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I signed it this afternoon, EC time.
Thanks!
I am most interested in any answer to your first question: "why are the issuing of new shares withdrawn?" What kind of games these debtors are playing?
I appreciate your fine efforts!
Let's hope your objective will be achieved in the not-too-distant future, and you can get a 2013 Ferrari F12 Berlinetta to celebrate your 2013 BD!
YMMS,
TYVM for providing articles on values of spectrum segments. Now if some big reputable shareholders can summarize all of the information in one or two pages for the judge.
With respect to Alternative Transaction, I think it is not related to whether the commons staying intact.
Have a nice day!
PS: From your numerous posts, you must be posting from WC, Hawaii, or Europe
IMHO, sometime next week, by watching the share price movement, one can guess if TSC implies the commons that it is talking about are the current commons.
I am hoping for beneficial compromises wrt current commons.
Well said. Why would TSC have a change of heart, and include current commons in the middle of their revised PORs? The commons TSC is talking about now is the NEW commons after CURRENT commons are cancelled.
As is well known, hedge fund guys always depress the values of assets they try to grab?
Good luck to current commons.
I fully agree. These TSC management guys are trying to fool all current TSC common shareholders.
The fight must be continued until everything is clearly defined in the court documents. The current TSC common shareholders have the right to have a fair share in all TSC assetts.
I do agree that this is a positive sign.
It is an obvious injustice if the judge did not recognize that those who ran this company to the ground would get rewarded while the common shareholders do not.
Cheers!
You nail it right there. I keep wondering about the business plan of TSC now that its major ownership of TSN's assetts (e.g., two satelltes) have been sold.
No! I don't believe so. The sale price is only $1.375 billion, which is below $1.4 billion. So TSN executives will not get any bonuses.
And yet, according to
http://www.reuters.com/article/2011/07/07/terrestar-confirmation-idUSN1E7651W420110707?feedType=RSS&feedName=bondsNews&rpc=43
"Arik Preis, a lawyer for TerreStar, said he is happy with how the deal came together."
Why? Any remote connection to their TSC common restricted shares remaining intact in their sale agreements (TSN and DISH), which are not known in the public domain?
What is going to happen to the promised TSN executives' bonuses now that the sale price is less than $1.4 billion?
http://www.investigativeblogger.com/2011/02/terrestar-executives-bonus-approved-by.html
Any remote ties to those executives' common restricted shares?
Just want to tie things together.
Thanks for a very nice readable article on BK.
Wrt TSN, I am curious as to the bonuses promised to TSN management after the sale of TSN assets. There has been no mentioning of these undeserving bonuses. Are these somehow related to common shares owned by TSN/TSC management?
I am also curious about the realationships among Phil Falcone's LS (being in trouble wrt intersystem interference problems), TSN, and DISH.
TSTRQ, an interesting BK stock indeed!
Thanks for your reply.
IMO, this stock is sort of a gold mine for day traders because of the unresolved BK (bankruptcy) issue (at least to the public), and thus the high volatility in the share price. Money can be made much easier, I think, when the sp fluctuates a lot.
For longer term holders, the BK matter should be kept in mind in holding this stock. This morning, I found a lot of recent discussion of the BK matter since 9/24 in the message boards listed under the company symbol TSTR.
Personally I like to hold this stock long term since I have no experience or time to trade daily.
Good luck to you and others.
Hi,
I am new to this board. I got in this stock on Wednesday, one day after the ATT announcement.
But after some research by Googling, I found out an "old" news that, in early August, TerreStar Corp was working with a restructuring team from Blackstone Group (BX.N) in negotiations with its major creditors, including Phil Falcone’s Harbinger Capital Partners in a bid to stave off a bankruptcy filing, the sources said.
I wonder how ATT fits into this effort to avoid bankruptcy talk. Anh how this would affect the share price performance until this matter can be resolved in TerreStar's favor, i.e., without bankruptcy.
Thanks for anu illumination on this complex issue.
EastWind
Hi BG
It's nice to see HRCT still alive. A mystery to me for some years (Many in this situation have come under.)
Waiting for bright days.
Go HRCT!
I agree with your estimated timeline. HRCT has demonstrated its tenacity and survivability through its many ups and downs. I think there is a pretty good chance that it would become one of the mainstream China stocks.
Cheers!
Press Release Source: The Hartcourt Companies, Inc.
