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@ Franz, Rattle oder wer möchte:
1. Was denkt ihr über den Aktiensplit? Eigentlich hatte ich die Hoffnung, dass man einen oder mehrere Investoren findet, die die weiteren Übernahmen finanzieren, so dass keine weiteren Aktien auf den Markt geschmissen werden. Oder ist diese Lösung eine Art Kompromiss, dass man wieder einige Übernahmen mit Aktien bezahlen kann, sich aber trotzdem einen Investor (hoffentlich) ins Boot holt bzw. holen muss, da die neuen Aktien auch irgendwann verbraten sind!?
2. Warum posten sie denn fast zweimal die gleichen "periodical highlights" innerhalb einiger Monate? Warum erklären oder erläutern sie in dem Zusammenhang denn nicht den reverse split?? Wo sie wirklich in Zukunft den shareholder value sehen?
3. Müßten sie denn nicht für das (den?) Proxy mehr die Werbetrommel rühren, damit die Aktionäre dem zustimmen?
4. Von der angekündigten aggressiven Übernahmepolitik ist dieses Jahr noch nicht viel zu sehen. Wann glaubt ihr, kann da wieder Bewegung reinkommen? Wahrscheinlich erst nach dem SHM!?
5. Was hat dieser ominöse 100.000 Aktien Verkauf täglich um 15.30 h MEZ zu sagen?
Ich weiß, Fragen über Fragen...!
Gruss, Gustav
@ Franz:
Gustav
@ iqiq: Naja, heute sind sie bei minimalem Volumen um 26 % gestiegen...!! Das ist aber alles für die Katz, wir brauchen eine weitere Übernahme, die möglichst ohne Aktien bezahlt wird und irgendwann haben wir dann auch beim Handelsvolumen steigende Tendenz!! Allerdings hoffe ich auch, dass irgendwann Anfang 2009 heißt...
Gustav
@ iqiq: Es stehen erst am 15.4.2009 wieder Quartalszahlen an: Allerdings habe ich schon die Hoffnung, dass vorher noch eine weitere Übernahme über die Bühne geht! Sie haben bis jetzt alles eingehalten, was sie angekündigt haben und da sie eine "aggressivere" Übernahmepolitik in Aussicht gestellt haben...
Hätte ich auch verdient, immerhin habe ich im Juni mein 10-jähriges HRCT Jubiläum....
Gustav
@ CE: Die "besten Beiträge" heißt für mich, dass sie die Chancen und Risiken erläutern. Ich bin genauso wie die beiden investiert und mich interessiert das nögliche Kurspotential der Aktie. Wäre ich nicht mehr von der Aktie überzeugt, würde ich verkaufen und mir ein anderes Spielzeug suchen. Rattle und Franz sind postiv eingestellt, erwähnen aber trotzdem regelmäßig die Risiken (Vergangenheit von HRCT, nicht eingehaltene Versprechen und die hohe Anzahl der Aktien). Für mich sehen die beiden nicht alles durch die rosarote Brille. Natürlich hoffe ich auch auf die große Wende und kritische Töne sind sicherlich auch angebracht. Aber ich gebe durch den Einstieg ins education-business HRCT noch einmal eine reelle Chance und verurteile sie nicht andauernd wegen ihrer Vergangenheit!
Gruss, Gustav
Das schlimmste an der Sache ist doch, dass Rattle und Franz jetzt keine Lust mehr haben hier zu posten! Die beiden haben immer die besten Beiträge geliefert und sind durch die Negativfraktion vergrault worden. Ich hoffe zwar, dass sie wieder erscheinen, wenn HRCT eine Nachricht bringt, aber so ist dieses Board kein Informationsboard mehr, sondern nur noch ein Sammelplatz irgendwelcher Eitelkeiten. Kritische Töne sind erlaubt, aber immer nur in der Vergangenheit zu wühlen, ist einfach arm!
Verstehen kann ich Rattle und Franz!!
Übrigens glaube ich, dass sie bald wieder hier im Board auftauchen...! Das chinesische Neujahrsfest ist beendet und die newsarme Zeit hoffentlich damit auch vorbei!!!
Gustav
@ CE: Diese Woche mit Sicherheit nicht, da sich das chinesische Neujahrsfest noch bis zum 7.2. zieht. Aber wenn das Jahr des Ochsen erstmal gestartet ist, hoffe ich schon im Februar noch auf eine weitere Übernahme seitens HRCT. Vielleicht lernt der Kurs dann ja laufen...
