Hartcourt Brief vom CEO Phan - 500 Beiträge pro Seite
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Feedback
hab ich heute als email bekommen: Muss sagen haben noch immmer nicht den richtigen haken gefunden?
August 3rd, 1999
Dear Friend:
A Few Cautious Words:
From time to time, I would like share with you, loyal supporter and shareholder of Hartcourt, the overview of Hartcourt s operations and its planning. I always believe that Hartcourt is a long play which eventually pays off big for investors. However, I understand that market forces and speculators could cause tremendous fluctuation to the stock price, therefore, it is definitely not the stock for those who are interested in short-term profit. As such, this is not a letter to hype our stock. It is just a simple report from the managements biased viewpoint.
Our Mission:
For those new shareholders, let me repeat our mission objective: Hartcourt plans to be the leading Internet company in China, and eventually, in Asia.
Our Background:
Hartcourt started out 8 years ago as a manufacturing company , producing a variety of products with plants in China, Mexico and the US. Lack of focus and lack of financing caused the company to restructure in 1998. The first step was placing all manufacturing operations in Enova Holdings Inc. and spun it off as dividends to shareholders. Hartcourt was left with $10 Million marketable securities and no operation. The second step was to focus on the new mission of Hartcourt, which is to become a leading Internet in China. We went to China, used our contacts, and signed 3 Joint Venture contracts with major Chinese firms. The third step is to secure financing to complete the transactions. The end result will be an Internet company with a revenue projected at $ 26 Million in 2000 and $145 Million in 2005. Contrary to most Internet operations, our operations are projected to be profitable on Year 1.
The Chinese Contracts:
1. UAC Online Trading: UAC is the only firm allowed to use the Chinese intranet called CHINAPAC to connect investors to the brokerage houses for trade execution. It has contracts to extend the service to at least 98 offices this year; and should be able to connect all 4,000 brokerage offices in 3 years.
2. IPC Technology International : IPC is the representative of a major state-owned Internet company in Beijing. It has the 5th national license of ISP for China; and is guaranteed 200,000. subscribers for its operation within 24 months.
3. XXXX: XXXX(name withheld until announced) is a real time stock quote and financial data provider, who has operated out of Hongkong for 14 years. It is like the Standard & Poors of Hongkong. XXXX and UAC will be a perfect match to launch a comprehensive Internet financial service for China.
Please go to our Web site, www.hartcourt.com for details on above companies.
The Financing:
We are working on 2 separate financing structures:
1. A private placement of $10 Million worth of HRCT shares:
We have received an offer from a small banking firm for the $10 Million equity. However, we do not like the fee and the discount percentage on the share price. We are also waiting on the due diligence result from a well-known bank. My trip this week to Hongkong is to finalize the banking agreement, if they decide to go ahead. Meanwhile, 4 individual investors have agreed to purchase a total of $3.5 Million if Hartcourt undertakes to do its own offering ( It will save us plenty of banking and commission fee). Overall, it is not a question of whether we will get the financing, but which terms should we accept from whom ? Also, the $3 Million credit line obtained from the $10 Million marketable securities we own will be sufficient to complete the UAC deal alone.
2. Convertible debts of $45 Million for the ISP Joint Venture:
We have ongoing discussion with a major Hongkong investment banking firm and with a telecom investment fund in New York. The results should be clear by end of August. Meanwhile, other investment banks have expressed interest, so there are many alternatives to above firms. Please bear in mind that this financing arrangement has nothing to do with the completion of the UAC or the XXXX deals.
Everybody is pushing us to get the financing done to help the share price, but we will wait for the best deal from the highest quality companies. One of Hartcourt s mistakes in the past was its hasty acceptance of expensive financing from low-quality people. We will not repeat this mistake.
The Strategic Alliance And The Merger:
Since the announcement of the UAC and IPC transactions, we have received many offers and proposals, including the outright purchase of some small ISP companies in the US. We have discussed and planned to engage a well-known firm, specializing in matching partners in hi-tech strategic alliances. From the initial responses, we will have one or two partners, who are major famous Internet companies in the US to help us with the technical management. We should complete this step by October 1999. Meanwhile, we have entered into serious discussion to acquire a sizable profitable Internet firm to create a solid platform, technologically and financially. If the deal is consumated, it will change the whole perception on Hartcourts Internet capabilities.
The Name Change:
Once the above merger is completed, Hartcourt should change its name to reflect its new operation and its objective. Your suggestion is most welcome.
The Management:
First of all, the management of these 3 operations will be the responsibilities of the Joint Venture partners. They are now well-staffed with excellent and experienced Chinese engineers and scientists, as well as international mangers and high-level technocrats.
On Hartcourts side, the first step is to strengthen the Board of Directors with well-known celebrities from the hi-tech world. We have invited and conducted negotiations with a few individuals. These are news-makers in their own right.
The second step is to select a CEO who has experience in managing a-billion-dollar hi-tech enterprise. We have engaged a head-hunting firm to do just that. Furthermore, if we complete the above-mentioned merger with the American Internet firm, we shall have over 50 hi-power technies on our staff.
The Public And Investor Relation:
Conforming with our principle to work only with high-quality people, we have engaged the largest financial relation firm in the world. The announcement should come shortly. With a staff of over 800 , this PR firm will create a completely new image for Hartcourt.
The NASDAQ NSM Listing:
As promised, we shall re-file the NASDAQ application once the share price reaches $5. We believe that if we prove without any doubt that we have the financing to carry out the contracts, the market will reward us with the desired price. Furthermore, if the merger with the above-mentioned Internet firm is realized, this goal could be reached sooner than expected.
The Hongkong And Singapore Stock Exchange:
The Hongkong GEM (Growth Enterprise Market) will start accepting application in September, and we will be there. As for Singapore, we are preparing the documents with our sponsors to apply to SESDAQ.
Enova Holdings Inc.:
We are completing the Form 10-SB for submittal to the SEC. We do not control the processing, so we cannot give you an exact date for listing on OTC BB; but the average waiting period is about 100 days. As Pego Systems is profitable and having strong growth, together with the completion of 2 potential acquisitions, the starting bid price for Enova shares should be fantastic.
My Personal Thoughts:
For the last 8 years, I have had a wild journey with Hartcourt. If you look into the 10K and 10Qs, you would notice that my holding in Hartcourt keeps increasing. I took all my salary in shares, borrowing only $126,000. in 8 years to keep going and to keep the dream alive. During the journey, I have encountered plenty of crooks, traitors, critics, liars, mockers,.... as well as friends, supporters, mentors, teachers. I have enjoyed it all and am very grateful for the experiences, good or bad. I believe that Hartcourt is about to reach its destination, and I am about to return to the private life I love. I have made a lot of mistakes, overcome plenty of obstacle, and gave it my best. Your support and friendship is really the engine that keeps Hartcourt going. By the end of this year, we should get together and celebrate the happy ending. My sincere thanks for the wonderful memories.
Alan V. Phan
August 3rd, 1999
Dear Friend:
A Few Cautious Words:
From time to time, I would like share with you, loyal supporter and shareholder of Hartcourt, the overview of Hartcourt s operations and its planning. I always believe that Hartcourt is a long play which eventually pays off big for investors. However, I understand that market forces and speculators could cause tremendous fluctuation to the stock price, therefore, it is definitely not the stock for those who are interested in short-term profit. As such, this is not a letter to hype our stock. It is just a simple report from the managements biased viewpoint.
Our Mission:
For those new shareholders, let me repeat our mission objective: Hartcourt plans to be the leading Internet company in China, and eventually, in Asia.
Our Background:
Hartcourt started out 8 years ago as a manufacturing company , producing a variety of products with plants in China, Mexico and the US. Lack of focus and lack of financing caused the company to restructure in 1998. The first step was placing all manufacturing operations in Enova Holdings Inc. and spun it off as dividends to shareholders. Hartcourt was left with $10 Million marketable securities and no operation. The second step was to focus on the new mission of Hartcourt, which is to become a leading Internet in China. We went to China, used our contacts, and signed 3 Joint Venture contracts with major Chinese firms. The third step is to secure financing to complete the transactions. The end result will be an Internet company with a revenue projected at $ 26 Million in 2000 and $145 Million in 2005. Contrary to most Internet operations, our operations are projected to be profitable on Year 1.
The Chinese Contracts:
1. UAC Online Trading: UAC is the only firm allowed to use the Chinese intranet called CHINAPAC to connect investors to the brokerage houses for trade execution. It has contracts to extend the service to at least 98 offices this year; and should be able to connect all 4,000 brokerage offices in 3 years.
2. IPC Technology International : IPC is the representative of a major state-owned Internet company in Beijing. It has the 5th national license of ISP for China; and is guaranteed 200,000. subscribers for its operation within 24 months.
3. XXXX: XXXX(name withheld until announced) is a real time stock quote and financial data provider, who has operated out of Hongkong for 14 years. It is like the Standard & Poors of Hongkong. XXXX and UAC will be a perfect match to launch a comprehensive Internet financial service for China.
Please go to our Web site, www.hartcourt.com for details on above companies.
The Financing:
We are working on 2 separate financing structures:
1. A private placement of $10 Million worth of HRCT shares:
We have received an offer from a small banking firm for the $10 Million equity. However, we do not like the fee and the discount percentage on the share price. We are also waiting on the due diligence result from a well-known bank. My trip this week to Hongkong is to finalize the banking agreement, if they decide to go ahead. Meanwhile, 4 individual investors have agreed to purchase a total of $3.5 Million if Hartcourt undertakes to do its own offering ( It will save us plenty of banking and commission fee). Overall, it is not a question of whether we will get the financing, but which terms should we accept from whom ? Also, the $3 Million credit line obtained from the $10 Million marketable securities we own will be sufficient to complete the UAC deal alone.
2. Convertible debts of $45 Million for the ISP Joint Venture:
We have ongoing discussion with a major Hongkong investment banking firm and with a telecom investment fund in New York. The results should be clear by end of August. Meanwhile, other investment banks have expressed interest, so there are many alternatives to above firms. Please bear in mind that this financing arrangement has nothing to do with the completion of the UAC or the XXXX deals.
Everybody is pushing us to get the financing done to help the share price, but we will wait for the best deal from the highest quality companies. One of Hartcourt s mistakes in the past was its hasty acceptance of expensive financing from low-quality people. We will not repeat this mistake.
The Strategic Alliance And The Merger:
Since the announcement of the UAC and IPC transactions, we have received many offers and proposals, including the outright purchase of some small ISP companies in the US. We have discussed and planned to engage a well-known firm, specializing in matching partners in hi-tech strategic alliances. From the initial responses, we will have one or two partners, who are major famous Internet companies in the US to help us with the technical management. We should complete this step by October 1999. Meanwhile, we have entered into serious discussion to acquire a sizable profitable Internet firm to create a solid platform, technologically and financially. If the deal is consumated, it will change the whole perception on Hartcourts Internet capabilities.
The Name Change:
Once the above merger is completed, Hartcourt should change its name to reflect its new operation and its objective. Your suggestion is most welcome.
The Management:
First of all, the management of these 3 operations will be the responsibilities of the Joint Venture partners. They are now well-staffed with excellent and experienced Chinese engineers and scientists, as well as international mangers and high-level technocrats.
On Hartcourts side, the first step is to strengthen the Board of Directors with well-known celebrities from the hi-tech world. We have invited and conducted negotiations with a few individuals. These are news-makers in their own right.
The second step is to select a CEO who has experience in managing a-billion-dollar hi-tech enterprise. We have engaged a head-hunting firm to do just that. Furthermore, if we complete the above-mentioned merger with the American Internet firm, we shall have over 50 hi-power technies on our staff.
The Public And Investor Relation:
Conforming with our principle to work only with high-quality people, we have engaged the largest financial relation firm in the world. The announcement should come shortly. With a staff of over 800 , this PR firm will create a completely new image for Hartcourt.
The NASDAQ NSM Listing:
As promised, we shall re-file the NASDAQ application once the share price reaches $5. We believe that if we prove without any doubt that we have the financing to carry out the contracts, the market will reward us with the desired price. Furthermore, if the merger with the above-mentioned Internet firm is realized, this goal could be reached sooner than expected.
The Hongkong And Singapore Stock Exchange:
The Hongkong GEM (Growth Enterprise Market) will start accepting application in September, and we will be there. As for Singapore, we are preparing the documents with our sponsors to apply to SESDAQ.
Enova Holdings Inc.:
We are completing the Form 10-SB for submittal to the SEC. We do not control the processing, so we cannot give you an exact date for listing on OTC BB; but the average waiting period is about 100 days. As Pego Systems is profitable and having strong growth, together with the completion of 2 potential acquisitions, the starting bid price for Enova shares should be fantastic.