Hartcourt Announces It Has Obtained the Approval From the Industry and Commerce Bureau of Beijing Municipality on the Registration of Ownership Change of China Princely
Tuesday May 15, 6:55 am ET
SHANGHAI, CHINA--(MARKET WIRE)--May 15, 2007 -- The Hartcourt Companies, Inc. (OTC BB:HRCT.OB - News) (Frankfurt:900009.F - News) (the "Company") today announced that the Industry and Commerce Bureau of Beijing Municipality has approved the registration of the ownership change of China Princely Education Technology Development Company Limited. The Bureau also approved the new company's name, Hartcourt Princely Education Technology Development (Beijing) Company Limited (the "Hartcourt Princely"), and it will issue a new business license to reflect the ownership and name change of the Hartcourt Princely by next week. The Hartcourt Princely is now a 100% subsidiary of Hartcourt.
I've been waiting for The PR like today's PR. For such a well-rounded team, both inside and outside, success is just a matter of time IMO. So many Ph.D.'s (business savvy too) around!
I am definitely excited about HRCT now. Relax ...
Happy New Year (Lunar New Year falls on February 18, 2007 — The Year of the Pig) to All!!!
http://www.hartcourt.com/english/ONEWS.asp?id=150
While I am again excited about the future of HRCT, I do want HRCT management to proceed professionally in solid steps. Concrete results reported in future filings will be most welcome news.
Go HRCT!
Emerging Markets outlook for 2007 - India, China, Russia, Eastern Europe and Brazil
-- Posted Thursday, 28 December 2006
China
China continues to enjoy strong GDP growth of 10% per annum, the construction boom also continues as tens of millions flock to new cities every year. This economic prosperity is leading to an ever growing middle class, that is increasingly adopting western style consumer appetites. So even if export demand slackens from a slowing US, this looks set to be made up by increasing demand generated in the domestic economy. Hence the gains during 2006 look set to continue during 2007 and for many years beyond, despite the occasional correction See full prospects for China in Emerging Markets - Chinese Red-chips Soar into Orbit, is Gold Next?
http://news.goldseek.com/GoldSeek/1167322446.php
Go HRCT!
Good for you. You have a decent chance to become a millionaire should things develop favorably in 2007 and beyond
1. Compare : "This placement consists of 3,709,118 shares of the Company's common stock at a purchase price of USD 0.068 per share for total gross proceeds of USD 252,372." from http://biz.yahoo.com/iw/061205/0191389.html on 12/5/2006
and
29-Dec-06 0.08 0.11 0.07 0.10 1,722,900 0.10
28-Dec-06 0.06 0.07 0.06 0.07 402,400 0.07
27-Dec-06 0.06 0.07 0.06 0.07 175,300 0.07
26-Dec-06 0.07 0.07 0.06 0.07 737,000 0.07
22-Dec-06 0.07 0.07 0.07 0.07 75,700 0.07
21-Dec-06 0.07 0.07 0.07 0.07 57,100 0.07
20-Dec-06 0.06 0.07 0.06 0.07 74,900 0.07
19-Dec-06 0.06 0.07 0.06 0.07 37,000 0.07
18-Dec-06 0.07 0.07 0.07 0.07 38,300 0.07
15-Dec-06 0.07 0.07 0.07 0.07 63,200 0.07
14-Dec-06 0.07 0.07 0.07 0.07 96,400 0.07
13-Dec-06 0.07 0.07 0.07 0.07 56,800 0.07
12-Dec-06 0.07 0.07 0.07 0.07 70,600 0.07
11-Dec-06 0.07 0.07 0.07 0.07 314,200 0.07
8-Dec-06 0.07 0.07 0.07 0.07 19,800 0.07
7-Dec-06 0.07 0.07 0.07 0.07 55,900 0.07
6-Dec-06 0.07 0.07 0.07 0.07 210,700 0.07
5-Dec-06 0.07 0.07 0.07 0.07 283,600 0.07
The sp does not drop below $0.07 for this period.
2. Note the statement "while the Company guaranteed the average 3-day closing price of its shares prior to one-year anniversary of the issuing date of consideration shares not less than US$0.50 per share." from http://biz.yahoo.com/iw/061229/0198659.html
presumably from Ph.D.'s (from excellent universities) like Hu, Wang, etc.
Go HRCT!
My breakeven sp = $0.45 (since 2000); hopefully HRCT will be like another AOB soon enough )
Go Go Go HRCT!!!
Education is the most important thing to acquire in life. Education allows a person to take advantage of changes in life!
