900009 - Hartcourt News !!!
schwald : 900009 - Hartcourt News !!!
Hartcourt Shares Gain 5,264 Percent in 1999
Long Beach, CA. 01/10/00 -- The Hartcourt Companies, Inc. (OTC: HRCT, Frankfurt: HCT), www.hartcourt.com, today announced that HRCT was one of 1999's top performing stocks. The share price appreciated 5,264
percent--starting from $0.28 on December 31st, 1998 to close at $15.12 on December 31st, 1999.
Dr. Alan Phan, Chairman & CEO of Hartcourt said, "I believe the share price reflects the achievements of Hartcourt during the past year. Actually, the results of what we are doing will not come into focus for another 6 to 12 months -- so the real achievements will be even more significant as our progressive organization continues to move rapidly from the developmental stages to its fully functional status."
Dr. Phan continued, "During the past 8 months, we have acquired and merged 5 Chinese Internet companies to create a major financial services and data provider for Chinese investors. The merged entity, Sinobull.com, will have more revenue and earnings than any existing Chinese Internet company.
Thanks to existing brand names and licenses from its subsidiaries, Sinobull.com commands a unique market position. In addition, another joint venture with Innostar of Beijing will create the first and only wireless Internet Service Provider (ISP) network and IP phone via satellite in China at this time. The true value of all these operations should become clear by year's end."
Hartcourt is creating the most comprehensive financial portal in China called Sinobull.com which has the active participation of file powerful Chinese partners.
(1) the number-one financial intelligence brand name in China with Hua Xia Info;
(2) the already actively in use and only online stock trading system with UAC Stock Exchange Online, utilizing a sophisticated VPN over China Telecom's switched packet network;
(3) the most sophisticated data delivery network via satellite with Guo Mao;
(4) the oldest and respected financial data provider with FTL;
(5) and cutting edge streaming media software engineers and web designers with StreamingAsia.com.
Sinobull.com will also include a major influential American partner, details of which will be announced as agreements are finalized.
The IPO for Sinobull.com is planned for the second quarter of 2000. For further information concerning pre-announcement, underwriting status, and the affect to current Hartcourt shareholders, please visit our Web site at www.hartcourt.com
Certain statements in this press 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 achievements expressed or implied by such "forward - looking" statements to differ materially from the "forward - looking" statements.