Hartcourt Companies (fka HRCT)

[Investorman]

HBlodgett - I didn't start the "mute" (sic) or moot business. I think it was actually TENNISSTUD and OCErnie. I just continued it.

Your valuation formula is as good as any but an equally good case could be made for several others. The ETLK value could be considered to be just 51.8% of ETLK's marker cap (that would now have to be adjusted for the additional shares noted in the S-8) and then take the dollar value of that and divide it by the number of outstanding HRCT shares. The problem with this type of valuation method is that it changes from day to day and doesn't allow for future progess in revenues or earnings. ETLK (and HRCT's other subs) aren't stagnent so you are then back to estimating what will happen to revenues and earnings during the next quarter and the next year. Stock prices in ANY company always reflect what investors think will occur in the future. What the shares are really worth is whatever someone else is willing to pay if you put them up for sale. With a small OTC company, that can vary a lot from week to week.