May 7th, 2000
Dear Shareholders:
As I prepare to leave for China, I would like to update you on the
progress we have made recently. The SinoBull.com web site continues to be
very popular, averaging 1.6 Million page views per day. The hard launch
of the site has been scheduled for the end of June when the technical
upgrade of our servers and telecommunications should be complete. Five
operating units within SinoBull are recording increased revenues; and
some are acquiring smaller companies to complement their core business.
Dr. Charlie Yang will be in China starting this week to spearhead the
Innostar JV wireless project. Mr. Manu Ohri, our CFO, is working with BDO
to complete the quarterly report (Form 10Q) on time. Outside Directors
and a new CEO are still being negotiated with, and new strategic
alliances are being formed and finalized by our technical team.
The three major targets our top management is focusing on are: the
NASDAQ NMS listing, the IPO underwriting agreement for SinoBull and the
acquisition of a major Internet infrastructure company in China. I know we
are very close to the finish line; but of course, it's very difficult
to pinpoint the exact dates, because not all the factors are within our
control. We all know that the completion of these goals will propel
Hartcourt into the next orbit; so we are throwing everything we have into
meeting this challenge. We will arrive. Soon.
Last week, Hartcourt management had an all-day retreat to re-define our
goals, to evaluate our positions, to strategize our moves, to assign
specific tasks and to set timetables and performance standards. It
Dear Shareholders:
As I prepare to leave for China, I would like to update you on the
progress we have made recently. The SinoBull.com web site continues to be
very popular, averaging 1.6 Million page views per day. The hard launch
of the site has been scheduled for the end of June when the technical
upgrade of our servers and telecommunications should be complete. Five
operating units within SinoBull are recording increased revenues; and
some are acquiring smaller companies to complement their core business.
Dr. Charlie Yang will be in China starting this week to spearhead the
Innostar JV wireless project. Mr. Manu Ohri, our CFO, is working with BDO
to complete the quarterly report (Form 10Q) on time. Outside Directors
and a new CEO are still being negotiated with, and new strategic
alliances are being formed and finalized by our technical team.
The three major targets our top management is focusing on are: the
NASDAQ NMS listing, the IPO underwriting agreement for SinoBull and the
acquisition of a major Internet infrastructure company in China. I know we
are very close to the finish line; but of course, it's very difficult
to pinpoint the exact dates, because not all the factors are within our
control. We all know that the completion of these goals will propel
Hartcourt into the next orbit; so we are throwing everything we have into
meeting this challenge. We will arrive. Soon.
Last week, Hartcourt management had an all-day retreat to re-define our
goals, to evaluate our positions, to strategize our moves, to assign
specific tasks and to set timetables and performance standards. It
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