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Ich bin mir sicher, dass der Zug abgefahren ist. Jetzt könnten nicht mal mehr shareholder letter vom Dr vom Lake Michigan helfen...! Vielleicht hätte ich bei $ 20 (pre split) verkaufen sollen...!?? Gehe davon aus, dass wir jetzt alle 2 Wochen einen Tick niedriger rutschen.
Gustav
Wenn das persönlich bei mir nicht so eine massive Geldvernichtung wäre, würde ich euch ganz witzig finden....
Wie findet ihr denn den augenblicklichen Kurs...???
Könnte Ko...
Gustav
Dein Wort in Gottes Ohr! Sonst kaufe doch mal den Laden auf und ziehe den Kurs auf 10 Cent! Dann bist du mich auch sofort los....
Gustav
...aber Bid ist schon bei 0,004!!! Gefällt mir nicht...
Gustav
.....so viel zum Thema 0,055 hält...!!! Here we go downtown!!!! Würde am liebsten nach Shanghai fliegen und den Verantwortlichen die Klüten lang ziehen!!!!!!
Gustav
...ehrlich gesagt glaube ich auch, dass es nur noch eine Frage der Zeit ist, wann Bid und Ask weiter in den Keller fallen...!
Gustav
@ Beamter: Wenn HRCT nicht mal mehr auf Fragen von Tin, Rattle oder Franz reagiert, bezweifle ich, dass eine erneute mail was bringen wird. Aber es ist doch eine börsennotierte Firma, einer muss da doch noch das Zepter schwingen und demnächst einen Quartalsbericht veröffentlichen!!? Allerdings habe ich mich inzwischen von meinem Investment verabschiedet und versuche mich nicht jeden Tag darüber aufzuregen. Nur wenn man die Verantwortlichen vor Gericht zur Rechenschaft ziehen könnte (wegen Falschaussagen), würde ich noch mal hellhörig werden!!
Gustav
@ Beamter: Das habe ich auch schon vor einigen Tagen festgestellt. Wahrscheinlich "restrukturieren" sie lediglich die Seite, um uns auf den neuesten Stand zu bringen...
Gustav
@ CE: Stimmt!! Zum Glück muss man sich über diese spams ja nicht aufregen, da HRCT rund läuft...!!!
Gruss, Gustav
@IQIQ: Wenn da in der irgendeiner Weise Aussicht auf Erfolg besteht, sofort!!!! Und liebend gerne!!
Gustav
aber Bid: 0,0066; Ask: 0,009 $. Befürchte, wir werden uns an diese vielen Nullstellen gewöhnen müssen!!
Hänge mir ab morgen einen Boxsack ins Zimmer und schreibe da Hu, Zhou, Li, Zhang & Co drauf...
Gustav
@ CE: uuups, du hattest ja genau das gleiche geschrieben! Sorry!
Trotzdem ist und bleibt HRCT ein skandalöser Saftladen!!
Gustav
wer ist denn eigentlich Amanda Zhang?? Weil bei CFO im Managemant von HRCT eine Rachel Zhang eingetragen ist! Oder hat die kleine Schwester kurz das 8k herausgegeben....
Gustav
Über die Möglichkeiten HRCT aufgrund sämtlicher Falschaussagen und "Aktionärsvera...." zu verklagen, habe ich auch schon nachgedacht. Würde dem Beamten 100 % zustimmen, dass mir das auch noch mal ein Betrag x wert wäre, wenn eine Chance bestehen würde. Bezweifle aber, dass man so eine OTCCB-Klitsche zu fassen bekommt!!
Wenn man überlegt was HRCT in den letzten 10 Jahren versprochen und nicht eingehalten hat, kann man darüber ein Buch schreiben.
Kann man mit unseren amerikanischen Freunden nicht evtl. eine Sammelklage gegen diese Bruchbude führen??
Gustav
@ Rattle: Klingt durchaus plausibel. Aber HRCT muß doch mit so einer Reaktion von Yuan rechnen und bringt trotzdem das filing kurz vor der absoluten deadline raus. WARUM? Warum provozieren sie dieses Verhalten? Wie ihr schon festgestellt habt, gab es keinen Grund den Quartalsbericht so spät einzureichen. Die paar schlechten Zahlen hätten sie ja locker rechtzeitg fertig haben können!