A background for HRCT:
http://news.yahoo.com/s/afp/20061126/wl_asia_afp/australiachinaindiaeconomygrowth
Go HRCT!!!
Go HRCT!
On a related subject, see:
http://news.yahoo.com/s/nm/20060928/tc_nm/life_education_india_dc;_ylt=Ate1eWAHnArzCZnmkkF.dwqs0NUE;...
U.S. homework outsourced as "e-tutoring" grows By Jason Szep
Thu Sep 28, 10:43 AM ET
Private tutors are a luxury many American families cannot afford, costing anywhere between $25 to $100 an hour. But California mother Denise Robison found one online for $2.50 an hour -- in India.
"It's made the biggest difference. My daughter is literally at the top of every single one of her classes and she has never done that before," said Robison, a single mother from Modesto.
Her 13-year-old daughter, Taylor, is one of 1,100 Americans enrolled in Bangalore-based TutorVista, which launched U.S. services last November with a staff of 150 "e-tutors" mostly in India with a fee of $100 a month for unlimited hours.
Taylor took two-hour sessions each day for five days a week in math and English -- a cost that tallies to $2.50 an hour, a fraction of the $40 an hour charged by U.S.-based online tutors such as market leader Tutor.com that draw on North American teachers, or the usual $100 an hour for face-to-face sessions.
"I like to tell people I did private tutoring every day for the cost of a fast-food meal or a Starbucks' coffee," Robison said. "We did our own form of summer school all summer."
The outsourcing trend that fueled a boom in Asian call centers staffed by educated, low-paid workers manning phones around the clock for U.S. banks and other industries is moving fast into an area at the heart of U.S. culture: education.
It comes at a difficult time for the U.S. education system: only two-thirds of teenagers graduate from high school, a proportion that slides to 50 percent for black Americans and Hispanics, according to government statistics.
China and India, meanwhile, are producing the world's largest number of science and engineering graduates -- at least five times as many as in the United States, where the number has fallen since the early 1980s.
Parents using schools like Taylor's say they are doing whatever they can to give children an edge that can lead to better marks, better colleges and a better future, even if it comes with an Indian accent about 9,000 miles away.
SLANG & AMERICAN ACCENTS
"We've changed the paradigm of tutoring," said Krishnan Ganesh, founder and chairman of TutorVista, which offers subjects ranging from grammar to geometry for children as young as 6 years old to adults in college.
"It's not that the U.S. education system is not good. It's just that it's impossible to give personalized education at an affordable cost unless you use technology, unless you use the Internet and unless you can use lower-cost job centers like India," he said over a crackly Internet-phone line from Bangalore. "We can deliver that."
Many of the tutors have masters degrees in their subjects, said Ganesh. On average, they have taught for 10 years. Each undergoes 60 hours of training, including lessons on how to speak in a U.S. accent and how to decipher American slang.
They are schooled on U.S. history and state curricula, and work in mini-call centers or from their homes across India. One operates out of Hong Kong, teaching the Chinese language.
As with other Indian e-tutoring firms such as Growing Stars Inc., students log on to TutorVista's Web site and are assigned lessons by tutors who communicate using voice-over-Internet technology and an instant messaging window. They share a simulated whiteboard on their computers.
Denise Robison said Taylor had trouble understanding her tutor's accent at first. "Now that she is used to it, it doesn't bother her at all," she said.
TutorVista launched a British service in August and Ganesh said he plans to expand into China in December to tap demand for English lessons from China's booming middle class. In 2007, he plans to launch Spanish-language lessons and build on Chinese and French lessons already offered.
A New Delhi tutoring company, Educomp Solutions Ltd., estimates the U.S. tutoring market at $8 billion and growing. Online companies, both from the United States and India, are looking to tap millions of dollars available to firms under the U.S. No Child Left Behind Act for remedial tutoring.
Teachers unions hope to stop that from happening.
"Tutoring providers must keep in frequent touch with not only parents but classroom teachers and we believe there is greater difficulty in an offshore tutor doing that," said Nancy Van Meter, a director at the American Federation of Teachers.
But No Child Left Behind, a signature Bush administration policy, encourages competition among tutoring agencies and leaves the door open for offshore tutors, said Diane Stark Rentner of the Center on Education Policy in Washington.
"The big test is whether the kids are actually learning. Until you answer that, I don't know if you can pass judgment on whether this is a good or bad way to go," she said.
