING OUR COMPANIES PUBLIC
This week we initiated the listing of our first
spin-off, ElephantTalk, on the US markets. This is the
completion of step one of our goal to have all
Hartcourt divisions in a position to publicly trade
and have established market values by year-end. We
will continue to add acquisitions and investments in
all four divisions so we can increase their value to
investors and facilitate the divestiture process. In
2002, we will have major equity stakes in four
companies trading on multiple world markets with
shareholders participating in the value of each
spin-off. In addition, the dividend strategy will be
structured to reward long-term shareholders and to
create a high level of risk and accountability in the
borrowing of shares and naked-shorting.
Furthermore, each division¡¯s business model will
incorporate measures to meet all necessary
requirements to move onto the larger exchanges. While
there is no specific timeline established at this
point, achieving this goal will be a major factor in
our operational strategy. We understand we have not
succeeded in our previous effort at a listing on the
Nasdaq NMS, but we will use the lessons learned from
this attempt to avoid mistakes, and to obtain the
planned result.
THE FINANCIAL CONDITION
Last month we announced a dramatic increase in
revenues due to the financial consolidation of our
ElephantTalk, Media services and Sinobull units. We
expect continued improvement in both top and bottom
lines in the third quarter through strong revenue
growth in our existing businesses, and substantial
revenue expansion from acquisitions going forward. We
fully expect to meet the $3.5 Million in revenue
projection for Q3 despite the recent slowdown of the
global economy. We have streamlined operations,
reduced overhead, and have sufficient cash resources
to accomplish our stated goals.
With current revenues from eight operations,
Hartcourt¡¯s share price represents less than 1 times
forward sales. Considering the following factors:
additional acquisitions on stream, Hartcourt¡¯s
favorable market positions in China, the positive
impact of the WTO, the technology edge of our
companies, and the profit-driven business models of
our operations, it appears our share price is
fundamentally undervalued. We believe, as the
divestiture process unlocks the true value of our
assets, the investment community will recognize the
market value we deserve and reflect it in the share
price.
THE MANAGEMENT
Hartcourt¡¯s recent reorganization was just the first
step in a company wide review of personnel and
business operations to guarantee the appropriate
managers and strategies are in place to bring each
operational unit to the next level of sustained
revenues, brand recognition, market penetration and
technological/competitive advantage.
The management teams of Hartcourt¡¯s four divisions
are already taking charge of their daily operations;
with Mr. Stephen Tang ¨C CEO of Sinobull, Mr. Russelle
Choi -CEO of ElephantTalk, and Mr. Alan Chow- CEO of
AI-Asia. Hartcourt will appoint the CEO of the
E-education division in the near future.
These CEO¡¯s represent a ¡°changing of the guard¡± as
we move our operational focus to the consolidation
phase of our accomplishments. I have total confidence
in these executives and their ability to guide their
operations to the next level of success. My role in
all company operations will be significantly reduced
once the divisions are on their own.
THE NEW HARTCOURT
Hartcourt now has four separate divisions that are
generating revenue. These will become four separately
trading, publicly-listed, companies with their own
market dynamics and exceptional leadership:
1) Sinobull Financial Group: This operating group
consists of Financial Telecom Ltd, SinoBull
Information Company Ltd , SinoBull Network
Technology Company, SinoBull.com, and Hartcourt's
investments in Shanghai Wind Information Company.
SinoBull provides financial news and data to
brokerages, financial institutions, and corporations.
It also delivers these financial information to
individual investors via cable TV, magazines and
Internet-based Web sites. The system was supported by
technological platforms and solutions developed and
maintained by SinoBull¡¯s software and technology
group. If in 2015, China¡¯s economy is as large as the
US at the present time, Sinobull will be a household
word like Bloomberg and CNBC.
2) Elephant Talk Group: This group is centered around
Elephant Talk Limited and future joint-ventures with
other Chinese telecom companies. The group is focused
on the development and delivery of comprehensive
telecommunication services, broadband networks,
technology solution and the management of Internet
services. Its products and services include web
hosting, data warehouse, Internet security, E-commerce
services, IP telephony, and a variety of wireless
platforms and solutions. When the telecom industry in
the US was deregulated in the 80¡¯s , Sprint and MCI
came from nowhere to become two major carriers.
Elephant Talk has all the capability and market
position to repeat this historical feat in China after
WTO.
