Hartcourt Corp.
Return to home
Hartcourt: http://www.hartcourt.com/
1983
Hartcourt was founded.
(IHUB, #45484, 1/22/04)
2000 Oct 24, Harcourt stock split
2:1.
(IHub #55819, 7/28/04)
2002 Hartcourt declared a dividend
by distributing 5 Million shares of Elephant Talk Communications Inc.
to its shareholders.
(IHUB, #47165, 2/19/04)
2003 Feb 18, The Hartcourt
Companies, Inc. today announced that it has signed a definitive
agreement to purchase 45 percent of HuaQing Corporation Development Co.
Ltd. and HuaQing Economics Development Co. Ltd. a major PC assembler
and marketer based in Shanghai, China. Furthermore, Hartcourt has
obtained a voting proxy for an additional 10 percent of outstanding
shares of both HuaQing companies to effectively control the Board of
Directors.
The purchase price for the 45 percent acquisition is 18.2 Million RMB
(US$2.2Mil) payable in 15,960,474 restricted common shares of
Hartcourt, calculated at $0.138 a share.
(IHUB, #48244, 2/29/04)
2003 Feb 25, Hartcourt Capital
Launches China Report, a Magazine Focused On Investment opportunities
and Characteristics of China Market
(IHub, #46857, 2/13/04)
2003 Mar 20, Hartcourt Completed
HuaQing Acquisition
(IHub, #46857, 2/13/04)
2003 Mar 25, Hartcourt Engages
GoNow Financial Network to Provide Investor Relations and Other
financial Services
(IHub, #46857, 2/13/04)
2003 Apr 2, Hartcourt Added 2
Independent Directors To Its Board
(IHub, #46857, 2/13/04)
2003 Apr 16, Hartcourt
Subsidiaries Obtained New Sales Contracts
(IHub, #46857, 2/13/04)
2003 Apr 30, The Hartcourt
Companies, Inc. today announced that it has signed a definitive
agreement to purchase 45 percent of Guangdong NewHuaSun Computer Co.
Ltd., a major PC distributor and marketer based in Guangzhou, China.
Furthermore, Hartcourt has obtained a voting proxy for an additional 10
percent of outstanding shares of NewHuaSun to effectively control the
Board of Directors. The purchase price for the 45 percent acquisition
is RMB$27.26 Million (US$3.3Mil) payable in restricted common shares of
Hartcourt at US$0.24 per share. The share price was fixed 2 months ago
at the start of negotiation.
(IHub, #48251, 2/29/04)
2003 Apr, Hopeful Internet
Technology Limited ("HIT"), a 51% owned subsidiary of the Company
(HRCT), disposed off its wholly owned foreign subsidiary, Shanghai
Sinobull Information Corp. Ltd. to a non-related party (GTI). According
to the sales agreement, HIT received 57,826,793 common shares (or
equivalent to 17% ownership) of the buyer. The company recorded a loss
of $69,123 in connection with the disposal.
(IHub #55880, 7/30/04)
2003 May 8, The Hartcourt
Companies, Inc. today announced that it has signed a definitive
agreement to purchase 45 percent of Shanghai GuoWei Science and
Technology Ltd., a major PC retailer and distributor based in Shanghai,
China. Furthermore, Hartcourt has obtained a voting proxy for an
additional 10 percent of outstanding shares of GuoWei to effectively
control the Board of Directors. The purchase price for the 45 percent
acquisition is RMB35.85 Million (US$4.35Mil) payable in 10,863,792
restricted common shares of Hartcourt at US$0.40 per share.
(IHub, #48252, 2/29/04)
2003 May 15, Hartcourt Reports
Substantial Improvements on Q1 Financial Results
(IHub, #46857, 2/13/04)
2003 May 16, Hartcourt Acquires
Yet Another Chinese Resource
(IHub, #46857, 2/13/04)
2003 May 17, Hartcourt is becoming
the flagship in Shanghai PC market
(IHub, #46857, 2/13/04)
2003 May 21, Sinobull Information,
a Hartcourt Subsidiary, Merges With Genius Technology Inc.
