Hartcourt Companies (fka HRCT)

[olddog2000]

I guess you are busy, Dr. Lorrie, so let me try:
We bought Hua Qing with 16 Million shares at 12 cent or 1.9 Million USD; NewHuaSun with 12 Million shares at 20 cents or 2.4 Million USD; Gue Wei with 10 Million shares at 25 cents or 2.5 Million. Altogether, we paid $6.8 Million for these 3 companies. I did not count the latest one as it was not incorporated into our financial statements yet. The share price has apprecaited since then; but you could not fault HRCT or these sellers about some unknown factor.
We spent $6.8 Million and our market cap went from $5 Million to about $75 Million. Damn, if I didn't put down the numbers, the attacks would make me think these acquisitions suck.
From another angle, these 3 acquisitions brought us about $140 Million in sales and $2.2 Million in net profit (from last year figure). 50 percent of this profit is $1.1 to our coffer. We bought these companies at a P/E ratio of 6 and P/S ratio of minus (20).
I haven't seen any public companies, big or small, get that kind of deals EVER.
That's why it's so easy to be a critic.