3) The AI-Asia Media Services Group: The operating
companies in this group include
StreamingAsia, Logicspace, V2Technology and Syndicate
Asia with an investment in Beijing Total System
Solutions Ltd. (TSS). The group provides
comprehensive real-time audio and video delivery
solutions (Streaming Media) along with Internet
consulting and web application development for
businesses, professionals, organizations, web sites
and content publishers. If video and audio streaming
is the trend of the future Internet, AI-Asia will be
the one of the leading technology groups in Asia.
4) The E-learning Group: The operations of this
group were formed in a partnership agreement
between Hartcourt, Northern Jiaotong University and
California State University Fullerton to offer
American career training courses and MBA degree
program in China. The business plan is to organize
additional partnerships with other American and
Chinese universities, utilizing AI-Asia technology and
ET¡¯s infrastructure to facilitate the online
education programs in China. Needless to say, every
study show that revenue and profit from online
education will be the largest sector of the
E-commerce. To have the first-mover advantage in this
market will be our competitive edge.
We are confident that the market capitalization of
each individual company can exceed the total present
value of Hartcourt.
OUR MISSION AND THE ACCOMPLISHMENTS
These investments speak for themselves about the
progress Hartcourt has made over the past 18 months.
And we are not done yet. We will continue to acquire
additional assets to infuse into these divisions. Any
dilution to Hartcourt stock will be minimal, because
these new public entities will take care of
acquisition and operational costs through their own
equity and capital resources.
These new companies will focus on fundamentals,
operations, acquisitions, and shareholder value. They
will follow the Hartcourt path and mission in their
own business sectors. Hopefully, they will build their
own empires and give birth to a new generation of ET,
SB and AI subsidiaries¡ like Hartcourt did for them.
The journey is endless, but rewarding, and the
excitement is overwhelming. China is on a road to
become one of the world¡¯s largest economies and these
new companies will be household words in their own
industries. We have set a challenging path that we are
committed to follow as we build an organization with a
strong and prosperous future. There will be blood,
sweat and tears as there will be obstacles, delays and
challenges. But nothing can stop an idea whose time
has come.
As the Greek poet Hesiod once said; ¡°Before the gates
of excellence the high gods have placed sweat; long is
the road thereto and rough and steep at first; but
when the heights are reached, then there is ease,
though grievously hard in the winning." 2500 years
later, Samuel Johnson agreed,¡± Life affords no higher
pleasure than that of surmounting difficulties,
passing from one step of success to another, forming
new plans and seeing them gratified. He that labors in
any great undertaking has his fatigues first supported
by hope and afterwards rewarded by joy. To strive with
difficulties, and to conquer them, is the highest of
human felicity.¡±
It¡¯s amazing how little the road to success has
changed.
Sincerely,
Dr. Alan Phan
Chairman
Note: Certain statements in this letter may constitute
``forward looking'' statements within the meaning of
Section 21E of the Securities Exchange Act of 1934.
Such forward looking statements involve risks,
uncertainties and other factors, which may cause the
actual results, performance or achievement expressed
or implied by such forward looking statements to
differ materially from the forward looking statements.
=====
Dr. Alan V. Phan, Chairman
The Hartcourt Companies, Inc.
9800 Sepulveda Blvd. Suite 818
Los Angeles, CA. 90045 USA
Tel: 310 410 7290 Ext 209
Fax 310 410 7297
Web: www.hartcourt.com
__________________________________________________
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E-mail from Dr.Phan..
Dear Friends:
Last week was the most challenging time of my life.
First, I was just landing in Hong Kong on Tuesday
night when the news of the terrorist attack in NY, DC
and Pennsylvania began to unfold. There are no words
that are adequate to describe this horrific tragedy.
Next afternoon, I received the news that a close
friend just passed away in a traffic accident in San
Jose. It was not related to the national tragedy, but
personally, the loss has been equally devastating. It
has never been easy to accept the fragility of our
existence.
All of Hartcourt’s management and employees are
praying for the victims and their families. We
sincerely extend our sympathies to all those affected
by these heinous acts and we want you to know that our
thoughts are with you. The Hartcourt Companies will be
making a donation to the American Red Cross in the
name of those touched by this tragedy. We would like
to take this opportunity to ask Hartcourt shareholders
to contribute in any way they can to help the victims
and those involved in the rescue efforts. In addition,
a fund raising effort is being conducted among the
employees of Hartcourt’s subsidiaries in China and
Hong Kong to contribute money and other resources to
the relief effort being organized by many American
organizations.