(IHub, #46857, 2/13/04)
2003 May 27, The Securities and
Exchange Commission announced that it filed a complaint in federal
district court in Los Angeles against The Hartcourt Companies, Inc.,
based in Long Beach, California, Alan V. Phan, Hartcourt's former
Chairman, CEO and President and a resident of Long Beach, and Yongzhi
Yang of Los Angeles. The complaint alleges that the defendants
participated in a scheme to illegally raise money for Hartcourt by
using a Form S-8 registration statement.
(IHUB, #46449, 2/6/04)
2003 May 28, Hartcourt Will
Vigorously Defend the SEC Civil Lawsuit
(IHub, #46857, 2/13/04)
2003 May 29, Hartcourt Responds to
the SEC Civil Lawsuit
(IHub, #46857, 2/13/04)
2003 Jun 3, Hartcourt Complete the
GuoWei Acquisition
(IHub, #46857, 2/13/04)
2003 Jun 16, Hartcourt Responds to
the SEC Civil Lawsuit
(IHub, #46857, 2/13/04)
2003 Jun 16, Hartcourt to Hold
Annual Shareholder Meeting on 22 August 2003
(IHub, #46857, 2/13/04)
2003 Jul 1, Hartcourt Sold
StreamingAsia to Hong Kong Investment Group
(IHub, #46857, 2/13/04)
2003 Jul 7, Hartcourt Acquires
ZhongNan Group, a Major PC Distributor in Wenzhou
(IHub, #46857, 2/13/04)
2003 Jul 14, Hartcourt Purchased
Additional 6 Percent of Huaqing
(IHub, #46857, 2/13/04)
2003 Jul 21, Hartcourt 2003 Annual
Shareholder Meeting Proxy Statement.
(IHub, #46857, 2/13/04)
2003 Aug 6, Hartcourt Reports
Profitable Second Quarter
(IHub, #46857, 2/13/04)
2003 Oct 9, The Hartcourt
Companies, Inc. announced today that it will distribute 15.1 Million
shares of Financial Telecom Limited (USA) Inc. (FTL) to all Hartcourt
shareholders of record as of October 17th, 2003. FTL, a wholly-owned
subsidiary of Hartcourt, operates a financial data service in Hong
Kong. Hartcourt anticipates the dividend distribution to take place in
mid January 2004 assuming certain conditions are satisfied, including
the listing of FTL stock on the OTC Bulletin Board exchange in the
United States.
(IHUB, #47165, 2/19/04)
2003 Oct 20, Hartcourt to Announce
Q3 2003 Financial Results
(IHub, #46857, 2/13/04)
2003 Oct 16, Hartcourt Completed
the ZhongNan Acquisition
(IHub, #46857, 2/13/04)
2003 Oct 15 Hartcourt Declares
Dividend For Second Consecutive Year
(IHub, #46857, 2/13/04)
2003 Nov 3, The Hartcourt
Companies, Inc. (HRCT), reported financial results for the third
quarter ending September 30, 2003. The company reported total revenues
of $ 33,665,719, an increase of 20% over $28,112,109 reported in the
previous quarter and an increase of 3124% over $1,044,252 reported in
the same period in 2002. Net profit for the quarter totaled $514,204,
as compared to the previous quarter's net profit of $463,387. The same
quarter in 2002 had a net loss of $77,301.
(IHub, #51035, 4/14/04)
2003 Dec 2, Former Finance
Director of Dell (China) joins Hartcourt
(IHub, #46857, 2/13/04)
2003 Dec 4, Hartcourt and its
subsidiary Huaqing Acquired Pengyang Computer Co., a Major Notebook
Retailer in Shanghai, China.