Reaktion von Yuan völlig verständlich, von HRCT leider überhaupt nicht. Kombiniert mit der fehlenden Kommunikation seitens HRCT bin ich durchaus beunruhigt...
Gruss, Gustav
ich würde dir ja Recht geben, aber die Vergangenheit hat gezeigt, dass HRCT anscheinend gerne mal Halbwahrheiten verkündet usw. Wenn sie jetzt schon auf Rückzahlung verklagt werden, hört sich das für mich nach einem Scheitern an! Ich lass mich gerne positiv überraschen, würde mich aber nicht wundern, wenn Sino tatsächlich von dem merger zurücktreten wird. Und wenn das läppische "E" dafür den Ausschlag gibt, begreife ich weiterhin nicht, warum HRCT nicht den Quartalsbericht pünktlich abgibt!!!
Ach ja, warum die unglaublich gut laufenden Subs auch keine Gewinne machen (bei jährlich mind. 30-50 % Wachstum) ist mir auch nicht klar!!!!
Grrrrrrr!!
Item 2.04 Triggerring Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement.
As of May 17, 2010, Yuan Dian Investment Inc. (“Yuan Dian”) submitted a complaint with Shanghai No. 1 Intermediate People’s Court against The Hartcourt Companies, Inc. (“the Company”), its subsidiary Hartcourt Education Investment Management Consulting (Shanghai) Co., Ltd. (“Yike”) and its former employee Mary Qi, requesting the defendants to return the loan with the amount of over RMB 3,000,000 in cash and pay the related damages and losses caused by the breach of agreement on the Hartcourt side.
As of August 2009, Yuan Dian and Hartcourt reached a loan agreement, by which Yuan Dian agreed to lend up to USD 1,300,000 to Hartcourt and its nominee in China to support the Company’s business operation before it closes its Transaction with Sino-Canada Investment Group Inc. (“Sino-Canada”), and whereby Hartcourt agreed to repay all the outstanding loan in accordance with its terms by issuing shares of common stock of Hartcourt at a price of $0.88 per share upon the closing or by cash if Yuan Dian requests. Yuan Dian claims that it has lent to Hartcourt and its nominee over RMB 3,000,000 through separate payments in accordance with the loan agreement.
As an “E” letter has been added to the Company’s stock ticker symbol for its delinquency in filing the third quarter 10-Q report of 2009 with the Securities Exchange Commission (“SEC”), for which the reason was, as Yuan Dian learned, that the financial data of the Company’s two subsidiaries Beijing Yan Yuan and China Arts and Science Academy were illegally occupied by its former employee Mary Qi, Yuan Dian, therefore, suspects that the Company has serious flaws in the corporate governance and requests the Company to repay all the outstanding amount of the loan in cash. Yuan Dian has further learned that Sino-Canada has concerns on the “E” letter added to the Company’s stock ticker symbol and foresees that the Transaction with Sino-Canada will be terminated by Sino-Canada for the breach of representation and warranty on the Hartcourt side. Therefore, Yuan Dian complained to the court against Hartcourt, Yike and Mary Qi, requesting the defendants to return all the outstanding loan with the amount over RMB 3,000,000 in cash and pay the related damages and losses caused to it by the breach of agreement on the Hartcourt side, while the illegal occupation of financial data by Mary Qi should be regarded as an infringement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 19, 2010
THE HARTCOURT COMPANIES, INC.
By: /s/Amanda Zhang
Name: Amanda Zhang
Title: Vice President
...wobei man davon ausgeht, dass Sino von dem deal zurücktreten wird!!!
Die Leute bei HRCT sind wirklich nicht mehr normal!!!!!
Gustav
...aber trotzdem begreife ich nicht, warum der Quartalsbericht nicht einfach pünktlich abgegeben wird!? Oder meint ihr, dass man noch gehofft hat, etwas über den merger mitreinbringen zu können? Es gab aber doch für den merger mit Sino eine deadline bis Mai 2010? Normalerweise könnte man noch Hoffnung haben, aber HRCT hat in der Vergangenheit sehr häufig bewiesen, wie man Aktionäre enttäuscht...
Gustav
@ Rattle: Ok, danke! Dein Wort in Gottes Ohr!!!
