Married
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I see the stock has had over a 30% pullback from last week highs on almost no volume. Picked up a few shares today. Let's hope this CEO follows through and continues to create value.. I like buying after a pullback especially with the volume were seeing
I agree and for a company that is just about to have all these explosive news events they must be very very tight lipped as market almost always knows it ahead of average retail investor. Volume is 0 omg... Very low liquidity here now I understand the outrageous spreads. I guess on the good side when and if volume ever shows up it will move hard. I am just disappointed with recent volume and hope things change soon
Volume and spread are pathetic... It looks to me like a bit of patience can get you a nice entry
Equity,
This company has an interesting business model and appear to target the latino population which these days in america can be a very profitable proposition. I hear the CEO says some of the larger shareholder plan to buy back shares, does he mean purchase shares on open market? Shares outstanding are 39M with about 14M in the float. What is the predicted EPS for the coming quarter? Picked up a few shares as I am still resarching this more to determine the companies real future value using forward looking EPS.
Spread is crazy .23 by .30, MM screwing the small retail investor I see.
Thanks,
Eric
People may be selling because if the company wasn't a fraud don't you think they might be buying their own stock now that its almost worthless yet they have 200 m cash lol....that's why I sold glta , do what's best for yourself but this company just plain sucks. Just my 2 cents. Wait that's all that's left anyway
I agree and many of us have held a long time, it nice to see it get some notice. Found it interesting that we have discussed we thought these guys are good buy out candidate in light of their recent comments. Who knows maybe by this time next year. Wtg all longs, I really needed it after ccme debacle
The company's management let down every single shareholder by letting it be delisted and not providing one single bit of news since his letter. This is a fact and is why it is trading where it is. At this point no one knows what if any value exist because there is no information or facts. I feel like this isn't even a public company with the complete lack of information. Every shareholder has been done great wrong by Cheng that's a fact. I just hope for the loyal honest shareholder some value some how is retained, but until public information is released nobody knows!!! SAD!!!!
Cheng reamed us all..If he cared 1 iota there would have been major effort to keep us listed. The new lawyers and audit are to protect Cheng and his lawsuits not shareholders IMHO .. that's my opinion and why I dumped 90 % of my near worthless shares. This bs has gone on to long and Cheng deserve the worst Chinese torture known to man I think. The damage is done to the loyal shareholder and the CEO continues to keep his foot and his nose up his own ass.... You Think when your a nasdaq listed stock the 10 k and 10 q's are worth something lol well when your PINK they can put any story they want. Little red riding hood is real in their next audited 10 k.. good luck all but at this point that's my cynical perspective. Hope I am 100% wrong for the loyal shareholder but too much for me to believe anything at this point with this company... Oh Nit wit you were wrong stock went down today I guess your not perfect and infallible after all.
Wow now this is what I call a chinese corn hole.. Thanks Cheng I didnt ever expect to feel a reaming like this.. Can only wish what comes around goes around. Could this company have done anything more to NOT protect the shareholder.. Hope the shareholder class action suit is as successful as can be.
GLTA and wow what a learning experience... I aint touching chinese stocks.
100 BUY 4
10000 BUY 3.9
3600 BUY 3.85
1900 BUY 3.85
1000 BUY 3.85
10000 BUY 3.85
100 BUY 3.85
3500 BUY 3.85
1600 BUY 3.85
5000 BUY 3.85
3900 BUY 3.85
4500 BUY 3.85
500 SELL 3.8
25000 SELL 3.8
5000 SELL 3.8
4500 SELL 3.8
600 SELL 3.8
2500 BUY 3.85
2300 SELL 3.82
200 BUY 3.85
5000 BUY 3.8
TRADES SO FAR.. DONT PANIC
Interesting to see 975,000 shares on the bid right now at .205 by MM UBSS on level 2.. Looks like lots of support at this price...
