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Betreff: Press: Hartcourt Applies For Nasdaq NMS Listing
Hartcourt Applies For Nasdaq NMS Listing
Long Beach, CA. 01/24/00 -- The Hartcourt Companies,
Inc. (OTC: HRCT, Frankfurt: HCT), www.hartcourt.com,
announces that HRCT has submitted its application to
The Nasdaq Stock Market Inc. to be listed on their
National Market System.
Dr. Alan Phan, Chairman & CEO of Hartcourt,
said: "Since we met all stated requirements in terms
of market capitalization, share price, net tangible
assets, number of shareholders and market makers, we
hope that the approval process will be completed
quickly. The Nasdaq listing will allow institutional
investors to own Hartcourt shares, creating a larger
shareholder base, in addition to our existing retail
base. The increased exposure will allow opportunity
for coverage, analysis and research from major
brokerage firms."
Hartcourt's mission is to become the leading
Internet company in China. During the past 8 months,
Hartcourt has acquired and merged 5 Chinese Internet
companies to create a major financial services and
data providing portal for Chinese investors.
The merged entity, Sinobull.com, will have more
revenue and earnings than any existing Chinese
financial portal. It is comprised of:
-UAC, the first national online stock trading system;
-Shangdi Network, the premiere financial data
provider;
-Guo Mao, the best commodities and futures data
provider;
-FTL, renowned financial data house of Hong Kong;
-StreamingAsia.com, the popular Web design and
software engineering group.
Sinobull.com commands a unique market position
thanks to existing brand names and licenses from its
subsidiaries, especially Hua Xia Info.
Last week, Hua Xia Info announced the launch of
its stock trading cable TV set top boxes, in joint
venture with Legend, the largest computer maker in
China, and Microsoft (NASDAQ: MSFT). These boxes will
allow Chinese investors to trade stocks online in the
comfort of their homes, via the Huaqing Shitai 162
network designed by UAC Online. Ernst & Young is
preparing the business plan for Sinobull.com's
anticipated IPO in the second quarter of 2000.
In addition, Hartcourt has another joint venture
with Innostar of Beijing and eSat Inc. (OTC: ASAT),
which will create the first and only wireless ISP
network and IP phone system across China via
satellite.
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.