Gruss, Gustav
Hätte in dem filing denn eigentlich was stehen müssen, wenn der deal schon endgültig vom Tisch wäre? Wahrscheinlich haben wir in 2 Monaten einen neuen Vorstand, neue Aktien im Umlauf und mit der Herstellung von Müllbeuteln ein neues Geschäftsmodel...
Ich will Phan und seine shareholder letter vom Lake Michigan zurück...!
Gustav
Auf jeden Fall scheint ein wenig Handelsvolumen in die Aktie zu kommen!!!! Sollte HRCT doch noch aus dem Quark kommen...!??
Gruss, Gustav
Mein Bauchgefühl sagt mir, dass es wieder einmal ein paar Probleme gibt...! Wahrscheinlich wird die Sache gecancelt und sie zaubern parallel ein neues Geschäftsmodel aus dem Hut...
Gustav
@ Franz: Thanks for sharing the information. Indeed, it`s sounds interesting. I hope, HRCT will close the deal in the time frame, till May!!!
Gustav
@ Rattle: Danke für deine Einschätzung! Allerdings ist das/der (?) Proxy doch noch nicht raus, insofern könnten die HRCT Aktionäre den deal doch noch verhindern! Wenn der Kurs also auf 4-5 Cents steigt, nicken die Aktionäre den deal zu 1,1 Cents doch nicht unbedingt ab!!? Also warum steigt der Kurs jetzt schon vor dem Proxy?? Oder haben wir das Ding evtl. fast schon im Briefkasten??
Aber deine Antworten hören sich sehr schlüssig und interessant an!
Gruss
Gustav
Es scheint relativ offensichtlich, dass der Kurs bei zwar steigenden, aber nicht wirklich großen Umsätzen, nach oben gezogen wird. Mir übrigens ein Rätsel, wie man das auf Knopfdruck machen kann. Wo sind die MM, die den Kurs dann wieder nach unten treiben?
Wahrscheinlich ist es nur Hype jetzt. Wenn der Kurs allerdings auf 4-5 Cents gehoben wird und dann kommt der merger mit Sino und evtl. eine Ankündigung, dass man an die Nasdaq wechseln möchte, könnte richtig Phantasie entstehen! Mir wäre es recht!! Auf jeden Fall ist es endlich mal wieder spannend!!!
Gustav
"Total revenues for the second quarter of 2009 decreased 22.5% to $498,909 from $643,996 in the second quarter of 2008. The Company believes this was primarily the result of recovery of the job market as less people turned to vocational education. In the second quarter of 2008, at the heights of the global financial crisis, many people had lost their jobs and even students could not find jobs, and many of them chose to take vocational education"
Die denken sich aber auch immer neue Begründungen aus...! Eigentlich waren sie doch vorher äußerst bullisch, dass es jedes Jahr mind. 10-20 % Zuwächse gibt, egal wie die konjunkturelle Lage aussieht!!?
Egal, HRCT verschwindet bald von der Bildfläche und anscheinend steht der merger direkt vor der Tür! Hoffentlich läuft HRCT bis dahin noch etwas weiter Richtung Norden!!
