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Microcap & Penny Stocks : The Hartcourt Companies, Inc. (HRCT) -- Ignore unavailable to you. Want to Upgrade?

To: DDInvestor.com who wrote (493)	12/15/1999 3:24:00 PM
From: fortitude	Read Replies (1) \| Respond to of 2413

come on figger, you are going to have to do a better cavity search than that....what is his shoe size...lets get some real dd going...come on... really disappointed in you, oh poster of fiction as fact... well we be BOTH know it is all a plot....right...hehehehe...

To: DDInvestor.com who wrote (493)	12/15/1999 10:17:00 PM
From: StockDung	Respond to of 2413

Hey Do Do, are you the one that writes this Crapp? I never heard anything so ridiculous in my life. People actually fell for this nonsense? Charles Ponzi would be proud!! "By January, we shall have a new board of directors composing of well-known business titans and Internet gurus. I am excited at the opportunity to work with these giants in the industry." Hartcourt Will Have a New Board of Directors LOS ANGELES--(BUSINESS WIRE)--Dec. 8, 1999--The Hartcourt Companies Inc. (OTCBB:HRCT) (Frankfurt:HCT), www.hartcourt.com, today announced that Fred G. Luke and John Lawver, directors of Hartcourt have resigned from their positions, effective immediately. Luke and Lawver stated that there is no disagreement between themselves and the management of the company relating to the company's operations, policies and practices. Dr. Alan Phan, chairman and chief executive officer of Hartcourt, said: "Hartcourt has moved into the position to become a major global Internet company in the very near future. We need new talents, fresh bloods and creative genius to march forward to complete our mission. "By January, we shall have a new board of directors composing of well-known business titans and Internet gurus. I am excited at the opportunity to work with these giants in the industry." Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. CONTACT: The Hartcourt Companies Inc. Dr. Alan V. Phan, 562/426-9796 KEYWORD: CALIFORNIA

To: DDInvestor.com who wrote (493)	12/15/1999 10:23:00 PM
From: StockDung	Read Replies (1) \| Respond to of 2413

Do Do, didnt John Lawver just resign as a director of HRCT? What are you not telling us? Nuveen reshuffles research group -------------------------------------------------------------------------------- The research desk for John Nuveen & Co. in Irvine is undergoing some radical changes, as a restructuring aimed at improving communications between departments takes hold. Two Southern California analysts lost their jobs and two were reshuffled as part of the reorganization, which affects the firm's investment management division. Higher-ups at the firm decided that the historically independent research and investment advisory divisions needed to work together more closely, according to one Nuveen insider who welcomed the change. In the old system, "you got independent thinking from each group, but it wasn't that efficient," a close watcher of Nuveen said, with some in the investment advisory group duplicating research and some in the research department failing to understand pricing mechanisms. Under the new system, all group members are charged with working together to advance the interests of the funds they handle. The reorganized Nuveen is made up of three groups, one dedicated to unit trusts, one to privately managed accounts, and one to both open- and closed-end funds. The funds group is further divided into national, east, and west divisions. Two from the Irvine research desk--Assistant Vice President Ben Stairs and analyst John Creswell--became part of the west group, which also includes two portfolio managers and a healthcare analyst in Chicago. Analysts John Lawver and Julie Bialek will be leaving the firm. Meanwhile, David Cohen, assistant vice president and manager of research in Irvine, is expected to move to Chicago soon to work in Nuveen's institutional asset management group. Copyright ¸ 1998 American Banker, Inc. All Rights Reserved.

To: DDInvestor.com who wrote (493)	12/15/1999 11:11:00 PM
From: blake roberts	Respond to of 2413

yeah, now i see the shorts point of view...companies that mess around with the crap your involved in are always scamz...HRCT to 1...the sooner the better...short and hold you paid hypster scuzz

To: DDInvestor.com who wrote (493)	12/15/1999 11:49:00 PM
From: StockDung	Read Replies (1) \| Respond to of 2413

Here's what the SEC says about this kind of activity. May 26 On April 7, a long-standing and largely ignored Securities and Exchange Commission rule was underscored by the Commission in tough new interpretive language designed to protect investors from fraud and abuse in the penny stock market. Unfortunately, the very companies that the rule targets most directly seem to be ignoring it most flagrantly ? making a mockery of the SEC's continuing efforts to crack down on securities fraud involving microcap stocks. THE RULE IN question bans companies from using their own stock to pay stock promoters and investor relations companies for promotional services rendered on behalf of the companies themselves. The new interpretive language for the rule, issued in late February in connection with several amendments to Rule 701 of the Securities and Exchange Act of 1933, was designed to prevent companies that have little or no value as investments from conjuring that value out of thin air. The gimmick: hiring stock promoters to hype their companies to the public, while paying them with shares of the very companies being hyped. Such Ouiji board-type promotions are a common practice among companies on NASDAQ's so-called Over The Counter bulletin board market, where companies are either so small or worthless that they are exempted from having to file audited financial statements with their stockholders and the SEC. The exemption from SEC filing requirements invites a type of abusive practice in the penny stock market that has become commonplace in recent years. The non-filing penny stock companies simply hire stock promoters to make outlandish claims for the companies, knowing that because the companies are non-filers, there is no way for investors to check out the claims before handing over their money. In such situations, the SEC normally acts only after-the-fact, when an abusive or misleading stock promotion has already driven up a stock's price and investors have been victimized. Now, the SEC's decision to issue tough new interpretive language for Rule 701 of the 1933 Act has put companies on clear notice that they cannot use their stock as payment for the services of stock promoters and investors relations operators. According to an SEC spokesman, companies found in violation of the rule will be required to buy back the stock in question for cash, and must carry the obligation as a balance sheet ?contingent liability? until it is discharged. The official said offending firms also are subject to civil enforcement actions by the Commission. What's more, said the official, there are no ?grandfather provisions? in the rule, meaning that any promoter who received stock for his services before April 7 cannot continue engaging in the services afterward. These type of activities have not only now been specifically barred by the SEC since April 7 but are also banned by the Standards of Practice of the National Investor Relations Institute, the main trade organization for the financial P.R. field. Taking note of the SEC action as early as March 5, the Institute issued an ?Executive Alert? to its members, calling attention to the restated SEC rule and stressing that ?consultants who provide investor relations or shareholder communications services? may not be compensated in stock or options in lieu of cash for their services. Says the Institute's president and CEO, Louis Thompson, ?the companiesthat engage in this sort of thing aren't investor relations firms at all. They're stock hypers and promoters trying to hide behind a veil of respectability. It's disgusting.? Cleaning up this abusive practice is what the SEC's action regarding Rule 701 was all about. But no cases have been brought since its issuance, and an SEC official says the Commission's staff has not yet even issued any individual opinion letters on the matter. Bottom line? For now at least, it's business as usual on the Internet, where behind every press release about some fast rising penny stock company may very well lurk the impossibly conflicted self-interest of a stock promoter who agreed to hype the stock only if given shares in the company beforehand. That is how things have been done until now, and nothing seems to have changed since April 7 in any way. The Truthseeker