Gustav
@ McC: Ich halte das neue Management für ziemlich seriös und zuverlässig. Sie halten pünktlich ohne delay ihre Quartalsberichte ein, kommunizieren ausreichend mit ihren Aktionären, liegen mit ihren angekündigten Übernahmen voll im Fahrplan und das Wichtigste: Bis jetzt unterteiben sie eher als unglaublich zu Pushen. Sie haben angekündigt, dass die prognostizierten Umsätze der beiden Beteiligungen übertroffen werden, was sie ebenfalls eingehalten haben. Daher vertraue ich dem Management. Wenn sie jetzt ankündigen, dass die nächsten Quartalszahlen besser werden (und nicht die befürchteten Schwankungen haben), glaube ich ihnen (kann man ja auch spätestens in 3 Monaten kontrollieren). Daher halte ich die Ankündigung über Gespräche mit potentiellen Investoren für gar nicht so abwägig.
Wie Tin jetzt schreiben würde jmho...
Gustav
Periodical Highlight Summary
Dear Fellow Shareholders:
We provide an update on business activities at the Company, both completed and in progress, which we expect will make our business goal of becoming an Educational Group with substantial profits, a successful reality.
We enclose a summary of our recent strategic initiatives and highlights of our achievements during the past 232 days. We believe each of these accomplishments will position Hartcourt for success this year and beyond.
On July 23, 2008, Hartcourt closed the acquisition of Beijing Yanyuan, which was a subsidiary of Hartcourt from July 24, 2008. We completed the first step in restructuring Hartcourt to enter into the education/training market in China.
On September 2, 2008, Hartcourt released a practical business plan, with the strategic vision to be a for profit leading provider of education and training services in The People's Republic of China.
On October 31, 2008, Hartcourt closed the acquisition of China Arts and Science Academy, which was a subsidiary of Hartcourt from November 1, 2008. We completed another important step in restructuring Hartcourt to become a leading provider of educational services in China. Vocational education services are one of the cornerstones of Hartcourt’s educational service strategy. We see this successful acquisition as a further important step in implementing our business plan and toward Hartcourt becoming a leading provider of vocational education.
On October 15, 2008, Hartcourt filed 10Q for the first quarter of fiscal 2009 with revenues, which represented Hartcourt thoroughly turned around from a shell company without revenues, which marked the continuation of our ability to deliver solid earnings growth in the future.
Our two profitable subsidiaries, Beijing Yanyuan and China Arts & Science Academy, all finished their profits commitment successfully, which are above the expectation, in spite of the global financial crisis, the global economic slowdown or the economic slowdown in China. We believe this is because of the paramount priority that Chinese families place on the education of their child or children. Food, housing and education are the top three categories for disposable income in China, and spending on education is one of the last areas to be affected by shrinking consumption.
On January 14, 2009, Hartcourt filed 10Q for the second quarter of fiscal 2009 with profits. That showed we thoroughly turned around from the past and that also marked our continual ability to deliver solid earnings growth in the future.
We hereby make a summary of Net loss for the past 11 years.
Net loss for the fiscal year 1998 was $ 21,295,653, Net loss for the fiscal year 1999 was $ 7,862,468, Net loss for the fiscal year 2000 was $ 6,790,879, Net loss for the fiscal year 2001 was $ 5,329,408, Net loss for the fiscal year 2002 was $ 2,559,409, Net loss for the fiscal year 2003 was $ 758,480, Net loss for the fiscal year 2004 was $ 15,452,296, Net loss for the fiscal year 2005 was $ 13,796,151, Net loss for the fiscal year 2006 was $ 2,834,960, Net loss for the fiscal year 2007 was $ 3,786,441, Net loss for the fiscal year 2008 was $ 1,973,477.
Revenues were $643,996 for the three months ended November 30, 2008 compared to zero for the same period in 2007. Net income from continuing operations for the three months ended November 30, 2008 was $274,633, compared to loss of $900,657 for the same period in 2007. As shown in our accompanying financial statements, we had a Net income of $251,571 for the six months ended November 30, 2008, as compared to a net loss of $1,146,873 for the same period in 2007.
The profits of the whole quarter (3 months) for Beijing yanyuan, and profits of 1 month for China Arts and Science Academy have been consolidated in the second quarter of fiscal year 2009; the relevant financial report of Q2 has been improved substantially. We are delighted with the financial performance in our all-important fiscal quarter in the face of formidable challenges.