(IHub, #46857, 2/13/04)
2003 Dec 16, Hartcourt Announces
Acquisition of Beijing Challenger Group of Companies, Key Distributor
of IBM Products.
(IHub, #46857, 2/13/04)
2004 Feb 4, The Hartcourt
Companies, Inc. announced today that a large number of investors who
hold about 55 million of restricted common shares of Hartcourt have
agreed to extend the restriction period of their Rule144 restricted
shares for another year. According to SEC regulation, holders of
Rule144 shares are eligible to file Form 144 and to sell their shares
after a one-year holding period.
(IHUB, #48304, 3/1/04)
2004 Feb 6, The Hartcourt
Companies, Inc., a Utah Corporation, signed a definitive agreement to
purchase 51% percent of Shanghai Computer ServiceNet Co., Ltd. The
purchase price for 51 percent of ServiceNet is 21 Million RMB (US$2.5
Million) payable in 3,576,751 restricted common shares of Hartcourt,
calculated at US$0.61 a share, and an investment of 3 Million RMB
(US$364,000) into ServiceNet to strengthen its growth. [see Aug 31]
(IHUB, #47839, 2/24/04)
2004 Feb 11, The Hartcourt
Companies, www.hartcourt.com, announced today that it has purchased an
additional 6 percent of all outstanding shares of Shanghai Guowei
Science and Technology Ltd., www.guowei.com.cn , a major PC retailer
and distributor based in Shanghai, China. Together with the 45 percent
interest purchased on April 30th, 2003, Hartcourt owns 51 percent of
Guowei.
(IHub, #46718, 2/11/04)
2004 Feb 18, Feb 18, 2004 -- The
Hartcourt Companies, Inc., www.hartcourt.com, announced that it has
appointed Mr. Victor Wang, LLM to its Board of Directors, to replace
Mr. XY Li who resigned due to job relocation. Mr. Victor Wang is well
respected in the legal and investment community in Shanghai and he will
be able to provide invaluable guidance to Hartcourt's management team.
(IHUB, #47096, 2/18/04)
2004 Feb 23, Hartcourt announced
that it has signed a definitive agreement to purchase a controlling
interest of Shanghai Computer ServiceNet Co., Ltd, a leading
independent third-party IT service provider based in Shanghai, China.
The total purchase consideration is approximately US$2.5 million
payable in cash and restricted shares. The management team of the
company will hold the remaining minority interest.
(IHUB, #47629, 2/23/04)
2004 Mar 2, The Hartcourt
Companies, Inc. announced today that major shareholders including
Enlight Group and former Huaqing shareholders have confirmed that they
will honor the agreement to extend the holding period of 55 million
restricted shares for another year, as previously announced. Some
HuaQing shareholders have filed Form 144 in errors and Hartcourt has
not released the restriction on these shares.
(IHub, #48426, 3/2/04)
2004 Mar 16, the Securities and
Exchange Commission filed an application with the United States
District Court for the Central District of California for an order to
enforce an investigative subpoena served on John A. Furutani, an
attorney representing The Hartcourt Companies, Inc., a Utah corporation
headquartered in Pasadena, California. The Commission alleges that
Furutani sold at least 40,000 shares of Hartcourt common stock between
May 8, 2003, when the Commission staff informed him of its intention to
file a complaint against Hartcourt, and May 27, 2003, when the
complaint was actually filed in SEC v. The Hartcourt Companies, Inc.,
Civil Action No. 02-3698-LGB (PLAx) (C.D. Cal.).
(IHub, #49845, 3/17/04)
2004 Apr 15, The Hartcourt
Companies, Inc. filed 10KSB for the financial year ending December 31,
2003. Financial Highlights for 2003 financial year: Total revenue grew
by 9,697% year-over-year to US$111.3 million led by both internal
growth and strategic acquisitions in the IT distribution and retailing
sector. Gross profit increase by 586% year-over-year to US$5.3 million.