My Personal Thoughts:
For the last 8 years, I have had a wild journey with Hartcourt. If you look into the 10K and 10Qs, you would notice that my holding in Hartcourt keeps increasing. I took all my salary in shares, borrowing only $126,000. in 8 years to keep going and to keep the dream alive. During the journey, I have encountered plenty of crooks, traitors, critics, liars, mockers,.... as well as friends, supporters, mentors, teachers. I have enjoyed it all and am very grateful for the experiences, good or bad. I believe that Hartcourt is about to reach its destination, and I am about to return to the private life I love. I have made a lot of mistakes, overcome plenty of obstacle, and gave it my best. Your support and friendship is really the engine that keeps Hartcourt going. By the end of this year, we should get together and celebrate the happy ending. My sincere thanks for the wonderful memories.
Alan V. Phan
Hi Franky!
Interessantes Posting.
Obwohl mir schon die meisten Punkte dieses Mails bekannt waren, möchte ich es kurz zusammenfassen und mir meine Gedanken dazu machen, wobei ich Euch um eine Zustimmung oder Ablehnung bitte:
1. Allgemeines
Der Schreibstil ist sehr amerikanisch aber eine persönliche Freundschaft zu einem CEO brauche ich nicht. Der lullt hier die Leute ganz schön ein. So nach dem Motto: bleibt meine Freunde und ihr werdet Ende des Jahres dafür belohnt.
2. Beteiligungen/Übernahmen
Zu den drei Firmen kann man an sich sagen, daß hier gute Initiativen gestartet wurden, die aber nochnicht finanziert wurden. Ein Verweis auf mögliche andere Investoren, falls die Verhandlungen mit der Bank scheitern, ist für mich eher ein Zeichen dafür, daß sie mit einem Scheitern rechnen.
3. Persönliche Gedanken Phans
Facts wären mir lieber als seine Lebensgeschichte und seine Fehler. Siehe auch 1.!
4. Neuer Name, neuer CEO:
Die Tatsache, daß sie für die neuen Geschäftsbereiche einen neuen Namen und einen neuen CEO per Headhunter oder im Internet suchen, ist zwar schön, bringt aber nix. Wie wärs, wenn der alte CEO seinen Job macht?
5. Neuigkeiten/Termine:
Phan wird dieses Wochenende nach Hongkong fahren, um die Finanzierung für einen Teil der anstehenden Deals klar zu machen. Also werden wir Mitte nächster Woche mehr wissen. Teile des Mails an Franky lassen aber eher den Schluß zu, daß Phan pessimistisch ist und sich bei seinen Aktionären mit Sprüchen wie "wir werden nur noch mit den besten Leuten verhandeln und stellen wir fest, dass sie nicht die besten sind, verhandeln wir mit anderen" nur für scheiternde Verhandlungen absichern will.
6. Fazit:
In meinen Augen bleibt Hartcourt nach wie vor hochspekulativ. Auch ein Totalverlust noch innerhalb dieses Monats/Jahres ist nicht ausgeschlossen, da die Firma immer noch auf sehr wackeligen Beinen steht. Platzt die Finanzierung am Wochenende, haben wir worst-case direkt vor uns. Geht alles klar, so können wir mit Phan Ende des Jahres feiern und Mitte nächsten Jahres sollten wir dann vom heutigen Stand aus + 400% machen können, wenn die dritte Beteiligung verkündet wird und der versprochene Knaller ist.
Was meint Ihr?
Interessantes Posting.
Obwohl mir schon die meisten Punkte dieses Mails bekannt waren, möchte ich es kurz zusammenfassen und mir meine Gedanken dazu machen, wobei ich Euch um eine Zustimmung oder Ablehnung bitte:
1. Allgemeines
Der Schreibstil ist sehr amerikanisch aber eine persönliche Freundschaft zu einem CEO brauche ich nicht. Der lullt hier die Leute ganz schön ein. So nach dem Motto: bleibt meine Freunde und ihr werdet Ende des Jahres dafür belohnt.
2. Beteiligungen/Übernahmen
Zu den drei Firmen kann man an sich sagen, daß hier gute Initiativen gestartet wurden, die aber nochnicht finanziert wurden. Ein Verweis auf mögliche andere Investoren, falls die Verhandlungen mit der Bank scheitern, ist für mich eher ein Zeichen dafür, daß sie mit einem Scheitern rechnen.
3. Persönliche Gedanken Phans
Facts wären mir lieber als seine Lebensgeschichte und seine Fehler. Siehe auch 1.!
4. Neuer Name, neuer CEO:
Die Tatsache, daß sie für die neuen Geschäftsbereiche einen neuen Namen und einen neuen CEO per Headhunter oder im Internet suchen, ist zwar schön, bringt aber nix. Wie wärs, wenn der alte CEO seinen Job macht?
5. Neuigkeiten/Termine:
Phan wird dieses Wochenende nach Hongkong fahren, um die Finanzierung für einen Teil der anstehenden Deals klar zu machen. Also werden wir Mitte nächster Woche mehr wissen. Teile des Mails an Franky lassen aber eher den Schluß zu, daß Phan pessimistisch ist und sich bei seinen Aktionären mit Sprüchen wie "wir werden nur noch mit den besten Leuten verhandeln und stellen wir fest, dass sie nicht die besten sind, verhandeln wir mit anderen" nur für scheiternde Verhandlungen absichern will.
6. Fazit:
In meinen Augen bleibt Hartcourt nach wie vor hochspekulativ. Auch ein Totalverlust noch innerhalb dieses Monats/Jahres ist nicht ausgeschlossen, da die Firma immer noch auf sehr wackeligen Beinen steht. Platzt die Finanzierung am Wochenende, haben wir worst-case direkt vor uns. Geht alles klar, so können wir mit Phan Ende des Jahres feiern und Mitte nächsten Jahres sollten wir dann vom heutigen Stand aus + 400% machen können, wenn die dritte Beteiligung verkündet wird und der versprochene Knaller ist.
Was meint Ihr?
glaube eigentlich dass eine finanzierung nicht zu schwierig sin sollte.
bei einem solchen business plan sollte wohl das geld sprudeln. Siehe china.com wo durch ein IPO mehr als eine Mrd $ der firma zugekommen sind. Die internet seite ist nicht so stark! aber immerhin gibt es schon eine.
sollte eine allianz in den usa zustandekommen könnte eine quailitativ gute webseite aufgabaut werden können.
bei einem solchen business plan sollte wohl das geld sprudeln. Siehe china.com wo durch ein IPO mehr als eine Mrd $ der firma zugekommen sind. Die internet seite ist nicht so stark! aber immerhin gibt es schon eine.
sollte eine allianz in den usa zustandekommen könnte eine quailitativ gute webseite aufgabaut werden können.
Hi Leute !
Sicherlich der Brief ist sehr ´warm`und freundlich geschrieben.
Und du hast Recht, dies ist typisch amerikanisch, aber die Amerikaner und auch Chinesen brauchen dieses Gefühl des Vertrauens.
Soll jeder selbst entscheiden ob dies nur ´geschleime`ist oder ob dies nur offen und ehrlich ist. Wie auch jeder selbst entscheiden sollte ob er investiert oder nicht. Für mich übersteigt die Chance bei weitem das Risiko.
Phan hat eine mögliche Finanzierung bereits abgelent , dies zeigt, dass er gewillt ist(natürlich) ein seriöses Geldinstitut zu finden.Falls dies nicht klappt(obwohl ich daran zweifle,denn Venture Capital aufzutreiben ist heutzutage kein Problem) kann er immer noch auf "unseriöse" Firmen mit hohen fee´s zurückgreifen.
Desweiteren haben sie die grösste PR Firma der Welt engagiert um ein neues Image zu schaffen.
Dann planen sie den Gang an die Börsen Hongkong und Singapur.
Denn CEO den sie suchen soll in der Lage sein ein 1MILLIARDEN!!!
Unternehmen zu leiten ! (Allerdings vestehe ich auch nicht warum Phan sich das nicht zutraut)
Un zu guter letzt suchen sie einen neuen Namen(Endlich!!)
Also Leute lasst eurer Kreativität freien Lauf und lasst uns auf diesem Board Namen suchen die wir an Hartcourt schicken. Ich gehe mir jetzt etwas überlegen und stele den neuen Namen später hier rein.
Bis dahin have anice day
euer ALexB
Sicherlich der Brief ist sehr ´warm`und freundlich geschrieben.
Und du hast Recht, dies ist typisch amerikanisch, aber die Amerikaner und auch Chinesen brauchen dieses Gefühl des Vertrauens.
Soll jeder selbst entscheiden ob dies nur ´geschleime`ist oder ob dies nur offen und ehrlich ist. Wie auch jeder selbst entscheiden sollte ob er investiert oder nicht. Für mich übersteigt die Chance bei weitem das Risiko.
Phan hat eine mögliche Finanzierung bereits abgelent , dies zeigt, dass er gewillt ist(natürlich) ein seriöses Geldinstitut zu finden.Falls dies nicht klappt(obwohl ich daran zweifle,denn Venture Capital aufzutreiben ist heutzutage kein Problem) kann er immer noch auf "unseriöse" Firmen mit hohen fee´s zurückgreifen.
Desweiteren haben sie die grösste PR Firma der Welt engagiert um ein neues Image zu schaffen.
Dann planen sie den Gang an die Börsen Hongkong und Singapur.
Denn CEO den sie suchen soll in der Lage sein ein 1MILLIARDEN!!!
Unternehmen zu leiten ! (Allerdings vestehe ich auch nicht warum Phan sich das nicht zutraut)
Un zu guter letzt suchen sie einen neuen Namen(Endlich!!)
Also Leute lasst eurer Kreativität freien Lauf und lasst uns auf diesem Board Namen suchen die wir an Hartcourt schicken. Ich gehe mir jetzt etwas überlegen und stele den neuen Namen später hier rein.
Bis dahin have anice day
euer ALexB
wie wärs mit u fools
Trading Spotlight
u fools was soll das heisseb?
bist du jetzt pessimist?
sieh dir sport.de an! die nehmen jetzt auch private investoren an und verkaufen anfang des jahres mit 5.6 euros und gehen jetztm mit 14 euros um!!!!!
bist du jetzt pessimist?
sieh dir sport.de an! die nehmen jetzt auch private investoren an und verkaufen anfang des jahres mit 5.6 euros und gehen jetztm mit 14 euros um!!!!!
ALso ich stimme Alex auch zu, der sülzt hier rumm mit seinem Milliarden-Unternehmen, dabei könnten wir den Laden zu zehnt locker aufkaufen. Ich denke der hat zu viele Filme mit Gordon Gekko gesehen. Ich fuer meinen Teil bleib zwar drin, aber auch nur weil ich eh schon fett Verlust gemacht habe und der Rest mir inzw. völlig egal ist. Das ist dann wohl alles oder nix!
Mich würde mal interessieren zu was fuer Kursen ihr gekauft habt?
hab noch ein paar: schnitt 1,25E
gruss levi
gruss levi
da bin ich mit Schnitt von 1,40 gar nicht so schlecht, habe allerdings bei 1,07 ein paar verkauft, da ich nicht dachte, dass die Aktie so schnell nocchmal hochkommt!
Mein Kaufkurs liegt bei ca. 1.43 Euro .
Aber lange werde ich mir das nicht mehr antun .
Aber lange werde ich mir das nicht mehr antun .
Habe zuerst für 2,10 dann ein paar Tage später nach dem Verfall für 1,05 gut verbilligen können. Dann gestern mit 1,48 plusminus null wieder raus und heute für 1,23 wieder rein.
In USA lief es doch eigentlich gar nicht so schlecht, bis zum Schluß die größeren Verkaufsorders den Kurs gedrückt haben. Könnte mit ein wenig Glück doch eine Superstory werden.
Good Trading
In USA lief es doch eigentlich gar nicht so schlecht, bis zum Schluß die größeren Verkaufsorders den Kurs gedrückt haben. Könnte mit ein wenig Glück doch eine Superstory werden.
Good Trading
Hi Leute,
da bin ich wieder!
Nur zur Info , bin direkt am ersten Handelstag in Germany rein(1.47) und hab zwei Tage später 2.15 Gewinne mitgenommen. Bin letzte Woche bei 1.30 mit einigen tausend Stück wieder rein und lasse jetzt liegen. Hatte
meinen Spass ja schon.
So noch ein paar Argumente zum selber abwägen:
Mann sollte jetzt die geplante Roadshow in den nächsten Tagen abwarten
ob ein "Sponsor" gefunden wird.
Die Tatsache, dass ein neuer CEO gesucht wird liegt wohl daran, dass keiner der Personen im Management Erfahrung in Firmen gesammelt hat, die mit 2-,3-oder mehrstelligen Millionensummen operieren.
Schaut euch die zusammensetzung des MAnagements auf der homepage an.(www.hartcourt.com)
Gut ,fange ich mal an mit der Namenskreierung
bitte nicht lachen)
cob.com (chinese online banking.com)
Bis morgen Gute Nacht
Euer AlexB
da bin ich wieder!
