Married
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Michael, I dont mean to speak for avant but he was probably implying that CCME would pay overtime to the maximum extent practical for Deloitte to do audit 24 hours 7 days a week to try to help ensure it would be filed on time. The last letter written by the CEO did imply they would file on time. My expecation as a long term investor is that they will and should file on time as previously stated to investors. Obviously you are right some of it may be out of their control and after leaving investors starving for any information for whole month, if they do delay they better update us....
Shoot other investors (JOENATURAL) have already found out who their PR firm is yet not a single word from the company. Taking nothing away from JOE and his incredbile determination, its not the way loyal shareholders should find out things like who is their new PR firm. CCME OWES LOYAL SHAREHOLDER AN UPDATE PERIOD! I TOO HOPE THEY FILE ON TIME and if not they need to at least give us the 4Q results and an update for when they will release the 10K and a status/progress on their PR Firm.
Just my opinion. Holding all my shares and CALL options.
No, I couldn't find it either?
http://ghsecurities.com/pages/research_coverage.aspx
Anyone know whats up?
Eric
Owned the stock for over a year.. One of these days it will get some respect!! Seems like a good buy out candidate doesn't it?
MILLSTONE, THANKS YOUR TOP TEN LISTS NEEDS TO BE AT TOP 15, AND WOULD BE PRETTY EASY TO COME UP WITH TOP 20 REASONS:
11. SMALL CHINEESE COMPANY THAT OFFERS THE SHAREHOLDERS A DIVIDEND
12. BOARD OF DIRECTORS HAVE AN APPROVED A BUYBACK PLAN
13. COMPANY IS IN ONE OF THE WORLDS LARGEST EMERGING MARKETS
14. COMPANY CURRENTLY HAS LITTLE COMPETITION
15. COMPANY HAS A CURRENT RATIO OVER 6 AND A PE UNDER 5.
ON THIS BOARD WE COULD PROBABLY COME UP 100 GOOD REASONS.
I guess I would ask him:
What better information or due deligence does a retail investor have then an audited 10K from deloitte knowing that the company is under fraud aligations.
I would like to know what is better out there for the retail investor.
Eric
I am greatful that they dont just "PUMP" the stock. I wouldnt own the company if they just did that. I am much more into their business results and what the numbers show and these guys (CHENG/JACKY) impressed the heck out of me in their balance sheet and company performance results.. They are in an emerging market and I can easily understand why their numbers are as good as they are in that case. It like America 50 years ago and they are out in front of many entrepreneurs in China. I have as large of an investment I can possibly own in this company cause I have put my faith and belief into them long term. That is what a loyal long term shareholder is.
I will remain patient as we all must and I am counting on CCME butchering the shorts and unlawful. Right, wrong or indifferent, this has been my choice to each his own..
GLTA shareholders!
That is every single loyal shareholders "MINIMUM EXPECTATION". Blow them to Oblivion. Regardless it felt good to get a little frustration out in the public. Now back to LONG TERM investing.
I agree 100% with Michael Anderson, The Company is responsible to protect the loyal shareholder. Complete silence for 1 month during this "Charade by MW" is hardly protecting the loyal shareholder IMHO.
I am not saying that I dont think the CCME lawyers would absolutely limit and review anything they had to say but lets not forget they are still running a company. I have a hard time believing not one significant event has occurred in the past month that is relevant to the public shareholder ignoring this darn charade by MW.
Not one new contract, not one single new business development, not a single word about the buyback or anticipated completion of the audit or update on their outside advise they were going to seek in the president letter to protect the shareholders. Not one single legal action taken, NOTHING?
I am long term shareholder, I have already lost thousands of dollars due to the MW Charade, and I realize in the end maybe the stock recovers nicely and at some much higher stock price I might finaly get some of my money back for my loyalty.
I just feel the communiciation to the public shareholder and what the company has done to protect us NEEDS to come out.
Eric
One is INSPUR on MW video and the other on the CCME commercial is a Digital Media from what I can see.
Surprises me that we are almost going on a Month with out hearing a word from CCME.
Eric
WCTBILLS,
I also can not find your letter on your website to CCME Management. There is no doubt in my mind that it past time for CCME management to do and/or say something publically.
