Hartcourt Applies For Nasdaq NMS Listing
> LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 23, 2000--The Hartcourt
> Companies Inc. (OTC:HRCT <finance.yahoo.com/q?s=hrct.ob&d=t> - news
> ; Frankfurt:HCT), www.hartcourt.com
> <www.hartcourt.com>, today announced 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 the institutional investors to own Hartcourt shares, creating a
> larger shareholders' base, in addition to our existing retail base. The
> increased exposure will also 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 providers
> for Chinese investors. The merged entity, Sinobull.com, will have more
> revenue and earning 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, the oldest financial data house of Hong Kong and
> * StreamingAsia.com, the popular Web designer 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 stock trading cable set
> top boxes, in joint venture with Legend, the largest computer maker in
> China, and Microsoft (Nasdaq:MSFT <finance.yahoo.com/q?s=msft&d=t>
> - news ) the biggest software company in the world. These
> boxes will allow Chinese investors to trade stock online in the comfort of
> their homes, via a network designed by UAC. Ernst & Young was engaged to
> prepare a business plan to enable Sinobull.com to plan an IPO in the
> second quarter of 2000.
> In addition, Hartcourt has another joint venture with Innostar of Beijing
> and eSat Inc. (OTC:ASAT <finance.yahoo.com/q?s=asat.ob&d=t> - news
> ), which will create the first and only wireless ISP
> network and IP phone system across China via satellite.
> We would like to correct the statement that Chinadotcom (Nasdaq:CHINA
> <finance.yahoo.com/q?s=china&d=t> - news ),
> another leading Internet company in China, is a Chinese company and not an
> American company as previously mentioned in our last release.
> For further information, visit our Web site at www.hartcourt.com.
> LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 23, 2000--The Hartcourt
> Companies Inc. (OTC:HRCT <finance.yahoo.com/q?s=hrct.ob&d=t> - news
> ; Frankfurt:HCT), www.hartcourt.com
> <www.hartcourt.com>, today announced 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 the institutional investors to own Hartcourt shares, creating a
> larger shareholders' base, in addition to our existing retail base. The
> increased exposure will also 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 providers
> for Chinese investors. The merged entity, Sinobull.com, will have more
> revenue and earning 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, the oldest financial data house of Hong Kong and
> * StreamingAsia.com, the popular Web designer 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 stock trading cable set
> top boxes, in joint venture with Legend, the largest computer maker in
> China, and Microsoft (Nasdaq:MSFT <finance.yahoo.com/q?s=msft&d=t>
> - news ) the biggest software company in the world. These
> boxes will allow Chinese investors to trade stock online in the comfort of
> their homes, via a network designed by UAC. Ernst & Young was engaged to
> prepare a business plan to enable Sinobull.com to plan an IPO in the
> second quarter of 2000.
> In addition, Hartcourt has another joint venture with Innostar of Beijing
> and eSat Inc. (OTC:ASAT <finance.yahoo.com/q?s=asat.ob&d=t> - news
> ), which will create the first and only wireless ISP
> network and IP phone system across China via satellite.
> We would like to correct the statement that Chinadotcom (Nasdaq:CHINA
> <finance.yahoo.com/q?s=china&d=t> - news ),
> another leading Internet company in China, is a Chinese company and not an
> American company as previously mentioned in our last release.
> For further information, visit our Web site at www.hartcourt.com.