Nur zur Info , bin direkt am ersten Handelstag in Germany rein(1.47) und hab zwei Tage später 2.15 Gewinne mitgenommen. Bin letzte Woche bei 1.30 mit einigen tausend Stück wieder rein und lasse jetzt liegen. Hatte
meinen Spass ja schon.
So noch ein paar Argumente zum selber abwägen:
Mann sollte jetzt die geplante Roadshow in den nächsten Tagen abwarten
ob ein "Sponsor" gefunden wird.
Die Tatsache, dass ein neuer CEO gesucht wird liegt wohl daran, dass keiner der Personen im Management Erfahrung in Firmen gesammelt hat, die mit 2-,3-oder mehrstelligen Millionensummen operieren.
Schaut euch die zusammensetzung des MAnagements auf der homepage an.(www.hartcourt.com)
Gut ,fange ich mal an mit der Namenskreierung
bitte nicht lachen)cob.com (chinese online banking.com)
Bis morgen Gute Nacht
Euer AlexB
P.S.
das untere smilie ist gewollt,
das obere nicht.
das untere smilie
ist gewollt,das obere nicht.
Wenn ich mir die Typen auf der Homepage so ansehe, denke ich eher an ein Gruppenbild von Microsoft in den frühen 80igern. Lauter versoffene Looser. Aber man weiss ja, was aus Microsoft geworden ist.
Na denn mal los "Billie" Phan.
Hier mein Namensvorschlag:
Fire&Forget.com
Na denn mal los "Billie" Phan.
Hier mein Namensvorschlag:
Fire&Forget.com
Wir gehen aber auf die 2000 zu und sind nicht in den 70er!
Die sehen aus wie die Typen aus Studio 54, bloss sind sie wahrscheinlich nicht so lässig!
Die sehen aus wie die Typen aus Studio 54, bloss sind sie wahrscheinlich nicht so lässig!
ich habe einen Namen gefunden
hausgeldraus
hausgeldraus
Na dann schau mer mal wo es heute hingeht!
Toll!
...bin bei 1,29 eingestiegen und hab den Absprung verpasst.....
wie wird der Kursverlauf weitergehen?
Felizitas
...bin bei 1,29 eingestiegen und hab den Absprung verpasst.....
wie wird der Kursverlauf weitergehen?
Felizitas
die Aktie geht bis 1 runter, danach geht sie wieder hoch, aussser es gibt schlechte Nachrichten von Phan.So war das zumindest die letzten viermal. Ich bin auch schonmal mit Verlust ausgestiegen.Same procedure than every week!
Sieht so aus, dass die meissten Kauforder in US nicht ganz erfüllt wurden, das könnte ein gutes Zeichen sein, aber wo kommen dann die sinkenden Preise her?
Also mein Favorit ist James Pruzin.
ecommerce in china soll bis 2003 um jährluch um 243% in schnitt wachsen in umsatzzahlen.
wenn man da nur 1 oder 2 millionen umsatz mit einer guten geschichte sollte ein enormes kurspotential bringen.
also ich glaueb immer noch dran
wenn man da nur 1 oder 2 millionen umsatz mit einer guten geschichte sollte ein enormes kurspotential bringen.
also ich glaueb immer noch dran
.... vielen Dank für eure Antworten!
wer kann mir genaue Informationen über
hartcourt geben, was machen die überhaupt........
Felizitas
wer kann mir genaue Informationen über
hartcourt geben, was machen die überhaupt........
Felizitas
An Felizitas:
Du bist bei 1,29 eingestiegen und weißt nicht was die Firma in die Du investiert hast machst. Und jetzt willst Du von den anderen wissen wo der Kurs hingeht, weil Du z. Zt man gerade 6 cent im Minus bist. Hellsehen können wir aber auch nicht.
Du bist bei 1,29 eingestiegen und weißt nicht was die Firma in die Du investiert hast machst. Und jetzt willst Du von den anderen wissen wo der Kurs hingeht, weil Du z. Zt man gerade 6 cent im Minus bist. Hellsehen können wir aber auch nicht.
Goldman Sachs Internet Studie China
vom 06.08. 07:50
(gis/fs)
In einer Studie von Goldman Sachs ueber das Internet in China prognostiziert die
Investmentbank fuer das Jahr 2003 insgesamt 16,1 Millionen Internetuser fuer
den chinesischen Staat. Dies waere ein durchschnittliches Wachstum von
jaehrlich 51% bis zum Jahr 2003.
Auch soll bis zum Jahr 2003 der Gesamtumsatz des E-commerce in China auf
3.8 Milliarden US-$ ansteigen. Dieser Anstieg repraesentiert ein
durchschnittliches jaehrliches Wachstum von 243%.
Quelle: Goldman Sachs Investment Research Hong Kong
06.08. 07:50 – gis/fs – © GIS Wirtschaftsdaten GmbH
Jetzt sollte Phan also zusehen, dass er einen großen Anteil vom Kuchen abbekommt.
Tschau CAPM
vom 06.08. 07:50
(gis/fs)
In einer Studie von Goldman Sachs ueber das Internet in China prognostiziert die
Investmentbank fuer das Jahr 2003 insgesamt 16,1 Millionen Internetuser fuer
den chinesischen Staat. Dies waere ein durchschnittliches Wachstum von
jaehrlich 51% bis zum Jahr 2003.
Auch soll bis zum Jahr 2003 der Gesamtumsatz des E-commerce in China auf
3.8 Milliarden US-$ ansteigen. Dieser Anstieg repraesentiert ein
durchschnittliches jaehrliches Wachstum von 243%.
Quelle: Goldman Sachs Investment Research Hong Kong
06.08. 07:50 – gis/fs – © GIS Wirtschaftsdaten GmbH
Jetzt sollte Phan also zusehen, dass er einen großen Anteil vom Kuchen abbekommt.
Tschau CAPM
genau so sehe ich das auch.
da gibt es ein enormes Nachholpotential ´wenn man das alles mit den USA vergleicht.
nur mü´ssen jetzt die nutzer kommen.
da gibt es ein enormes Nachholpotential ´wenn man das alles mit den USA vergleicht.
nur mü´ssen jetzt die nutzer kommen.
hey feli
schau mal unter www.hartcourt.com
schau mal unter www.hartcourt.com
Wieso ist der Kurs in Berlin so hoch?
Ich dachte ich könnte noch ein paar billig kaufen!
Ich dachte ich könnte noch ein paar billig kaufen!
in deutschland sind offenbar nach den guten aussichten für das internet in china gute kääufer an der börse unterwegs.
das läßt hoffen.
nach dem internet pullback gestern sollte wieder starboden gefunden sein
das läßt hoffen.
nach dem internet pullback gestern sollte wieder starboden gefunden sein
Ich denke mal, dass sich Amis bei uns eindecken, da in US gestern viele Kaufaufträge nicht erfüllt werden konnten( auch unlimitierte!).
In der FAZ von heute war ebenfalls ein Artikel überdas Internet in Asien mit Blickpunkt China. Ich denke wir sin uns alle einig, dass dort ein riesiges
Popential schlummert. Also Mr.Phan holen sie sich und uns ein Stück vom Kuchen.
Gruss AlexB
P.S. Was ist mit eurer Kreativität? Zu heiss?
Also postet drauf los, es kann euch hier keiner auslachen!!!
(zumindest hört ihr es nicht)
Popential schlummert. Also Mr.Phan holen sie sich und uns ein Stück vom Kuchen.
Gruss AlexB
P.S. Was ist mit eurer Kreativität? Zu heiss?
Also postet drauf los, es kann euch hier keiner auslachen!!!
(zumindest hört ihr es nicht
)
wie wärs mit chinabuster.com
oder mit Bustergetsrich.com
Hey Buster ,
auf einmal bullish ?!
auf einmal bullish ?!
Nein, aber igendwie muss ich mit meinen Verlusten, die ich bisher gemacht habe ja fertig werden, und ausserdem ist der Name ja wohl nicht schlecht!
Bustergetstemall.com
Jetzt erstmal ein Bier oder 2 und am Montag dann Champagner!
....sieht doch ganz gut für hartcourt aus,oder.....??????
was erwartet uns nächste woche ?????
Felizitas
was erwartet uns nächste woche ?????
Felizitas
Nächste Woche gibt es Nachrichten und dann entscheidet sich wo es hingeht!
....was kommen denn da für tolle News auf uns zu ????
Zahlen!
Ich halte meine HRCT-s mindestens noch ein halbes Jahr. Auch wenn ich zwischendurch im minus stehe. Habe zum Daytraden keine Zeit.
Mein neuer Name für HRCT ist CCI China-Communikations-Invesments.
Mein neuer Name für HRCT ist CCI China-Communikations-Invesments.
achtung es sollten diese Woche noch news kommen!
mfg
jumanii
mfg
jumanii
welche nachrichten kommen denn in etwas noch diese woche hat da einer etwas mehr an infos
heute fast kein umstz in berlinä
tote hose
hängt das mit rußland zusammen?
heute fast kein umstz in berlinä
tote hose
hängt das mit rußland zusammen?
....ich denke ,die kurze Ralley im august hat begonnen.
Sollte man jetzt ausbauen,der hrct-Kurs scheint mir geeignet zu sein,was meint ihr ?
Sollte man jetzt ausbauen,der hrct-Kurs scheint mir geeignet zu sein,was meint ihr ?
Was ist los, seid ihr alle raus?
Sollte dies wirklich der Startschuß zur Sommerrally gewsen sein kommen erst mal die Blue-Chips dran, die kleinen sind erst gefragt wenn den anlegern die Dicken schon zu gut gelaufen sind.
Gruß
DnD
Gruß
DnD
Bin auch fett in HRCT investiert. Aber die beiden großen 100.000er Verkaufsorders zum Schluß stimmen mich etwas bedenklich. Schließlich hat die Shares natürlich auch jemand gekauft. Trotzdem 200.000 Stück sind 40% vom Tagesvolumen. Was mein Ihr?
Last 10 Trades:
http://host.cnbc.com/jetson/Last_n_Trades.html?Symbol=HRCt
Last 10 Trades:
http://host.cnbc.com/jetson/Last_n_Trades.html?Symbol=HRCt
Vielleicht steigt ja schon eon Fond ein!!!!!!
Und die wissen bekantlich mehr!
Und die wissen bekantlich mehr!
Ok ich wars
Wann kommen denn endlich die NEWS?
Bei einer anstehenden kurzfristigen Erholung der Inets wäre nun der richtige Zeitpunkt!
SeroZ
Bei einer anstehenden kurzfristigen Erholung der Inets wäre nun der richtige Zeitpunkt!
SeroZ
...da kommen keine news....
welche auch....????
welche auch....????
Hi Leute,
www.stockreporter.de gibt eine Empfehlung für Hartcourt raus mit
!! KURSZIEL 9$!! bis 2000.
Wenn die Finanzierungen alle glatt über die Bühne gehen und die Zahlen stimmen sollte der Kurs steigen,denn dann wäre der Kurs auf jetzigem Niveau krass unterbewertet.
Es müssen nur mehr Leute auf diesen heissen Wert aufmerksam werden,
denn auch dieses Board besteht hauptsächlich aus 4,5 Leuten.
Bis dahin ALexB
www.stockreporter.de gibt eine Empfehlung für Hartcourt raus mit
!! KURSZIEL 9$!! bis 2000.
Wenn die Finanzierungen alle glatt über die Bühne gehen und die Zahlen stimmen sollte der Kurs steigen,denn dann wäre der Kurs auf jetzigem Niveau krass unterbewertet.
Es müssen nur mehr Leute auf diesen heissen Wert aufmerksam werden,
denn auch dieses Board besteht hauptsächlich aus 4,5 Leuten.
Bis dahin ALexB
Neuer Name Pekingente.com
Hey zusammen,
bin neuerdings auch HRCT-Aktionär.
Eine Frage an AlexB: KZ 9$!!!!!!
Findest Du dieses Ziel realistisch. Wie gut ist denn die Informationsquelle?
Wäre natürlich toll, wenn´s so käme :-))
Ciao
bin neuerdings auch HRCT-Aktionär.
Eine Frage an AlexB: KZ 9$!!!!!!
Findest Du dieses Ziel realistisch. Wie gut ist denn die Informationsquelle?
Wäre natürlich toll, wenn´s so käme :-))
Ciao
Hey Buster ,
HA HA very funny!
Gib mir einen vernünftigen Vorschlag.
An Flechter,
www.stockworld.de ist seit Handelsbeginn in D (12.7.99) dabei und hat meines Erachtens den ersten Bericht zu HRCT veröffentlicht.
Dort halten sie ein KZ von 10-15$ !!! für möglich.
