!!!! HOBBESCKS this might help you. It seems E-TRADE was just a little to ANXIOUS to have their clients sell their 144 shares of which they couldn't because they signed a little contract stating they wouldn't for another year.But it seems E-TRADE DECIDED THEY would SHORT HRCT on the notion of all those millions of restricted shares their clients MIGHT SELL INTO THE MARKET. IT'S ALL ABOUT THE INFO ONE HAS! So what we are seeing is SHORT COVERING.
Press Release Source: The Hartcourt Companies, Inc
Hartcourt Confirms Extension of Holding Period for 144 Shares
Tuesday March 2, 9:27 am ET
LOS ANGELES, CA--(MARKET WIRE)--Mar 2, 2004 -- The Hartcourt Companies, Inc. (OTC BB:HRCT.OB - News) (Frankfurt: 900009), www.hartcourt.com, announced today that major shareholders including Enlight Group and former Huaqing shareholders have confirmed that they will honor the agreement to extend the holding period of 55 million restricted shares for another year, as previously announced. Some HuaQing shareholders have filed Form 144 in errors and Hartcourt has not released the restriction on these shares.
"OOOOOOPS"
About Hartcourt
The Hartcourt Companies, Inc. is one of China's fastest growing companies in the IT distribution, retail and services sector. Hartcourt's growth strategy is to acquire controlling interests in profitable companies with proven management within this sector in key geographical areas of China. Recent acquisitions of Hartcourt included seven key IT distribution, retail and services companies covering all major regions of China that have highest GDP-per-capita. Detailed information on Hartcourt can be obtained from: www.hartcourt.com.
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