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      China MediaExpress Holdings, Inc. CCME.PK

FUJIAN, China, May 19, 2011 /PRNewswire-Asia/ -- China MediaExpress Holdings, Inc. (CCME [ ] ("CME" or the "Company"), China's largest television advertising operator on inter-city and airport express buses, reported today that the Nasdaq Stock Market ("Nasdaq") has sent a letter to the Company indicating that it denied the request of the Company for continued listing on Nasdaq, and will suspend trading of the Company's shares effective at the open of business on Thursday, May 19, 2011. The Company intends to further appeal the hearing panel's determination.

8K:  On May 2, 2011, China MediaExpress Holdings, Inc. (the "Company") issued a press release announcing that the Audit Committee of the Board of Directors of the Company has retained law firm DLA Piper to assist in its investigation of concerns raised by Deloitte Touche Tohmatsu ("DTT") when it resigned as the Company's registered independent accounting firm on March 11, 2011.

The March 31, 2011,  8-K/A  clarifies that, prior to its resignation, "DTT raised the following issues (some of which may be considered to be disagreements) encountered during the audit, including: 1) issues related to the authenticity of bank statements; 2) a loss of confidence in bank confirmation procedures carried out under circumstances which DTT believed to be suspicious; 3) issues concerning the validity of certain advertising agents/ 4) customers and 5) bus operators (including with respect to certain of the 6) Company's top ten customers); 7) concerns over possible undisclosed bank accounts and 8) bank loans; 9) information on file with the State Administration of Industry and Commerce as to certain subsidiaries appearing to be inconsistent with comparable financial information provided to DTT; 10) the verification of the validity of a sampling of tax invoices issued in connection with certain large transactions; 11) the verification of certain subsidiary tax payments with the local office of the State Administration of Taxation; 12) the verification of salary payments made in cash directly to employee bank accounts; 13) the verification of the production process for advertising programs; and 14) the potential double counting of a certain number of buses.  As a result, DTT had requested that the bank confirmation process be re-done at the banks' head office and that the issues described above be addressed by an independent forensic investigation." (numbers added)



(Private suit by Starr Cayman II filed in Federal District Court in Delaware)

Good Read: CCME's Motion for Extension:  (See lines 8, 9, and 12 for groundwork of CCME's likely defense thus far)

2) DANIEL MCINTIRE, on behalf of all other similarly situated v. CCME

(Proposed shareholder derivative class action for purchases from 11/08/10 - 02/03/11. Suit filed in SDNY) 

Lawsuit info available from Pacer Federal Courts Access. It's 8 cents a page and worth the read.


47 New Job Listings           CFO Job Listing             DTT/CFO/Director Resignations

03/31 Deadline                        2010 NT-10K                    DTT Disassociation 3/31/11 (8-K/A)

RB Names Red Flags               Longs Likely Bilked      The Fix Was In

WCTBILLS BLOG                   CEO LETTER  (FEB 7)      

DTT Letter 3/25/11 filed in 8-K/A on 4/6/11                Marco Kung Resignation

CCME posts AAA credit rating.                      CCME posts CTR Report for 2011

Mitchell Nussbaum (Loeb and Loeb) calls for Enforcement Against Fabricated Hitpieces

CCME BOD retained Piper Law Firm who retained Big 4 PWC 

 A Flavor of Brands Advertised via CCME Media
Below icons identify 45 companies that have allegedly placed ads on CCME bus screens.  There may be more.  Video due diligence on CCME buses in February 2011 captured dozens of commercials including China Unicom, Pepsi, and Dove (see icons below) as well as Oreo Cookies, Menthos, and Wrigley's Doublemint Gum, L'Oreal, and the NBA. Whether CCME has relations with these companies or benefits from their mediabuyers is now unconfirmed.


     Company Websites Website Contents


CCME has signed contracts with many global and Chinese domestic companies or their distributors such as Eading Group (one of Apple's distributors in China),  Sony, Toshiba, Adidas, Nike, Samsung, Phillips, Skyworth, Supor and others, to feature these famous manufacturer's popular products.

The SWITOW shopping platform includes: 

  • Boutiques to be opened in certain major cities
  • SWITOW magazine to be distributed in CME's network
  • Contracted advertisers will provide the "lowest price guarantee"
  • Some items sold through SWITOW will offer a longer warranty period

Through the SWITOW platform, CCME contracting advertisers will be able to promote a wide range of their products including popular consumer items such as electronics, computers, phones, apparel, fragrances and cosmetics, and household items. Customers may place orders by either calling the SWITOW hotline, or via the SWITOW website.

CCME Business Description China MediaExpress, Holdings, Inc. [CCME.PK] plays ads on video screens in 27,400 or 27,200  coach and intercity buses in China.  CCME media reaches tens of millions of passengers each month.   Advertisers pay for access to the CCME bus screen media space. CCME video screens are placed on inter-city passenger coaches, airport shuttles, and tourist buses in major cities or scenic spots including Beijing, Shanghai and other cities and provinces including: Guangzhou, Tianjin, Chongqing, Guangdong, Jiangsu, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong, and Shanxi.

CCME provides advertisers with access to high and medium income bracket passengers who are a captive audience for each ride duration.   Advertisers on CCME video media include such famous brands as L'Oreal, the NBA, Oreo, Dove, and Pepsi. 

CCME also presently advertises a wholly owned product offering website to passengers on the video screens. CCME plans  to place actual Switow order catalogs on video equipped buses too. Through contracts with famous manufacturers or their distributers, offers such products as the Apple iPod, Nike sneakers, and Samsung electronics with a lowest price guarantee. 