Wie gesagt, wenn sie es schaffen die neu erworbenen Geschäftsteile zu finanzieren, denn diese alleine würden einen Kurs von mind. 10 ausmachen.Und Asien ist der Internetwachstumsmarkt der Zukunft.
Nur ein Beispiel:
Ich kenne die Starnet Story zwar nicht aber schau dir mal deren Chart an.
Starnet dümpelte ein halbes Jahr lang zwischen 1 und 2 und stieg dann bis 25. Ich will dir nur zeigen,dass es auch nach yahoo & Co. möglich ist,
weit über 1000% mit einer Aktie zu verdienen.
Bis dann AlexB
HA HA very funny!
Gib mir einen vernünftigen Vorschlag.
An Flechter,
www.stockworld.de ist seit Handelsbeginn in D (12.7.99) dabei und hat meines Erachtens den ersten Bericht zu HRCT veröffentlicht.
Dort halten sie ein KZ von 10-15$ !!! für möglich.
Wie gesagt, wenn sie es schaffen die neu erworbenen Geschäftsteile zu finanzieren, denn diese alleine würden einen Kurs von mind. 10 ausmachen.Und Asien ist der Internetwachstumsmarkt der Zukunft.
Nur ein Beispiel:
Ich kenne die Starnet Story zwar nicht aber schau dir mal deren Chart an.
Starnet dümpelte ein halbes Jahr lang zwischen 1 und 2 und stieg dann bis 25. Ich will dir nur zeigen,dass es auch nach yahoo & Co. möglich ist,
weit über 1000% mit einer Aktie zu verdienen.
Bis dann AlexB
die kursziele sind sehr schön und glaube wenn etwas mehr klarheit üner doe finanziernug bei der allerdings einige positive alternativen bestehen sollen dann sollte ein richtig schöner move möglich sein.
derzeit bildet sich ain doppelbottom! unten aus.
sehr posoitv auch der grund warum die kurse wieder drehen!
derzeit bildet sich ain doppelbottom! unten aus.
sehr posoitv auch der grund warum die kurse wieder drehen!
Hat jemand was genaues über die Mail von Phan?
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Stockreporter.de Announces Investment Opinion on Hartcourt Companies
NEW YORK, Aug 11, 1999 (BUSINESS WIRE via COMTEX) --
Stockreporter.de Begins Coverage of the Hartcourt Companies (HRCT)
With a Strong Buy Recommendation and a Price Target of $9 Per Share
The Hartcourt Companies (OTC BB:HRCT) (Berlin: 900 009) today
received a strong buy recommendation from the Stockreporter.de, a
leading European financial internet publication at
www.stockreporter.de. The Stockreporter.de began coverage with a
conservative target price of $9 per share for the year 2000 at a
current share price of less than $1.20 offering a realistic short and
mid term potential of more than 600%.
All buy recommendations of the successful Stockreporter.de team
have shown - without any exception - an extraordinary share price
performance since Stockreporter.de has issued its recommendations for
the respective company. Thus the portfolio of Stockreporter.de is a
very successful and very reliable one, featuring e.g. FutureLink
Distribution (FLNK), Teltran International (TLTG), MonsterDaata.com
(MDDC), Antra Music Group (RECD), CancerOption.com (CAOP) and now
brand new The Hartcourt Companies (HRCT) which is going to be the next
extremely successful investment opportunity.
"The clear success of all our buy recommendations is of a big
importance to us and speaks for the quality of the companies
recommended by us," Torsten Prochnow from Stockreporter.de said today.
He continued: "In this connection we are particularly pleased to issue
today a strong buy recommendation for The Hartcourt Companies (HRCT).
We are strongly convinced that this company has an extremely strong
potential, and already now The Hartcourt Companies (HRCT) is making
clearly visible earnings per share. Therefore we strongly believe that
this company is going to belong to the best performing shares of the
OTC and BB segment." Torsten Prochnow added: "In our opinion this
share really deserves a strong buy recommendation and has enormous
potential from the next few weeks and months way into the year 2000."
The report includes the following information:
COMPANY OVERVIEW
Hartcourt started out 8 years ago as a manufacturing company,
producing a variety of products with plants in China, Mexico and the
U.S. Lack of focus and lack of financing caused the company to
restructure in 1998. The first step was placing all manufacturing
operations in Enova Holdings Inc. and spun it off as dividends to
shareholders. Hartcourt was left with $10 Million marketable
securities and no operation. The second step was to focus on the new
mission of Hartcourt, which is to become a leading Internet in China.
The Hartcourt team went to China, used their contacts, and signed 3
Joint Venture contracts with major Chinese firms. The third step is to
secure financing to complete the transactions. The end result will be
an Internet company with a revenue projected at $26 Million in 2000
and $145 Million in 2005. Contrary to most Internet operations,
Hartcourt`s operations are projected to be profitable on Year 1.
Hartcourt`s new international growth strategy was twofold. First,
the company focused on acquiring companies in electronics, industrial
distribution, and the communications industries, with a special
interest in developing markets in Asia. Second, once a business was
acquired, Hartcourt assisted in the growth of the subsidiary by
providing management with support, capital infusion, and strategic
alliances. In addition, the decision to divest itself of the China
facility provided the company with a firm asset base and cash flow to
support the company`s expansion plans. Using these strategies,
Hartcourt has evolved from a struggling company with revenues of
$74,000 in 1994 to a flourishing growth company with pro forma
revenues of over $20,000,000 in 1997. During this time, the capital
base rose from $2,000,000 to $37,000,000. Sales revenue for 1998
exceeded $23 million.
Since the sale of the China facility, and with the recent
acquisitions of Pego Systems, Inc. and the joint company of Electronic
Components and Systems, Inc. (ESC)/Pruzin Technologies, Inc.,
Hartcourt has become an impressive holding company combining several
small companies in the high-tech industry into one company large
enough to be competitive.
AMERICAN HOLDINGS
Hartcourt`s initial acquisition, Pego, is a 27-year-old
corporation that manufactures and distributes environmental and
filtration control equipment. This company, which dominates the
California, Arizona, and Nevada regions, gets its revenues from three
areas of operations: distribution of environmental and filtration
control equipment, custom-designed air and gas processing systems, and
equipment service for existing clients.
In 1997, Pego generated $6.6 million in sales and showed more
than $400,000 in profit. The company, which enjoys a competitive
advantage in its marketplace, has been growing at an annual rate of
10 percent. This established corporation has exclusive distribution
agreements with some of the country`s leading Fortune 500 companies,
including the Coca-Cola Company, Procter & Gamble, Mobil, and Arco, as
well as government installations such as Air Force bases and several
local municipalities.
Hartcourt`s second acquisition, Electronic Components and
Systems, Inc. (ECS)/Pruzin Technologies, had merged operations in 1988
for greater operating efficiency. The combined company has grown in
revenue from $300,000 to over $14 million in 1997.
Pruzin pioneered the technology of ball-grid array connection for
integrated circuits, which dramatically improves the efficiency of
most printed circuit boards. ECS specializes in high-tech
manufacturing and assembly of printed circuit boards, telephone cable
wires, and plastic injection. In addition, it has become the leading
manufacturer of cable reception and channel switching boxes for the
cable television industry as a result of its contract with General
Instruments. Other major customers include Intel and Motorola.
To further enhance the twofold focus of the company and to
strengthen the holdings of its shareholders, Dr. Alan Phan, President
of Hartcourt, has announced a separation of the company`s U.S. and
foreign interests and the creation of a new publicly held company. The
Nevada-based Enova Holdings Inc. (ENVA) will hold, develop, and seek
additional business opportunities in the United States. Enova shares
will be distributed to all existing Hartcourt shareholders - what
amounts to a stock split. "We are completing the Form 10-SB for
submittal to the SEC. We do not control the processing, so we cannot
give you an exact date for listing on OTC BB; but the average waiting
period is about 100 days. As Pego Systems is profitable and having
strong growth, together with the completion of 2 potential
acquisitions, the starting bid price for Enova shares should be
fantastic," Dr. Alan Phan, President and Chairman of the Board of
Hartcourt, said today. According to Dr. Phan, Hartcourt, the parent
company, will also seek additional opportunities and acquisitions in
China.
Hartcourt and China`s Internet
The number of Internet users in China was 4.2 million by the end
of June 1999, according to a survey conducted by Computer Network
Information Centre - almost six times the 620,000 users in October
1998. Only a small fraction of China`s 1.25 billion people currently
have access to the Internet, but growth in Internet use has been
explosive and industry analysts say the number of surfers could reach
seven million by 2001. In the coming millennium, this growth momentum
may hit more than 600 percent per year, Qian Hualin, vice president of
China Daily, noted in March 1999.
Hartcourt has completed negotiations with three major Internet
companies in China:
1. UAC Online Trading: UAC is the only firm allowed to use the
Chinese intranet called CHINAPAC to connect investors to the
brokerage houses for trade execution. It has contracts to extend
the service to at least 98 offices this year; and should be able
to connect all 4,000 brokerage offices in 3 years.
2. IPC Technology International: IPC is the representative of a
major state-owned Internet company in Beijing. It has the 5th
national license of ISP for China; and is guaranteed 200,000.
subscribers for its operation within 24 months.
3. Another company Stockreporter.de does not yet know the name of
(name withheld until announced by Hartcourt): This company is a
real time stock quote and financial data provider, who has
operated out of Hongkong for 14 years. It is like the Standard &
Poors of Hongkong. This company and UAC will be a perfect match
to launch a comprehensive Internet financial service for China.
The negotiation process is complicated due to the high
sensitivity of the Chinese government on matters which have political
impact. However, with Hartcourt`s past record on Chinese investments,
the government has extended great flexibility toward the company and
the mentioned agreements.
The reason for this prediction of rapid growth is the expectation
that the Chinese government will soon abolish much of the red tape now
surrounding the application for an Internet connection. If this
subscriber target is met, IPC revenues should grow to an estimated
$95 million, with a net of $14 million by December 2001.
These acquisitions by Hartcourt allow the company to have an
exclusive opportunity in the new but rapidly expanding commercial
Internet business in China. The Chinese Internet market historically
has been very hard to break into; many leading American and European
Internet companies have tried unsuccessfully. The open-door policy
initiated by the Chinese government 25 years ago has created a
situation where new opportunities emerge almost daily. Yet, this is
the first time that a foreign company will actually be allowed to
participate in state-owned assets, and could be the foundation of the
first time in China that there is a privately operated nationwide
Internet business.
"Subject to our ability to commit the necessary resources and
depending on the group`s ability to market and attract a high
percentage of China`s current population of 200 million potential
customers, the Chinese joint venture can buy out the government`s
position and effectively convert the venture into a privately owned
company and become Asia`s largest Internet provider," stated Dr. Phan.
"China is, and will continue to be, an enormous and lucrative market
for foreign businesses and investors alike."
FINANCING
Hartcourt is working on 2 separate financing structures: 1. A private
placement of $10 Million worth of HRCT shares:
Hartcourt has received an offer from a small banking firm for the
$10 Million equity. However, Hartcourt does not like the fee and
the discount percentage on the share price. Hartcourt is also
waiting on the due diligence result from a well-known bank. Dr.
Alan Phan`s trip this week to Hongkong is to finalize the banking
agreement, if they decide to go ahead. Meanwhile, 4 individual
investors have agreed to purchase a total of $3.5 Million if
Hartcourt undertakes to do its own offering (it will save
Hartcourt plenty of banking and commission fee). Overall, it is
not a question of whether Hartcourt will get the financing, but
which terms should Hartcourt accept from whom? Also, the
$3 Million credit line obtained from the $10 Million marketable
securities Hartcourt owns will be sufficient to complete the UAC
deal alone.
2. Convertible debts of $45 Million for the ISP Joint Venture:
Hartcourt has ongoing discussion with a major Hongkong investment
banking firm and with a telecom investment fund in New York. The
results should be clear by end of August. Meanwhile, other
investment banks have expressed interest, so there are many
alternatives to above firms. Please bear in mind that this
financing arrangement has nothing to do with the completion of
the UAC deal or the other deal.
Currently everybody is pushing Hartcourt to get the financing
done to help the share price, but according to Dr. Alan Phan,
Hartcourt will wait for the best deal from the highest quality
companies. One of Hartcourt`s mistakes in the past was its hasty
acceptance of expensive financing from low-quality people. "We will
not repeat this mistake," Dr. Alan Phan said today.
The Strategic Alliance And The Merger
Since the announcement of the UAC and IPC transactions, Hartcourt
has received many offers and proposals, including the outright
purchase of some small ISP companies in the U.S. Hartcourt has
discussed and planned to engage a well-known firm, specializing in
matching partners in hi-tech strategic alliances. "From the initial
responses, we will have one or two partners, who are major famous
Internet companies in the U.S. to help us with the technical
management. We should complete this step by October 1999. Meanwhile,
we have entered into serious discussion to acquire a sizable
profitable Internet firm to create a solid platform, technologically
and financially. If the deal is consummated, it will change the whole
perception on Hartcourt`s Internet capabilities," Dr. Alan Phan said
today.
