HARTCOURT WKN 900009...ein brodelnder Vulkan...
Monday June 16, 2:47 am ET
Higher Standard of Corporate Governance is Objective of Directors
LOS ANGELES, June 16 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: 900009), www.hartcourt.com , today announced that it has filed the Proxy Statement with the SEC that will also be distributed to all shareholders. The 2003 Annual Shareholder Meeting will be held on August 22nd, 2003 at 10 am at the Country Inn & Suites Hotel Orlando Airport located at 5440 Forbes Place, Orlando, Florida 32812.
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Shareholders with registered shares at Signature Stock Transfer will be sent a copy of the Proxy Statement directly. Those who hold shares under street names by brokerage firms should obtain the Proxies from their brokers. The Proxy Statement will also be available for download at Hartcourt Web site, www.hartcourt.com , or will be sent directly upon specific request.
The proposed candidates for the Board of Directors consist of 4 independent directors and 1 management officer. The main objective of the new Board is to implement stronger corporate governance for the company, beyond what is required by the Sarbanes-Oxley Act. The Board will concentrate on the 7 core areas of governance: discipline, transparency, independence, accountability, responsibility, fairness and social responsibility.
Mr. Goeffrey Wei, Director and Chairman of the Audit Committee, said, "We are strengthening the internal audit control and report of Hartcourt and all subsidiaries by doubling the number of auditors as well as implementing new accounting procedures and risk management system. It will ensure timely and accurate filings in the future for Hartcourt."
Mr. David Chen, Hartcourt's President and CEO, comments, "We are continuing to make important progress in our operation. Substantial improvements in revenue and profit thanks to past and future acquisitions will be recorded in our Q2 report. It's time we consolidate this financial performance on a solid foundation of corporate governance. We will manage Hartcourt according to the highest standard and tradition of a blue-chip company."
About Hartcourt
The Hartcourt Companies, Inc. is an investment holding and corporate development company focusing on the acquisition of private companies within high-growth industries in China. Hartcourt's business strategy is to bring together a group of complementary companies, add substantial value in terms of financial restructuring, strategic planning and corporate governance to enable these subsidiaries to fully realize the value of their assets and become public companies. Hartcourt has strategic investments and operating management control in 3 leading companies in the area of IT product marketing, retail, and distribution. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com .
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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Source: The Hartcourt Companies, Inc.
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hat lange genug konsoldiert.news von heute,hoffe es geht nun nach norden.
Monday June 16, 11:06 am ET
CEO Says Lawsuit Won't Affect Hartcourt Operations
LOS ANGELES, June 16 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), www.hartcourt.com, today announced that it has preliminarily reviewed the civil complaint filed by the Securities and Exchange Commission against Hartcourt and its Chairman on some business activities dated back in 1999.
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The company strongly believes that it has not done anything wrong and will vigorously defend the lawsuit. Its legal counsel believes that the allegations are baseless and the company will prevail in Court.
Dr. Alan Phan, Hartcourt's Chairman, comments, " We look forward to our day in Court so we could prove to the juror that the lawsuit is without merit. Everything we did was legal, truthful, fully-disclosed and taken solely in the interest of our shareholders. Personally, I felt that this is a character assassination. I donated to Hartcourt 5 Million shares in 2001 and I accepted an annual salary of $1 in 2000 and 2002 to help out the cash flow etc ... To accuse me of anything unethical is beyond imagination."
Mr. David Chen, Hartcourt's President and CEO, said," I joined Hartcourt in 2002 so I cannot comment much on a 4-year old issue. I believe that our legal team will present a formidable Hartcourt position to the juror, one or two years down the road. Meanwhile, all our Chinese partners have shown strong support for the company and will increase their effort to bring about better financial results for 2003. Since the SARS epidemic has subsided, we will also increase our road trips to complete more acquisitions."
About Hartcourt
The Hartcourt Companies, Inc. is an investment holding and corporate development company focusing on the acquisition of private companies within high-growth industries in China. Hartcourt's business strategy is to bring together a group of complimentary companies, add substantial value in terms of financial restructuring, strategic planning and corporate governance to enable these subsidiaries to fully realize the value of their assets. Hartcourt has strategic investments and operating management control in 3 leading companies in the area of IT product marketing, retail, and distribution. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com .
Folgendes halte ich für sehr interessant:
I donated to Hartcourt 5 Million shares in 2001 and I accepted an annual salary of $1 in 2000 and 2002 to help out the cash flow
Das nenn ich vorbildlich!
hartmoneygrüsse
P.S. Da sollten sich einige Vorstände eine Scheibe abschneiden!
HARTCOURT COMPANIES INC. SHARES DL -, 001 Frankfurt 900009 0,52 +0,05 +10,64% 136.800,50 19:34/17.06.
Berlin-Bremen 900009 0,48 +0,02 +4,35% 15.850,00 19:36/17.06.