I am sure your right but you can't blame a guy for trying.. I have to put a bid in and see if I can get lucky on a few... :)
MM Just keep uping the bid and wont fill...Smoke and mirrors! I make it such that bid closes at .25
Interesting almost a 10 cent spread on the stock today..Level 2 shows .225 on the bid and .32 on the ask??? Might be a chance for someone to pickup a few cheapies.
Love this stock.
Eric
Some nice buys going through above .35, its been long overdue and nice to see for a change.. Nice to the stock getting a little recognition.. Hope it continues for awhile and WTG all longs.
Eric
P.S. Great Volume today!!!!!
Raw,
It was nice to see the stock is getting a little notice. I still think this is a great candidate for a buyout some day and continue to hold my original and my added shares as I think its worth no less then .50...
Look forward to their filings.
Eric
Bullmarkets,
In my contact with a few lawyers I am hearing the opening motions indicate that the largest loss on CCME for the retail shareholder is over $3.2 million. Is that consistent with what others are hearing (I belive this is based on current owned shares are valued at zero) from their discussions with the lawyers. I sure hope the class action suit includes Deloitte as appropriate, as I am sure many investors, invested in CCME based on the audit of the SEC filings, and the accuracy of their audit.
It was sad to see CNBC could not accurately outline the state of the stock and that Carson Block and Herb G both dont even realize the stock is currenlty NOT DELISTED. I sent in my comments to CNBC.
Eric
The stock seems fair valued at as low as .40 and as much as .80 pending their EPS and using a forward PE of 10. In addition, it has been pointed it out it has re-occuring revenues and appears to be fairly tightly managed. These reason and the mention of them going to double shift convinced me to buy more after owning it for over a year (with little ROI). Just my opinion but the timing seemed right to me. Good luck in your choices and make your own decisions based on your own conclusions and re-search.
I hope the company improves it Public Relations in the near future.
Eric
P.S. I always look for the dips to add.
Sure, I sent it to:
insidenasdaq@nasdaqomx.com
Eric
Sent this to NASDAQ in hopes of them keeping it halted until the truth is available.. It appears at least they pass it on.
Eric
Original Message -----
From: Inside Nasdaq
To: xxxx
Sent: Wednesday, April 06, 2011 3:15 PM
Subject: RE: Regards - China Media Express 10K Reporting Compliance and Listing/Delisting
Dear Sir:
Thank you for your email. It’s NASDAQ’s policy not to comment on the status of the companies listed on our Exchange.
We are forwarding your concerns to the applicable staff in Listing Qualifications.
Sincerely,
Webmaster, insidenasdaq
________________________________________________________________
From:XXXXX]
Sent: Wednesday, April 06, 2011 9:09 AM
To: Inside Nasdaq
Cc: Subject: Regards - China Media Express 10K Reporting Compliance and Listing/Delisting
Subject: Dear Sirs,
In regard to China Media Express (CCME). First, I will assume that CCME has submitted a plan (as they publically stated they would) for compliance regarding its 10K fling with NASDAQ. Retail investors at this time do not know if CCME submitted one or not, as no public release has been provided by the company, which is the basis of this assumption.
The situation we retail investors find ourselves in, can be summarized by the lawsuit initiated by Starr Investments against CCME, see here -http://www.scribd.com/doc/51230653/Starr-CCME-Lawsuit
The retail shareholder only knew of the company's SEC filings, we knew of DTT (Deloitte) as the auditor being onboard for over a year, and auditing and signing off on the 2009 10K.
Most if not all retail investors were blind-sided by the short attacks. None off us are privy to the emails sent to Deloitte (as detailed in the suit) from various hedge funds and "analysts". It is as if they had inside or ill-gotten information and were directing DTT to investigate these issues.
Shorts, hedge funds, analysts, major investors aside the retail investor relies on the thin hope of transparency and access to public information via corporate and SEC filings. We continue to see the ongoing scandals of insider trading and conflicts on interest - and we can all assume this a small fraction of what really transpires. Heck, in most of these bear raids they don't even need to be right, they win and trade on fear. It's a nice racket when you have that kind of clout! Sometimes it seems that the market is clearly stacked against the retail investor without clout and without inside or ill-gotten information.