CORPORATE MANAGEMENT
The management of Hartcourt (HRCT) is first class and consists of
Dr. Alan V. Phan, Mr. Leonard J. Romanna, and a highly skilled team of
industry experts. With this group, the Company is able to fulfill each
area of business required to manage this Company effectively. In
addition, the Company has access to other intellectual resources that
may be retained on an as-needed basis in the areas of technical
support, development, finance, and strategic planning:
o Dr. Alan V. Phan, CEO and Chairman of the Board: Dr. Phan has
over 30 years of experience in business management. He obtained
his academic training and degrees at Pennsylvania State
University and Sussex College of Technology. Executive Vice
President of Em Kay Group and Eisenberg Companies, he established
11 industrial projects in Asia and South America. Additionally,
Dr. Phan`s professional business experience includes real estate
development of over 200 homes. Due to Dr. Phan`s extensive
relationships in China, Hartcourt has been able to align itself
with the local government and businesses.
o Mr. Leonard J. Roman, Executive Vice President, Chief Financial
Officer and Director: Mr. Roman has 28 years of diversified
public and private business management experience having been a
member of senior management at Cosmar Corporation and Financial
Corporation of America, that during his tenure grew from
obscurity to become the largest in their categories. His
multi-faceted experience includes operations, finance as well as
administrative functions in the manufacturing, distribution and
the financial services industries. He is a CPA with Big Five
experience having been with Price Waterhouse for 5 years. Mr.
Roman earned his B.S. degree from St. John`s University.
Regarding the further development of the company`s human resources
and future recruiting of a new management team Dr. Alan V. Phan said
today: "First of all, the management of these 3 operations will be the
responsibilities of the Joint Venture partners. They are now
well-staffed with excellent and experienced Chinese engineers and
scientists, as well as international mangers and high-level
technocrats. On Hartcourt`s side, the first step is to strengthen the
Board of Directors with well-known celebrities from the hi-tech world.
We have invited and conducted negotiations with a few individuals.
These are news-makers in their own right. The second step is to select
a CEO who has experience in managing a-billion-dollar hi-tech
enterprise. We have engaged a head-hunting firm to do just that.
Furthermore, if we complete the above-mentioned merger with the
American Internet firm, we shall have over 50 hi-power `technies` on
our staff."
In this context another great fact was also announced by Dr. Alan V.
Phan today: "Conforming with our principle to work only with
high-quality people, we have engaged the largest financial relation
firm in the world. The announcement should come shortly. With a staff
of over 800, this PR firm will create a completely new image for
Hartcourt."
EVALUATION AND OUTLOOK The following projections estimated by
independent market experts according to Hartcourt`s revenue projections
are based on conservative assumptions. So we consider these figures to
be both very realistic and achievable: With approximately 17.6 Million
shares issued and outstanding Hartcourt is supposed to be profitable in
the year 2000 and to achieve substantial earnings of $0.30 per share in
the year 2000. Therefore we set our share price target to a least $9 at
a conservatively estimated PER of only 30 which in case of this
tremendous growth potential seems to be even too conservative.
On the whole it may be said that The Hartcourt Companies (HRCT)
possibly will be able to make even more profit in the year 2000 than we
expect. Consequently we would like to mention in advance that
Stockreporter.de might have to increase the profit expectations upon
availability of new improved earnings projections. According to these
facts we are strongly convinced that the share of The Hartcourt
Companies (HRCT) currently is drastically undervalued. Therefore we
believe that the Company is one of the most exciting companies to come
to our attention in recent years. Its enormous growth potential is both
dynamic and unlimited.
Last but not least we would like to mention an additional and very
important aspect: The management of the Company is currently beginning
to apply for a listing at the NASDAQ. So in particular, this
forthcoming listing of The Hartcourt Companies (HRCT) with regard to
the renowned NASDAQ will massively inspire the share price. Therefore
we believe especially this fact of taking the stock public to a major
stock exchange will bring a massive thrust of both new retail and new
institutional investors driving the share price into dimensions the
stock really deserves.
"As promised, we shall re-file the NASDAQ application once the share
price reaches $5. We believe that if we prove without any doubt that we
have the financing to carry out the contracts, the market will reward
us with the desired price. Furthermore, if the merger with the selected
Internet firm is realized, this goal could be reached sooner than
expected," Dr. Alan V. Phan, CEO and Chairman of the Board, said today.
He added: "The Hongkong GEM (Growth Enterprise Market) will start
accepting application in September, and we will be there. As for
Singapore, we are preparing the documents with our sponsors to apply to
SESDAQ."
Furthermore The Hartcourt Companies (HRCT) is already listed at the
Berlin Stock Exchange, the major European OTC stock exchange, to
increase the international exposure and to establish new investor
relations in Europe (the securities code is 900 009). All these
listings open the door for new major institutional investments by e.g.
national funds and investment bankers and will reduce the negative
influence day traders currently have. For that reason potential
investors have got only now the extremely unique and promising
opportunity to invest in the shares of The Hartcourt Companies (HRCT)
on a more than advantageous share price level.
In this context Dr. Alan V. Phan, CEO and Chairman of the Board, said
today: "I always believe that Hartcourt is a long play which eventually
pays off big for investors. However, I understand that market forces
and speculators could cause tremendous fluctuation to the stock price,
therefore, it is definitely not the stock for those who are interested
in short-term profit."
According to these facts and the great opportunities the new major
listings probably will offer we are strongly convinced that the shares
of The Hartcourt Companies (HRCT) is drastically undervalued at a
current price of less than $1.20 offering a short and mid term
potential of more than 600%. For this reason we believe that the HRCT
share currently is one of the most exciting and most promising
investment opportunities for both retail and institutional investors
and that the HRCT share is going to be one of the bestperforming micro
cap shares in the next weeks and months.
NOTICE The recommendation of The Hartcourt Companies (HRCT) was done on
an unsolicited basis. The complete recommendation and additional
information (e.g. coming soon an interview with the President and
Chairman) can be accessed at the Stockreporter.de web site at
www.stockreporter.de which is going to be the No. 1 Micro Caps and
OTC:BB site in Europe and especially in Germany. The site is completely
available in both languages, German and English. Any Stockreporter.de
micro cap recommendation still includes a highdegree of risk and is at
the investor`s individual and own risk. Therefore no claim for any kind
of warranty can and will be accepted by the Stockreporter.de.
If you have any further questions regarding this buy recommendation or
any other inquiry or suggestion, please do not hesitate to contact
Stockreporter.de at any time. We appreciate it very much to stay in
close contact to both institutional and private investors and OTC and
BB companies.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Stockreporter.de, New York
Torsten Prochnow, +49-172-4031383
or
Dennis C. Hass, +49-172-4062621
or
EMAIL: contact@stockreporter.de
HOMEPAGE: www.stockreporter.de
WEB PAGE: http://www.businesswire.com
GEOGRAPHY: NEW YORK
Today`s News On The Net - Business Wire`s full file on the Internet
with Hyperlinks to your home page.
HOMEPAGE: www.stockreporter.de
WEB PAGE: http://www.businesswire.com
GEOGRAPHY: NEW YORK
Today`s News On The Net - Business Wire`s full file on the Internet
with Hyperlinks to your home page.
Copyright © 1996, 1997, 1998 Stockpoint its data suppliers. All rights reserved. Unless specifically designated as real time, quotes are delayed at least 15 minutes for NASDAQ and 20 minutes for other exchanges. Please read our Terms and Conditions.
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Stockreporter.de Announces Investment Opinion on Hartcourt Companies
NEW YORK, Aug 11, 1999 (BUSINESS WIRE via COMTEX) --
Stockreporter.de Begins Coverage of the Hartcourt Companies (HRCT)
With a Strong Buy Recommendation and a Price Target of $9 Per Share
The Hartcourt Companies (OTC BB:HRCT) (Berlin: 900 009) today
received a strong buy recommendation from the Stockreporter.de, a
leading European financial internet publication at
www.stockreporter.de. The Stockreporter.de began coverage with a
conservative target price of $9 per share for the year 2000 at a
current share price of less than $1.20 offering a realistic short and
mid term potential of more than 600%.
All buy recommendations of the successful Stockreporter.de team
have shown - without any exception - an extraordinary share price
performance since Stockreporter.de has issued its recommendations for
the respective company. Thus the portfolio of Stockreporter.de is a
very successful and very reliable one, featuring e.g. FutureLink
Distribution (FLNK), Teltran International (TLTG), MonsterDaata.com
(MDDC), Antra Music Group (RECD), CancerOption.com (CAOP) and now
brand new The Hartcourt Companies (HRCT) which is going to be the next
extremely successful investment opportunity.
"The clear success of all our buy recommendations is of a big
importance to us and speaks for the quality of the companies
recommended by us," Torsten Prochnow from Stockreporter.de said today.
He continued: "In this connection we are particularly pleased to issue
today a strong buy recommendation for The Hartcourt Companies (HRCT).
We are strongly convinced that this company has an extremely strong
potential, and already now The Hartcourt Companies (HRCT) is making
clearly visible earnings per share. Therefore we strongly believe that
this company is going to belong to the best performing shares of the
OTC and BB segment." Torsten Prochnow added: "In our opinion this
share really deserves a strong buy recommendation and has enormous
potential from the next few weeks and months way into the year 2000."
The report includes the following information:
COMPANY OVERVIEW
Hartcourt started out 8 years ago as a manufacturing company,
producing a variety of products with plants in China, Mexico and the
U.S. Lack of focus and lack of financing caused the company to
restructure in 1998. The first step was placing all manufacturing
operations in Enova Holdings Inc. and spun it off as dividends to
shareholders. Hartcourt was left with $10 Million marketable
securities and no operation. The second step was to focus on the new
mission of Hartcourt, which is to become a leading Internet in China.
The Hartcourt team went to China, used their contacts, and signed 3
Joint Venture contracts with major Chinese firms. The third step is to
secure financing to complete the transactions. The end result will be
an Internet company with a revenue projected at $26 Million in 2000
and $145 Million in 2005. Contrary to most Internet operations,
Hartcourt`s operations are projected to be profitable on Year 1.
Hartcourt`s new international growth strategy was twofold. First,
the company focused on acquiring companies in electronics, industrial
distribution, and the communications industries, with a special
interest in developing markets in Asia. Second, once a business was
acquired, Hartcourt assisted in the growth of the subsidiary by
providing management with support, capital infusion, and strategic
alliances. In addition, the decision to divest itself of the China
facility provided the company with a firm asset base and cash flow to
support the company`s expansion plans. Using these strategies,
Hartcourt has evolved from a struggling company with revenues of
$74,000 in 1994 to a flourishing growth company with pro forma
revenues of over $20,000,000 in 1997. During this time, the capital
base rose from $2,000,000 to $37,000,000. Sales revenue for 1998
exceeded $23 million.
Since the sale of the China facility, and with the recent
acquisitions of Pego Systems, Inc. and the joint company of Electronic
Components and Systems, Inc. (ESC)/Pruzin Technologies, Inc.,
Hartcourt has become an impressive holding company combining several
small companies in the high-tech industry into one company large
enough to be competitive.
AMERICAN HOLDINGS
Hartcourt`s initial acquisition, Pego, is a 27-year-old
corporation that manufactures and distributes environmental and
filtration control equipment. This company, which dominates the
California, Arizona, and Nevada regions, gets its revenues from three
areas of operations: distribution of environmental and filtration
control equipment, custom-designed air and gas processing systems, and
equipment service for existing clients.
In 1997, Pego generated $6.6 million in sales and showed more
than $400,000 in profit. The company, which enjoys a competitive
advantage in its marketplace, has been growing at an annual rate of
10 percent. This established corporation has exclusive distribution
agreements with some of the country`s leading Fortune 500 companies,
including the Coca-Cola Company, Procter & Gamble, Mobil, and Arco, as
well as government installations such as Air Force bases and several
local municipalities.
Hartcourt`s second acquisition, Electronic Components and
Systems, Inc. (ECS)/Pruzin Technologies, had merged operations in 1988
for greater operating efficiency. The combined company has grown in
revenue from $300,000 to over $14 million in 1997.
Pruzin pioneered the technology of ball-grid array connection for
integrated circuits, which dramatically improves the efficiency of
most printed circuit boards. ECS specializes in high-tech
manufacturing and assembly of printed circuit boards, telephone cable
wires, and plastic injection. In addition, it has become the leading
manufacturer of cable reception and channel switching boxes for the
cable television industry as a result of its contract with General
Instruments. Other major customers include Intel and Motorola.