Beijing yanyuan and China Arts and Science Academy have a good brand and solid reputation in the education business, which has brought them wide steady student resources. The unique brand and steady earning resources consist of the goodwill, which will bring Hartcourt continual earning growth in the future. The goodwill is not amortized, only is tested for impairment annually, which will have no negative effect for profits in the future.
The profits for the whole quarter (3 months) for Beijing yanyuan, and profits for the whole quarter (3 months) for China Arts and Science Academy will be consolidated in the third Quarter; the relevant financial report of Q3 will be improved substantially. We look forward to the profitable fiscal year 2009, which has never happened during the past 11 years.
The finished two successful acquisitions, which proved to be very profitable, were parts of our long-term strategy to gain a solid footing in China education field, with the foundation built, the further acquisitions will speed up.
Based on our great achievements during the past 232 days, several Chinese investors have will to loan fund to Hartcourt for further acquisitions using more cash, which is under negotiation now.
This latest financing gives us more confidence in our outlook for earnings growth and for continued growth in shareholder value.
Building upon our accomplishments in the past several months, we are eager to demonstrate additional progress in the near future. We expect to acquire more education subsidiaries that are profitable in the coming years. We dedicated to growing the shareholder value. We will continually search for ways to expand our horizons in the education markets in which we can create substantial value.
With the major hindrance behind us and aggressive restructuring and acquisitions under way, we believe Hartcourt can lead the way in delivering exceptional growth, value and opportunity to our shareholders in Fiscal 2009 and beyond.
Best Regards
Victor Zhou
Chief Executive Officer
@ CE: Also wenn sie ankündigen, dass die Zahlen positiv überraschen werden, würde ich mind. eine schwarze Null erwarten, wohl eher einen leichten Überschuß. Wieviele OTCBB-Werte weisen denn überhaupt einen Quartalsgewinn aus?? Da an der Börse die Zukunft gehandelt wird, hätte ich schon mit einigen Insidern gerechnet, die etwas Volumen in den Kurs bringen und damit auch steigen lassen.
Gustav
Ich muss gestehen, dass ich eigentlich mit einem etwas anderen Verlauf gestern gerechnet hatte...!! Wenn die Zahlen positiv überraschen und bis jetzt auch immer pünktlich abgeliefert worden sind, könnte der Kurs 2-3 Tage vorher doch eher anziehen als abzubröckeln...!!??
Gustav
Ja, das ist wirklich schräge. Oder der Bursche hat vergessen ein limit anzugeben...!
Gustav
Welches Glückshäschen hat denn heute morgen 80 k für 0,011 in Frankfurt bekommen??? Weit, weit unter Parität, nicht schlecht!!!
Gustav
@ asia: Vergiss nicht in einem Jahr wieder den Chart zu posten! Gestern bei über 750.000 gehandelten Aktien gut 13 % rauf. Ich bin gespannt wie die ersten paar Monate im Jahre 2009 verlaufen.
Gustav
@ Franz, Rattle: Euch beiden wünsche ich alles Gute zum Geburtstag!! Wir sagen es zwar jedes Jahr wieder, aber dieses Mal glaube ich fest dran: Neben Gesundheit für Euch und Euren Familien wünsche ich viel Glück mit unserem gemeinsamen Baby hier!! Konnte gestern auch noch mal 60 k abgreifen, die Zahlen können also kommen!!
@ Alle: Guten Rutsch und alles Gute für 2009
Gustav
Ich wünsche allen Lesern ein frohes, schönes und besinnliches Weihnachtsfest und einen guten Rutsch in ein neues, gesundes und hoffentlich erfolgreiches Jahr 2009. Der shareholder letter hat hoffentlich einen kleinen Vorgeschmack auf das gegeben, was uns ab Januar erwartet...!!
Gustav
12/22/2008 Shareholder letter from Hartcourt Company Inc.
Shareholder letter from Hartcourt Company Inc.
Dear Fellow Shareholders:
We hope this letter provides an update on business activities at the Company, both completed and in progress, which we expect will make our business goal of becoming an Educational Group with substantial profits, a successful reality.
We enclose a summary of our recent strategic initiatives and highlights of our achievements during the past six months. We believe each of these accomplishments will position Hartcourt for success this year and beyond.