As a retail investor I am requesting that if CCME submits a reasonable plan for filing a 10K and provide appopriate justification in their appeal to NASDAQ for delisting, that you allow for them to remain listed and halted until ALL can review the subsequent 10K. Otherwise, a delisting would just be further damage to the RETAIL investors that have already been severely damaged. The retail investor needs and deserves the facts of an audit and audited 10K to be available to the general public to determine the value of our investment.
Thanks for your time and consideration in this matter.
Sincerely,
XXX.XX. XX
CCME Retail Investor.
--------------------------------------------------------------------------------
Joe,
Wouldn't you expect trading records to be subpoena as part of the Starr legal case against CCME and DTT and CHENG and LAM?? I would think they would also have a vested interest if the scearnio you laid out is true. Also just my opinion but it seems to me all the legal cases have been a bit premature as many investors dont yet know what their true losses may end up being through this fiasco and you can't be a lead plantiff based on what your expected losses will be. Once either some facts come out or the stock resumes trading, many will understand their true losses.
They really should make a movie out of this stock. Hope the IBOX adds your theory to the many out there, it an interesting one.
Eric
Nice to see others are seeing the potential future. Added a bit myself as the timing just seems about right to me
Yes they dont want to let me buy any more shares.... No way will I buy at .25 and take an instant 38% loss. I will just wait it out and look in .18 to .19 range.
Interesting to see the buying interest however.
Geeze what type of spread is that!!! .18 X .25 LOL???
RAW,
I have owned this stock for a long time and have not made any money on it... It has always seemed to have a nice niche and consistent improving performance. I felt for sure it was a good buy out target and just based on your perspective do you think now is as good time as there has been to really lock and load up on this one? Is the timing finally right or will we continue to stay .20 cents and less for another year. Is the company doing anything to get their story out to increase shareholder value?
I have alwasys believed the longer the stock has been stagnant with good performance the bigger and stronger the move will be when and if it ever happens. Will it ever happen??????????
Eric
It appears that the market does not believe this company's financials what so ever.. The earnings were great the forecast were great and the release today was encouraging. I really believe the fact that Shareholders have seen that even SEC filings in Todays market have little or very limited value based on CCME as an example that these China stocks and their company performances are not believed. It is extremely difficult for the astute investor in Todays market to find a good investment when you realize you can't even count on the SEC filings anymore and that even the audits are of little or limited value. I am not convinced what I thought was investing is even investing anymore as it seems more like gambling (red, black or green) and that is SOOO SAD.... Maybe I am just being Cynical, but honestly it appears true.
I think without institutions and without the company grabbing the bull by the horns (buying massive shares) and I mean now what else will value this stock as it is clear the printed numbers do not matter. I mean what news release will matter to investors if their forward guidance doesnt and buying on open market aren't adequete incentives?
My opininion every investor here deserves a good solid return but tell me what will change the sediment for this stock as I see it hard to understand what will begin the change? I am open for suggestions, thoughts to keep the faith?
Eric
Yes I agree it is still halted but for some reason at least at Etrade they showed a trade for 1051 shares at .0001.. I assume just to add to the already loads of FUD.
I cant imagine CCME not submitted a compliance plan on time. It would make no sense. I expect the stock to be halted another 2 months.
Just my opinion. GLTA
Yes this shareholder would have been a lot better off getting his certificates and using them as toliet paper then to sell them for .0001.... A cost savings so to speak.. Love the value of my portfolio now :(
The stock just traded 1051 shares at .0001
The problem with that, is that many shareholders including me, did rely on Deloitte for the past two years so its tooo LATE for them to now claim they didnt do their job and all their past negligence should be ignored.
Eric
P.S. Just a personal opinion all make your own conclusions, insufficient data to make it a fact.
Bogey,
After reading the 8K thats about what it sounds like to me.. How can you audit a company for that long and not raise a single red flag until right before the 10K is due in 2011... Seems like they did a dis-service to each and every single sharholder of the company. One of the main reasons I invested was reasonably long term audit of the company financials, and they not notice a thing until the last audit?
