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

To: Chuck Delo who wrote (146)	12/8/1998 8:33:00 AM
From: Slobeat	Read Replies (1) \| Respond to of 2413

Sorry Chuck, I've just been patiently waiting and not really keeping up with what's going on. But, obviously, someone's buying up a bunch of shares. I don't know the exact reason. Let's see what happens today. Mick.

To: Chuck Delo who wrote (146)	12/9/1998 7:07:00 AM
From: BAllenP	Read Replies (1) \| Respond to of 2413

This is a letter that was forwarded to me. I HAVE NO IDEA IF IT IS AUTHENTIC OR NOT SO DO NOT TAKE AS FACT! Subj: Slightly edited for your review Date: 12/7/98 7:22:38 PM US Mountain Standard Time From: To: alanhartcourt@hotmail.com Edited version for you to consider. . .thanks for your trust in me. We're holding strong. I'm pretty sure the M&M Group just established sponsorship of HRCT enterprises:-). Dear Shareholders: First of all, I would like to thank you for your support. It is painful for me, the owner of 2.8 million shares of HRCT, to see the recent sharp drop in the market price of our shares. However, it hurts me more to realize that other people have placed their trust in Hartcourt only to see their investment depreciate. I am sincerely sorry and take full responsibility for the loss. Things will get better. Please understand that the drop in our share price has nothing to do with the financial or management situation of Hartcourt. We are stronger financially and better strategically positioned than we were a year ago when our shares were valued at $1.80. Our problem started in October 98, when two HRCT market makers went out of business and dumped more than 600,000 shares into the market float. Hartcourt could do nothing to deter this event. Due to the devaluation of our shares, the management team has decided to drop a few planed acquisitions and a potential financing plan. However, we have come up with a new strategy to re-structure the company so we can grow along with continued market support. We will be moving on the following agenda: Our first achievement is the merger with Perfect Data (NASDAQ:PERF) with Pego Systems (our subsidiary). The second step will be announced within 2 weeks. Another significant strategy we are implementing is a major re-engineering of Hartcourt itself and this should be completed by January 15th, 1999. Our new strategy does not guarantee that HRCT's share price will go up to a fair market level, but I am sure that you and the investment community will appreciate our creativity and forcefulness when it comes to increasing the value of our market shares. In summary: We still relentlessly pursue our corporate objective: Growth by acquisition and consolidation. We may have suffered a minor detour by recent setbacks, but we will reach our goals. If you are a long-term investor, please stay firm. We are giving it a 120 percent and we will continue to give it 120 percent with each passing day until our objectives are obtained. Thanks again and best regards, Dr. Alan V. Phan Chairman & CEO.