A collateral effect of this event is the uncertainty
that now faces the equity markets. We have faith that
cooler heads will prevail and we want to assure our
investors that Hartcourt’s plans continue to be
realized as scheduled. We will not let these
terrorists disrupt our lives and our works.
Hartcourt’s mission and operations remain intact and
progressing as planned. I will be releasing a review
of our operations and pending developments this week
to bring you up to date.
Again, in times like these it is hard to concentrate
on matters of business but though our hearts are
heavy, we must work harder to justify the reason of
our being here. Hartcourt will continue to make
progress in face of all challenge and we are confident
that the sun will always shine brightest after a
storm.
William Penn taught us that,” No pain, no palm; no
thorns, no throne; no gall, no glory; no cross, no
crown.” We have learned the lesson, it’s time we apply
it to the real world.
Sincerely,
Alan
=====
Dr. Alan V. Phan, Chairman
The Hartcourt Companies, Inc.
9800 Sepulveda Blvd. Suite 818
Los Angeles, CA. 90045 USA
Tel: 310 410 7290 Ext 209
Fax 310 410 7297
Web: www.hartcourt.com
OK mark "FREE" was the wrong word to use..sorry all..
DC100
Hey lexmark don't sweat it dude..I am so far down i won't see day light for a long time..The only winners here are the paid pumpers and you know who you are that get free shares/144 for consultation fee's ect ect...and the bashers who work for those people who would sell there mother for a buck.The big losers are the avg joe investor who buy at all the wrong times..lol
DC100
Whats up with FREDERIC?
8-Aug-01 COHN, FREDERIC
Shareholder 1,857
HRCT (Common NEW) Proposed Sale (Form 144).
Estimated proceeds of $575.00.
Dear friends is email from Alan.
Dear Friends:
>
> I am planning a very detailed report on the “State
> Of
> Hartcourt” to inform you of all factual conditions
> relating to our company operations: from revenue,
> earning, progress, planning to challenges, mistakes
> and changes. I will present it at the annual
> shareholders’ meeting in Los Angeles on 7/20/01 and
> it
> will be sent out later to all shareholders by Email.
> If you want a copy, it’s time to register your Email
> address with Denis Poon at Webmaster@hartcourt.com.
>
> Some one advised me to be very “boring” in this
> report, so people won’t think of it as a PR
> literature. It’s against my nature to be negative
> and
> pessimistic, but I will try my best to play the role
> of a lawyer and an accountant. I would like to
> receive
> from you all the questions you want answers as well
> as
> all the things you want me to discuss in depth.
> Please
> send to me at aphan@hartcourt.com before 7/16/01.
>
> I also hope that you will find the time to attend
> the
> meeting, or at least the dinner on Friday evening.
> Please make reservations with Grace at 310 410 7290
> Ext 211 or Email her at gli@hartcourt.com, again
> before 7/16/01.
>
> Best
> Alan
>
>
>
> =====
> Dr. Alan V. Phan, Chairman
> The Hartcourt Companies, Inc.
> 9800 Sepulveda Blvd. Suite 818
> Los Angeles, CA. 90045 USA
> Tel: 310 410 7290 Ext 209
> Fax 310 410 7297
> Web: www.hartcourt.com
VERY well said Minddoc!!
DC100
Thank you Dr.Phan ..nice up date.eom
Email from Dr.Phan
June 16th, 2001
Dear Friends:
It’s strange but I feel disappointed and frustrated
while Hartcourt operations are moving smoothly ahead
with speed, efficiency and boldness. Maybe the
terrible share price has caused everyone, including
myself, to lose our perspective and started to believe
in the constant negative remarks of our worst enemies.
So here I am , on a beautiful Saturday afternoon in
the LA-LA land, alone in the office doing a bit of
soul searching to share some thoughts with you.
Two repetitive criticism which I have often received
are: one, Hartcourt kept projecting the optimistic
timeline which it was unable to achieve; and two,
Hartcourt has not accomplished the transactions
announced in the press releases.
