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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (11657)	5/15/2003 4:01:08 PM
From: StockDung	Respond to of 19428

IT COULD BE ITS A SCAM. HARTCOURT BOUGHT 45% INTEREST IN 3 COMPANIES PLUS CONTROL OF A 10% PROXY. THEY DO NOT OWN THE COMPANY AND CAN NOT OWN THE COMPANY SINCE THEY ONLY OWN 45%. THE REASON IS VERY SIMPLE. CHINA WILL NOT ALOW U.S. COMPANIES TO OWN COMPANIES IN CHINA. HARTCOURT HAS A INVESTMENT PERIOD. HARTCOURT PLANS ON DISCLOSING REVENUE AND INCOME ON THIER OWN BOOKS. THERE NEW VIRTUAL ACCOUNTANTS WITH WORLDWIDE VIRTUAL OFFICES ARE PULLING AN ENRON. WATCH, WAIT AND SEE. HARTCOURT WILL BLOW UP VERY SOON. Hartcourt Reports Substantial Improvements on Q1 Financial Results Thursday May 15, 3:11 am ET LOS ANGELES, May 15 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: 900009), www.hartcourt.com , today reported financial results for the first quarter of 2003. Revenues for the quarter were $5,722,349 as compared to $119,344 for the last quarter of 2002. Hartcourt recorded a loss of $186,916 or $0.00 per share, as compared to a loss of $768,523 during the same quarter of 2002. The increase in revenue was due to the consolidation of one-month operation of HuaQing, a recent acquisition. The cash position has improved from $79,845 as of 31 December 2002 to $2,987,588 as of 31 March 2003. The actual loss on ongoing operation was narrowed to only $30,383 (before depreciation and impairment). The current ratio of assets over liabilities is positive. Mr. Richard Yan, Acting CFO of Hartcourt, comments," We look forward to Q2; as we shall be able to consolidate all 3 months of HuaQing operation, as well as additional revenue and income from NewHuaSun and GuoWei. There might be some impact from SARS epidemic, but the positive trend will continue." Since February 2003, Hartcourt has acquired controlling interest of HuaQing, NewHuaSun and GuoWei, all top PC marketers and distributors in China and dominant players in their own geographical areas. The combined revenue in 2002 of these subsidiaries was US$145 Million with a net profit of US$2.5 Million. IDC expects the PC market in China to grow an average of 18-22% percent from now to 2006. About Hartcourt The Hartcourt Companies, Inc. is an investment holding and developing company specializing in the acquisition and development of private companies within high-growth industries in China. Hartcourt's business strategy is to add substantial value in terms of financial restructuring, strategic consolidation and corporate governance to enable its subsidiaries to grow and expand faster with the ultimate objective of mature divesture via public markets. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com . Forward-looking statements The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement. -------------------------------------------------------------------------------- Source: The Hartcourt Companies, Inc.