XETRA 900009 0,47 -0,13 -21,67% 4.700,00 13:28/16.06.
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HARTCOURT COMPANIES INC. SHARES DL -, 001 Frankfurt 900009 0,53 +0,01 +1,92% 20.419,82 10:17/18.06
@stratos
Richtung 1 Euro? Das wäre perfekt, wäre zumindest mal wieder Zeit dafür....
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Select a security's symbol for a quote summary. As of 6/17/2003 7:24:00 PM
NASDAQ : Ten Most Declined Active Share Volume Advanced
g.alle werte die in asien tätig sind,waren gestern der hype in usa.
HARTCOURT COMPANIES INC. SHARES DL -, 001 Frankfurt 900009 0,53 +0,01 +1,92% 101.471,90 19:34/18.06.
Berlin-Bremen 900009 0,53 +0,05 +10,42% 11.930,00 16:16/18.06.
XETRA 900009 0,45 -0,02 -4,26% 110,70 13:46/18.06
TODAYS NEWS:
June 18, 2003
HARTCOURT COMPANIES INC (HRCT.OB)
form 8-K
Item 2. Acquisition or Disposition of Assets
On February 14, 2003, The Hartcourt Companies, Inc., a Utah
Corporation (Registrant), signed a definitive agreement to purchase of
45% of all of the interest of HuaQing Corporation Development Co. Ltd.
and HuaQing Economics Development Co. Ltd. ("HuaQing"), for a total
consideration of $2,202,545. The purchase price will be paid by
issuance of 15,960,474 restricted common shares of the Registrant.
HuaQing, founded in 1992 in Shanghai, China, specializes in
the niche DIY (do-it-yourself) PC marketing and distribution. The
company owns and operates 11 DIY stores in Shanghai area, helping
customers build their own PCs with components, technology and after
sales support provided by HuaQing. Huaqing was officially promoted as
one of the top 100 Hi-Tech enterprises by the Shanghai Government's
Science and Technology Commission in 2001 and 2002. It was recently
voted by IDG's Computer World (China) as one of the Top 100 Computer
Marketing Companies in China.
The Registrant does not intend any changes in management and
will operate Huaqing as a subsidiary of the Company.
Item 7. Financial Statements and Exhibits
A. Financial Statements of business acquired: Page
1. Auditor's Report F-1
2. Balance Sheets at December 31, 2002 and 2001 F-2
3. Income Statements for the years ended
December 31, 2002 and 2001 F-3
B. Pro forma financial information (unaudited): 1. Pro forma Consolidated Balance Sheets at
December 31, 2002 F-4
2. Pro forma consolidated Statements of Operations
as of December 31, 2002 F-6
3. Notes to the Pro forma consolidated Financial
Statements for the year ended December 31, 2002 F-8
C. Exhibits: 1. Press Release of Hartcourt Companies, Inc. dated
February 18, 2003. F-9
2. Sales and purchase agreement of purchasing of 45%
of all of the interest of HuaQing Corporation
Development Co. Ltd. and HuaQing Economics
Development Co. Ltd. F-9
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HARTCOURT COS INC NEW NASDAQ OTC BBS 2410339 0,60 -0,05 -7,69% 191.678,00 18:58/19.06.
HARTCOURT COMPANIES INC. SHARES DL -, 001 Frankfurt 900009 0,50 -0,03 -5,66% 40.929,36 18:54/19.06.
Berlin-Bremen 900009 0,52 -0,01 -1,89% -- 09:06/19.06
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Loss from discontinued operations. Hartcourt discontinued the operation of ETLK, HCTV and Topomedia during 2002 and incurred $1,020,252 in losses from discontinued operations. The loss in 2001 represents the losses from discontinued operation of UAC exchange. ( Aber das wussten ja die Profis schon ! )
Net sales and cost of sales. The Company recorded net sales of $1,137,011 in year 2002, compared to $10,621,205 in 2001.....The significant drop in sales of 2002 when compared to 2001 is mainly due to the fact that Hartcourt has disposed ETLK of in October 2002. The sales of Elephant Talk covered 72% more of the total sales in 2001 ( ja das wussten wir ja bestimmt auch schon alle )
As shown in the accompanying financial statements, Hartcourt incurred net losses of $2,550,002 and $5,329,408 for the years ended December 31, 2002 and 2001, respectively. In addition, Hartcourt's working capital deficit of $2,155,058 is not adequate to meet its minimum monthly expenses. These factors, as well as negative cash flows from current operations of $1,852,669, Hartcourt's inability to meet debt obligations, and the need to raise additional funds to accomplish its objectives, create substantial doubt about Hartcourt's ability to continue as a going concern. ( Ja, das ist bestimmt bereits im Kurs enthalten )
.... ich sag nur ... wacht endlich auf !
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