I have no excuse for the first part: it is plain
stupid to think that the turbulent business climate,
especially in China and under the present high-tech
recession, would allow Hartcourt to complete the task
without any delay or modification. I sincerely
apologize for the mistake. I have kept my mouth shut
and from now on, will let the events speak for
themselves.
On the second criticism, I went back into all the
press releases issued in 1999, 2000 and 2001. Taking
out the minor releases on the subsidiaries’
achievements like Davnet’s contract with
StreamingAsia, books published by Sinobull etc.., I
counted 39 important announcements on Hartcourt’s
acquisitions, merger, partnerships and milestones. Of
these, we have 26 successful completions, 7 still
pending and 6 failures. That is the true final score,
as of today. Comparing to other small development
companies, we deserve cheers and congratulations, not
the self-beatings we subject ourselves daily for the
last few months. Even the failures are blessings in
disguise and all of them are created by factors beyond
our control.
For those skeptical critics, I will go over each
matter one by one so the TRUTH can be verified and
validated.
The failures:
1. Mahadev: This software company withdrew from the US
and international markets due to the high-tech bust
and went back to India. There is not much we can do
about their decision.
2. China On Line (COL): We asked Ernst & Young to
conduct the due diligence after signing the agreement
to determine the fair market value of COL. E&Y could
not complete the task because the legal and accounting
records of COL were in disarray. We recently
terminated the deal.
3. The CD distribution by China Telecom: We had
counted on the 30 Million CD’s distributed by CT to
boost the dominance of our Sinobull Web site thanks to
the link. However, the Chinese government stopped CT’s
effort for fear of creating a monopoly in ISP
business.
4. The Nasdaq application: We did apply for Nasdaq NMS
as announced. However, we decided to pull the
application once we were not certain of our approval
chance. We will apply again as soon as we feel we are
ready.
5. Esat: We took Esat technical team to Beijing to
meet with Innostar, but Innostar rejected Esat
solution. As we also had doubt, we pulled out of the
Esat deal.
6. China Infohighway: The new management came in and
they decided not to honor the agreement we signed with
the old management team. It is futile to sue a
government-owned entity, so we walked. After merging
with a Hong Kong-listed company, China Infohighway was
in financial trouble and they are being liquidated.
The still-pending transactions:
1. Thinkers Group: We have submitted their products to
a technical panel of China Mobile. If they are
approved, we should have good business. If not, we
will not lose anything.
2. Koffman Securities: There is a delay due to the low
share price of HRCT. We should be able to resolve it
soon to complete the deal.
3. Financial TV: The studio has been set up and the
demonstration tapes were produced. However, we cannot
operate it until WTO is signed.
4. Family@Home: The Shanghai company is supposed to
get an exclusive contract with the government-owned
broadband fiber network to provide the last mile
solution for a major portion of the city. As their
temporary contract is limited in scope and operational
area, Hartcourt decided to wait.
5. China Legal On Line: Our Hong Kong partner still
has the exclusive contract with the China’s Supreme
Court to publish legal documents on line. However, the
billionaire Stanley Ho hijacked this project and
pumped in $5 Million to take charge. The money has run
out, and Mr. Ho won’t invest any more. The
re-structure deal would be much more beneficial for
Hartcourt.
6. Equity Credit Line From Swartz: As our share price
has plummeted, we cannot afford to obtain funding this
way. We just have to wait for better timing.
7. Innostar ISP and IP Phone: Elephant Talk has taken
over our position of this joint venture. However, due
to recent change in regulation, we cannot start this
project until WTO is signed.
The completed transactions (there is no need for
explanations):
1. Equis-Reuters partnership.
2. E-Education program with Cal State Fullerton and
Northern Jiaotong University.
3. Elephant Talk acquisition.
4. Fintel Wireless partnership to distribute financial
PDA’s.
5. Sinobul.com being the most popular financial portal
in China.
6. Total Solution System acquisition (TSS): 10 percent
instead of 60 percent.
7. Wind Info investment.
8. ChinaInfo.com: Exchanging contents, links and
revenue sharing.
9. Yahoo!China: Providing financial contents, links
and sharing revenue.
10. SyndicateAsia acquisition.
11. People’s Daily: Providing contents for financial
section.
12. China Securities: Exchange financial data and
sharing revenue.
13. Logic Space acquisition.
14. Legend: Providing software for trading stocks
online via set-top boxes.
