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

To: fortitude who wrote (820)	5/7/2000 7:53:00 PM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 2413

<the pr crap outta this company is simply amazing! There's never any revenues, just PR and Dr Phart's travel intinerary.

To: fortitude who wrote (820)	5/8/2000 9:38:00 AM
From: Investorman	Read Replies (1) \| Respond to of 2413

Letter from Dr. Alan Phan: May 7th, 2000 Dear Shareholders: As I prepare to leave for China, I would like to update you on the progress we have made recently. The SinoBull.com web site continues to be very popular, averaging 1.6 Million page views per day. The hard launch of the site has been scheduled for the end of June when the technical upgrade of our servers and telecommunications should be complete. Five operating units within SinoBull are recording increased revenues; and some are acquiring smaller companies to complement their core business. Dr. Charlie Yang will be in China starting this week to spearhead the Innostar JV wireless project. Mr. Manu Ohri, our CFO, is working with BDO to complete the quarterly report (Form 10Q) on time. Outside Directors and a new CEO are still being negotiated with, and new strategic alliances are being formed and finalized by our technical team. The three major targets our top management is focusing on are: the NASDAQ NMS listing, the IPO underwriting agreement for SinoBull and the acquisition of a major Internet infrastructure company in China. I know we are very close to the finish line; but of course, it's very difficult to pinpoint the exact dates, because not all the factors are within our control. We all know that the completion of these goals will propel Hartcourt into the next orbit; so we are throwing everything we have into meeting this challenge. We will arrive. Soon. Last week, Hartcourt management had an all-day retreat to re-define our goals, to evaluate our positions, to strategize our moves, to assign specific tasks and to set timetables and performance standards. It provided all of our executives with tremendous insight and focus, strengthening our determination and rejuvenating our energies. I would like to share with you some of the conclusions from this meeting. First of all, we reaffirmed that we plan to be an operating company, actively managing our investments, and not just a holding company. Our 5-year goal is to be a first-tier Internet company in China, specializing in Internet infrastructure network. With some projections estimating Greater China to be the largest population of Internet users by 2005, we at Hartcourt believe SinoBull, Innostar and other Hartcourt products will be the leading brand names in this new frontier. In assessing our strengths and weaknesses, as well as our competitive edge, we are confident that we have among the best tools at hand: a dedicated core of take-charge managers in China, a strong technology team with years of experience in world-class companies, and leaders with excellent skill and vision in a unique market. Our present market position would also give us an advantage of about 12 months ahead of competitors in deployment and experience in this new space. Our major weakness has been our failure to communicate effectively our story and accomplishments to the investment community leading to undervaluation of our stock price as compared to other Chinese Internet companies. And even though these are areas we do not have control over, the delays of our NASDAQ listing, of the Ernst & Young report, and of the 10K filing; we share the blame for our high expectations of anticipated completion times, which in turn propagated to pending issues. But with the completion of the Ernst & Young report, we fully expect a successful SinoBull IPO. We are also working with FRB and other PR efforts in Asia to prepare on capitalizing on the media attention directed to China and the WTO, to bring forward the stories of Hartcourt and SinoBull. With our weaknesses being fixed, our strengths are being fortified. Overall, when the playing field is level, the team with the best talents and determination is expected to win. We expect to win. I emphasized to all our executives that the next few months are crucial to Hartcourt's future. And the shareholders will not accept any excuses. We either perform and deliver or we ought to face the firing squad. It is difficult for a team to win year after year; but I expect Hartcourt to do it again this year. We will never settle for second best. Excellence is not an occurrence, it is a habit. We will perform and we will deliver. Franklin Roosevelt once said, "The only limit to our realization of tomorrow will be our doubts of today." I have no doubt whatsoever. Sincerely, Dr. Alan V. Phan Chairman & CEO Certain statements in this letter 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 achievements expressed or implied by such "forward - looking" statements to differ materially.