(IHub, #51118, 4/15/04)
2004 Apr 20, The Hartcourt
Companies, Inc., announced today that it has completed all governmental
requirements and completed the acquisition of Beijing Challenger group
of companies (Challenger) as per the signed agreement dated December 9,
2003. Since Hartcourt owns 51 percent of all outstanding shares of
Challenger, it will be able to consolidate 100 percent of Challenger
revenue starting the first quarter of 2004.
(PR, 4/20/04)
2004 May 4, Hartcourt Retained a
Corporate Communication Firm.
(IHub #53073, 5/24/04)
2004 May 24, Hartcourt filed 10QSB
for the first quarter ending March 31, 2004. Revenues total grew by
1,083% year-on-year to a record US$67.7 million.
(IHub #53020, 5/24/04)
2004 May 25, Storage Computer
Corporation, a provider of high-performance storage and data management
software, announced today it has signed a distribution agreement with
Beijing Challenger Group of China. Beijing Challenger will carry
Storage Computer's CyberNAS software product offering in their
portfolio for distribution throughout China.
(IHub #53120, 5/25/04)
2004 Jul 14, The Hartcourt
Companies, Inc. www.hartcourt.com, announced that Dr. Alan Phan, its
founder, has converted his 1,000 Original Preferred Shares into 2
million common shares of Hartcourt. The Original Preferred Shares
entitled the holder to appoint three-fifth of the members of the Board
of Directors. As of today, the Original Preferred Shares have been
returned for cancellation.
(IHub #54727, 7/14/04)
2004 Aug 4, The Hartcourt
Companies, Inc., China's IT product distributor, retailer and service
provider, announced the segmentation of its business into two groups,
the Consumer Division and the Commercial Division.
(IHub #56040, 8/4/04)
2004 Aug 16, 10Q issued. Net sales
and cost of sales: The Company recorded net sales of $70,655,261 and
$138,378,366 for the three months and six months ended June 30, 2004,
compared to $28,112,109 and $33,834,458 for the same period in 2003. As
of June 30, 2004, Hartcourt had working capital of US$14,624,834.
(IHub #56433, 8/16/04)
2004 Aug 16, The Hartcourt
Companies, Inc. (OTC BB: HRCT) (Frankfurt: 900009), China's IT
wholesale, retail and service provider today announced its results for
the quarter ended June 30, 2004. Hartcourt exceeded its own growth
expectation in the retail business while achieving record revenue
during the second quarter 2004. Consolidated revenue was US$70.7
million, up 151% compared to the same period last year. While a
sizeable revenue growth was contributed by acquisitions made after the
second quarter of last year, the internal growth of the retail business
was up 47% compared to the year-ago quarter while its gross margin
increased 82%.
(IHub #56470, 8/16/04)
2004 Aug 31, The Hartcourt
Companies, Inc., has agreed with Shanghai ServiceNet Co., Ltd.
("ServiceNet") not to complete the pending acquisition of ServiceNet
shares in order to avoid a conflict of interest between ServiceNet's
relationship with HP and with Hartcourt's subsidiary Challenger's
relationship with IBM, for which it serves as a distributor. The
definitive agreement for purchase of 51% of ServiceNet's common stock
was signed on February 6, 2004.
(IHub #56867, 8/31/04)
2004 Sep 1, The Hartcourt
Companies, Inc., announced that it has engaged Adam Friedman Associates
LLC to be its corporate communications counsel specifically as it
relates to investor and media relations. Hartcourt and TTC have
mutually agreed to end their cooperation in the investor relations area.
(IHub #56913, 9/3/04)
2004 Sep 30, The Hartcourt
Companies, Inc., today announced that Billy Wang was elected Chairman
of the Board of Hartcourt at a Board Meeting held on Sept 28th, 2004.
Mr. Wang has served as a Director of Hartcourt since 2002. He is
currently President of NCH Corporation China, a multinational chemical
company with subsidiaries in over 10 cities in China and in over 70
countries around the world.