What kind of audits did they do in the past????
Eric
P.S. Just my opinions, makes your own conclusions.
Joe or anyone, Have you tried to contact Ping Lou? Do you have a number for her now? What does she say about CCME now? She field verified much of CCME operations. I would be interested in what she thinks about CCME now.
Glad to see the 10NT.. Glad they are pursuing Forensic audit and I would guess the stock halt will continue for about 2 months after the audit is complete and we get idea of what the actual value of the company is.
Eric
I find it extremely odd that there is NO SPECIFIC fraud noted in the whole report.
Item 61 in the report even acknowledges that STARR isn't even yet sure that there is fraud where they state "EVEN IF CCME SHOULD PROVE NOT TO BE A FRAUD". Surprises me to see that in the report.
It is amazing to me that as of today not a single specific fraud allegation has been proven or stated as FACT. Also from a STARR perspective you would probably want to resign on the board to help clear your name in the event fraud is found and you were on the board of directors and were not protecting the public shareholders as well. They would be no better off then DTT.
Regardless at this point as a shareholder I would say 99.9% chance something wrong is found in the financial reports or these insiders wouldn't resign and the CEO would be violently addressing the issues not being stubborn and hiding. Sure will be nice to see specific FACTS someday.
Just my opinions, make your own conclusions.
Eric
Stock Halts - T1 - A hint at potential durations?
If it hasn't been mentioned it appears there is no defined time limitation for a T1 halt and we are already in the "RARE" circumstances. Just greatful it isnt an H4, H10 or H11 halt.
http://www.davemanuel.com/2008/05/11/did-a-stock-that-you-own-get-halted-what-happens-now/
Normally a halt will last an hour or two at the most - in rare circumstances, a halt can last for days, weeks and even months.
http://www.blackberrystocks.com/stocktradinghalts.html
Eric
Sherm,
If we loyal long shareholdres truly belive the CCME management is looking out to protect the shareholder. The stock halt is a good move, if the audit was to be delayed out of their control. It also burns the shorts... I could easily see the auditor wanting to look at things in more detail with all the allegations and eyes on them and this would delay the audit.. NOTHING COMPANY can do about the delay so this would protect the shareholder. Keep the stock halted until the 10K can be filed. MAYBE JUST DREAMING but it the best dream I can come up with.
I too am trying to be as positive as I can be considering all the circumstances..
I agree and I think it has a good chance of being the real case. Why isn't that a very plausible and realistic case. The audit taking longer would obvioulsy impact stock price and also would be out the companies control.. All good reasons to halt the stock isnt it? Since I own the stock I may as will be positive on the reason I choose to believe that the company has halted the stock for the loyal investors best interest. Seems very plausible and very reasonable after all the allegations and I think it could just be that they (auditor)want to ride alot more busses and physically verify CCME clients versus taking the company word for it.
Why not call a stock halt until March 31st, until audit is done.. Reason to NASDAQ was that the company had promised loyal sharholder 10K would be filed on Time in February 1st letter. However, due to reason beyond the company control the audit will not be finished on time due to additional investigations required by Deloitte due to all the recent aligations. This would be very reasonable, possible and would protect the loyal shareholder. It is at least a possible positive outlook on it all. Just trying to be positive instead of negative and the above scenario would not be inconsistent with what Ping, WTCBILLS, or Drexion recently posted... No things found yet, but they want to research it further before finishing 10K and nothing company can do about it but try to protect sharholder.. Hope this isn't just wishful thinking.
Eric
I bet its item.1 on wtcbills list that would be my guess
Me too I am at work.. not sure I can see why you halt your stock if it good news? Buyout is about the only one that makes sense and helps explain company silence. I feel skeptical of that with all the crap going on the last month. Delayed earning and possible restatement seems most likely doesn't it? Hope not but ........... Other theory why u halt your stock for good news? Glta.
Wow, nice find. Thanks!