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Microcap & Penny Stocks : The Hartcourt Companies, Inc. (HRCT)
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To: Ice Cube who wrote (2193)9/18/2002 1:05:25 AM
From: StockDung   of 2413
 
"Posted by: Investorman
In reply to: The_Free_Nebula who wrote msg# 13618 Date:9/17/2002 5:33:14 PM
Post #of 13654

After having read and digested David Chen's letter, it would appear from the few questions he actually answered that HRCT is now in a position similar to where it was in February 1999. They are divesting non-profitable assets (I guess that is all of them) to raise capital for an unspecified new venture (hopefully profitable.)

The only presence left in the US will be the legal representative and the stock transfer agent.

Chen sidestepped most of the questions and didn't really say much except that the former business plan is now in the trash can. A new business plan is in place but he can't tell us what it is (very sensitive.)"
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