To further enhance the twofold focus of the company and to
strengthen the holdings of its shareholders, Dr. Alan Phan, President
of Hartcourt, has announced a separation of the company`s U.S. and
foreign interests and the creation of a new publicly held company. The
Nevada-based Enova Holdings Inc. (ENVA) will hold, develop, and seek
additional business opportunities in the United States. Enova shares
will be distributed to all existing Hartcourt shareholders - what
amounts to a stock split. "We are completing the Form 10-SB for
submittal to the SEC. We do not control the processing, so we cannot
give you an exact date for listing on OTC BB; but the average waiting
period is about 100 days. As Pego Systems is profitable and having
strong growth, together with the completion of 2 potential
acquisitions, the starting bid price for Enova shares should be
fantastic," Dr. Alan Phan, President and Chairman of the Board of
Hartcourt, said today. According to Dr. Phan, Hartcourt, the parent
company, will also seek additional opportunities and acquisitions in
China.
Hartcourt and China`s Internet
The number of Internet users in China was 4.2 million by the end
of June 1999, according to a survey conducted by Computer Network
Information Centre - almost six times the 620,000 users in October
1998. Only a small fraction of China`s 1.25 billion people currently
have access to the Internet, but growth in Internet use has been
explosive and industry analysts say the number of surfers could reach
seven million by 2001. In the coming millennium, this growth momentum
may hit more than 600 percent per year, Qian Hualin, vice president of
China Daily, noted in March 1999.
Hartcourt has completed negotiations with three major Internet
companies in China:
1. UAC Online Trading: UAC is the only firm allowed to use the
Chinese intranet called CHINAPAC to connect investors to the
brokerage houses for trade execution. It has contracts to extend
the service to at least 98 offices this year; and should be able
to connect all 4,000 brokerage offices in 3 years.
2. IPC Technology International: IPC is the representative of a
major state-owned Internet company in Beijing. It has the 5th
national license of ISP for China; and is guaranteed 200,000.
subscribers for its operation within 24 months.
3. Another company Stockreporter.de does not yet know the name of
(name withheld until announced by Hartcourt): This company is a
real time stock quote and financial data provider, who has
operated out of Hongkong for 14 years. It is like the Standard &
Poors of Hongkong. This company and UAC will be a perfect match
to launch a comprehensive Internet financial service for China.
The negotiation process is complicated due to the high
sensitivity of the Chinese government on matters which have political
impact. However, with Hartcourt`s past record on Chinese investments,
the government has extended great flexibility toward the company and
the mentioned agreements.
The reason for this prediction of rapid growth is the expectation
that the Chinese government will soon abolish much of the red tape now
surrounding the application for an Internet connection. If this
subscriber target is met, IPC revenues should grow to an estimated
$95 million, with a net of $14 million by December 2001.
These acquisitions by Hartcourt allow the company to have an
exclusive opportunity in the new but rapidly expanding commercial
Internet business in China. The Chinese Internet market historically
has been very hard to break into; many leading American and European
Internet companies have tried unsuccessfully. The open-door policy
initiated by the Chinese government 25 years ago has created a
situation where new opportunities emerge almost daily. Yet, this is
the first time that a foreign company will actually be allowed to
participate in state-owned assets, and could be the foundation of the
first time in China that there is a privately operated nationwide
Internet business.
"Subject to our ability to commit the necessary resources and
depending on the group`s ability to market and attract a high
percentage of China`s current population of 200 million potential
customers, the Chinese joint venture can buy out the government`s
position and effectively convert the venture into a privately owned
company and become Asia`s largest Internet provider," stated Dr. Phan.
"China is, and will continue to be, an enormous and lucrative market
for foreign businesses and investors alike."
FINANCING
Hartcourt is working on 2 separate financing structures: 1. A private
placement of $10 Million worth of HRCT shares:
Hartcourt has received an offer from a small banking firm for the
$10 Million equity. However, Hartcourt does not like the fee and
the discount percentage on the share price. Hartcourt is also
waiting on the due diligence result from a well-known bank. Dr.
Alan Phan`s trip this week to Hongkong is to finalize the banking
agreement, if they decide to go ahead. Meanwhile, 4 individual
investors have agreed to purchase a total of $3.5 Million if
Hartcourt undertakes to do its own offering (it will save
Hartcourt plenty of banking and commission fee). Overall, it is
not a question of whether Hartcourt will get the financing, but
which terms should Hartcourt accept from whom? Also, the
$3 Million credit line obtained from the $10 Million marketable
securities Hartcourt owns will be sufficient to complete the UAC
deal alone.
2. Convertible debts of $45 Million for the ISP Joint Venture:
Hartcourt has ongoing discussion with a major Hongkong investment
banking firm and with a telecom investment fund in New York. The
results should be clear by end of August. Meanwhile, other
investment banks have expressed interest, so there are many
alternatives to above firms. Please bear in mind that this
financing arrangement has nothing to do with the completion of
the UAC deal or the other deal.
Currently everybody is pushing Hartcourt to get the financing
done to help the share price, but according to Dr. Alan Phan,
Hartcourt will wait for the best deal from the highest quality
companies. One of Hartcourt`s mistakes in the past was its hasty
acceptance of expensive financing from low-quality people. "We will
not repeat this mistake," Dr. Alan Phan said today.
The Strategic Alliance And The Merger
Since the announcement of the UAC and IPC transactions, Hartcourt
has received many offers and proposals, including the outright
purchase of some small ISP companies in the U.S. Hartcourt has
discussed and planned to engage a well-known firm, specializing in
matching partners in hi-tech strategic alliances. "From the initial
responses, we will have one or two partners, who are major famous
Internet companies in the U.S. to help us with the technical
management. We should complete this step by October 1999. Meanwhile,
we have entered into serious discussion to acquire a sizable
profitable Internet firm to create a solid platform, technologically
and financially. If the deal is consummated, it will change the whole
perception on Hartcourt`s Internet capabilities," Dr. Alan Phan said
today.
CORPORATE MANAGEMENT
The management of Hartcourt (HRCT) is first class and consists of
Dr. Alan V. Phan, Mr. Leonard J. Romanna, and a highly skilled team of
industry experts. With this group, the Company is able to fulfill each
area of business required to manage this Company effectively. In
addition, the Company has access to other intellectual resources that
may be retained on an as-needed basis in the areas of technical
support, development, finance, and strategic planning:
o Dr. Alan V. Phan, CEO and Chairman of the Board: Dr. Phan has
over 30 years of experience in business management. He obtained
his academic training and degrees at Pennsylvania State
University and Sussex College of Technology. Executive Vice
President of Em Kay Group and Eisenberg Companies, he established
11 industrial projects in Asia and South America. Additionally,
Dr. Phan`s professional business experience includes real estate
development of over 200 homes. Due to Dr. Phan`s extensive
relationships in China, Hartcourt has been able to align itself
with the local government and businesses.
o Mr. Leonard J. Roman, Executive Vice President, Chief Financial
Officer and Director: Mr. Roman has 28 years of diversified
public and private business management experience having been a
member of senior management at Cosmar Corporation and Financial
Corporation of America, that during his tenure grew from
obscurity to become the largest in their categories. His
multi-faceted experience includes operations, finance as well as
administrative functions in the manufacturing, distribution and
the financial services industries. He is a CPA with Big Five
experience having been with Price Waterhouse for 5 years. Mr.
Roman earned his B.S. degree from St. John`s University.
Regarding the further development of the company`s human resources
and future recruiting of a new management team Dr. Alan V. Phan said
today: "First of all, the management of these 3 operations will be the
responsibilities of the Joint Venture partners. They are now
well-staffed with excellent and experienced Chinese engineers and
scientists, as well as international mangers and high-level
technocrats. On Hartcourt`s side, the first step is to strengthen the
Board of Directors with well-known celebrities from the hi-tech world.
We have invited and conducted negotiations with a few individuals.
These are news-makers in their own right. The second step is to select
a CEO who has experience in managing a-billion-dollar hi-tech
enterprise. We have engaged a head-hunting firm to do just that.
Furthermore, if we complete the above-mentioned merger with the
American Internet firm, we shall have over 50 hi-power `technies` on
our staff."
In this context another great fact was also announced by Dr. Alan V.
Phan today: "Conforming with our principle to work only with
high-quality people, we have engaged the largest financial relation
firm in the world. The announcement should come shortly. With a staff
of over 800, this PR firm will create a completely new image for
Hartcourt."
EVALUATION AND OUTLOOK The following projections estimated by
independent market experts according to Hartcourt`s revenue projections
are based on conservative assumptions. So we consider these figures to
be both very realistic and achievable: With approximately 17.6 Million
shares issued and outstanding Hartcourt is supposed to be profitable in
the year 2000 and to achieve substantial earnings of $0.30 per share in
the year 2000. Therefore we set our share price target to a least $9 at
a conservatively estimated PER of only 30 which in case of this
tremendous growth potential seems to be even too conservative.
On the whole it may be said that The Hartcourt Companies (HRCT)
possibly will be able to make even more profit in the year 2000 than we
expect. Consequently we would like to mention in advance that
Stockreporter.de might have to increase the profit expectations upon
availability of new improved earnings projections. According to these
facts we are strongly convinced that the share of The Hartcourt
Companies (HRCT) currently is drastically undervalued. Therefore we
believe that the Company is one of the most exciting companies to come
to our attention in recent years. Its enormous growth potential is both
dynamic and unlimited.
Last but not least we would like to mention an additional and very
important aspect: The management of the Company is currently beginning
to apply for a listing at the NASDAQ. So in particular, this
forthcoming listing of The Hartcourt Companies (HRCT) with regard to
the renowned NASDAQ will massively inspire the share price. Therefore
we believe especially this fact of taking the stock public to a major
stock exchange will bring a massive thrust of both new retail and new
institutional investors driving the share price into dimensions the
stock really deserves.
"As promised, we shall re-file the NASDAQ application once the share
price reaches $5. We believe that if we prove without any doubt that we
have the financing to carry out the contracts, the market will reward
us with the desired price. Furthermore, if the merger with the selected
Internet firm is realized, this goal could be reached sooner than
expected," Dr. Alan V. Phan, CEO and Chairman of the Board, said today.
He added: "The Hongkong GEM (Growth Enterprise Market) will start
accepting application in September, and we will be there. As for
Singapore, we are preparing the documents with our sponsors to apply to
SESDAQ."
Furthermore The Hartcourt Companies (HRCT) is already listed at the
Berlin Stock Exchange, the major European OTC stock exchange, to
increase the international exposure and to establish new investor
relations in Europe (the securities code is 900 009). All these
listings open the door for new major institutional investments by e.g.
national funds and investment bankers and will reduce the negative
influence day traders currently have. For that reason potential
investors have got only now the extremely unique and promising
opportunity to invest in the shares of The Hartcourt Companies (HRCT)
on a more than advantageous share price level.
In this context Dr. Alan V. Phan, CEO and Chairman of the Board, said
today: "I always believe that Hartcourt is a long play which eventually
pays off big for investors. However, I understand that market forces
and speculators could cause tremendous fluctuation to the stock price,
therefore, it is definitely not the stock for those who are interested
in short-term profit."
According to these facts and the great opportunities the new major
listings probably will offer we are strongly convinced that the shares
of The Hartcourt Companies (HRCT) is drastically undervalued at a
current price of less than $1.20 offering a short and mid term
potential of more than 600%. For this reason we believe that the HRCT
share currently is one of the most exciting and most promising
investment opportunities for both retail and institutional investors
and that the HRCT share is going to be one of the bestperforming micro
cap shares in the next weeks and months.
NOTICE The recommendation of The Hartcourt Companies (HRCT) was done on
an unsolicited basis. The complete recommendation and additional
information (e.g. coming soon an interview with the President and
Chairman) can be accessed at the Stockreporter.de web site at
www.stockreporter.de which is going to be the No. 1 Micro Caps and
OTC:BB site in Europe and especially in Germany. The site is completely
available in both languages, German and English. Any Stockreporter.de
micro cap recommendation still includes a highdegree of risk and is at
the investor`s individual and own risk. Therefore no claim for any kind
of warranty can and will be accepted by the Stockreporter.de.
If you have any further questions regarding this buy recommendation or
any other inquiry or suggestion, please do not hesitate to contact
Stockreporter.de at any time. We appreciate it very much to stay in
close contact to both institutional and private investors and OTC and
BB companies.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Stockreporter.de, New York
Torsten Prochnow, +49-172-4031383
or
Dennis C. Hass, +49-172-4062621
or
EMAIL: contact@stockreporter.de
HOMEPAGE: www.stockreporter.de
WEB PAGE: http://www.businesswire.com
GEOGRAPHY: NEW YORK
Today`s News On The Net - Business Wire`s full file on the Internet
with Hyperlinks to your home page.
HOMEPAGE: www.stockreporter.de
WEB PAGE: http://www.businesswire.com
GEOGRAPHY: NEW YORK
Today`s News On The Net - Business Wire`s full file on the Internet
with Hyperlinks to your home page.
