Replies to post #241 on Hartcourt Companies (fka HRCT)

[EZ2]

marshell - I think it's a good question. Perhaps someone who attended the Boca mtg. may have some addtl. perspective...but, it sounds to me that "timing" was in fact the bigger issue ie.
excerpts from financial statement below:

Mr. Manu Ohri, Hartcourt's Chief Financial Officer stated, ``Because of various investment
banking activities that the company was negotiating during the fourth quarter, we could not
consolidate the statements of operations of any additional revenue generating holdings in
Greater China prior to closing the books for fiscal year 2000. Had this additional revenue been
available, Hartcourt would have reported significantly higher sales figures.''

``I also would like to point out that approximately $3,700,000 of the stated losses for 2000 were
from non-recurring events. These events primarily include the write down of $2,500,000 of
marketable securities the company acquired in GoCall Inc. in 1999, and the write-off a note
receivable from an unrelated entity in the amount of $225,000,'' said Ohri.

Anyone read this differently ????? EZ

[The Eagle]

Marshell.....Questions for HRCT Executives..

Fellow HRCTer..

In the past the Bulletin Boards, RB and AOL, often had posters inquiring with questions as yours. And..then we would experience a series of replies from other posters that speculated, guessed, or simply gave their uninformed opinions about matters of this gravity.

The net results were that a number of misinformed folks - none of whom possessed any credible facts would give us speculative answers to reasonable questions like yours that only muddied the waters.

I notice that you posited a statement that could also be misleading to some uninitiated Hartcourt current or would be investor (we do need a few new investors). In this instance the Company (Hartcourt) simply was not allowed to include our financials from the Subs for this quarter because of accounting rules - not because of any lack of desire, energy or plan on the part of our executives.

Whenever possible - such questions need to be messaged to Hartcourt and the company reply posted for the benefit of all of us that are inhabiting this board.

No offense intended - but we have all witnessed a number of unfortunate scenarios like I have cited above.... that caused me to write this message. For the good of all I believe that we should try to get our justifiable and reasonable questions answered by a Hartcourt executive and minimize the speculative remarks that have caused so much trouble in the past.

God Bless ya...don't stop asking questions of our executives that concern you..the answers are of value to all of us.

Andy

[Da !]

marshell, as I understand it, the reason the revenues are not included in the 2000 10K is because HRCT's percentage ownership in SA and SB did not become greater than 50% until December 31, 2000. As HRCT has explained it at least, the reason the revenues were not included previously had to do with the way accounting standards (I can't remember if they were U.S. or Chineses standards) treated less-than-majority ownership.

Da!