On July 23, 2008, Hartcourt closed the acquisition of Beijing Yanyuan, which was a subsidiary of Hartcourt from July 24, 2008. We completed the first step in restructuring Hartcourt to enter into the education/training market in China.
On September 2, 2008, Hartcourt released a practical business plan, with the strategic vision to be a for profit leading provider of education and training services in The People's Republic of China.
On October 31, 2008, Hartcourt closed the acquisition of China Arts and Science Academy, which was a subsidiary of Hartcourt from November 1, 2008. We completed another important step in restructuring Hartcourt to become a leading provider of educational services in China. Vocational education services are one of the cornerstones of Hartcourt’s educational service strategy. We see this successful acquisition as a further important step in implementing our business plan and toward Hartcourt becoming a leading provider of vocational education.
On October 15, 2008, Hartcourt filed 10Q for the first quarter of fiscal 2009 with revenues, which represented Hartcourt thoroughly turned around from a shell company without revenues, which marked the continuation of our ability to deliver solid earnings growth in the future.
Our two profitable subsidiaries, Beijing Yanyuan and China Arts & Science Academy, all finished their profits commitment successfully, which are above the expectation, in spite of the global financial crisis, the global economic slowdown or the economic slowdown in China. We believe this is because of the paramount priority that Chinese families place on the education of their child or children. Food, housing and education are the top three categories for disposable income in China, and spending on education is one of the last areas to be affected by shrinking consumption.
The profits of the whole quarter (3 months) for Beijing yanyuan, and profits of 1 month for China Arts and Science Academy have been consolidated in the second Quarter, the relevant financial report of Q2 has been improved substantially. We are delighted with the financial performance in our all-important fiscal quarter in the face of formidable challenges.
The finished two successful acquisitions, which proved to be very profitable, were parts of our long-term strategy to gain a solid footing in China education field, with the foundation built, the further acquisitions will speed up.
This latest financing gives us more confidence in our outlook for earnings growth and for continued growth in shareholder value.
Building upon our accomplishments in the past several months, we are eager to demonstrate additional progress in the near future. We expect to acquire more education subsidiaries that are profitable in the coming years. We dedicated to growing the shareholder value. We will continually search for ways to expand our horizons in the education markets in which we can create substantial value.
The company has made significant and substantial progress since June 1 2008. We are committed to the ultimate success and profitability of the company and believe that the company is in the best overall condition than it has ever been. We look forward to a dynamic year in 2009.
With the major hindrance behind us and aggressive restructuring and acquisitions under way, we believe Hartcourt can lead the way in delivering exceptional growth, value and opportunity to our shareholders in Fiscal 2009 and beyond.
In closing, we would like to thank those dedicated investors who have maintained their loyalty and offered words of encouragement along the way.
Merry Christmas and Happy New Year!
Best Regards
Victor Zhou
Chief Executive Officer
@ Asia: Aber dir ist schon bewußt, dass Rattle ein Aktionär ist und nicht im Vorstand der Firma sitzt!??
Gustav
Schenkt mal das Jahr nicht zu früh ab!! Ich hoffe schon, dass HRCT VOR den Quartalszahlen uns noch mit einer Übernahme überraschen wird!! Heute ist schon mal ein kleiner Vorgeschmack...
Gustav
Ruhig Brauner, geht schon wieder Retour! Aber dieser massive Einbruch sieht schon übel aus! Bin mal gespannt, wie wir heute enden!!
Gustav
@ Rattle: Du bist doch schon vollgestopft wie ein Kieslaster, nun laß das Papier ruhig mal los krabbeln...!!
Gustav
ich glaube, wir wären erst einmal zufrieden, wenn der Kurs über 9 cent liegen würde...
Gustav
Die Geschichte mit dem "falling knife" habe ich in irgendeinem anderen Zusammenhang schon mal gehört....!
Wir sollten es positiv sehen: Der starke Dollar bzw. schwächelnde Euro ist auf unserer Seite...!
Gustav
Form 8-K for HARTCOURT COMPANIES INC
--------------------------------------------------------------------------------
22-Oct-2008
Entry into a Material Definitive Agreement, Regulation FD Disclosure, Fin
Item 1.01 Entry Into a Material Definitive Agreement
On October 18, 2008, The Hartcourt Companies, Inc. (the "Company") entered into a definitive agreement to purchase 60% of the outstanding equity interests of China E & I Development Co. Ltd. (China Arts and Science Academy) for approximately RMB 14 Million (US$2 Million), payable in 40 million restricted common shares of Hartcourt.