Gustav
Hartcourt Companies, Inc. Announces Profitable Second Quarter 2009 Ended November 30, 2009
SHANGHAI, Jan. 19 /PRNewswire-Asia-FirstCall/ --
The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt 900009) ("Hartcourt" or "the Company"), a growing provider of vocational education and technical training services in the People's Republic of China ("PRC"), today announced that it obtained profits in financial results for the second quarter ended November 30, 2009
Second Quarter 2009 Highlights: -- Total revenues were $955,847 for the six months ended November 30, 2009, increased 11% from $859,963 in the same period 2008; -- Gross profit in the second quarter was $378,992 and gross margin was 76.0%; -- For the six months ended November 30, 2009, gross profit was $727,948 and gross margin was 76%; -- Operating expenses decreased 42.8% to $170,911 for the three months ended November 30, 2009 compared with that in the same period 2008; -- Net income was $55,829 for the three months ended November 30, 2009; -- Hartcourt entered in an engagement letter with KingWeet AMS, which helped on investor relations services
"We continued to be optimistic on the prospects for China's vocational education market and are very pleased with our profitable results," said Ms. Amanda Zhang, Senior Vice President of The Hartcourt Companies, Inc. "Hartcourt's management believes the vocational education market in China has great potential and plans to capitalize on this opportunity to develop the business. In anticipation of Hartcourt's pending transaction with Sino-Canada Investment Group, management focused on reducing non-essential expenses in its existing businesses in the second quarter
Second Quarter 2009 Results
Total revenues for the second quarter of 2009 decreased 22.5% to $498,909 from $643,996 in the second quarter of 2008. The Company believes this was primarily the result of recovery of the job market as less people turned to vocational education. In the second quarter of 2008, at the heights of the global financial crisis, many people had lost their jobs and even students could not find jobs, and many of them chose to take vocational education
Gross profit in the second quarter of 2009 was $378,992 and gross margin was 76.0%
Operating expenses in the second quarter of 2009 were $170,911, down 42.8% from 298,741 in the second quarter of 2008. During operating expense, general and administrative expenses were $57,763 compared to $293,246 for the same period in 2008, a decrease of $ 235,483 or 80.30%. The decrease of expenses was primarily due to the improvement of working efficiency and the decrease of unnecessary expenses. Depreciation and amortization expenses were $113,148 for the three months ended November 30, 2009 compared to $5,495 for the same period in 2008, or a $107,653 increase. The increase was primarily due to the acquisitions of Beijing Yanyuan and China Arts & Science Academy
Operating income was $208,081 in the second quarter of 2009, compared to $311,473 in the second quarter of 2008. Provision for income taxes was $44,646 in the second quarter of 2009, compared to $74,391 in the same quarter of the previous year
Net income for the second quarter of 2009 was $55,829, or $0.00 per diluted share, compared to $274,633, or $0.00 per diluted share, in the second quarter of 2008. Fully diluted weighted average shares increased to 386,966,816 from 255,430,112 in the second quarter of 2008
Six Month Results
For the first half of 2009, revenues increased to $955,847, up 11% from $859,963 in the corresponding period of 2008. Gross profit was $727,948 in the first six months of 2009, versus $806,640 in the same period a year ago. Operating income in the first half of 2009 decreased to $264,976 compared to $377,197 in the first half 2008. Net loss for the first six months of 2009 was $32,417 or $ 0.00 per diluted share, while net income was $251,571, or $0.00 per diluted share in the first half of 2008
Financial Condition
As of November 30, 2009, Hartcourt had $2.6 million in current assets, a 45.8% increase over $1.8 million recorded at May 31, 2009 without debt. Stockholders' equity at November 30, 2009 slightly increased to $4.3 million compared to $4.0 million at May 31, 2009. The Company used $95,640 in net cash flow from operating activities in the first half of 2009, up from $202,788 in the same quarter of 2008
Subsequent Events
On January 7, 2010, Hartcourt entered into an engagement letter with KingWeet AMS, an investor relations firm, to provide investor relations services for a period commencing January 7, 2010 and ending December 31, 2010. The company's management believes that Hartcourt is a well established educational service provider in China and is well positioned to take advantage of a largely untapped, emerging market and will work with KingWeet AMS to realize shareholder value for many years to come