Eric
Just checked up on case with Shapiro:
"Our investigation of Citron and Muddy Waters with respect to CCME is still ongoing, and we have no further updates at this time."
In case their are others of you out there that care. Know what you own and make your own choices!
Eric
Michael,
The stock is fair valued at least $40.. They show they are legit, issue the 10K, do a significant and real increased buy back, change the dividend to quarterly dividends and increase the dividend amount. I think the stock could fly not to mention squeeze the you know what out of the shorts.
I agree 100% no way it will happen if the company doesnt do something serious but darn they have a ton of cash they can obliterate the shorts if they want.. They JUST NEED TO DO IT!! My personal feeling is that after taking the abuse that CCME has over the past month, I dont see a devout buddist and serious company manager sitting back and doing nothing about it.
Just my opinions.. ROAST THE SHORTS!!
Eric
Well in fact I did today! Couldnt resist it at these prices and liked the short interest going down.. I like the company to much not to have some position.. GLTA NEWN longs.
Harley,
Wow I am surprised to already see NEWN down to this price... I noticed the short interest actually went down in the 1/31/11 report, which I thought was extremely positve. Any speculation on what it has done (short position) since. I am surprised to see at these prices already.
http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=NEWN&symbol=CCME&selected=NEWN
Stock is worth $14 IMHO, I wont be able to resist if it goes much lower and will have to jump back on board, especially now that I see short interest has decreased by almost half.
Eric
Michael,
What I enjoy the most about the SHITRON piece is that they publically recognize the true value of CCME which is slightly better than BIDU.. Too bad Joe Natural who always tries to convince CRAMER of that doesn't catch on as fast as SHITRON finally did. Maybe are $100 stock price is in our near futures.
GO SHITRON!!
Eric
OMG that was hilarious... WCTbills is absolutley hilarious... His phone call went just like Carson Black would if he called except Deloitte would hang up faster on Carson I think.. Good luck MW LOL!!!
Nice bit of humor for sure... Wish MW would accept his challenge but that wont happen.
Did you forget about margin calls? Those weren't by choice and that helped shorts cover their gobs of naked shares
Nice report and great information and best of all it an independent reliable source verifying CCME as LEGIT..Nothing in it for them to say all those things. Just one more FACT to show the lies and deceit of the shorts about this company..
Eric
Drex,
I think many long loyal shareholder continue to hold the stock. The information put out by the shorts just doesnt hold any water. I am putting my trust into the CEO, CFO, Deloitte and my efforts to read and understand the companies SEC filed reports. At this point I am willing to wait and see what the company does and for the 10K. I think once the 10K is done, maybe this CEO will suprise even us.. I wish I knew, but my gut just tells me he is not the type of guy that likes to be publically ridiculed as a liar etc.... and I get the feeling the shorts are going to get it.
Just the way I feel at this point (even with my enormous financial losses). I am sticking with them.
Sucks that the shorts have an indefinite supply of stock...
Eric
Amychan,
You are right even he has gone to a "HEDGED" position..If nothing signficant Monday with all the CCME silence this week, I think single digits may be on our the way. It makes me feel like my house is burning and I am standing outside watching and not allowed to pour any water on it to put the fire out (cause as they say its the quiet period). Could be a painful journey to the "Truth", the loyal shareholder beter have stainless steel lined stomach, if you dont already.
By the way I personally am sick (and I must admit poor due to margin calls, and stop losses) of seeing all the buying opportunities... Tighten your seatbelts, should be interesting to see how it all plays out. I hope DD, Honesty, and shareholder faith prevail.
Oh well its only money (OMG did I say that), if my wife knew should we make me stop stoking the fire place.
Eric
Burp,
I know some here dont think CCME should have additional PR's addressing whats going on but I sure think they should especially based on what their letter said. There are surely a few things they could be releasing/explaning to shareholders such as:
Are they truly in quiet period? If so what limitations does that include? Does that mean they can't update investors on previously released news such as the dividends promised and/or the stock buy back or updates or changes on these? What limits does that put on them only with respect to the 10K filing, then ok dont say anything about that. Why can't they release an update on the dividend or the buyback since they were both previously announce prior to any such quiet period?