Under the terms of the definitive agreement executed between China Arts and Science Academy and Hartcourt, China Arts and Science Academy committed that its net profit would exceed RMB5 million (US$735,294) for the first year in which its results are consolidated with Hartcourt's, RMB7.5 million (US$1.103 million) for the second year in which its results are consolidated with Hartcourt's, and RMB10 million (US$1.471 million) for the third year in which its results are consolidated with Hartcourt's. The restricted common shares issued by Hartcourt for the acquisition will be released to those shareholders of China Arts and Science Academy whose equity interests were purchased by Hartcourt in three installments based on the profit realized by China Arts and Science Academy over the three-year period beginning on the date of Hartcourt's purchase of 60% of the outstanding equity interests of China Arts and Science Academy. If the profit realized by China Arts and Science Academy in any of the three one-year periods is less than the profit target committed to by China Arts and Science Academy for such one-year period, then the number of shares issuable by the Company is subject to reduction. The closing of the transaction is subject to customary closing conditions, including obtaining the approval of the government.
Item 7.01 Regulation FD Disclosure.
On October 20, 2008 the Company issued a press release announcing the Company's entry into a definitive agreement to acquire a controlling equity interest in China E & I Development Co. Ltd.(China Arts and Science Academy). A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein. In accordance with General Instruction B.2 of Form 8-K, Exhibits 99.1 hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.
Exhibits
99.1. Press release dated October 20, 2008 announcing the Company's entry into definitive agreement with China E & I Development Co. Ltd. (China Arts and Science Academy).
0,025 x 0,03 $. Da muß doch heute was gehen...!!?
Gustav
NEWS!!!!!!!!!!!
Hartcourt Acquires China E & I Development Co. Ltd. (China Arts and Science Academy), a leading Provider of Online Education in
Date : 10/20/2008 @ 5:29AM
Source : PR Newswire
Stock : (HRCT)
Quote : 0.021 -0.003 (-12.50%) @ 3:49PM
Hartcourt Acquires China E & I Development Co. Ltd. (China Arts and Science Academy), a leading Provider of Online Education in
SHANGHAI, China, Oct. 20 /Xinhua-PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009) ("Hartcourt") a provider of educational services in China, today announced that it has signed a definitive agreement to purchase 60% of the outstanding equity interests of China E & I Development Co. Ltd. (China Arts and Science Academy) for approximately RMB14 million (US$2 Million), payable in 40 million restricted common shares of Hartcourt.
Under the terms of the definitive agreement executed between China Arts and Science Academy and Hartcourt, China Arts and Science Academy committed that its net profit would exceed RMB5 million (US$735,294) for the first year in which its results are consolidated with Hartcourt's, RMB7.5 million (US$1.103 million) for the second year in which its results are consolidated with Hartcourt's, and RMB10 million (US$1.471 million) for the third year in which its results are consolidated with Hartcourt's. The restricted common shares issued by Hartcourt for the acquisition will be released to those shareholders of China Arts and Science Academy whose equity interests were purchased by Hartcourt in three installments based on the profit realized by China Arts and Science Academy over the three-year period beginning on the date of Hartcourt's purchase of 60% of the outstanding equity interests of China Arts and Science Academy.
China Arts and Science Academy is a leading provider of online education in China focusing on vocational education. The courses offered by China Arts and Science Academy through its websites are designed to help professionals and other course participants obtain and maintain the skills and certifications necessary to pursue careers in China in the areas of accounting, law, business administration, marketing, HR, international trade, business English, computer application, information technology and other industries. Course participants are able to access the courses through the Internet at times and places most convenient for them, and to easily interact with a broad online community of course participants, professionals, lecturers and tutors. Qualified course participants have the option of pursuing a 2-year or 4-year diploma at China Arts and Science Academy.
China Arts and Science Academy has established close cooperative relationships with domestic and international certification authorities such as the State Ministry of Personnel, the Skills Identification and Guidance Center of the State Ministry of Information Industry, the China Professional Managers Evaluation Center, the International Federation of E-commerce Engineers, and the China Ministry of Education.
China Arts and Science Academy has been honored "The Most Influential Brand of China Online Education" by the National Industry Leading Brand Selection Committee.
More details on China Arts and Science Academy can be obtained from the following Web site: http://www.casc-edu.org.cn/ .
