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Franz Beckenbauer II

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Franz Beckenbauer II

Re: Franz Beckenbauer II post# 17152

Wednesday, 08/02/2006 2:05:44 AM

Wednesday, August 02, 2006 2:05:44 AM

Post# of 24590
Von MJ:

Dr. Wang and Dr. Hu stated at the NYC meeting that the following problems were the downfall of Hartcourt in the past:

1. No real business focus

2. Lacked people with expertise to carry out business

3. Failure to understand the local culture

4. Historical problems - old deals, SEC, 2003 filing

5. Lack of corporate governance/poor management of day to day operations





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