15. Nokia: Providing stock trading software and
financial data for WAP users.
16. Microsoft: Developing E-finance and stock trading
software for brokerage houses.
17. Hewlett-Packard: Developing stock trading and
financial data software for Jordana PDA users.
18. IBM: Developing voice-recognition software to
trade stocks.
19. Guo Mao acquisition.
20. StreamingAsia acquisition.
21. Empact Technolgy investment.
22. Shangdi Network acquisition.
23. China Telecom: Exclusive use of 162 Network for
stock trading.
24. Listing on Frankfurt stock exchange.
25. UAC Stock Online acquisition.
26. Financial Telecom acquisition.
Again, the final score is 26 successes, 7 outstanding
and 6 failures (thank God, we were lucky on these
so-called failures). You draw your own conclusion.
As I said earlier, I am quite frustrated and
disappointed at the terrible share price. Of course,
you, the shareholders, are only interested in making
money with a higher share price. It won’t make any
difference if Hartcourt can be successful in 26 more
transactions and the share price remains the same. I
understand this sentiment and that is why I am so
frustrated and disappointed, after working so hard for
so long for the elusive goal. I take full
responsibility for this challenge, even if it’s beyond
my control.
I am as proud as ever on our achievements. I am as
determined as ever on our effort to complete our
mission. I am a soldier and I think I am the best
soldier for this job. I can assure you that we will
arrive at our destination. There is no doubt
whatsoever in my mind. However, will the share price
ever reflect the true value of Hartcourt? I still
believe it will, but after so many disappointments,
you have to make the call. If you decide to walk out
of this long journey now, I will understand and wish
you the best of luck with your investment. If you
stay, let us pray that you will have the patience and
Providence will side with the good guys in the end.
I wish you a great Father’s Day; that your family will
appreciate deeply the hard work and the sacrifice you
have given them. I am grateful for all the support you
have expressed and I promise I won’t fail you.
Keep the faith. “The intensity of our desire will
govern the power with which the force is directed. And
in order to succeed, we must first believe that we
can.” (John McDonald).
Best,
Alan
=====
Dr. Alan V. Phan, Chairman
The Hartcourt Companies, Inc.
9800 Sepulveda Blvd. Suite 818
Los Angeles, CA. 90045 USA
Tel: 310 410 7290 Ext 209
Fax 310 410 7297
Web: www.hartcourt.com
Tin..where is phan? china?
Hartcourt Chairman Reviews Operations and Corporate Planning
With Shareholders
LOS ANGELES, April 3 /PRNewswire/ -- The Hartcourt Companies Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), (www.hartcourt.com) today sent the following letter to its shareholders:
Dear Shareholders:
Oliver Wendell Holmes once said, "The greatest thing in this world is not so much where we are, but in what direction we are moving." I remember that quotation well, because where we are right now is not pretty. And compared to a year ago, it can be a bit depressing, especially if you bought into HRCT or other tech stocks at the market's highs.
As we begin a new quarter in our operations, I would like to convey my belief that while these recent developments will likely cause delays of many pre-planned ventures in China, I believe that large over-extended multi- national and mid-cap corporations will be impacted to a greater degree than the activities of Hartcourt, and may even contribute to additional opportunities being available to those companies nimble enough to act quickly and work within the existing environment.
Our business expansion will continue and I will be traveling to China later this week to seek out new opportunities while taking steps to close some of the transactions we have announced over the past months.
In short, I am as optimistic and confident as ever of achieving our company mission and its objectives. Let me summarize my reasons for this optimistic stance:
1. In contrast with the US, Japan and other countries, China's GNP is
expected to grow at a 7% pace in 2001. The spending in technology
solutions is still going strong; therefore, its tech sector is not
expected to suffer from the earning malaise experienced by US
technology companies.
2. The Chinese stock markets are still appreciating thanks to the opening
of B-shares to local residents. Our SinoBull subsidiaries should do
well in this environment.
3. Due to the slowing economic growth in the US, Japan and Europe, many
multi-national companies that might have posed strong competition to
our ventures have shelved their plans to enter the China market.
Therefore our subsidiaries and strategic investment partners should
enjoy another year of dominance thanks to their current market
penetration.
4. All Hartcourt subsidiaries and strategic partnerships in Greater China
have substantial cash on hand and incur relatively low expenses from
their operations. Even if the economy takes a turn for the worst, they
appear to have sufficient cash flow from operations to sustain them for
the foreseeable future.