Corporate Structure: CME, through contractual arrangements with Fujian Fenzhong, an entity majority owned by CME's former majority shareholder, operates the largest television advertising network on inter-city express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME receives the economic benefits of Fujian Fenzhong's operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on express buses in China. CCME's  underlying operations are sometimes called "CME". 

Share Statistics:  1)  Issued and Outstanding:  34,290,552 shares  2) Preferred Shares Outstanding: 1,000,000 (convertible 3:1 into common shares)   3)  Warrants Outstanding:  3,015,799 warrants

Share Earn Out:  The former shareholders of CME may earn up to an additional 15.0 million shares of common stock subject to the achievement of the following net income targets for 2009, 2010 and 2011:

Year Net Income (RMB)
Net Income (US$)(1)
287.0 million
$42.0 million
1.0 million
570.0 million
$83.5 million
7.0 million
889.0 million
$130.2 million
7.0 million

Videos               24 Videos                                           Pepsi Informercial


Financials          Short Interest                                     SEC Filings                      Tweets About CCME

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Other                       Translation (Eng<--->Chinese)            Audit Standards               SEC Complaint  ___________________________________________________________________________________________________________________

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#34462 Fi 05/28/16 08:55:13 PM
#34461   Still waiting here too. No $$ back yet. Fi 05/28/16 08:53:44 PM
#34460   Not me ... still waiting! stills999 05/27/16 11:14:18 PM
#34459   Anyone get a check yet? Nealio 05/10/16 12:19:08 PM
#34458   When is the settlement money coming thru? Anyone Nealio 02/29/16 03:37:47 PM
#34457   Is CCME still in business. Not that it stocknovicehere 10/17/15 07:59:01 AM
#34456   I filled out the form I fit into LootForMe2 10/14/15 06:23:53 PM
#34455   I think the amounts to be paid will value1008 10/05/15 01:34:25 AM
#34454   Well I sent my claim off on the Chesterfield 10/05/15 12:18:35 AM
#34453   I got the good news today when i value1008 09/30/15 10:11:46 PM
#34452   Nice info on the litigation. Anyone have pumper_stumper 09/27/15 07:49:40 AM
#34451   Received a letter from CCME Securities Litigation today LootForMe2 08/20/15 02:48:54 PM
#34450   If you took your lumps by or before pos_stock_hoarder 06/27/15 03:33:06 PM
#34449   Received this message in my inbox from Yahoo Fi 05/07/15 08:52:18 AM
#34448   Haven't followed the CCME story for a long forzagrifo 04/16/15 01:34:06 AM
#34447   weeeeeeee tbirdman 11/03/13 12:41:49 PM
#34446   i completely agree, ecomike. value1008 10/13/13 08:11:00 PM
#34445   SEC's job seems to be to let the Ecomike 10/12/13 10:18:40 PM
#34444   couldn't agree more Floridana 10/12/13 09:33:00 PM
#34443   I haven't read the filing yet, Chesterfield, just Renee 10/04/13 09:41:16 PM
#34442   Thanks! Anyone know if any cash will be forcoming? Chesterfield 10/04/13 09:39:22 PM
#34441   fka CCME: SEC Litigation: Renee 10/04/13 04:32:20 PM
#34440   Too little and WAY too late. This company MrMajik55 07/17/13 02:57:49 PM
#34439   I remember CCME trading $20 [SMART MONEY] 07/11/13 08:02:32 AM
#34438   SEC Charges China-Based Company and CEO in Latest samsamsamiam 06/21/13 10:09:52 AM
#34437   herbgreenberg Jun. 20 at 10:21 AM gold80302 06/20/13 12:31:38 PM
#34436   I had to fill out a "Worthless Securities" Floridana 05/23/13 01:58:52 PM
#34435   I'll take it. tbirdman 05/15/13 07:38:01 PM
#34434   I have plenty that you can have at tbk420 05/15/13 06:33:41 PM
#34433   lmfao Bob Stocks 04/04/13 08:12:12 PM
#34432   I think you are a couple days late nsomniyak 04/03/13 01:26:59 AM
#34431   This stock looks very undervalued! tbirdman 04/03/13 01:03:03 AM
#34430   No. I may not have been clear. nsomniyak 03/24/13 12:58:27 AM
#34429   Yes almost 7 years,,,I have ton of losses swampboots 03/23/13 08:28:35 PM
#34428   It's kinda different than here then. So if Traderfan 03/23/13 06:24:35 PM
#34427   Here in the US you can use losses nsomniyak 03/23/13 10:49:21 AM
#34426   Who cares WHERE you sell it as long Traderfan 03/23/13 09:32:26 AM
#34425   Who cares WHERE you sell it as long nsomniyak 03/22/13 10:41:11 PM
#34424   Well you could have sold at 4 bucks Traderfan 03/22/13 11:42:40 AM
#34423   Why am I still holding? Why not. There MrMajik55 03/22/13 11:37:36 AM
#34422   I don't get why are you still holding Traderfan 03/22/13 11:27:21 AM
#34421   With Starr getting 77 million that can't leave MrMajik55 03/22/13 11:23:01 AM
#34420   Chesterfield...I think the chances are good. the question stocknovicehere 03/17/13 11:59:48 AM
#34419   Anyone know if this paves the way for Chesterfield 03/14/13 07:35:52 PM
#34418   This was on Burp's page. Starr won Aggie9518 03/14/13 04:14:23 PM
#34417   TDA L2 showing MrMajik55 03/13/13 10:51:45 AM
#34416   The following from YMB... stocknovicehere 03/04/13 05:00:09 PM
#34415   Did the screens have the company name on them? Cburg 02/24/13 12:28:35 PM
#34414   China MediaExpress probably still operating in China. robinfcb 02/18/13 02:05:16 PM
#34413   I found this as an active class action lawsuit Shermadog 01/17/13 02:27:39 PM