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I would be dramatically more upbeat and frankly could care what's said in lawsuits or accusations
Because that's the big part of the game -
The big negative is almost complete silence - I own little cagc and people actually talked to them and they said business is running normal - the forensic audit is separate so we can't comment or say anything until it's done but their was voice -
I haven't heard anybody hear one thing from ccme - not a peep .
If ccme said anything from we can't comment until the lawsuit is over ect
The only bullish point is if you look at staar original agreement it was very strict with massive penaltys against ccme management - does anybody have the original investment document .
It had clauses that if ccme was a fraud cheng would lose shares -ect but it was very strict.
If ccme is 90%real and 10% fraud staar has them by the balls for dramatic more than their original investment so ccme goes dark to try to force staar to settle -
I need to look for the original staar investment clauses
THEIRS ONE POSITIVE THING
thats it and its far reaching-ha but i emailed Nussbaum and posted here and nicely asked him why no press releases ect-
His response was that their will not be a release until investigation is complete.
he's a high end lawyer- thats the only positive because if piper or PWJ were not working on the case or CCME was a fraud why would he respond to an email stating exactly their will be no press release until investigation is complete. Complete is the word in the email-
hey reaching at straws but thats all i got-
again- CAGC took 8months- no press release-same WSJ article as CCME- came back clean stocks gone 50 cents to 3.20 in two weeks-
PWC work- can you elaborate-dont remember seeing anything on filing about piper or pwc
One huge reason
They are getting sued big time from staar- until that gets settled I don't think anybody expected any news
I think the negative or positive is for whatever reason the court dates keep getting pushed forward and both parties agree
The positive is staar and ccme are trying to negotiate a deal based on reports then ccme will move forward
Or ccme going to pay staar under the table and screw every shareholder
Cagc on bloom berg
Glickenhaus fund was there - son went over did a ton of research - another big fund owns it too
His point on bloom berg - the shorts completely made up their research and bombed the stock in which caused massive turmoil and fear with auditors and investors
The whole thing was basicly made up with shorts and blogs - the company is working on lawsuits right now
After the investigation the company is completing all it's back audits
Hey it's takes a longtime - loeb boys said the wheels of justice always takes a long time
2.40$ on cagc
CAGC had same theme as CCME- big investors who did their research
CAGC-glickenhaus did on the ground research on cagc
I dont care what anybody says their was massive research on CCME from on the ground investors and STAAR-
However, even with a ton of research with ccme or any company, insiders can steal your money-hide it even if the business is real-
CAGC took 8months with ZERO prss release before coming out and saying all allegations was false-stock went from 50cents to about 2$ today
However, your right the odds are against us the longer it takes which is common sense
4-5 active market makers today
usually its only one-
weird
global halt-discount houses
any word if you can buy ccme at etrade-schwab-ect
CAGC 100% clean in 7 month foresic audit
Shorts guarateed this was a fraud
CAGC just came back
and it took 8 months- hope baby
Global halt lifted?
The previous post- guy said that his broker said global halt was lifted you can trade the stock ?
I haven't seen anything about that ?
Thanks for update-so strange
Staar comes out guns blazing in court-its a ton of money even for them -then STAAR AGREES on a delay for whatever reason and now another delay with ZERO news from staar-
so strange but probably par for the course
The charges are basicly similiar or worst CCME
Basicly overstating LCD by 30-50%-same deal with CCME in which he said at least 50%
You know DTT is awfull auditor in counting these devices.
The insider dealing looks worst for FMCN
you wonder if CCME came public with same model- accountants becaucus FMCN stock had been great
The big difference if FMCN has bought back 300million in stock so far and expanded it to 600million- that kinda money is coming from somewhere muddy waters-
Very interesting especially overstating of LCD just like CCME
muddy goes fmcn- wow
referencing overstatement lcd like ccme-
No news- i talked to Marco Kung
whi is the controller of Wuyi trying to set up a meeting with the Linn brothers and risk Wuyi had because of the fraud charges against the linn Brothers- He politely responded that because of the Staar lawsuit that they couldnt reply on anything.
I emailed Nussbaum and made fun of him when CCME was going to release the finding of piper and stock is 11 cents- No response
I'll keep harassing these guys-but nothing-sorry
Sino forest completely cleared
Like DTT gets these unknown emails then DEMANDS a forensic accounting in which they get paid to do it- You have wonder if its just a bribe from DTT- These forensic accounting cost firms a fortune- KEYP paid 5 million bucks to do it-
As Carson Block stated early that the accounting firms might be invloved in the fraud in China- The question is fraud with the management, the shorts and or basicly easy way to extra millions more in fees for these special committees-
SEC Inspections=CGS Sector Safe & Investable,Inspections will Happen in Q1,2012
____________________________________________
BERLIN, Oct 18 (Reuters) - A top U.S. securities regulator on Tuesday said he is optimistic about negotiations for joint U.S.-Chinese inspections of auditors in China, and downplayed officials' inability to so far set a date for a second round of talks.
Ethiopis Tafara, director of the Office of International Affairs at the Securities and Exchange Commission, said regulators have not yet scheduled a Chinese delegation visit to Washington. A meeting had been expected in October.
