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"Lost" is one way to put it. Cheated, defrauded and lied to by multiple parties is perhaps a more accurate way to express it.
I too, it appears, have lost terribly through CCME
Rodman often has an investment banking interest in the companies they cover. Maybe it's part of the package, who knows.
Search the tombstones, you'll find some familiar names.
http://www.rodmanandrenshaw.com/recenttrans
Thanks. So that means if we fail to see a PR today that's not necessarily a bad sign.
Does anyone know if CCME has to announce their compliance plan (or at least the existence of one) to the public or just to the NASDAQ?
Will we see a PR tomorrow?
Agreed, it's just a hunch mixed with an unhealthy amount of personal cynicism.
I fully expect to see a plan tomorrow and it better be good!
So, business as usual? That's all I was really hoping in the first place. LOL!
I'm calling a 50/50 chance we either get a plan to stay listed on the NASDAQ or we get Cheng's resignation letter.
Place your bets.
It occurred to me that since the halt, the SA hit pieces have basically stopped.
Funny how all these people with "no position" in the stock have stopped "looking out for investors best interests" when there's no day-to-day financial gain to be had. You'd think they'd be busy getting to the bottom of all this.
Just an observation.
TSTC - Looks like they sure know how to take and spend shareholder's money. Would be nice to get a little shareholder value in return.
I hope, at least, they have a wing or two dedicated to collections.
CCME - I don't know, I'm sure the guy who bought those last $11.88's of CCME back on March 11th thought he could flip them for a quick profit when earnings hit. I'd love to play the potential UTA bounce tomorrow but I just don't know if/when the next shoe might drop.
Right now I'm just sitting on the beach waiting to see if it's safe to go back in the water.
UTA - Rato, I have to agree with you. Even trading in this space has become too hazardous. The price fluctuations might work but the real risk of an extended trading halt (CCME, NEP, NIV, RINO...) is just too great.
It wouldn't shock me if UTA or even TSTC might be next.
Since Ping quit/got fired I'll post the emails she sent me back on March 14th. FWIW. I'm sure anyone else who sent her an email that day got something similar. (Ping's messages are in bold)
Sent: Monday, March 14, 2011
To: Ping Luo
Subject: CCME
What do you have to say for yourself and your research? I trusted your work, what happened?
From: Ping Luo
Sent: Monday, March 14, 2011
Subject: RE: CCME
I did my honest work, my report is based on what I heard and saw.
If I am wrong, then the management has colluded 35+ people to lie to me.
But we don’t know yet, I suggest you wait until the audited report come out to say what you need to say.
To: Ping Luo
Subject: Re: CCME
Thank you for responding. It’s just that none of it makes sense right now, too much DD was done to have it just blow up in our faces like this.
From: Ping Luo
Sent: Monday, March 14, 2011
Subject: RE: CCME
True, both Starr and Deloitte have been with them for a year.
It may appear to everyone it is the end. Somehow I don’t think it is. Again I suggest you wait for the annual audit. I think most likely the stock will remain halted until then. We cannot do anything right now anyway.
Don't you mean your $4.29 hooker?
I'm waiting to see the company's plan to address the issues and stay listed (if they one) before I lose all hope.
Clock is ticking, I believe they have two more days. And it better be good!
Wow, you've finally convinced me. I'm going straight to my account and selling all my shares right now!
So it's a gut feeling based on your limited knowledge? I think the Yahoo board might be a better fit for you.
That would be a dramatic change in the story, what exactly do you base this on?
Because I would be very surprised if CCME is even in operation in the near future.
LIWA - I agree. Telling me what you're going to do doesn't cut it right now in this sector. Tell when you actually did something... Then I want to see proof!
Praising? Hardly. I'm not convinced the guy can tie his own shoes at this point.
Simply pointing out the short's perfect plan to pillage the company and get the hell out of Dodge hit a serious snag. They're trapped here in limbo with us when they thought they'd be out buying vacation homes and planning to take down the next company.
We already know we're screwed but if, by some miracle, the company comes back with a good story, some slice of the short's victory might turn into defeat.
Here's hoping! (because that's all I got right now)
Now we are praising the CEO now? could it be that he upset DTT and halt the trading on purpose?
Once again I'll say it... The shorts knew.
But they also "knew" they could cash in by now. They didn't count on the halt, it kind of screwed 'em. Lol!
Short Interest numbers:3/15/2011 8,069,024 1,880,702 4.290432
YONG - Beware the weak hit piece along with crazy put volume.
YONG may be in for a rough ride, remember MW and Citron are drunk with power right now and no doubt looking for their next victim.
I could easily be wrong, but my CCME spider sense is tingling here. Trade this with caution and don't be afraid to take a quick profit. Channel your inner JoeNatural.