5. The plan for monetizing our assets is in place and we expect it to
proceed according to schedule, despite the lower forecasts for the
stock markets. Consequently, I have little doubt that HRCT
shareholders will be holding shares in three additional companies by
this time next year.
6. Our overall management team continues to attract new talent. We are
focused, determined and mentally unshakable. We believe we will be
successful because we are always prepared to take the extra step and do
more than what is required of us. We continue to aim for the top of
the mountain.
During the investor meetings we conducted in March, we answered many questions regarding the purchase of shares in some of the holdings we plan to spin-off through IPOs, as well as the distribution of dividend shares. Let me again share with you our plan:
a. Most of the IPO shares are pre-sold by underwriters to institutional
investors. However, to have a successful IPO with over-subscription,
we need your participation in the subscription to purchase shares.
Even though the amount of money involved is small, the psychological
impact of US and European investors in the IPO process will boost the
level of confidence in the market place. We appreciate your support in
this effort.
b. Hartcourt remains committed to distribute shares of SA, SinoBull and
ETNS to our shareholders. We shall structure the distribution schedule
of these dividends so as to provide the greatest benefit to long-term
shareholders. The distribution of any future dividends is not intended
to be a one-time event, but rather a process that will be completed
over the next two years. Of course, the schedule might be adjusted to
lessen tax consequences or to comply with other legal constraints.
c. It is likely that you will receive these proposed dividends as shares
listed on a foreign stock market. Before we can apply for American
Depository Receipts (ADRs), it is best that you open an international
account with your broker enabling you to trade these issues. Better
yet, you could open an account with Koffman Securities and support our
investment there too. Koffman's applications can be requested through
our office in Los Angeles.
Overall, we are moving steadily in the right direction. The vision is clear, the plan is essentially unchanged and the execution continues. We might have run into a heavy storm, but our ship is sturdy and we plan to arrive at our port as expected. While my feelings are that the next six months will be a difficult period for the financial markets, I also believe that afterwards it will be "Tech Stocks, Act II," and I believe Hartcourt will be a marquee player.
China will still be China with its 1.4 Billion people, cutting edge technology will still be the driving force of our modern economy, and Hartcourt will still be one of the leading Internet companies in Asia. My conviction and commitment to victory and success is as solid as ever. My father used to tell me, "Life is like riding a bicycle. You don't fall off unless you stop pedaling." Let me assure you, our legs are strong and we are riding on. The parade is waiting.
Sincerely,
Dr. Alan V. Phan
Chairman
Forward-looking statements
Certain statements in this news release may constitute "forward looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements.
SOURCE The Hartcourt Companies, Inc.
/Web site: http://www.hartcourt.com/
(HRCT)
CO: Hartcourt Companies, Inc. ST: California, China IN: MLM TLS OTC SU:
mindDoc have you called HRCT and talked to Alan? Maybe with HRCT now owning 85% of SA things might change for the better..Let me know what they say..
DC100
You can't sell now!you don't want to miss IPO..4 mergers..GEM..Any day now!!
DC100
Tuesday May 29, 9:01 am Eastern Time
Press Release
SOURCE: Hartcourt Companies, Inc.
Hartcourt Formed e-Education Partnership With Northern Jiaotong University And California State University, Fullerton
American Business Education Programs Will Be Offered in September 2001
LOS ANGELES, May 29 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced that it has signed a profit-sharing partnership agreement in cooperation with Northern Jiaotong University (www.njtu.edu.cn) and California State University Fullerton (www.fullerton.edu) to jointly develop education projects and introduce American career training courses and post-graduate business programs in China.
The project will offer prestigious American education programs in China, utilizing one of the first online education licenses awarded by China's Ministry of Education. The project is offering both certificate and degree programs with courses designed for relevance in today's business world. Coursework will initially be offered in the classroom and later expanded online.
The education initiative is projected to recruit over 1,200 students for the first year and would be profitable after 12 months. Projected revenue is about $11 Million in 2004. Six business courses taught by U.S. professors are planned to start in September 2001 in Beijing. The initial courses are designed to help students increase their competitiveness in the fast changing environment of the New Economy.
