Hartcourt Companies (fka HRCT)

[Investorman]

The Hartcourt Foundation is still a viable entity. For obvious reasons it is not desirable at this time to fund it with Dr. Phan's stock since the foundation would have to sell stock for funding and at this price that wouldn't make sense. It would also have a negative impact on the stock price and I don't think anyone would want that at this point. The foundation members have not changed. HRCT doesn't have to wait until Aug 15th to file the 10Q but it takes time to prepare one especially since more of the revenue from the Chinese subsidiaries will be included. Most corporations (big or small) file the 10Q at 90 day intervals whether they are ready before then or not just to provide regular continuity.