Hartcourt Companies (fka HRCT)

[lugan]

Re:
"I do not care about the US share price" and "I cannot guarantee a share price of 50 cents in one year"

These were not Dr. Hu's exact words and the context of his statements is very important. He said that he could not guarantee a 50 cent share price, as that would not be legal. This discussion was part his explanation on structuring acquisitions. He went on to say that a 50 cent share price is not all that critical; that it is a goal to strive for in that it would make future acquisitions cheaper if the share value was higher. However if share value did not reach 50 cents by the end of the year, HRCT would just have to compensate by restructuring acquisition parameters.