"These typically are large delegations, and coordination of views and schedules takes time," Tafara told Reuters on the margins of a regulatory conference.
"The talks have been good so far and lay the foundation for further discussions about the manner in which we can cooperate."
There has been growing U.S. concern over accounting practices at some U.S.-listed Chinese companies.
An SEC review of accounting problems at foreign-based stock issuers sharpened its focus earlier this year when dozens of China-based companies began disclosing auditor resignations or book-keeping irregularities.
For example, Deloitte Touche Tohmatsu CPA Ltd in May resigned as auditor of Chinese software company Longtop Financial Technologies Ltd , saying it had found falsified financial records and bank balance confirmations.
The SEC, Justice Department and Federal Bureau of Investigation are investigating the accounting methods of certain U.S.-listed Chinese companies.
At the same time, the SEC and the Public Company Accounting Oversight Board, which regulates corporate auditors, are negotiating with Chinese authorities to create a protocol for future joint inspections of Chinese audit firms.
U.S. and Chinese officials held an initial round of talks in Beijing in July.
Earlier this month, PCAOB Chairman James Doty warned that time to reach a deal may be running out.
If the Chinese do not agree to joint inspections, "we will have to consider using the tools we have at our disposal, and which the Congress gave us for this purpose, to protect investors," Doty said at a speech in Washington in early October.
Regarding international accounting standards, Tafara said the SEC will decide by the end of this year on whether to adopt International Financial Reporting Standards. However, he said there is no specific date set for that decision.
International accounting officials have been pressuring the SEC to make a decision soon, arguing a single global standard would reduce companies' cost of capital.
____________________________________________
(CGS Sector is A Rocket in Q1,TSTC Wont Be A Single Digit Midget By Then/Hope They Dont Get Bought Before Then!) Rating :
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THX aerl- taking a look at it now
STV is very interesting- they have paid like almost 4$ one time dividends in last 3 years and stock is under 4$- I told them they should tender offer for 50% of the float at 6$ or 60million then start paying dividends . But they returned already huge chunk to shareholders
ATV- insider tendered 20million bucks offer at 6$ and now have control- i think eventually they get taken private 6-7$-now trades under 5$
FSIN- is the most interesting one-see HRBN - but theirs a 11.50 offer-Abax is behind it too-I dont see how this one does not go thru because its a good deal with not huge financing as HRBN plus their biggest holder is legit GMT capital owns almost 5mill shares-i own nov 5 calls- The deal is dead or alive in nov-
No idea and thats the problem frankly with all of them
However, if you look at every financial crisis on any sector at the bottom nobody has a clue- In the financial crisis who who knew
that BAC at 2.75 then a rally to 17$ or aig reverse split at 7-8$ to a monster rally to 60$- the same with tech bust, India internet fraud, Asia currency crisis, Argentina debt default ect
The only good news is Mr market at bottom discounts everything to oblivion and this sector is no different
frankly, the bad thing is the news and price action is not there in the sector- I have no clue on CCME or anybody else in this group thats 98% of the delisted stocks are under 50cents- Im trying to keep in open mind because every financial crisis is where the big money is made- The big problem HERE is you can only go to zero when you have debt- Debt gets paid before equity so what happens is equity gets wiped out- CCME and most of the group have ZERO debt so in theory even if they overflated revenue, stole money,ect their equity should not go to zero and should recover SOMEWHAT- Thats in theory but we have NEVER dealt with this Chinese thing where it seems a lot of them just want to hide in China and ownership structures of the VIE. China is becoming more open and has bigger internet users than USA- this is not 1960's I find it hard to believe that these guys could just hide in China without some repurcussions from media, internet blogs , lawyers, SEC of China- Im trying to keep open mind not just CCME but whole group-but in reality news has been zero- hoping it changes- Could LINN brothers rip off CCME but have viable company in Hong Kong?
