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

To: StockDude who wrote (1050)	6/28/2000 12:50:00 AM
From: Investorman	Respond to of 2413

This gives me confidence since you have never been right about anything yet. It doesn't matter where it is on Friday.... it matters where it will be on December 31st.

To: StockDude who wrote (1050)	6/28/2000 10:34:00 AM
From: StockDung	Read Replies (1) \| Respond to of 2413

Memory Lane->HARTCOURT HAS REDEEMED PREFERRED SHARES AND CANCELLED GOLD MINE DEAL LOS ANGELES, CA. Aug. 18, 1998 -- The Hartcourt Companies, Inc. (OTC BB:HRCT) Tuesday announced that it has redeemed 1,000 shares of its Series C Redeemable Preferred Stock valued at $1 million, ahead of schedule. The redemption, made in furtherance of its agreement with Michael Caruana and Simerco Trading Ltd., former owners of Pego Systems Inc., calls for a $800,000 cash payment and 200,000 shares of Hartcourt restricted common shares. Pego Systems, a wholly owned subsidiary of Hartcourt, continues its strategy of aggressive acquisitions and has increased market share steadily. This action of Hartcourt to buy back its shares will strengthen its financial statements accordingly. Furthermore, Hartcourt management has elected to rescind the purchase of an undivided 100 percent interest in 34 state of Alaska mineral lease gold lode claims, known as Lodestar claims numbered 1-34, consisting of 160 acres each, located in the Melozitna mining district near Tanana, Alaska. In September 1996, Hartcourt agreed to issue 1,298,700 shares of its common stock to the sellers in exchange for these properties, subject to an appraised value of $10 million. Because it has not been confirmed, Hartcourt has canceled the agreement and demanded the return of the 1,298,700 shares. The sellers' representative has agreed to buy back Hartcourt's shares in the open market over the next 6 months to satisfy this demand. Hartcourt management believes that the current acquisition mode will continue and make Hartcourt an even more significant holding company. Besides Pego, Hartcourt owns ECS, a $16 million contract manufacturer of high-tech electronic products and is acquiring MK Aviation, a $34 million aircraft leasing company, resulting in an anticipated addition of at least $17 million to its equity base, tripling its revenue and earnings in 1999. Hartcourt's wholly owned subsidiaries primary clients include: Coca-Cola (NYSE:KO), Proctor & Gamble (NYSE:PG), General Instrument (NYSE:GIC), Arco (NYSE:ARC), Mobil (NYSE:MOB), and many others. ========================================== hartcourt.com