Hartcourt Companies (fka HRCT)

[MrBankRoll]

Problem with that statement is.........

We have entered into a nonbinding Memorandum of Understanding (the “MOU”) and a definitive sale and purchase agreement to sell our 51% interest in Shanghai Huaqing Corporation Development Co., Ltd. The agreement is subject to the receipt of required third party consents and approvals if required by applicable law. The contemplated purchase price is US$528,419. In addition, a shareholder of Huaqing Shanghai will return 997,550 shares of our common stock to the individual or entity designated by us. This sale, if consummated, will complete our transition from the information technology distribution business to the business of operating vocational and technical educational schools