Hartcourt Companies (fka HRCT)

[SinoKnowledge]

TFN,

It is not as awful as I thought after my first read. The trick to understanding SEC documents is to print them and read them in the quiet. The subleties are often overlooked. For example, if you read the SinoBull section you would think HRCT doesn't own anything. Not true at all and fengshui88 had it right last night (anyone ever met him?) There is "SinoBull" which is a holding compnay that will own the shares of each of the companies. This entity has no assets and one share issued and outstanding. HRCT has made individual deals with each of the compnies that make un the "SinoBull Group". These are individual companies combined in a "Group" and that is currently an informal relationship. HRCT does own each of the companies, they have not been folded into the entity of "SinoBull" at this time. That is merely going to be a paper transaction to house the companies under one roof. The house is built the companies have not moved in yet.

How's that for a start?