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

To: Investorman who wrote (1081)	7/31/2000 10:14:29 AM
From: Investorman	Read Replies (1) \| Respond to of 2413

Letter from Dr. Alan Phan: July 31st, 2000 Dear Shareholders: I would like to send you a brief update on the progress we made in Hong Kong regarding the merger and the restructuring of Hartcourt. So far negotiations have been going very well and with the successful completion of this merger, this will be a major forward step for Hartcourt. If we manage to accomplish what we are planning, in a few months, Hartcourt will be a much different entity, much stronger and better than ever. We will have the financial resources and the marketing position to complete our mission in a spectacular manner. At the same time, the legal process is complex and slow. So over the next few weeks, the news as we are allowed to publicize will only show small parts of the whole picture, until all the legal work is done. Please be patient, as the final product will be something you and I will be very proud of. The shareholder value will be increased substantially and the investment community will finally applaud Hartcourt's uniqueness and ingenuity. Like I said in my last letter, the tactics and strategies might change in a battle, but we continue to stay on course to achieve the original mission we've been focused on. Hartcourt will remain Hartcourt, China will still be the biggest Internet market worldwide and we will all have a big share of this first-mover opportunity. I am more optimistic than ever. The management is more committed and more creative than ever. We are on our way. Again, I would like to thank all of you for the tremendous support received over the last few weeks, especially when our share price was at a low cycle. Your acceptance of a long-term perspective enables management to negotiate from a position of strength. I hope you all agree with Ted Engstrom that "the rewards for those who persevere far exceed the pain that must precede the victory." 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.