Professor Songdong Xu, the Dean of Northern Jiaotong University's Business School, and Dr. Luu Trankiem, the Director of California State University's International Programs, shared the opinion that, ``Thanks to Hartcourt's investment and commitment, Northern Jiaotong University and California State University Fullerton will be on a fast track to bring the best educational programs available in America to China. We believe this joint effort will be well-received by the Chinese students and it will contribute greatly to the development of other international education projects between the U.S. and China.''
Dr. Charlie Q. Yang, CEO of Hartcourt, commented, ``Education has always been the first priority in Chinese society, the Chinese family and Chinese culture. Every year, hundreds of thousand of Chinese students attend American and European universities at great expense to their families. By bringing the best American programs to China, we're attempting to help thousands of these students save over 70 percent of those costs. When our E-Learning project is officially launched, the impact on China's educational system should be substantial. Our subsidiaries, StreamingAsia and Elephant Talk, will provide the needed Web casting technology and broadband networks.''
About Hartcourt
The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People's Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt's business goal over the next three years is to benefit from a series of IPOs or spin-offs of its core business holdings and investments in Greater China.
Forward-looking statements
Certain statements in this news release may constitute ``forward-looking'' statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.
SOURCE: Hartcourt Companies, Inc.
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Email from Dr.Phan..
Hi Jeff:
thanks for your continuing support. There are 4
mergers pending which I of course cannot talk about.
Once they are complete, the big picture will be
clearer. I appreciate your patience and I will come
back to China next week (Monday) for more negotiation.
Best
Alan
Tin..The PR states revenue of $26 million and a profit of $940,000 in its most recent annual financial statement. What does most recent mean? Does ET report qtr statements? Where can we see there progress over the years? What was the date of this last statement?
TIA DC100
5 yrs between PR's..WOW whats up with that?
5-10 yrs..comeon..lol
CJP..I had to sign up again with RB under new name..Rb bull not making me very happy.
DC100
What's up with RB? New web page,can't get in?
DC100
GoldenGate..Not tooooo much yet, but here's a start:
Jan. 13, 2000 letter to shareholders, Phan says about Sinobull. "Due
to the
shortage of quality Chinese internet firms in the stock market,
Sinobull.com,
with its existing revenue and market positions, is the most
sought-after IPO
company."
Same letter about Innostar: "Esat will join our Innostar joint venture
to
complete 10 gateways in 10 large cities fou our Chinese IP phone
system.
These don't say "promise", but do make definite statements and helped
hyped
his company.
More later..
DC100
Thanks for your thoughts Lucky5.Please post over on RB for us regulars over there..
Thanks again..DC100
where are all the longs? bashers have taken over RB.price down and no positive posts on either board.could this be the end of HRCT?No newbie interested in HRCT would dare buy with all the negitive posts on RB.I for one am not selling but am very worried about my investment.Has a CEO ever been sued for making inacurrate positive statements to pump stock price?
DC100
No thoughts on another 10% drop today!
When is next filing expected with any revs fron SA and other china related companys due out?
tia DC100
About time.. I Hate fractions
Jon..here you go..
HRCT price april 2000
closing price open high low volume
4/20/2000 7.812 8.437 8.437 7.500 90,800
4/19/2000 8.430 8.625 8.875 8.000 184,800
4/18/2000 8.000 7.625 8.500 7.312 448,500
4/17/2000 7.000 4.687 7.500 4.562 562,200
4/14/2000 5.500 7.125 7.500 5.250 442,900
4/13/2000 7.500 9.250 9.375 7.312 315,000
4/12/2000 7.687 10.125 10.187 7.250 454,200
4/11/2000 9.937 10.875 11.187 9.468 140,800
4/10/2000 11.000
EZ..I looked at last year week b/4 tax day and HRCT droped 50%
i WILL BE SITTING ON SIDE LINES THIS WEEK WITH A LITTLE MORE CASH TO SPEND.Cash is king! (Sorry about the caps..)
DC100
HRCT Bid @ .40 bumpy ride this week?
Was there a Convention in Las Vegas to include SA in April?
TIA DC100
Sino..
That was my thinking too.. I sent wire today but bank messed it up.Hope to fix it tomorrow.
DC100
2 PR's last 2 days.Are these 2 PR's the ones Phan was holding back? What a waste of money.
DC100
Thanks Tin..I am a little worried about wording in 10K