Mr. Victor Zhou, CEO of Hartcourt, stated, "We are happy to announce the acquisition of China Arts and Science Academy, which we believe will be another important component of our plan to become a leading provider of educational services in China. Vocational education services are one of the cornerstones of Hartcourt's educational service strategy. We see this acquisition as a further important step in implementing our business plan and toward Hartcourt becoming a leading provider of vocational education. We believe that our focus and persistence have paid off in recent improvements in our financial results. "
Mr. Xin Chen, President of China Arts and Science Academy, added, "We believe the synergies derived from the combination of China Arts and Science Academy and Hartcourt will provide us opportunities for additional growth in the future. Now that we are part of the Hartcourt education network, we shall work closely with other Hartcourt subsidiaries to improve Hartcourt's revenues, market coverage and overall competitiveness."
About Hartcourt
Hartcourt's achievements and operations can be found on its web site: 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.
For more information, please contact:
Ms Mary Qi Tel: +86-21-5111-3716 Fax: +86-21-5111-3719 Email:
DATASOURCE: The Hartcourt Companies, Inc.
CONTACT: Ms Mary Qi of The Hartcourt Companies, Inc., +86-21-5111-3716,
or fax, +86-21-5111-3719, or
Web Site: http://www.hartcourt.com/
http://www.casc-edu.org.cn/
NEWS!!!!!!!!!!!!!
Hartcourt Acquires China E & I Development Co. Ltd. (China Arts and Science Academy), a leading Provider of Online Education in
Date : 10/20/2008 @ 5:29AM
Source : PR Newswire
Stock : (HRCT)
Quote : 0.021 -0.003 (-12.50%) @ 3:49PM
Hartcourt Acquires China E & I Development Co. Ltd. (China Arts and Science Academy), a leading Provider of Online Education in
SHANGHAI, China, Oct. 20 /Xinhua-PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009) ("Hartcourt") a provider of educational services in China, today announced that it has signed a definitive agreement to purchase 60% of the outstanding equity interests of China E & I Development Co. Ltd. (China Arts and Science Academy) for approximately RMB14 million (US$2 Million), payable in 40 million restricted common shares of Hartcourt.
Under the terms of the definitive agreement executed between China Arts and Science Academy and Hartcourt, China Arts and Science Academy committed that its net profit would exceed RMB5 million (US$735,294) for the first year in which its results are consolidated with Hartcourt's, RMB7.5 million (US$1.103 million) for the second year in which its results are consolidated with Hartcourt's, and RMB10 million (US$1.471 million) for the third year in which its results are consolidated with Hartcourt's. The restricted common shares issued by Hartcourt for the acquisition will be released to those shareholders of China Arts and Science Academy whose equity interests were purchased by Hartcourt in three installments based on the profit realized by China Arts and Science Academy over the three-year period beginning on the date of Hartcourt's purchase of 60% of the outstanding equity interests of China Arts and Science Academy.
China Arts and Science Academy is a leading provider of online education in China focusing on vocational education. The courses offered by China Arts and Science Academy through its websites are designed to help professionals and other course participants obtain and maintain the skills and certifications necessary to pursue careers in China in the areas of accounting, law, business administration, marketing, HR, international trade, business English, computer application, information technology and other industries. Course participants are able to access the courses through the Internet at times and places most convenient for them, and to easily interact with a broad online community of course participants, professionals, lecturers and tutors. Qualified course participants have the option of pursuing a 2-year or 4-year diploma at China Arts and Science Academy.
China Arts and Science Academy has established close cooperative relationships with domestic and international certification authorities such as the State Ministry of Personnel, the Skills Identification and Guidance Center of the State Ministry of Information Industry, the China Professional Managers Evaluation Center, the International Federation of E-commerce Engineers, and the China Ministry of Education.
China Arts and Science Academy has been honored "The Most Influential Brand of China Online Education" by the National Industry Leading Brand Selection Committee.
More details on China Arts and Science Academy can be obtained from the following Web site: http://www.casc-edu.org.cn/ .
