Replies to post #63482 on Hartcourt Companies (fka HRCT)

[brdsng]

Have the large losses and not happy with past mgmt. but let's at least be honest. 2 points on your recent posts. 1) where would money come from to pay a class action judgement? would just further dilute everyone with more discounted stock sales or bankrupt company with legal and judgement costs so we would all lose. 2)Companies with little cash needing to raise money quickly don't do so through public offerings to shareholders. It is a much more costly and time consuming process with no assurance of success. Again, we need to keep our eye on the ball. That is the 20mm shares will not make or break this company going forward. It mgmt abiltiy to carry out their plan with rev and earning growth that will determine HRCT's fate in the big picture.

[1moodyblue]

!!!! BADGERING you say. I'm sorry was I out of LINE ? GEE you cometh here with such NOBLE intentions right from the start. How silly of me to haveth thunk otherwise. Now to answer in an I-Man fashion, since HRCT and Phan were NOT FOUND GUILTY ,But RESPONSIBLE, since you can only be found GUILTY when charged with a CRIME. HRCT was charged with violating Securities Law. And I guess you would prefer Carrie put out a PR for all shareholders offering Un-Registered S-8 shares so as to pay off a partial amount of their SEC fine. Can't imaging how long that might have taken. When she found investors in a VERY Timely fashion to pay off the total amount so as to keep the SEC happy., and put the whole event behind them. Can't really see where the TERRIBLE MESSAGE is in that. And you know as well as any average investor here that any time you OFFER up a large block of shares in a private placement it is ALWAYS at a DISCOUNT to the market price currently offered. And they are restricted for 1 yr. Were you GOING TO come up $1 Mil in 10 days or present the offering to your Buddies with the WONDERFUL COMMENTS you have to say about HRCT. BADGERING MMM and you used to be a CEO. AREN'T you suppose to have thick skin for that kind of a job. If not maybe thats why you're not a CEO anymore?


"The Court issued an order directing that civil penalties be imposed against the company in the amount of $275,000, the amount of $819,363 from the stock sales be disgorged, and the company be enjoined from future violations of the securities laws."


HRCT has been ordered to pay the total amount. It is similar to actual and punative damages in an ordinary lawsuit. The court always lists them separately but the defendant has to pay the total. That is why HRCT set aside the $1.3 million on the books.