About KingWeet International Ltd. After Market Support (KingWeet AMS)
KingWeet AMS is a financial marketing firm specializing in creating liquidity for publicly traded stocks and a wholly owned subsidiary of Keating International Ltd. KingWeet AMS is uniquely positioned to provide an outsourced, high-level investor relations solution that combines in-depth understanding of China's corporate culture and economic scene with a direct pipeline into the leading funds and broker-dealers in the United States. KingWeet AMS is a global, full-service investor relations agency with corporate headquarters in Hong Kong, and offices in New York, Hong Kong and Shanghai. For more information, contact KingWeet AMS
About Hartcourt Companies, Inc
Founded in 1983, Hartcourt is a U.S. corporation with subsidiaries in China and other jurisdictions. Hartcourt moved its headquarters to Shanghai, China in 2002. In August 2006, Hartcourt changed its business model to focus on the education market in China. From May 2007 to October 2008, Hartcourt completed the acquisition of China Princely Education Technology Development Company Limited, an authorized accrediting organization for China vocational education located in Beijing, PRC sixty percent of the outstanding equity of Beijing Yanyuan Rapido Education Company, a well-known training institution in China and sixty percent of the outstanding equity of China E & I Development Co. Ltd., which does business as the China Arts and Science Academy
Forward-looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. In addition, please refer to the Risk Factor section of our 2008 Form 10-K filed with the Securities and Exchange Commission on May 13, 2009
The Hartcourt Companies, Inc. and Subsidiaries Unaudited Consolidated Statements of Operations
Three Months Ended Six Months Ended November 30, November 30, 2009 2008 2009 2008 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues $498,909 $643,996 $955,847 $859,963 Cost of Goods Sold 119,917 33,782 227,899 53,723 Gross Profit 378,992 610,214 727,948 806,240 Operating Expenses Selling, general and administrative 57,763 293,246 292,990 420,794 Depreciation and amortization 113,148 5,495 169,982 8,249 Total operating expenses 170,911 298,741 462,972 429,043 Income from continued operations 208,081 311,473 264,976 377,197 Other Income (Expense) Foreign currency exchange gain 5,255 45,753 5,049 -- Interest income 14,003 -- 20,998 51,189 Gain on settlement debt -- 188,765 -- 188,848 Total other income (expense) 19,258 234,518 26,047 240,037 Income from continued operations before income taxes and noncontrolling 227,339 545,991 291,023 617,234 Provision for Income Taxes (44,646) (74,391) (81,415) (110,193) Noncontrolling interest, net of taxes (126,864) (196,967) (242,025) (255,470) Net Income $55,829 $274,633 $(32,417) $251,571 Basic Earnings Per Share $0.00 $0.00 $0.00 $0.00 Basic Weighted Average Shares Outstanding 386,966,816 255,430,112 386,966,816 264,935,687 Diluted Earnings Per Share $0.00 $0.00 $0.00 $0.00 Diluted Weighted Average Shares Outstanding 386,966,816 255,430,112 386,966,816 266,613,190 The Components of Other Comprehensive Income Net Income $55,829 $274,633 $(32,417) $251,571 Foreign currency translation adjustment 4,769 30,001 8,563 57,533 Comprehensive Income $60,598 $304,634 $(23,854) $309,104
The Hartcourt Companies, Inc. and Subsidiaries Unaudited Consolidated Balance Sheet
ASSETS November 30, 2009 May 31, 2009 (Unaudited) (Unaudited) Current Assets Cash and cash equivalents $89,859 $102,085 Accounts receivable 1,561,316 863,244 Loans receivable 944,570 822,551 Prepaid expenses 19,737 5,792 Total current assets 2,615,482 1,793,672
Property and equipment, net 45,898 57,640 Intangible assets, net 3,821,992 3,923,356
$6,483,372 $5,774,668
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities Accounts payable $-- 141,331 Accrued expenses and other current liabilities 1,690,923 1,337,571 Loan payable 274,429 -- Due to related parties 185,211 246,862 Total current liabilities 2,150,563 1,725,764
Stockholders' Equity Original preferred stock $(0.01 par value, 1,000 shares authorized, none issued and outstanding) -- --
Class A preferred stock(10,000,000 shares authorized, none issued and outstanding) -- --
Common stock ($0.001 par value, 424,999,000 shares authorized, 389,015,544 and 386,966,816 issued and outstanding, respectively) 386,967 386,967
Additional paid-in capital 77,238,990 77,156,131 Treasury stock, at cost, 2,048,728 shares (48,728) (48,728) Other comprehensive loss (152,142) (143,579) Noncontrolling interest 394,288 152,261 Accumulated deficit (73,486,566) (73,454,148) Total stockholders' equity 4,332,809 4,048,904
$6,483,372 $5,774,668
The Hartcourt Companies, Inc. and Subsidiaries Unaudited Consolidated Statements of Cash Flows