Copyright © 1996, 1997, 1998 Stockpoint its data suppliers. All rights reserved. Unless specifically designated as real time, quotes are delayed at least 15 minutes for NASDAQ and 20 minutes for other exchanges. Please read our Terms and Conditions.
Hi Leute,
habe diese mail auf einem amerikanischem Board aufgegabelt.
Sie ist von heute morgen. Sie besagt, dass es mündliche Absprachen mit einem grossen Investmenthaus über die Finanzierung der Aquisitionen
gibt, dass es aber noch einige Wochen dauert diese schriftlich zu fixieren:
It just gives an update on a few items. The first, is that the final details of
the third acquisition have been hammered out and an announcement
should be out in "a few days".
The second item that comes to mind is regarding the financing. Phan
says that the large investment bank IS interested. But, since they will
take 30-45 days to finalize anything, HRCT is going to go ahead and
take the $5 mil funding that he has lined up already to close the UAC
and 3rd acquisition deals while the investment bank puts together the
larger financing package.
The third item is that, if I remember correctly, the agreement to buyout
the going concern US ISP, current rev of $60 mil and profitable, is
maturing. Sounds like the terms have been agreed to verbally and now
must be put in writing. Expects to announce in "next few weeks".
He updates a few other items, then closes with something along the
lines of:
"All other projects are still ongoing and no further update on them at this
time."
Bis dann AlexB
habe diese mail auf einem amerikanischem Board aufgegabelt.
Sie ist von heute morgen. Sie besagt, dass es mündliche Absprachen mit einem grossen Investmenthaus über die Finanzierung der Aquisitionen
gibt, dass es aber noch einige Wochen dauert diese schriftlich zu fixieren:
It just gives an update on a few items. The first, is that the final details of
the third acquisition have been hammered out and an announcement
should be out in "a few days".
The second item that comes to mind is regarding the financing. Phan
says that the large investment bank IS interested. But, since they will
take 30-45 days to finalize anything, HRCT is going to go ahead and
take the $5 mil funding that he has lined up already to close the UAC
and 3rd acquisition deals while the investment bank puts together the
larger financing package.
The third item is that, if I remember correctly, the agreement to buyout
the going concern US ISP, current rev of $60 mil and profitable, is
maturing. Sounds like the terms have been agreed to verbally and now
must be put in writing. Expects to announce in "next few weeks".
He updates a few other items, then closes with something along the
lines of:
"All other projects are still ongoing and no further update on them at this
time."
Bis dann AlexB
P.S.
Phan ist am Samstag(14.8.) zurückgekommen.
Nachrichten werden heute mit Handelsbeginn in USA kommen.
Habe mir eben noch ein paar Stücke ins Depot gelegt.
AlexB
Phan ist am Samstag(14.8.) zurückgekommen.
Nachrichten werden heute mit Handelsbeginn in USA kommen.
Habe mir eben noch ein paar Stücke ins Depot gelegt.
AlexB
Habe dies eben auch noch aufgegabelt.Email von Phan an irgendwen.
Dear Amy:
Thanks for your help and advice. I will be back in the US on 8/14 and will
prepare a report to shareholders. Will bring more news in the next few
weeks.
Keep in touch,
Best, Alan Phan
> Dear Hartcourt,
Dear Amy:
Thanks for your help and advice. I will be back in the US on 8/14 and will
prepare a report to shareholders. Will bring more news in the next few
weeks.
Keep in touch,
Best, Alan Phan
> Dear Hartcourt,
HARTCOURT COMPANIES INC (BB:HRCT) files SEC Form 10QSB
hallo leute,
ich habe den nachricht von quote.com geholt. kann jemand von euch das übersetzen.
danke
dicom1
EDGAR Online, Monday, August 16, 1999 at 15:41
Item 2. Management`s Discussion and Analysis of Financial Condition and Results
of Operations:
As discussed in the Company`s annual report filed on Form 10-KSB, during 1998
the Company continued its previously implemented plan to acquire operating
companies that were in established industries with a history of growth. However,
as a result of continued losses, particularly at the Company` Electronic
Components and Systems, Inc. subsidiary the recorded significant impairments to
its goodwill in the 4th quarter of 1999. In the 1st quarter of 1998, as more
fully described in Part I, Item 1, Note 1 to Notes to Consolidated Financial
Statements, the Company settled certain matters of litigation and entered into
certain restructuring transactions. In connection with the restructuring, the
Company formed a new subsidiary, Enova Holdings, Inc.("Enova" and contributed
it`s remaining investment in its two operating subsidiaries Electronic
Components and Systems, Inc. and Pego Systems, Inc. to Enova. Effective March
31, 1999, the Company contributed its investment in Enova to its shareholders.
As a result, Hartcourt effectively became a shell corporation with no operations
and its principal assets being the investment securities received in exchange
for its investment in the Peony Gardens condominium project. Accordingly, the
operations presented reflect the Company`s equity in earnings / loss of Enova
and its subsidiaries through the date of distribution.
Results of Operations:
As result of the restructuring, the Company recorded no revenue for the first
six months of 1999, while the Company=s revenue for the first six months of 1998
was $10,672,902. The equity in earnings / loss for the first six months of 1999
was a loss of $28,000 comprised of earnings at Pego of $117,000 and a loss at
ECS of $145,000 through March 31, 1999.
Corporate selling, general and administrative (SGA) expenses were $655,160
attributed to the costs of operating the holding Company, seeking new business
opportunities and associated with the restructuring.
Liquidity and Capital Resources:
During the first half of 1999, the company raised $87,935 through the sale of
common stock and debentures compared to the first half of 1998, where the
Company sold approximately $1,125,002 of its equity securities. These proceeds
were used for working capital needs. The current ratio at June 30, 1999 was 1.4
compared to .9 at December 31, 1998. Working capital was $95,002 at June 30,1999
and ($887,126) at December 31, 1998.
The Company`s operating activities used cash of approximately $617,000 for the
six months ended June 30, 1999. The Company had an operating loss, before
depreciation and amortization of approximately $664,000
Cash provided by investing activities for the six months-ended June 30,1999 was
approximately $6.1 million which was offset by cash used in financing activities
of $5.9 million. The transactions herein resulted substantially as a result of
the litigation settlement and the corporate restructuring more fully described
in Part I, Item 1, Note 1.
As a result of the above activities, the company experienced a decrease in cash
of $384,000 for the first six months of 1999.
[HARTCORT10QSB:JUNE3099]-1
13
Item 2. (cont.)
Management`s Discussion and Analysis of Financial Condition and Results of
Operations: (Continued)
Business Risks:
As discussed previously, the Company is substantially a shell but intends to
seek out and acquire profitable operating businesses. However, no definitive
agreements have been reached. If any acquisition agreements are reached in the
near term, the Company can make no assurances that it will be able to obtain the
financing necessary to complete the any transaction.
Competition:
Since the Company has no current operations, it does not have any direct across
the board competitors, but may have competition in the future within the
industries for which it may acquire operations.
Management of Growth:
If the Company is successful in implementing its growth strategy, the Company
believes it could undergo a period of rapid growth that could place a
significant strain on its management, financial and other resources. The
Company`s ability to manage its growth will require it to continue to improve
its operational and financial systems and to motivate and effectively manage its
employees. If the Company grows it will have to implement new financial,
budgeting, management information and internal control systems. The Company`s
success will depend upon its ability to attract and retain highly skilled
personnel. There can be no assurance that the Company will be successful in
attracting and retaining key management, technical, marketing and sales
personnel. Its failure to do so would materially and adversely affect the
Company`s business and results of operations.
Recently, management has been focusing its efforts on pursuing the corporate
objective of becoming an Internet-related company with investments in China and
Asia through mergers and acquisitions. To this end, the Company is in the
process of finalizing and securing financing for three separate ventures. Each
transaction is subject to the Company`s ability to obtain funding for the
transaction. There can be no assurances that the Company will be successful in
obtaining the funding for one or all of the transactions..
In the first transaction, the Company has agreed to purchase 35% of UAC Online
Stock Trading Ltd ("UAC" for $2.5 million. UAC is a company providing on-line
trade execution for stock brokerage firms in China via an intranet service
called CHINAPAC which is owned by China Telecom. UAC intends to use the cash
received from the Company to complete the testing and installation of its
systems into all 98 offices of Hua Xia Securities in China. Current plans are
for all 98 offices of Hoa Xia Securities to be operational within 6 months.
In the next tranaction, the Company has agreed to a joint venture with IPC
Technology International Ltd. ("IPC" to provide Internet Connections and
Services on a nation-wide basis in China. In the agreement, the Company with
provide the joint venture with $5 million of equity funding, in exchange for a
35% ownership of the joint venture, and arrange for $45 million of debt
financing for the joint venture to build the required backbone and operational
infrastructure . IPC will contribute to the joint venture the national ISP
license and an agreement with China Telecom.
[HARTCORT10QSB:JUNE3099]-1
14
Item 2. (cont.)
Management`s Discussion and Analysis of Financial Condition and Results of
Operations (Continued)
Management of Growth: (cont.)
In the third transaction, the Company has agreed to purchase 58.5% of Financial
Telecom Ltd. ("FTL" for $3 million in cash and stock. FTL is a provider of
real-time quotes for Hong Kong listed companies and has been in business 14
years. Quotes and related data is transmitted via computer terminals, cable
boxes, custom-designed PDA and digital pagers.
Impact of Year 2000
The Year 2000 Issue is the result of computer programs being written using two
digits rather than four to define the applicable year. Any of the Company`s
computer programs that have time-sensitive software may recognize a date using
"00" as the year 1900 rather than the year 2000. This could result in a system
failure or miscalculations causing disruption of normal business activities. As
the Company has no current operations, there is no potential impact as a result
of the Year 2000.
To view the full document, go to:
HARTCOURT COMPANIES INC 10QSB
For other Edgar reports on HARTCOURT COMPANIES INC (HRCT), go to:
List of Edgar-Online reports for HRCT
Companies or Securities discussed in this article:
Symbol
Name
BB:HRCT
Hartcourt Cos Inc
hallo leute,
ich habe den nachricht von quote.com geholt. kann jemand von euch das übersetzen.
danke
dicom1
EDGAR Online, Monday, August 16, 1999 at 15:41
Item 2. Management`s Discussion and Analysis of Financial Condition and Results
of Operations:
As discussed in the Company`s annual report filed on Form 10-KSB, during 1998
the Company continued its previously implemented plan to acquire operating
companies that were in established industries with a history of growth. However,
as a result of continued losses, particularly at the Company` Electronic
Components and Systems, Inc. subsidiary the recorded significant impairments to
its goodwill in the 4th quarter of 1999. In the 1st quarter of 1998, as more
fully described in Part I, Item 1, Note 1 to Notes to Consolidated Financial
Statements, the Company settled certain matters of litigation and entered into
certain restructuring transactions. In connection with the restructuring, the
Company formed a new subsidiary, Enova Holdings, Inc.("Enova"
and contributedit`s remaining investment in its two operating subsidiaries Electronic
Components and Systems, Inc. and Pego Systems, Inc. to Enova. Effective March
31, 1999, the Company contributed its investment in Enova to its shareholders.
As a result, Hartcourt effectively became a shell corporation with no operations
and its principal assets being the investment securities received in exchange
for its investment in the Peony Gardens condominium project. Accordingly, the
operations presented reflect the Company`s equity in earnings / loss of Enova
and its subsidiaries through the date of distribution.
Results of Operations:
As result of the restructuring, the Company recorded no revenue for the first
six months of 1999, while the Company=s revenue for the first six months of 1998
was $10,672,902. The equity in earnings / loss for the first six months of 1999
was a loss of $28,000 comprised of earnings at Pego of $117,000 and a loss at
ECS of $145,000 through March 31, 1999.
Corporate selling, general and administrative (SGA) expenses were $655,160
attributed to the costs of operating the holding Company, seeking new business
opportunities and associated with the restructuring.
Liquidity and Capital Resources:
During the first half of 1999, the company raised $87,935 through the sale of
common stock and debentures compared to the first half of 1998, where the
Company sold approximately $1,125,002 of its equity securities. These proceeds
were used for working capital needs. The current ratio at June 30, 1999 was 1.4
compared to .9 at December 31, 1998. Working capital was $95,002 at June 30,1999
and ($887,126) at December 31, 1998.
The Company`s operating activities used cash of approximately $617,000 for the
six months ended June 30, 1999. The Company had an operating loss, before
depreciation and amortization of approximately $664,000
Cash provided by investing activities for the six months-ended June 30,1999 was
approximately $6.1 million which was offset by cash used in financing activities
of $5.9 million. The transactions herein resulted substantially as a result of
the litigation settlement and the corporate restructuring more fully described
in Part I, Item 1, Note 1.
As a result of the above activities, the company experienced a decrease in cash
of $384,000 for the first six months of 1999.
