Replies to post #71972 on Hartcourt Companies (fka HRCT)

[Mocha Jet]

Dr. Wang and Dr. Hu stated at the NYC meeting that the following problems were the downfall of Hartcourt in the past:

1. No real business focus

2. Lacked people with expertise to carry out business

3. Failure to understand the local culture

4. Historical problems - old deals, SEC, 2003 filing

5. Lack of corporate governance/poor management of day to day operations