Six Months Ended November 30, 2009 2008 (Unaudited) (Unaudited) Cash flows from operating activities Net Income $(32,417) $251,571 Adjustments to reconcile net cash provided by operating activities Depreciation and amortization 113,148 8,249 Noncontrolling Interest 242,025 255,470 Stock options issued for service 82,859 79,709 Stock issued for services and compensations -- 58,922 Gain on settlement of debt -- (188,848) Net change in assets and liabilities Accounts receivables and other receivables (699,208) (593,742) Inventories -- 6,630 Prepaid expenses (13,162) (187,571) Accounts payable 141,331 (131,570) Accrued expenses and other current liabilities 69,784 238,452 Net cash used in operating activities (95,640) (202,728)
Cash flows from investing activities Loan receivable (121,695) -- Cash received on acquisition of Subsidiary -- 6,117 Net cash used in investing activities (121,695) 6,117
Cash flows from financing activities Due to related parties (61,651) -- Loan payable 274,429 -- Issuance of shares for cash -- 400,000 Proceeds from (payments to) related parties-net -- (133,597) Net cash provided by (used in) financing activities 212,778 266,403
Effect of exchange rate changes on cash and cash equivalents (7,669) (57,532)
Net increase (decrease) in cash (12,226) 12,260
Cash and cash equivalents at beginning of period 102,085 4,907
Cash and cash equivalents at end of period $89,859 $17,167
DATASOURCE: Hartcourt Companies, Inc
CONTACT: Hartcourt Companies, Inc., Ms. Amanda Zhang, Vice President,
+86-21-5208-0268, or KingWeet International Ltd. | AMS, Ms
Chris Chang, President, +1-800-852-0954,
10 Q
http://ih.advfn.com/p.php?pid=nmona&cb=1263926508&article=41170331&symbol=NB%5EHRCT
@ Rattle/Franz: Ihr sollt nicht die ganze Zeit bei der Konkurrenz rumlungern...lol.
Gustav
ich liebe solche Treppen beim Tageschart!!! HRCT bringt mal wieder verspätet die Zahlen und der Kurs steigt relativ extrem...! Weiter so, HRCT!!
Gustav
Thanks. Because the quote on investorshub says unchanged with 0 volume...!
Gustav
Tin: Where do you see these quotes??
Gustav
01/03/2010 New Year’s Letter To Shareholders From Hartcourt Companies,Inc.
New Year’s Letter To Shareholders From Hartcourt Companies, Inc.
Dear Fellow Shareholders,
First of all, we wish you a very happy New Year and thank you for your support in the past year.
Brief summary of our performance in 2009
In the year of 2009, Hartcourt focused on the growing Chinese vocational and education market. Hartcourt currently has two viable operations Beijing Yan Yuan and China Arts and Science Academy. However, the Company has been facing up with the challenges brought by the impact of the international financial crisis and the revenue and profitability generated by Beijing Yanyuan and China Arts and Science Academy are limited. It should come as no surprise that 2009 was, by far, the slow year our company has seen. Like most businesses, our business development suffered as a result of the international economic downturn. Therefore, the Company’s management is looking for higher profit margin with faster growth and more education business opportunities and is looking forward to a merger and acquisition with Sino-Canada Investment Group Inc. which focuses on diploma and curriculum education sector categorized as a fast growing business sector with higher profitability in China.
Despite of the continuous efforts the Hartcourt management has made, the stock price is going down continually due to the financial crisis. We want to tell all the investors that slip in stock price does not truly reflect our business and we believe that the fall must be temporary and hope that you all will have a strong confidence on Hartcourt as long as you focus on our immanent value.
About the reverse take-over transaction
We signed the definitive agreement with Sino-Canada Investment Inc. on August 20, 2009 to enter into a reverse take-over acquisition with Sino-Canada. We filed the Preliminary Proxy Statement on Schedule 14A on November 12, 2009, and received SEC first round comments in December 2009. We are currently preparing the response letter to SEC comments and will file amendment of preliminary Proxy Statement on Schedule 14A with SEC very soon.
We hope that you will send your comments and feedback to us. Your supports and feedbacks are very important to us.
We look forward to what we can accomplish in 2010. Thank you all for your support and dedication.
,
Hartcourt Management Team
About Hartcourt
Hartcourt Company Inc. is an educational services provider in China focusing on professional education. Hartcourt offers a wide range of educational programs and products, primary and secondary school education, development and distance educational content, software and other technology, and online education. Hartcourt achievements and operations can be found on its website: http://www.hartcourt.com.