HRCT Dynasties (Rev.1)
1. AP
2. Others and DC
3. CH (emphasis on earning/cleaning house)
4. VZ and YH, May 2006
Hopefully this time they will make it, for all to enjoy $$$$$.
Go HRCT!
FYI
http://www.unityonecapital.com/
Business
Unity One Capital focuses on investing in small-to-medium size enterprises in Mainland China and Hong Kong. Unity One Capital is particularly interested in SMEs in financial information, internet-related and media services with a high level of information technology deployment.
History
Unity One Capital was incorporated in Nevada, USA on December 20, 2005. It was a subsidiary of MKA Capital Inc. (previously known as Financial Telecom Limited (USA), Inc.) MKA Capital distributed all its shareholdings in Unity One Capital to its shareholders of record November 18, 2005. Unity One Capital is now an independently operated company.
Management
Stephen Tang, Chairman
Mr. Stephen Tang (aged 54) has substantial working experience in merchant banking and financial services in major Asian countries. He held senior management positions in corporate, project and trade finance as well as M&A. He has also been involved in the development and implementation of financial information service for over twenty years. Mr. Tang's contributions include development of new and innovative products and creation of strategic alliances in China, Taiwan, Korea and the United States. Mr. Tang was the Chairman of Financial Telecom Limited (USA), Inc. (now known as MKA Capital, Inc.). He was a member of the board of directors of the Hartcourt Companies Inc and Elephant Talk Communications Inc. These 3 companies are listed on the OTC BB in USA.
Mr. Tang holds a Master's degree in Business Administration from the Asian Institute of Management (AIM) in Manila. He was a Trustee of the AIM Scientific Foundation and is currently the Hon. Treasurer of the Hongkong Federation of Information Technology.
David Wu, Executive Director
Mr. David Wu (aged 47), has substantial commercial and investment banking experience in Hong Kong and Mainland China. His commercial banking career started in 1982 when he joined the Wing Lung Bank Ltd. in Hong Kong. In 1994 Mr. Wu joined the then largest global bank, the Sumitomo Bank of Japan, and held management positions in marketing and corporate finance. In 1997, he joined ING Barings, a leading financial service group, as Vice-President of Corporate and Investment Banking, to take charge of its Southern China region. Mr. Wu held a number of senior positions in corporate finance, structured finance and special assets. His areas of specialties are in the fields of commercial aviation, automobiles, financial services, infrastructure and property development.
Mr. Wu holds a Bachelor's Degree in Business Administration from The Chinese University of Hong Kong and an Executive MBA Degree from University of Ottawa.
Presently, he also serves directorship with Mastermind Strategy Advisors, a management and financial advisory company, and CN-Debug Co. Ltd., a satellite airtime reseller.
Contact Information
Hong Kong
5th Floor, 168 Queen's Road Central
Central District
Hong Kong
Tel: 852 2868 0668
Fax: 852 2877 5021
China
518 Parkview Square Hotel
960 Jie Fang Bei Road
Guangzhou 510040
China
Tel: 8620 8669 4723
Fax: 8620 8666 7503
Email: info@UnityOneCapital.com
Au contraire, at that sp there is no need to waste time on those cyberspace dudes
More rain to come to end the (sp) drought!
Profit revenue profit revenue ...
Go HRCT!!!
Hopefully the small rain last Friday would mean the beginning of the end of the sp drought.
Go HRCT!
Gents: I've been in this stock too... long... too. So I hope that HRCT will make it this time.
On OT: So much for love/jealousy at old age!
http://www.msnbc.msn.com/id/8975885/
Profit is now the name of the game. So wait. In the meantime, expand your horizon, if possible, reading
http://www.amazon.com/exec/obidos/ASIN/0385509863/qid=1123503958/sr=2-1/ref=
pd_bbs_b_2_1/104-9959449-5051954
http://en.wikipedia.org/wiki/Michio_Kaku
A lesson HRCT management can learn from:
"At that price, Baidu's market value stood at $2.9 billion -- a lofty appraisal for a 5 1/2-year-old company that only recently became profitable. The company earned $1.8 million on revenue of $13.6 million during the first half of this year."
http://biz.yahoo.com/ap/050805/baidu_ipo.html?.v=4
Aries: Good clarification. After seeing all the litters on HRCT's path - particularly the damaging SEC thing - a prudent CEO like CH would not have made such a promise. Anyway, this matter can be cleared up easily in three weeks.