HARTCOURT COMPANIES INC filed this 10KSB on 04/13/1998.
On 28 July 1997, Capital Commerce, Ltd. (an Isle of Man Corporation),
does hereby enter into this agreement with The Harcourt Companies, Inc. (a Utah
Corporation), to provide free trading securities for the purchase of Pego
Industries and the creation of ECS (a Nevada Corporation. to be a wholly owned
subsidiary of Hartcourt). The free trading securities to be provided by Capital
Commerce shall be from its trading portfolio, in the amount of no less than US
$6.000,000.00 as follows:
Capital Commerce Ltd. does hereby agree to provide the following, free trading
securities from its portfolio, to beused by HRCT as equity capital:
1. Uniforms for America (NASDAQ BB: UNTIF) at the current price of
US$ 6.00 per share 500,000 shares US $3,000,000
2. The Beverage Store (NASDAQ BB: BEVG) at the current price of
US$ 5.75 per share 260,869 shares US $1,500,000
3. Phone Time Resources, Inc. (NASDAQ BB: PHTM) at the current price of
US$ 1.10 per share 1,363,636 shares
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