Hat Euch jemand mal was von dem Unternehmen HARTCOURT gehört. Der folgende Artikel und die Umsätze dieser Aktie sind interessant (Notierung auch in Berlin):
Hartcourt to Participate in National ISP Venture in China
Tuesday, July 20, 1999 12:00 PM
LOS ANGELES--(BUSINESS WIRE)--July 20, 1999--The Hartcourt Companies Inc. (OTC BB: HRCT)
Tuesday announced that it has signed a Joint Venture Agreement with IPC Technology International
Ltd. to establish a nationwide internet service provider in China.
Hartcourt will undertake to raise $45 million in debt and equity for the joint venture, while IPC, a
representative of a major Beijing Internet corporation, will provide it with a national license, an operating
agreement with China Telecom, and a 200,000-subscriber base within 24 months.
Both parties are committed to provide the most sophisticated technology for the system infrastructure
in addition to strong strategic alliances for its marketing program. The national license will also allow
the joint venture to engage in e-commerce activities and other Internet services.
The joint venture will be called SINONET, and should start the operation within six months . IPC will
hold 65 percent and Hartcourt will hold 35 percent of ownership in the ISP joint venture. Hartcourt has
the option to purchase an additional 16 percent once the Chinese government changes its policy of
foreign participation in the telecom industry, especially when China is admitted to the World Trade
Organization (WTO).
While there are more than 400 ISP licenses in China, less than 50 are operating and their operations
are limited to the county or the city in which they are licensed. There are only four national licenses;
the biggest is CHINANET, which is owned and operated by China Telecom.
A national license will allow the joint venture company to operate in any county or city, making the
marketing of its services easier, especially in creating brand name for SINONET. The
200,000-subscriber base will create the third-largest ISP in China.
Dr. Alan Phan, chairman and chief executive officer of Hartcourt, said, "Previously, our deal with a
Chinese ISP could not be completed due to the issue of management change and company liabilities.
This joint venture is definitely a much better proposition. The JV will start without any liability, and will
have 200,000 subscribers by year 2, guaranteed by the Chinese partner. With the explosion of Internet
usage in China, the potential for SINONET to become the leading ISP of China is not far-fetched."
Jansen Wong, chairman and president of IPC Technology, said, "We are delighted to work with
Hartcourt management. From the beginning, we found them to be strongly committed to the goal of
being the best Internet company in China. It is our same objective. The Chinese consumers will greatly
benefit from this venture because we will bring the latest technology to SINONET, and a customer
service program unparalleled in China."
Four weeks ago, Hartcourt announced that it has signed an agreement to purchase 35% ownership in
UAC Stock Trading OnLine. Phan said, "With the investment in UAC and this joint venture with IPC,
Hartcourt is in a unique position to become a household name in the Asian, and perhaps the global,
Internet industry."
Certain statements in this news 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
achievement expressed or implied by such forward-looking statements to differ materially from the
forward-looking statements.
CONTACT: The Hartcourt Companies Inc.
Dr. Alan V. Phan, 562/426-9796
Quote for referenced ticker symbols: HRCT
© 1999, Business Wire
Hartcourt to Participate in National ISP Venture in China
Tuesday, July 20, 1999 12:00 PM
LOS ANGELES--(BUSINESS WIRE)--July 20, 1999--The Hartcourt Companies Inc. (OTC BB: HRCT)
Tuesday announced that it has signed a Joint Venture Agreement with IPC Technology International
Ltd. to establish a nationwide internet service provider in China.
Hartcourt will undertake to raise $45 million in debt and equity for the joint venture, while IPC, a
representative of a major Beijing Internet corporation, will provide it with a national license, an operating
agreement with China Telecom, and a 200,000-subscriber base within 24 months.
Both parties are committed to provide the most sophisticated technology for the system infrastructure
in addition to strong strategic alliances for its marketing program. The national license will also allow
the joint venture to engage in e-commerce activities and other Internet services.
The joint venture will be called SINONET, and should start the operation within six months . IPC will
hold 65 percent and Hartcourt will hold 35 percent of ownership in the ISP joint venture. Hartcourt has
the option to purchase an additional 16 percent once the Chinese government changes its policy of
foreign participation in the telecom industry, especially when China is admitted to the World Trade
Organization (WTO).
While there are more than 400 ISP licenses in China, less than 50 are operating and their operations
are limited to the county or the city in which they are licensed. There are only four national licenses;
the biggest is CHINANET, which is owned and operated by China Telecom.
A national license will allow the joint venture company to operate in any county or city, making the
marketing of its services easier, especially in creating brand name for SINONET. The
200,000-subscriber base will create the third-largest ISP in China.
Dr. Alan Phan, chairman and chief executive officer of Hartcourt, said, "Previously, our deal with a
Chinese ISP could not be completed due to the issue of management change and company liabilities.
This joint venture is definitely a much better proposition. The JV will start without any liability, and will
have 200,000 subscribers by year 2, guaranteed by the Chinese partner. With the explosion of Internet
usage in China, the potential for SINONET to become the leading ISP of China is not far-fetched."
Jansen Wong, chairman and president of IPC Technology, said, "We are delighted to work with
Hartcourt management. From the beginning, we found them to be strongly committed to the goal of
being the best Internet company in China. It is our same objective. The Chinese consumers will greatly
benefit from this venture because we will bring the latest technology to SINONET, and a customer
service program unparalleled in China."
Four weeks ago, Hartcourt announced that it has signed an agreement to purchase 35% ownership in
UAC Stock Trading OnLine. Phan said, "With the investment in UAC and this joint venture with IPC,
Hartcourt is in a unique position to become a household name in the Asian, and perhaps the global,
Internet industry."
Certain statements in this news 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
achievement expressed or implied by such forward-looking statements to differ materially from the
forward-looking statements.
CONTACT: The Hartcourt Companies Inc.
Dr. Alan V. Phan, 562/426-9796
Quote for referenced ticker symbols: HRCT
© 1999, Business Wire
