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Pastimes : Discuss ATEL - ACCESSTEL INC -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (30)	4/11/2001 3:28:01 AM
From: Mr. Jens Tingleff	Read Replies (6) \| Respond to of 130

Looks very much like it now. - Didn't find anything in the link regarding (Bay Business Center) - Some names, but plenty with those names aorund. Did you find anything ? Kr Jens

To: StockDung who wrote (30)	4/11/2001 9:47:17 AM
From: StockDung	Respond to of 130

I see a Hartcourt type of press release in ATEL's future. Just my humble opinion. Just a guess as what could happen "Hartcourt will rescind the Alaska Mineral Lease Rights transaction, return any unsold marketable securities acquired in connection with the A and B Preferred stock and further have no liability to compensate any of the settling parties for marketable securities that were sold." Hartcourt to Divest 65 Percent of ECS to Management and Investors' Group; Company Also Settled All Outstanding Lawsuits Long Beach, CA. 3/25/99 -- The Hartcourt Companies, Inc. (OTC: HRCT), www.hartcourt.com, Thursday announced that it has sold 30 percent of Electronic Components & Systems Inc. ("ECS") to James Pruzin, its president and former owner. As consideration, Pruzin will return to Hartcourt 2 million common shares of HRCT, and 3,400 shares of Series D Preferred Shares he originally received when he sold ECS to Hartcourt in October 1997. Additionally, in settlement of various claims among the parties involved, including mutual releases from certain obligations and rights, including agreements to rescind, Hartcourt will convey 35 percent of ECS to the settling parties. The settling parties have also agreed to meet certain short-term cash needs of ECS. The agreement will settle all outstanding lawsuits and counterlawsuits involving American Equities LLC, Promed International, Mandarin Overseas, Capital Commerce, Pacific Rim Capital and Regis Possino. Accordingly, the consulting agreement with American Equities will be cancelled. Additionally, the settling parties will return to Hartcourt 1 million shares of HRCT common stock and all the outstanding Series A, B and AB Preferred Shares of HRCT, which will be cancelled. Hartcourt will rescind the Alaska Mineral Lease Rights transaction, return any unsold marketable securities acquired in connection with the A and B Preferred stock and further have no liability to compensate any of the settling parties for marketable securities that were sold. The effect of these agreements will be a major step in the restructuring of Hartcourt's financial statements, as well as eliminating potential dilution of company equity. It will now allow management to focus on the core business: project development in China under Hartcourt, and environmental engineering business under Enova Holdings. The company recently announced that it will contribute its equity in all its U.S.-based assets into Enova Holdings Inc., which will include the remaining 35 percent ownership of ECS. New management and new board members are being recruited to bring fresh energy, vision and experience into Enova. The company is also negotiating with 2 environmental businesses for possible acquisition by or merger with Enova. As a result of the significant efforts involved in the restructuring and these transactions, the company will not file its annual report on Form 10K by March 31, 1999. The company will request an extension from the Securities and Exchange Commission and expects a filing by April 15, 1999. The financial statements included in the Form 10K will include a Pro Forma analysis reflecting these new transactions. 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. ------------------------------------------