(IHub #57530, 9/30/04)
2004 Oct 9, The Hartcourt
Companies announced today that it will distribute 15.1 Million shares
of Financial Telecom Limited (USA) Inc. (FTL) to all Hartcourt
shareholders of record as of October 17th, 2003. FTL, a wholly-owned
subsidiary of Hartcourt, operates a financial data service in Hong
Kong. Hartcourt anticipates the dividend distribution to take place in
mid January 2004 assuming certain conditions are satisfied, including
the listing of FTL stock on the OTC Bulletin Board exchange in the
United States.
(IHub #57665, 10/9/04)
2004 Oct 19, The Hartcourt
Companies, Inc., today announced that it has revised the record date
for the "spin off" of its wholly owned subsidiary, Financial Telecom
Limited (USA), Inc. ("FTL"), from October 17, 2003 to October 25, 2004
according to the notice filed with NASDAQ and the notice period for
distribution date required by the NASDAQ. In the spin off, record
holders of Hartcourt common stock as of October 25, 2004 will receive
.087965218 share of FTL common stock for each share of Hartcourt common
stock owned.
(IHub #58044, 10/19/04)
2004 Nov 2, The Hartcourt
Companies, Inc. (OTC BB: HRCT), (Frankfurt: 900009), today announced
that it has signed a definitive agreement to purchase 90% of Control
Tech Electrics Technology (Shanghai) Co., Ltd, a sole distributor of
Radvision video & audio conferencing
products in China.
(IHub #58373, 11/2/04)
2004 Nov 2, The Hartcourt
Companies, Inc. today announced that it has received clearance to list
the common stock of Financial Telecom Limited (USA) Inc ("Fintel"), its
former wholly owned subsidiary, on the OTC Bulletin Board under the
trading symbol: FLTL.
(IHub #58379, 11/2/04)
2004 Nov 9, The Hartcourt
Companies, Inc., China's IT wholesale, retail and service provider
today announced its results for the quarter ended September 30, 2004.
Hartcourt reported consolidated revenue of US$54 million, up 62%
compared to the same period last year. 34% of revenue was contributed
by commercial sales. The consumer sales were up 44% compared to a year
ago same quarter after excluding the discontinued operations. The
consolidated net income was US$49K. The discontinued operations were
Guangdong NewHuaSun, a Samsung distributor and Wenzhou Zhongnan Group,
an IT retailer.
(IHub #58603, 11/9/04)
2004 Dec 20, The Hartcourt
Companies, Inc. today announced that it has appointed Mr. Victor Zhou
to its Board of Directors. Mr. Zhou is well respected in the Chinese
securities industry with over 12 years of experiences. Hartcourt
believes that he will provide valuable guidance to the Hartcourt
management team.
(IHub #59770, 12/21/04)
2004 Dec 30, The Hartcourt
Companies, Inc., today announced that on December 17, 2004, U.S.
District Court for the Central District of California entered partial
summary judgment in Securities and Exchange Commission v. The Hartcourt
Companies, Inc., et al. The Court found that in 1999, the company
violated Sections 5 and 17(a) of the Securities Act of 1933 and Rule
10b-5 under the Securities Exchange Act of 1934 in connection with
sales of securities using a Form S-8 registration statement. The Court
issued an order directing that civil penalties be imposed against the
company in the amount of $275,000, the amount of $819,363 from the
stock sales be disgorged, and the company be enjoined from future
violations of the securities laws.
(IHub #60017, 12/30/04)
2005 Jan 5, The Hartcourt
Companies, Inc. announced that it had appointed Richard Hyland as
Interim Chief Financial Officer, effective January 5, 2005, replacing
Carrie Hartwick. The CFO's position was covered by Carrie Hartwick
after she was promoted to the CEO position in June 2004. Richard brings
to Hartcourt a broad range of expertise in financial management and
internal controls. His diversified background is expected to be an
invaluable asset to support Hartcourt's anticipated growth in China.
