Hartcourt Companies (fka HRCT)

[MisterEC]

On the surface it looks like they sold their seat on the OTCBB.

Hartcourt will change its name upon closing to Maple China Education Incorporated.

Reincorporation

The definitive agreement contemplates that Hartcourt will reincorporate its state of jurisdiction from Utah to Delaware immediately prior to the closing of the Sino-Canada transaction, subject to the approval of the Hartcourt stockholders.

Reverse Stock Split

In addition, the definitive agreement contemplates that Hartcourt will effect a 1 for 80 reverse stock split in connection with the transaction, to take effect upon Hartcourt's reincorporation in Delaware as Maple China Education Incorporated immediately prior to the closing of the share exchange, subject to the approval of the Hartcourt stockholders.