Mr. Victor Zhou, CEO of Hartcourt, stated, "We are happy to announce the acquisition of China Arts and Science Academy, which we believe will be another important component of our plan to become a leading provider of educational services in China. Vocational education services are one of the cornerstones of Hartcourt's educational service strategy. We see this acquisition as a further important step in implementing our business plan and toward Hartcourt becoming a leading provider of vocational education. We believe that our focus and persistence have paid off in recent improvements in our financial results. "
Mr. Xin Chen, President of China Arts and Science Academy, added, "We believe the synergies derived from the combination of China Arts and Science Academy and Hartcourt will provide us opportunities for additional growth in the future. Now that we are part of the Hartcourt education network, we shall work closely with other Hartcourt subsidiaries to improve Hartcourt's revenues, market coverage and overall competitiveness."
About Hartcourt
Hartcourt's achievements and operations can be found on its web site: 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.
For more information, please contact:
Ms Mary Qi Tel: +86-21-5111-3716 Fax: +86-21-5111-3719 Email:
DATASOURCE: The Hartcourt Companies, Inc.
CONTACT: Ms Mary Qi of The Hartcourt Companies, Inc., +86-21-5111-3716,
or fax, +86-21-5111-3719, or
Web Site: http://www.hartcourt.com/
http://www.casc-edu.org.cn/
@ Franz: Löse mal bitte Rattles Rätsel auf! Er hat völlig Recht, ich lese das filing wirklich nicht...! Mein BWL Studium liegt auch schon ein paar Wochen zurück...
Gustav
@ Rattle: Da hast Du völlig Recht, jetzt laß aber doch auch mal die Katze wegen der anderen Sache aus dem Sack...
Gustav
@ Rattle: Dir macht die Schnitzeljagd mit uns auch recht viel spaß, oder...!?? Gib doch mal einen kleinen hint..
Gustav
@ CE: Man hat mit HRCT in den letzten Wochen bzw. Monaten deutlich mehr Geld verloren als am Gesamtmarkt! HRCT stand vor ein paar Monaten bei 6 Cent, jetzt unter 2 Cent. Da ist prozentual wohl deutlich mehr als die läppischen 40 % des Dax...! Nicht zu vergessen, von welchen Höchstständen HRCT kommt!
Trotzdem habe ich noch die Hoffnung, dass neben den Zahlen vielleicht noch eine weitere Übernahme verkündet wird, so dass endlich mal Phantasie in die Aktie kommt. Allerdings ist die Hoffnung inzwischen relativ gering...
Gustav
Dow hin oder her, ich finde die Entwicklung von HRCT sehr viel beunruhigender!!
Gustav
ich wäre schon zufrieden, wenn sie den Q-Bericht pünktlich am 15.10 bringen könnten und nicht wieder eine Verlängerung beantragen würden...! Oder ist das zu viel verlangt??
Gustav
Sehe ich das richtig, dass wir drüben gerade auf 0,02 runter gerauscht sind...??? Das ist ja wirklich shareholder value...
Gustav
6 Schulen in 2 Jahren und 12 Schulen in 4 Jahren hören sich aber nicht nach sehr aggressiver Übernahmepolitik an. Wobei ich für meinen Teil schon zufrieden wäre, wenn sie irgendwann mal ein MOU oder DA einhalten würden...!!
Gustav
@ Rattle: Woran erkennst Du das?
Gruß
Gustav
FORM NT 10-K for May31
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5861865
Komisch, so viel Arbeit war es doch eigentlich nicht, oder??
Schönes Wochenende,
Gustav
@ Rattle: Hast Du eigentlich versucht mit HRCT Kontakt aufzunehmen? Gehe mal davon aus, dass Du wahrscheinlich noch keine Antwort bekommen hast!? Diese "quiet periods" hasse ich schon seit Jahren...
Gustav
@ Rattle: Wahrscheinlich zuerst einmal, ob der Zhengda deal noch aktuell ist. Warum er sich so lange hinzieht. Weiterhin die Frage, was aus den MOU`s von vor einem Jahr geworden ist. Weiterhin würde natürlich auch die Frage der Finanzierung interessant sein. Ob sie weitere Aktien ausgeben wollen. Ob irgendwann ein reverse split sattfinden soll oder wird, um bestimmte Kriterien zu erfüllen. Und vielleicht eine Erklärung zu Eurer Theorie, dass man eine 3. Peron (mit den 65 Mio Aktien) ins Boot geholt hat, um die Mehrheitsverhältnisse einzuhalten.
Ich weiß, Frage über Fragen. Leider bin ich auch sicher, dass sie zu keiner Frage eine Antwort schreiben (dürfen)!!!
Wenn Du es versuchst, klasse!!!!! Viele Dank schon mal, Rattle
Gustav