Why can't they update the loyal shareholder (like me) on an update on getting a real PR/IR firm (firing the pathetic one they have) that actually does something? If it wasn't for WTCBills work and public efforts for the sharholders who knows what the stock price could be. He did alot of damage control and I thank WTCBills.
Why can't they update us on any new contracts, progress or legal actions they are taking? Why don't they contact the SEC, open a case file, and provide all the necessary evidence to the SEC to refute the lies put out and requst the SEC to put those behind bars that have lied or mis-lead innocent people for their own interest?
I think CCME needs to address and update their loyal shareholders on anything they legally can.
Eric
I have not seen any public release for Shapiro investigating a case against MW and Citron. I wonder why not? Also I would hope CCME takes legal action against MW and Citron as well. Is there any reason they wouldn't?
Eric
Pedro,
Personally I am sick and tired of the constant day in and day out junk rumors. "One dumb person can ask a single question that takes many smart guys a significant amount of time and energy to answer"
Burps sarcastic comedy isn't far from what these guys are doing, even if it did make me laugh a bit.
I just hope CCME management does something significant and SOON and fry's these shorts to oblivion once and for all where they belong.
Eric
Why was it bad, please be specific? I thought it was very good. My only complaint is that the specific actions they will do to protect shareholders were not point blank provided but should be and done asap..
Burp,
Wow WTCBILLS should be on CCME payroll as he has done more to dispute MW and Citron then anyone, some very nice work. At this point, I just hope CCME doesnt let the shareholders down and actually does something (not just more words) very significant before Monday morning.
Thanks for letting us know of the update.
Eric
Why dont you call him and ask? How else do you expect to get your answer? Call him and find out.
Eric
For those that dont like to read everything in the 10 K's. Here are a few items from CCME SEC filings back in December 2009 I thought were interesting for those that dont already know these things and with some of the recent things from MW. I went back to the 2009 10K, until 2010 is available. I think it helps demonstrate the market size and demand, competative advantage, and at least where CCME was back in December 2009. Read just as a reminder if nothing else.
Eric
Page 9 of December 31, 2009 10K:
"Inter-city travel increases length of exposure . Inter-city travel in China typically takes a number of hours. Audiences are therefore exposed to the content displayed on CME’s network for a significantly longer period of time than on shorter-distance travel. According to a survey conducted by CTR Market Research in July 2008 on bus services originating in eight major cities, the average duration of a journey on buses within CME’s network took two and a half hours. As CME displays advertisements in ten-minute blocks after every 30 minutes of entertainment content, the audiences can potentially view the same advertisement up to three times per journey. CME believes repeated exposure to the same advertisement significantly increases its effectiveness."
Page 8 of December 31, 2009 10 K
Competitive Strengths
The largest television advertising network on inter-city express buses with an early entrant advantage in China. "CME believes it operates the largest television advertising network on inter-city express buses in China. According to CTR Market Research, as of July 31, 2008, CME’s advertising network accounted for 81% of all inter-city express buses installed with hard disk drive players and 55% of all inter-city express buses installed with any type of television display. In the first seven months of 2008, a monthly average of over 53 million passengers traveled on inter-city express buses within CME’s network, representing 85% and 57%, respectively, of the passenger traffic on inter-city express buses installed with hard disk drive players and with any type of television display, respectively. CME believes its large-scale network capable of reaching a sizeable audience traveling within economically prosperous regions in China presents an attractive proposition to advertisers"
Page 4 of December 31, 2009 10K
CME has entered into long-term framework agreements with 45 bus operator partners for terms ranging from five to eight years. Pursuant to these agreements, CME pays the bus operators concession fees for the right to install its displays and automated control systems inside their buses and display entertainment content and advertisements. CME’s entertainment content is provided by third parties and advertisements provided by its clients. CME obtains a wide range of free entertainment content from Fujian SouthEastern Television Channel and Hunan Satellite Television each month and purchases a limited amount of copyrighted programs from the Audio and Video Publishing House of Fujian Province. As of December 31, 2009, the number of inter-city express buses within CME’s network is 20,161.