(IHub #60278, 1/5/05)
2005 Jan 6, The Hartcourt
Companies, Inc. filed an 8-K today, in which the Company reported that
on 12/29/04, Loral International Certified Public Accountants informed
The Hartcourt Companies, Inc that it resigned as the independent public
auditor for the Company and its subsidiaries effective immediately. In
connection with the audits of the Company's most recent two years ended
12/31/03 and 2002 and during the period from 1/1/04 until Loral's
resignation, there were no disagreements between Loral and the Company
on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope and procedures, that, if not
resolved to the satisfaction of Loral, would have caused Loral to make
reference to the subject matter of the disagreement in connection with
its reports on the Company's financial statements for such years.
(IHub #60316, 1/6/05)
2005 Jan 14, The Hartcourt
Companies, Inc. today announced that Hartcourt will hold its first
investor conference call on Friday, January 21, 2005. The call will
begin promptly at 7 a.m. PST, 10 a.m. EST, 4 p.m. Berlin and 11 p.m.
Shanghai time. The conference call, which is more effective and real
time communication with the Hartcourt investors, will replace the
previous website posting of Q&A.
(IHub #60557, 1/14/05)
2005 Jan 20, The Hartcourt
Companies, Inc. today announced that it has signed a memorandum of
understanding to enter into a strategic alliance with Shenzhen Capital
Group Co, Ltd., one of the largest investment holding companies in
China. Shenzhen Capital has invested more than 3 billion RMB in Chinese
companies in the high-growth segments of the Chinese high tech market.
Hartcourt management believes that the strategic alliance will be a
win-win arrangement for the two companies. Pursuant to the strategic
alliance, Hartcourt hopes to accelerate its growth in China by gaining
access to Shenzhen Capital's extensive investment network, which
includes many investments in high-growth Chinese IT companies. Shenzhen
Capital's IT company holdings would in turn benefit from Hartcourt's
access to US and German capital markets. In addition, both companies
plan to work closely together in the areas of investment financing,
management and human resources development. Hartcourt's Board of
Directors has authorized the sale of its Do-It-Yourself (DIY) business
back to the original owners. Hartcourt's Board of Directors has
concluded that the business will likely not be able to generate a
favorable return on Hartcourt's investment and has authorized the
disposition of the Company's interest in Challenger. Negotiations are
underway with the original owners of the company to dissolve the
current investment arrangement.
(IHub #60740, 1/20/05)
2005 Feb 16, The Hartcourt
Companies, Inc. Shanghai, Press Release Correction – The Hartcourt
Companies, Inc. Shanghai, China In the news release, “Hartcourt Forms
Strategic Alliance With Shenzhen Capital Group, Exits Declining /
Unattractive Businesses,” issued Thursday, January 20, 2005, by The
Hartcourt Companies, Inc., we are advised by the company that the third
sentence of the third paragraph should read, “Due to a decline in its
share price over the past year, Hartcourt would have had to issue an
additional 22 million shares to the minority owners of Challenger in
order to maintain its 51% equity interest pursuant to the terms of the
original purchase agreement,” rather than, “Due to a decline in its
share price over the past year, Hartcourt has had to issue an
additional 22 million shares to the minority owners of Challenger in
order to maintain its 51% equity interest pursuant to the terms of the
original purchase agreement,” as originally issued by the company.
(IHub #61718, 2/16/05)
2005 Feb 24, The Hartcourt
Companies, Inc. today announced that it has completed the acquisition
of Control Tech. Beginning March 1, 2005, Control Tech's financial
statements will be consolidated and reported under Hartcourt. Hartcourt
believes that the acquisition of Control Tech is in line with its
business strategy to move into attractive, value-added segments of the
fast-growing China IT industry.
