Replies to post #382 on Hartcourt Companies (fka HRCT)

[SinoKnowledge]

Free,

It is very quiet over there currently. Only time will tell.

One more positive from the 10-KSB that was pointed out to me by another long. HRCT had a negative cash flow from operations of only 2.5 million in 2000. If the various investments can only prduce small profits in each entity they can easily offset the negative cash flow of HRCT.

One more which is mostly good. The ET transaction seems to be solid. HRCT will pony up 1.5 million in cash and 2.325 million in HRCT stock and the deal will be done. ET had significant revenue and earnings last year. The only downside is that at this price it is a large number of shares. At least we are getting a revenue producing company for the stock. I hope Alan has the 1.5 million cash in the conduit as the deal is set to close in mid-April. I expect he does.

[funincolo]

TFN...

I'm not getting to worked up about the 10K... Without all the subsidiaries reporting, it doesn't have much meaning from the standpoint of analyzing the numbers...as Sino posted... 7 cents a share deficit and 2.5 million negitive cash flow (only FTL and HRCT HQ reporting) from operations is not much to make up... but until all the entities are reported...we won't have a base to start from...

The debt still only consists of 3.5 million with 2.5 million due to the owners of FTL and UAC (including combined results from FTL, UAC, SA and HRCT HQ) So the going concern disclaimer is once again ridiculous as HRCT will meet it's current obligations...

Also...HRCT still only paid 7 million for Sinobull and SA and even in this market they will value many times that amount... HRCT needs to focus on closing the remaining subs, reporting those subs, and listing those subs so they can be valued by the market.

Not thrilled by some of the excess bagage in the report, (management needs to make some adjustments in policy) and the enviromental market impact (share price) will be felt in the form of dilution closing subs, but the 10Q will be a much better evaluation of HRCT's financial position going forward...

JMO