When a CEO is going after message board posters it's definitely time to sell.
All I can say is, if the US was a company, Deloitte would have resigned a long time ago.
Sad ? The USA is a debt-ridden fantasy land where people are fat, lazy and want to be spoonfed.
If that's the case then you won't want to follow Warren Buffett into any trades either, he has a tendency to negotiate favorable terms like that too.
Not saying it's a good thing but it's hardly unprecedented.
I hope the SEC does another probe into the unraveling of these companies. There seems to be a lot of potential for criminal activity there too.
That's quite possible too. The shorts may have even helped in DTT's decision to walk.
I'm just trying to figure out their game so maybe I can recognize it next time... and go short! Lol.
No, the short arguments were ridiculous at times and easily refuted by the "facts" we had in front of us. Seems they were designed to give longs a false sense of confidence and draw us in deeper.
The shorts never told us what they really knew.
The real red flag I see in hindsight is just the fact they were willing to go all in like they did.
I don't know, those guys actually have offices and contact information, doesn't sound anything like our other shorts.
That looks like the wrong lmg... I think its these guys:
www.lmgpartners.com/home.html
London Management Group
There's only one thing I'm absolutely certain of right now, there are people flat out lying to us.
If I had to guess who it is, I'd say everybody!
Yet another day with tons of new questions and no real answers.
Anyone know who LMG Capital is?
"Lmg Capital LLC in Marietta, GA is a private company categorized under Investors (Unclassified). Current estimates show this company has an annual revenue of 130,000 and employs a staff of approximately 2. Phone: (800) 936-2010"
http://www.manta.com/c/mtcchc5/lmg-capital-llc
I think they may have found a way to raise that annual revenue.
It's absolutely comical that Starr had auditing rights and a representative sitting on the BOD yet they cite Muddy Waters and Citron as their evidence of fraud. CCME should just hire WCT Bills as their lawyer and get the case tossed out.
If Starr got scammed, it means they're complete idiots and have no one to blame but themselves!
This backs up my theory/thought that the shorts actively campaigned to create the event they all "warned" us about (DTT's resignation). If Deloitte quit because they were getting too much heat, that's messed up. The shorts have a big new weapon in their arsenal.
Look at all these "anonymous tips" and various funds sending allegations to Deloitte.
I strongly believe that Deloitte was taking too much heat and bailed at the last minute, thinking that they could clean their hands.
Starr had someone sitting on the board and they didn't know this stuff was going on? What chance did any of us have?
Stupid rumors from posters "who seems to have history of sincerity" is exactly why I DON'T read the Yahoo message boards.
If Dorothy didn't know, what chance did any of us have?
And how can anyone trust any company in the CGS space? The answer obviously is, you can't.
All I'm hoping for now is for CCME to come out with something that softens my lesson learned. Then I'm going to try hard to forget there's a country called China that exists on this planet.
CKGT - Look they have pictures of a cactus and vaguely real looking products in glass display cases. Not to mention a really nice drawing of their "future headquarters".
You just can't fake that!
When last we heard from the CEO he had these things to say. FWIW (which may not be much at the moment). I'm sure many investors went in deeper after seeing these reassurances about the state of the company.
http://www.ccme.tv/eng/ir/ceo_letter.pdf
ALLEGATION: The Company is a fraud and reported revenue is exaggerated by tens of millions of dollars.
FACT: The Company is strong and doing well. Its revenues and cash position have been audited by reputable and well-known auditors who have confirmed both.
ALLEGATION: The 2009 SAIC revenue does not match with our SEC reported financial results.
FACT: CCME’s SAIC reports were prepared in accordance with pertinent SAIC rules and policies. Our consolidated financial results reported in the Company's audited financial statements are prepared in accordance with US GAAP.
Thank you all. I particularly hope that the those shareholders who have remained loyal to CCME and share the vision I have to responsibly leverage our “tongzhi” and designation as the exclusive inter-city bus TV media by China's Ministry of Transport and thereby grow our revenue and profitability will accept my sincere and humble thanks for their trust and support. I am also heartened by the fact that many people have, unbidden, posted responses to these scurrilous attacks and have strongly supported the Company. They have done this on their own, and I thank them for their support. For the stock market speculators interested in enriching themselves through manipulation, information arbitrage and a “zero sum” gain, all at the expense of our investors, I am certain that their actions will ultimately catch up with them.
Zheng Cheng
Chairman, CEO and President
February 7, 2011
The shorts have created a ton of chaos and doubt and they're dying to cash in their chips while they're winning.
Each day that goes by there's a chance the story might change, they don't want that.
Here's hopin'.
I'll bet if we could somehow see who shorted and how much they shorted it would add quite a bit to the story. I know your average retail investor can't go naked on a short position.