Hartcourt Applies For Nasdaq NMS Listing > LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 23, 2000--The Hartcourt > Companies Inc. (OTC:HRCT <" rel="nofollow" class="showvisited">http://finance.yahoo.com/q?s=hrct.ob&d=t> - news > ; Frankfurt:HCT), www.hartcourt.com > <," rel="nofollow" class="showvisited">http://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 <" rel="nofollow" class="showvisited">http://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 <" rel="nofollow" class="showvisited">http://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 > <" rel="nofollow" class="showvisited">http://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. |