"For our portal to be a huge success in China, we need the name Hua Xia, not Merrill Lynch."
"In short, they are the Bloomberg of China."
"By the way,
we do not need to merge with any other entity to be
listed, as we meet all NASDAQ requirements. We might
take over a NASDAQ company to use as a platform to
launch our LINUX software company, but that is another
matter. Details will be given, news will be released
once the transaction is completed."
CHEERS CHUMPS!!
December 21st, 1999
Dear Shareholders:
So here I am. Just landed in Los Angeles 36 hours ago,
I have already received 27 Emails and 6 calls asking
why I was so quiet, when the next news will be, and
should we expect something big before or after
Christmas?
I had 38 meetings all together during the
last 6 days in Hong Kong and Beijing. In the holy
spirit of this season, I would like to ask you, my
dear shareholders, to grant me a little vacation. You
need it too.
Actually, the news we released 3 days ago is quite
astounding from my viewpoint. The participation of Hua
Xia Info in the IPO of Sinobull.com was quite a big
shocking and envy to many major international brokerage
firms and investment bankers. They could not figure
out how we did it. You see, every American and
European investor knows the name of Merrill Lynch or
Charles Schwab. Most of the Chinese investors don't.
However, all of them know Hua Xia (China Securities).
To have this brand name on our financial portal is to
have instant recognition. In addition, Hua Xia Info is
the biggest financial data firm in China. They have
their own financial reporters, research analysts,
financial magazine, and data network transmitted via
cable TV. In short, they are the Bloomberg of China.
If you realize that the customers of our Internet
portal and financial services are Chinese and not
American or European, you would understand the
magnitude of this news. For our portal to be a huge
success in China, we need the name Hua Xia, not
Merrill Lynch.
For those who insist that we have a well-known
American partner, we will get them too. It will be
after the holidays before all agreements are completed
As for the NASDAQ listing, our attorney is still
preparing the application. We are sorry for the delay
due to the holidays and some administrative procedures
which must be in place before submittal. By the way,
we do not need to merge with any other entity to be
listed, as we meet all NASDAQ requirements. We might
take over a NASDAQ company to use as a platform to
launch our LINUX software company, but that is another
matter. Details will be given, news will be released
once the transaction is completed.
As the year is ending, I listed all the pending
projects and outstanding tasks for 2000. It took 2
pages, comprising of 63 items. The road ahead is long
and exciting. I tried to project my business plan to
forecast the shape of Hartcourt by the end of 2000. We
should control and invest in 18 Internet companies,
our revenue should hit $42 Million and our net earning
should not be less than $3 Million. More importantly,
we will be the leading Internet company in Asia. I
share with you my dream not because I am hyping the
stock and hope to make a personal profit. I have not
sold a single share for the last 7 years and I will
not sell a single share for the next 3 years, until my
dream is fulfilled. However, as a small Internet
company, Hartcourt is full of risks. For those who
could not afford these risks, please sell your shares
and buy government bonds. You would sleep better and I
would sleep better. For those who remain, I promise an
all-out war to final victory. There will be mistakes,
setbacks and challenges, but destiny and providence
are on our side. We will arrive.
I have received many greeting cards and gifts from
you. I could not respond personally in a timely
manner. May I take this opportunity to thank you for
your love and support. May I wish all of you a
peaceful, memorable Christmas and all the happiness,
prosperity and success that the New Millenium will
bring. Thank God for the daily blessings for the
Hartcourt family.
Sincerely,
Dr. Alan V. Phan
Chairman & CEO
Frank Scheunert
Hartcourt Inc.
Investor Relations Europa
Harffstr.199
40591 Duesseldorf
Tel 0211 2108970 |