(IHub #61838, 2/24/05)
2005 Mar 3, The Hartcourt
Companies, Inc. today announced that it entered into agreements with
Guangdong New HuaSun and Shenzhen Raiser, pursuant to which Hartcourt
redeemed 13,769,156 shares of its common stock held by New HuaSun, New
HuaSun redeemed a 45% equity interest, and Hartcourt released Shenzhen
Raizer of its obligation on a $3,403,150 promissory note payable to
Hartcourt. The promissory note was guaranteed by Shenzhen WuBo, which
was a party to the cancellation agreement and released of its guarantee
pursuant thereto. All three parties are Chinese corporations.
(IHub #61959, 3/3/05)
2005 Mar 15, The Securities and
Exchange Commission announced that the Honorable Lourdes G. Baird,
United States District Judge for the Central District of California in
Los Angeles, entered final judgments against The Hartcourt Companies,
Inc., a Utah corporation with executive offices in Shanghai, China,
Alan V. Phan, Hartcourt's former chairman, president, and CEO, and
Yongzhi Yang, a former consultant to Hartcourt and a resident of
Irvine, California. The judgments against Phan and Yang were entered on
February 28, 2005, while the judgment against Hartcourt was entered on
March 11, 2005. The final judgments imposed the following sanctions
against Hartcourt, Phan, and Yang: Permanent injunctions against each
defendant against future violations of the antifraud and securities
registration provisions of Sections 5(a), 5(c), and 17(a) of the
Securities Act of 1933 and Section 10(b) of the Securities Exchange Act
of 1934 and Rule 10b-5 thereunder; Disgorgement of ill-gotten gains and
prejudgment interest totaling $832,598 from Hartcourt and $189,619 from
Yang; Civil penalties of $275,000 against Hartcourt, $55,000 against
Phan, and $20,000 against Yang; and An order barring Phan from serving
as an officer or director of a public company.
(IHub #62217, 3/15/05)
2005 Mar 15, Hartcourt Companies
Inc., its former chairman, and a one-time consultant to the distributor
of computer notebooks were ordered to pay almost $1.4 million in
connection with charges that they schemed to raise money by improperly
issuing stock through a process designed for employee stock.
(IHub #62239, 3/15/05)
2005 Mar 17, The Hartcourt
Companies, Inc. today announced that the SEC litigation shadowing the
Company for much of the last two years is finally over with the entry
of final judgment on March 11, 2005. The SEC litigation arose out of a
1999 securities offering by the Company conducted by former Hartcourt
management. The court found that the Company violated the antifraud and
registration provisions of the securities laws in connection with those
transactions. The judgment imposed a total monetary judgment including
a fine and disgorgement of $1.1mm in addition to other terms. While the
potential financial impact of this SEC lawsuit was accrued in the 2003
financial statements, the Company has been actively seeking cash
resources to pay the judgment.
(IHub #62280, 3/17/05)
2005 Mar 21, The Hartcourt
Companies, Inc. today announced that Hartcourt, through its operating
subsidiary, has successfully launched notebook computer sales in
Yongle, a leading consumer electronic mega-store in China.
(IHub #62460, 3/21/05)
2005 Mar 23, The Hartcourt
Companies, Inc., today announced that upon confirmation with the OTC
Listing Qualification Department, the "E" symbol on "HRCT.OB" is an
error. OTC has already made the correction in its system and it will be
reflected on OTC web site's "Daily list" at 2pm EST. Since trading
status cannot be changed during trading hours, the "E" symbol will come
off after the market is closed.
(IHub #62785, 3/23/05)
2005 Mar 28, The Hartcourt
Companies, Inc. today announced that Hartcourt will hold an investor
conference call on Thursday, March 31, 2005. The call will begin
promptly at 7 a.m. PST, 10 a.m. EST, 4 p.m. Berlin and 11 p.m. Shanghai
time: 852-2112-1444 pin 659731.
(IHub #63021, 3/28/05)
End of file