The record date for the distribution is long past. It is not a dividend it is a distribution. The value of this distribution is unknown at this time. I suspect we could use the first day closing price of the shares, as they will be listed before we get them.
"The Hartcourt Companies, Inc. ("Hartcourt") plans to distribute to each record holder of Hartcourt common stock, $0.001 par value, as of the close of business on October 17, 2003 (the "Record Date"), .09232471 share of the $0.001 par value common stock of Financial Telecom Limited (USA), Inc. ("FTL" or the "Company"), for each share of Hartcourt common stock owned as of the close of business on the Record Date (the "Distribution"). Hartcourt is mailing this
information statement to you on or about ________, 2003 in order to provide you with certain information about FTL.
Hartcourt currently owns 15,100,000 shares of FTL's outstanding common stock, representing all of FTL's outstanding capital stock, and will effect the Distribution as of the close of business on _________, 2004 the "Distribution Date"). As a result, 100% of the outstanding shares of FTL common stock will be distributed to holders of Hartcourt common stock on a pro rata basis. Hartcourt shareholders will not be asked to give any consideration for receiving shares of FTL common stock. There is no current market for the FTL common stock. FTL is in the process of applying to have its common stock included on the OTC Bulletin Board. If its application is granted, trading is expected to commence during the first quarter of 2004. The Distribution is contingent upon the application for listing being approved."
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