Rodman drops coverage of Chinese stocks
Probably very bullish -ha
Snda going private- I still believe this sector will be a major homerun in the future- Mainly based on dramatically reduced supply
from shares being down 50-60%, potentially around 2-4bill supply taking off market in takeovers, prob around 1-2 billion of supply being taken out in insider buying and buybacks- no new supply as Rodman was one of the biggest pipe-reverse mergers out there- Obvious the index funds, investors dramatically underweight the group. The problem obvious is to find the survivors or the ones that make it- I bought CCME because i still think it was most researched reverse merger out there so it had to have some legitmacy to it-obvious dead wrong but still following sector very closely-
Email Nussbaum anybody
I emailed 3-4 weeks ago about any info on CCME and Piper ect- I was Shocked he emailed me back saying usually you cant say anything until the investigation is complete- SADLY- i would say that is the only somewhat good news on ccme- Meaning if Piper had resigned or something he would not reply back or refer to you need it complete-
Anybody can email Nusbaum-go to Loeb and Loeb- his email address is there- Obviously be nice and SAD and my question would be why cant CCME give an update when the investigation is going and will be complete CMON stock 15 cents and there been zero news for months-
It wont hurt and he might throw you a bone
I emailed him a bit so i dont wont to be a pest thats why a different name-tell him little about you-might reply throw us a bone
just a thought- have a great day
Wuyi pharma
Which is linn brothers Company that trades in hong kong - you can google it . I emailed them said I was interesting in buying their stock but was concerned of the massive fraud allegations against their management regarding ccme and repercussions that it could do to Wuyi not just financially but the confidence in the ethics of linn brothers - I asked them to set up a meeting with friend who is in hk in 2 weeks or phone call
I'm sure I get know response but it still feels good rubbing into those linn boys in Wuyi
Watg case study
Obvious I've been researching the group since it might be worst performing sector basically ever recorded in the markets and common sense will tell you the ones legit you could make a fortune - you got some good news out of keyp which paid a dividend and looks it might be one of few to comply and not get delisted -
Back to watg in which lot smart money again verified the business - the big thing out their is third party transaction and cash verification - everybody knows the fuqi story . Watg chairman basicly bought 4 related business for 17 million that looks to be almost dummy companies in which he held equity stakes and his brother in law . It's very sad affair because my belief in china is emerging market and their accounting practice is not mature as developed countries so you could have accounting problems . But a lot what you are seeing is not so much with the core business but outright fraud to steal money . Remember , unlike Enron and others where their massive insider selling - this group has almost zero insider selling . So the fraud is basically to do backdoor deals for the CEO to steal money . The simple sad fact is almost every one of these companies their accountants have signed off in previous years too .
You still do not know the outcome in this whole group but with ccme I think investors just want the truth .
Value investor please do not respond because I have my daughter for the day so I'm busy ha
DTT is a scam so why even rely on them for anything-
You keep using them as reference- they are a complete joke and might have their licensed revoked- Their advisory division which is seperate from audit said the company is completely legit thats why Staar invested. In 2010 the same audit firm signed off on everything.
What does your document say about " ongoing investigatio
yes i believe that was the date?
http://finance.yahoo.com/news/USlisted-Chinese-firms-drop-rb-2776652160.html?x=0&.v=1
It will be interesting how this plays out but it so BIG that both Governments are PISSED and i think will force the TRUTH-
China is going to ban VIE's because of this fraud thing because they cant regulate them
USA SEC and justice department are involved.
Who knows
But my best buddy is a high end corporate lawyer and he said no way staar keeps on accepting the dates pushed back unless they get something that makes them feel somewhat more comfortable
Stay safe it's ugly out there
Truthfully - I would be really bullish if this was a distressed case in this country because I think their is somewhat value here and not just ccme - the big negative does ccme and others just go silent or admit say fraud of even 5-25% - which would be great for shareholders at these prices but what happens CEO - that's the big problem -
Why would Staar also agree to keep moving the date up unless CCME lawyers gave them something concrete or positive? Just common sense- what it does for our shareholders is another story but if Staar thought their were in the bahamas or raping the company at this point why AGREE on the delay- makes sense- ask any lawyer but ccme had to give them a positive bone-
Thanks so much for the info - much appreciated
Thanks - great reading lawsuit - what did Dorothy actually do on the board ?
Post the document again :
I read it and other people quoted highlights like I just posted - I tried to go back and read it again but it was gone .
I thought you were banned from this board but was let back if you would post the court documents ?
I'll read the document again -
Hey I think it's a fraud with major problems - stocks under 1$ not 20$ -
This was posted here on the filing regarding the buses -
Page 61: "DTT concluded that the bus information provided by Fujian Fenzhong was inaccurate. Fujian Fenzhong claimed that there were 22,205 buses playing CCME programs but DTT concluded that this number was overstated by approximately 1,330 busses."
I thought figures were inflated by 100% ! The numbers provided there make the fraud seem light.
Post 33247
Post in that range posted info from pacer regarding the filings -go back and read it - I didn't post anything .
On staar lawsuit they stated that the number of buses were like twenty thousand and they might be overstated or double counted but the 20k buses is still a lot and overstatement was like 2-3% if my memory is right - don't remember the exact - so their is abusiness but obvious the size - profitability and cash at the firm is obvious the big question - As was quoted on wsj from ccme - the piper audit will prove all the major accusation by muddy and others will be proven false . The question is " major " and we have not heard anything . The only other positive is Nussbaum - and staar keep delaying the court hearing . Hopefully , ccme had to give staar something because they came out guns blazing then backed off a bit ? Thats only positive and it's a major stretch but so it lottery ticket too- ha
Ibd has article on short selling and Nussbaum commented
“They carpet-bomb the company with allegations all over the place,” said Mitchell Nussbaum, chair of New York law firm Loeb & Loeb’s emerging-markets practice, which represents Chinese firms in the U.S. Nussbaum says if some claims haven’t been disproven it’s because SEC findings or independent probes are pending
Their have already been new rules regarding their structure and you will see dramatically new rules on the structure and laws on vie very soon - it's been reporter all over china - it might not have any impact on existence vie's but more the future -
It was widely reported the Chinese SEC is very upset with the fraud over VIE structure and they have no ability to enforce rules on these companies -