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Re: Tin-Berrygood post# 3632

Wednesday, 10/03/2001 12:12:29 AM

Wednesday, October 03, 2001 12:12:29 AM

Post# of 92667
Hi all, longtime since I've been looking into HRCT-- like the last time it was at 3/8ths, lol, seriously! Anyway, I know GTCI very well, have followed it for a number of years in it's journey. I recently took a small 25k position, just figured it bottomed out, and heard the talk that they were about to do a RM. I'll look into it more, with a few calls later this week or next. Anyway, HRCT looks like it's bottomed out too, so a position might warrant after some DD-- wonder what FG thinks now?

I get the sense after reading some posts from HRCT owners that they will own 80-90% of GTCI. Well, they've ~24M O/S, so, that would mean quite a few shares. A reverse split? Dunno, I will look to find out though. Terry Wong is basically it as far as GTCI goes, but there is Shenzen Global, which is driven by the original Chinese investors(who are very well connected in the PRC-- so is Wong himself). Regent Luck Holdings is very exclusive. Terry has went through a couple of different CEO's, Brandenburg being the latest(founder of LCI Communications-- bought out by Qwest).... but for some reason, he was unable to develop the American-Chinese business relation/development of well laid plans into action. So, I'm glad to see that Wong is partnering with a Chin-based company. He's always had the essential contacts, just was not good at execution-- or hiring the right folks to see it through. Brandenburg and Wong did work out the AT & T JV with their Shenzen division, and it's was to be used for IP, but I'm not sure of the status.

Details of the transaction will be disclosed in Form 8K to be filed shortly.

So, we are waiting on the details...

Last week Hartcourt announced plans to divest its subsidiary ElephantTalk through Staruni and will continue its divestiture strategy with subsidiary AI-Asia to enter the public markets during Q4. The E-education division will stay within Hartcourt. In 2002, Hartcourt shareholders will have major equity stakes in four operating companies trading on multiple world exchanges.

This sounds like majority ownership to me. It may be that they work out a share agreement similar to the one recently done with XNET, who RM'ed a HK company, with initial shares, and a further majority position based upon future revenue forecast's being met. Sinobull does look great, and like I said, I'll probably play it both ways.

Dr. Alan Phan, Chairman of Hartcourt, said, "Today Hartcourt has achieved the second step in fulfilling its promise to maximize the value of its assets for investors. In addition to providing Sinobull an excellent entry point to the public markets, GTCI also possess a number of ventures and licenses within China for Sinobull to develop. GTCI owns and operates an E-mail platform which has 200,000 active members. We plan to bring in Sinobull 's brand name and other market relationships to fully utilize this customers base.

I think the names is something tangible, but that GTCI's licenses and JV's are more valuable. Their Shenzen JV is with CT, and this was originally the PRC's way of spinning off the publicly owned assets into a privately owned operation(Regent Luck's 3 dominant shareholders are involved with this). Also, they have licenses in Global Position Satellite tracking systems, which is mostly currently used their for maritime, but holds promise in the trucking industry as well. I think there are Smart Cards licenses as well if I remember correctly. And there is the VOIP that I mentioned above, with AT & T as a JV partner at one point. I'm not sure about the current status of any of these licenses, but the Chinese tend to think in the LT, so they make deals (especially with the PRC) that tend to last for quite a while.

Anyway, I think it's a great fit, and hope to heaven to prosper in this hellish market for going long. We wait for the details...

imho, Jerome

imho, Jerome

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