FORWARD LOOKING STATEMENTS
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
Contact:
Ms. Amanda Zhang
IR@hartcourt.com
01/03/2010 New Year’s Letter To Shareholders From Hartcourt Companies,Inc.
New Year’s Letter To Shareholders From Hartcourt Companies, Inc.
Dear Fellow Shareholders,
First of all, we wish you a very happy New Year and thank you for your support in the past year.
Brief summary of our performance in 2009
In the year of 2009, Hartcourt focused on the growing Chinese vocational and education market. Hartcourt currently has two viable operations Beijing Yan Yuan and China Arts and Science Academy. However, the Company has been facing up with the challenges brought by the impact of the international financial crisis and the revenue and profitability generated by Beijing Yanyuan and China Arts and Science Academy are limited. It should come as no surprise that 2009 was, by far, the slow year our company has seen. Like most businesses, our business development suffered as a result of the international economic downturn. Therefore, the Company’s management is looking for higher profit margin with faster growth and more education business opportunities and is looking forward to a merger and acquisition with Sino-Canada Investment Group Inc. which focuses on diploma and curriculum education sector categorized as a fast growing business sector with higher profitability in China.
Despite of the continuous efforts the Hartcourt management has made, the stock price is going down continually due to the financial crisis. We want to tell all the investors that slip in stock price does not truly reflect our business and we believe that the fall must be temporary and hope that you all will have a strong confidence on Hartcourt as long as you focus on our immanent value.
About the reverse take-over transaction
We signed the definitive agreement with Sino-Canada Investment Inc. on August 20, 2009 to enter into a reverse take-over acquisition with Sino-Canada. We filed the Preliminary Proxy Statement on Schedule 14A on November 12, 2009, and received SEC first round comments in December 2009. We are currently preparing the response letter to SEC comments and will file amendment of preliminary Proxy Statement on Schedule 14A with SEC very soon.
We hope that you will send your comments and feedback to us. Your supports and feedbacks are very important to us.
We look forward to what we can accomplish in 2010. Thank you all for your support and dedication.
,
Hartcourt Management Team
About Hartcourt
Hartcourt Company Inc. is an educational services provider in China focusing on professional education. Hartcourt offers a wide range of educational programs and products, primary and secondary school education, development and distance educational content, software and other technology, and online education. Hartcourt achievements and operations can be found on its website: http://www.hartcourt.com.
FORWARD LOOKING STATEMENTS
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
Contact:
Ms. Amanda Zhang
IR@hartcourt.com
@ Rattle, Franz: Habt Ihr nicht beide heute Geburtstag??? Auf jeden Fall alles Gute zum Geburtstag und guten Rutsch!!
Gustav
Ich wünsche ebenfalls allen ein frohes, besinnliches und schönes Weihnachtsfest und alles Gute für 2010! An erster Stelle steht natürlich die Gesundheit, dicht gefolgt von dem Merger mit Sino bis spätestens Mai 2010...
Gustav
@ CE: Zum Glück ist das ja auch ein Langfristinvestment und kein spekulativer Schnellzock...!!!
...ja, aber so schnelle - 40 % zwischendurch sind nichts für mein Herz. Ich habe auch die Befürchtung, dass wir immer weiter absacken bis zum Merger und ich hatte eigentlich gehofft, eine moderate Steigerung bis dahin zu verzeichnen. Mit Pech warten wir ja noch bis Mai 2010 (wenn er dann hoffentlich kommt!!). Warum kommt denn nicht wenigstens ein wenig Phantasie auf?? Ich bin schon vollgestopft bis unters Dach und nicht mehr liquide...
Gustav
Ich hätte nicht gedacht, dass es HRCT tatsächlich schafft noch mal - 30 % am Tag hinzulegen...!!! Irgendwann ist man doch eigentlich im Keller angekommen, oder?
Ich weiß "patience is the key".....
Gustav (genervt)
Wenn man das Proxy genau studieren will, müßte man kurz vor Weihnachten durch sein...! Allerdings ist es schon mal positiv, dass der Merger anscheinend kommen wird. Da hatte ich schon meine Zweifel, da man ja auch nichts mehr von HRCT hört. Ansonsten hört es sich nach einer weiteren Verwässerung an, aber so wie jetzt kann und sollte es ja auch nicht weitergehen!
Es bleibt spannend!
Gustav