[HARTCORT10QSB:JUNE3099]-1
13
Item 2. (cont.)
Management`s Discussion and Analysis of Financial Condition and Results of
Operations: (Continued)
Business Risks:
As discussed previously, the Company is substantially a shell but intends to
seek out and acquire profitable operating businesses. However, no definitive
agreements have been reached. If any acquisition agreements are reached in the
near term, the Company can make no assurances that it will be able to obtain the
financing necessary to complete the any transaction.
Competition:
Since the Company has no current operations, it does not have any direct across
the board competitors, but may have competition in the future within the
industries for which it may acquire operations.
Management of Growth:
If the Company is successful in implementing its growth strategy, the Company
believes it could undergo a period of rapid growth that could place a
significant strain on its management, financial and other resources. The
Company`s ability to manage its growth will require it to continue to improve
its operational and financial systems and to motivate and effectively manage its
employees. If the Company grows it will have to implement new financial,
budgeting, management information and internal control systems. The Company`s
success will depend upon its ability to attract and retain highly skilled
personnel. There can be no assurance that the Company will be successful in
attracting and retaining key management, technical, marketing and sales
personnel. Its failure to do so would materially and adversely affect the
Company`s business and results of operations.
Recently, management has been focusing its efforts on pursuing the corporate
objective of becoming an Internet-related company with investments in China and
Asia through mergers and acquisitions. To this end, the Company is in the
process of finalizing and securing financing for three separate ventures. Each
transaction is subject to the Company`s ability to obtain funding for the
transaction. There can be no assurances that the Company will be successful in
obtaining the funding for one or all of the transactions..
In the first transaction, the Company has agreed to purchase 35% of UAC Online
Stock Trading Ltd ("UAC"
for $2.5 million. UAC is a company providing on-linetrade execution for stock brokerage firms in China via an intranet service
called CHINAPAC which is owned by China Telecom. UAC intends to use the cash
received from the Company to complete the testing and installation of its
systems into all 98 offices of Hua Xia Securities in China. Current plans are
for all 98 offices of Hoa Xia Securities to be operational within 6 months.
In the next tranaction, the Company has agreed to a joint venture with IPC
Technology International Ltd. ("IPC"
to provide Internet Connections andServices on a nation-wide basis in China. In the agreement, the Company with
provide the joint venture with $5 million of equity funding, in exchange for a
35% ownership of the joint venture, and arrange for $45 million of debt
financing for the joint venture to build the required backbone and operational
infrastructure . IPC will contribute to the joint venture the national ISP
license and an agreement with China Telecom.
[HARTCORT10QSB:JUNE3099]-1
14
Item 2. (cont.)
Management`s Discussion and Analysis of Financial Condition and Results of
Operations (Continued)
Management of Growth: (cont.)
In the third transaction, the Company has agreed to purchase 58.5% of Financial
Telecom Ltd. ("FTL"
for $3 million in cash and stock. FTL is a provider ofreal-time quotes for Hong Kong listed companies and has been in business 14
years. Quotes and related data is transmitted via computer terminals, cable
boxes, custom-designed PDA and digital pagers.
Impact of Year 2000
The Year 2000 Issue is the result of computer programs being written using two
digits rather than four to define the applicable year. Any of the Company`s
computer programs that have time-sensitive software may recognize a date using
"00" as the year 1900 rather than the year 2000. This could result in a system
failure or miscalculations causing disruption of normal business activities. As
the Company has no current operations, there is no potential impact as a result
of the Year 2000.
To view the full document, go to:
HARTCOURT COMPANIES INC 10QSB
For other Edgar reports on HARTCOURT COMPANIES INC (HRCT), go to:
List of Edgar-Online reports for HRCT
Companies or Securities discussed in this article:
Symbol
Name
BB:HRCT
Hartcourt Cos Inc
Developed by Bejing UAC Stcok Exchange Online Co, Ltd. and set up by Bureau of Data Communication of China Telecom and the UAC, UAC 162
Network covers the entire country. Users can dial 162 anywhere in the country to access the network to trade stocks online; check real time quotes,
trading confirmation, and account information; and transfer fund. Users will enjoy secure, high speed, never-busy quality service on the China Public
Switched Data Network (CHINAPAC).
Whether you are home or traveling, 162 will always keep you connected to the stock market. Right now, Hua Xia Zhong Guan Cun Brokerage Office
is online and fully operational, other Hua Xia brokerage offices will be online soon. Please consult your own brokerage office to find out when the
service will be available in your area.
NEWS: HARTCOURT has agreed to acquired 35% of UAC. (see detail)
Network covers the entire country. Users can dial 162 anywhere in the country to access the network to trade stocks online; check real time quotes,
trading confirmation, and account information; and transfer fund. Users will enjoy secure, high speed, never-busy quality service on the China Public
Switched Data Network (CHINAPAC).
Whether you are home or traveling, 162 will always keep you connected to the stock market. Right now, Hua Xia Zhong Guan Cun Brokerage Office
is online and fully operational, other Hua Xia brokerage offices will be online soon. Please consult your own brokerage office to find out when the
service will be available in your area.
NEWS: HARTCOURT has agreed to acquired 35% of UAC. (see detail)
eCommerce in Asien:
Weiterhin im Blickpunkt des Interesses liegt der asiatische Raum. Dies ist
sicherlich auf die hohe Bevölkerungsdichte und die, was das „Internet“
betrifft, noch unausgereifte und auszubauende Infrastruktur rückzuführen.
Wohl jeder, der die extremen Kurssteigerungen der Internetwerte der westlichen Welt verpasst, oder zu spät registriert hat, hofft auf die frühzeitige Entdeckung, einer asiatischen „Aol“ oder „Yahoo“. Intressant in diesem Zusammenhang ist, daß Analysten für die Entwicklung des eCommerce im asiatischen Raum eine Verdopplung auf 20 Milliarden Dollar für dieses Jahr, für das Jahr 2000 sogar 42 Milliarden Dollar erwarten. Gemäß einer Recherche der Gartner Group, sind aktuell 12 Millionen Asiaten ans Internet angeschlossen. Diese Zahl soll bis auf 90 Millionen im Jahr 2003 ansteigen.
In diesem Zusammenhang bleibt zu erwähnen, daß Hartcourt (HRCT, 900009) gestern um 21,55% zulegen konnte. HRCT, ehemals im Bereich der Umwelttechnologie tätig, schickt sich momentan an, die Umstrukturierung zum Venture Capital Unternehmen für den asiatischen Raum, abzuschliessen. Momentan kann der Wert auch in Deutschland um 25,44% zulegen und notiert
Weiterhin im Blickpunkt des Interesses liegt der asiatische Raum. Dies ist
sicherlich auf die hohe Bevölkerungsdichte und die, was das „Internet“
betrifft, noch unausgereifte und auszubauende Infrastruktur rückzuführen.
Wohl jeder, der die extremen Kurssteigerungen der Internetwerte der westlichen Welt verpasst, oder zu spät registriert hat, hofft auf die frühzeitige Entdeckung, einer asiatischen „Aol“ oder „Yahoo“. Intressant in diesem Zusammenhang ist, daß Analysten für die Entwicklung des eCommerce im asiatischen Raum eine Verdopplung auf 20 Milliarden Dollar für dieses Jahr, für das Jahr 2000 sogar 42 Milliarden Dollar erwarten. Gemäß einer Recherche der Gartner Group, sind aktuell 12 Millionen Asiaten ans Internet angeschlossen. Diese Zahl soll bis auf 90 Millionen im Jahr 2003 ansteigen.
In diesem Zusammenhang bleibt zu erwähnen, daß Hartcourt (HRCT, 900009) gestern um 21,55% zulegen konnte. HRCT, ehemals im Bereich der Umwelttechnologie tätig, schickt sich momentan an, die Umstrukturierung zum Venture Capital Unternehmen für den asiatischen Raum, abzuschliessen. Momentan kann der Wert auch in Deutschland um 25,44% zulegen und notiert
Charttechnisch sieht\\\\\\\`s schlecht aus. Zur Zeit 1,25$. 38-tage-linie durchbrochen. Schätze Fall auf ca 1$. Längerfristiger Aufwärtstrend ist bis 0,75 noch in Takt. Umsätze fallend. Hab heute Mittag ein Hauptteil noch gut verkauft. Halt den anderen aber, weil sich Chance und Risiko die Waage halten. Phan ist mir etwas zu Aktionärs-nah. Namensänderungen sollten Sache der PR Firma bleiben, nicht des Investors. Doch gefällt mir die Idee, die vielleicht künftige E-Trade China\\\\\\\`s entdeckt zu haben. Irgendwer \\\\\\\`ne Vorstellung, welche $60 MIO e-commerce company das sein könnte und mit welchem GROSSEN Ami-Unternehmen man sich zusammentun soll. Übrigends: schrecklich tot alle boards ausser bei RB
AUS RAGING BULL
emails i got from Dr. Phan:
Dear John:
I am waiting for the official words. First, they said only non-reporting
companies, now, they said all OTC companies. However, the effect should not
be
that big, as we shall have 2 good news coming out very soon; and the merger
will make us NASDAQ-eligible anyway.
Just be patient. We are on schedule; and will get there.
Best, Alan Phan
> Is it true that hrct is going to be delisted in Berlin? Thanks, John
Dear John:
Here is a reply to another shareholder on the same subject. Pleased to share
with you:
^ First, UAC Online Stock Trading Inc. is using the Chinapac intranet of China
Telecom to execute the transactions. Therefore, whatever law and regulation
the
Chinese is trying to enforce does not apply to UAC. Second, Financial Telecom
Ltd (FTL) is a Hongkong corporation with all of its operations in Hongkong.
Again, it has nothing to do with FTL.
However, let me explain further on the political situation in China. Minister
Wu of Ministry of Information Industry offered to resign after the Prime
Minister went to the US last April and offered big concession on the foreign
investment in telecom industry (up to 49 percent) as
admission price to WTO.
The Americans did not accept the deal, so everything stayed the same. Minister
Wu is considered the hard-liner on the Chinese industry protection issue. For
the last two years, Minister Wu has repeated the threat to enforce the ban on
foreign investments 5 times; and nothing has been done. Most announcements
came
right before the WTO negotiation sessions. I believe this announcement is no
different from previous ones. Everything will proceed as usual, until the WTO
agreement is signed (around March 2000) and the foreign investment will be
allowed at a much better ratio, maybe 50%.
For the time being, Hartcourt will not be effected by any enforcement. By early
next year, when our national ISP is kicking into place; the situation will be
much clearer; and we exepect smooth sailing ahead. This recent announcement
might affect temporarily companies like sohu.com (10% owned by Dow Jones)
or
sina.com (20% owned by American investors) or china.com (trying to enter the
Chinese ISP market) or other companies who are operating ISP^s or
E-Commerce
inside China. But again, it has NO effect on Hartcourt.
emails i got from Dr. Phan:
Dear John:
I am waiting for the official words. First, they said only non-reporting
companies, now, they said all OTC companies. However, the effect should not
be
that big, as we shall have 2 good news coming out very soon; and the merger
will make us NASDAQ-eligible anyway.
Just be patient. We are on schedule; and will get there.
Best, Alan Phan
> Is it true that hrct is going to be delisted in Berlin? Thanks, John
Dear John:
Here is a reply to another shareholder on the same subject. Pleased to share
with you:
^ First, UAC Online Stock Trading Inc. is using the Chinapac intranet of China
Telecom to execute the transactions. Therefore, whatever law and regulation
the
Chinese is trying to enforce does not apply to UAC. Second, Financial Telecom
Ltd (FTL) is a Hongkong corporation with all of its operations in Hongkong.
Again, it has nothing to do with FTL.
However, let me explain further on the political situation in China. Minister
Wu of Ministry of Information Industry offered to resign after the Prime
Minister went to the US last April and offered big concession on the foreign
investment in telecom industry (up to 49 percent) as
admission price to WTO.
The Americans did not accept the deal, so everything stayed the same. Minister
Wu is considered the hard-liner on the Chinese industry protection issue. For
the last two years, Minister Wu has repeated the threat to enforce the ban on
foreign investments 5 times; and nothing has been done. Most announcements
came
right before the WTO negotiation sessions. I believe this announcement is no
different from previous ones. Everything will proceed as usual, until the WTO
agreement is signed (around March 2000) and the foreign investment will be
allowed at a much better ratio, maybe 50%.
For the time being, Hartcourt will not be effected by any enforcement. By early
next year, when our national ISP is kicking into place; the situation will be
much clearer; and we exepect smooth sailing ahead. This recent announcement
might affect temporarily companies like sohu.com (10% owned by Dow Jones)
or
sina.com (20% owned by American investors) or china.com (trying to enter the
Chinese ISP market) or other companies who are operating ISP^s or
E-Commerce
inside China. But again, it has NO effect on Hartcourt.
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