!!!! I PICK MY SCENARIO, The transfer Agent WORKS for HRCT not E-TRADE or the NASDAQ, I guess in this day and age of THE HIGH REGARD FOR INTEGRITY in the market it's totally out of the question that maybe the shareholders were taken advantage of through the cultural and language barrier that surely exist between them , and saw an opportunity to make some serious money off of them? HRCT took the time and effort on behalf of it's shareholders to get 55 Mil restricted shares an extension of another year, which most likely took some shrewd business dealing on D.C.s part. NOW I'm gonna got out on a limb here and state that I think it highly unlikely this was done with out some form of written agreement and with all the time and effort put in to accomplish this, David was bright enough to notify it's Transfer Agent of the restriction extention.And HRCT is the one to have final say on lifting this resriction since they are the ones (Not the Transfer Agent) who is AUTHORIZED TO ISSUE THEM IN THE FIRST PLACE.FACT for this STATEMENT is HRCT is the one WHO NEGOTIATED THE DEALS WITH all the subs and it's their money (shares).The Transfer agent is given PERMISSION BY THE COMPANY (HRCT)to lift the restriction.The company also is the one to GIVE PERMISSION TO THE TRANSFER AGENT to issue the restricted shares in the first place. Which NEVER HAPPENED and thus the statement in the 2nd PR stating so. No lifted restriction NO SELLY INTO THE MARKET.
WHATS YOUR SOURCE FOR THIS STATEMENT? Did all 15 of them call you and tell you this?. Or you just HYPOTHESIZE this.And who says it's an IMPORTANT FACT?
"In any case the important fact is that the HQ people requested the 144's be filed not who messed up."
Hartcourt Investors Agreed to Extension of Restriction Period
Wednesday February 4, 6:00 am ET
Hartcourt Subsidiaries Received Honors From Shanghai Government
LOS ANGELES, CA--(MARKET WIRE)--Feb 4, 2004 -- The Hartcourt Companies, Inc. (OTC BB: HRCT) (Frankfurt: 900009), www.hartcourt.com, announced today that a large number of investors who hold about 55 million of restricted common shares of Hartcourt have agreed to extend the restriction period of their Rule144 restricted shares for another year. According to SEC regulation, holders of Rule144 shares are eligible to file Form 144 and to sell their shares after a one-year holding period.
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
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