On page 7 of December 31, 2009
Express bus travel is a primary means of transportation in China due to various reasons, including the more comprehensive coverage of highway networks compared to other modes of transportation and relatively low private vehicle ownership in China. Many cities in China are highly dependent on highway transportation and many small and medium-sized cities in China rely on highways as the primary means of transportation outside cities and towns. Inter-city buses on highways also offer the advantages of lower cost, higher frequency and point-to-point convenience relative to rail and air travel, an additional factor which explains the prevalence and continued growth of this mode of inter-city transportation. According to the Ministry of Transport, as of July 31, 2008, there were over 43,000 inter-city express buses with a seating capacity of more than 27 passengers in China. The average monthly passenger traffic on inter-city express buses totaled over 158 million in the seven months ended July 31, 2008. In addition to its large size and continued growth, the express bus market is highly fragmented, with a large number of small-scale operators operating services primarily within certain provinces or regions. At present, there are few large operators with nationwide networks
On Page 4 of 2009 10 K
CME has grown significantly since it commenced its advertising services business in November 2003. During the year ended December 31, 2009, more than 450 advertisers had purchased advertising time on CME’s network either through advertising agents or directly from CME. Some of these clients have purchased advertising time from CME for more than three years, including Hitachi, China Telecom, Toyota, Siemens and China Pacific Life Insurance. CME has attracted several well-known international and national brands to its advertising network, including Coca Cola, Pepsi, Wahaha, KFC, Siemens, Hitachi, Haier, China Telecom, China Mobile, Nokia, China Post, Procter & Gamble, Bank of China, China Constructing Bank and China Pacific Life Insurance. While CME is unable to determine the exact dollar amount paid by these individual advertisers who purchase advertising through third party agencies, CME is able to determine, based on the number of ads run for these advertisers, that these advertisers comprise a significant portion the advertising on CME’s network. For the years ended December 31, 2007, 2008 and 2009, CME generated total net revenue of $25.8 million, $63.0 million and $95.9 million, respectively. During the same periods, CME had net income of $7.0 million, $26.4 million and $41.7 million, respectively
Thanks... That is what I was trying to say.. They dont go after MW becasuse they may have none or very limited assets to obtain (thats what I meant by can't squeeze much juice from a lemon).
I am anxious to see what CCME next press release contains.
Eric
Yes it is very sad.. I am joining a class action suit on monday against MW..I personally believe NEWN is worth at least $14 a share but with short interest doubling every 15 days in this stock as shown here:
http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=NEWN&symbol=CCME&selected=NEWN
It has made me a bit cautious. Every shareholder here deserves a double bagger but for me I will continue to watch the short interest before I load back up in this one..
I hope I dont miss the boat but it is a risk for each and every shareholder to decide for themselves.
Good Luck and make a mint!!!
Eric
Yes it was extremely impressive..Every investor should read it.
Seeking Justice 2:
You make an awesome point. I dont understand why we have seen 3 or more investigations from law firms against CCME who has audited financials, facts proven by DD on the ground in china by investors, and all kinds of evidence refuting much of the BS in the Muddy Water Citron report.
The fact that many of the statements made by MW and Citron have already been proven as BS should be letting any intelligent law firm see where they can surely seek a succesful law suit.
Maybe muddy water and citron will be like squeezing a lemon and therefore result in nothing (at least jail time I am hoping) instead of CCME who is a cash cow??? Obviously I cant be 100% sure of CCME financial reports as I dont prepare them. As an investor I can only rely on the Auditor and to read them and evaluate their 10K and 10Q the best I can myself.
Can you explain the lawyers logic here? I am surprise we dont see at least 6 class actions suit with Lawyers waiting in line to represent the shareholders for the obvious false statements already made by MW and Citron and proven by the shareholders. We haven't even seen CCME response/rebuttal yet..I am hoping it drives a NAIL into their coffin.
Eric
DONE info Sent!
Hmmm I will be contacting them for sure ...thanuks for posting
I still am strong supporter of CCME.. I had margin account so it wasn't that I was bullied, it was not by my choice... I just have seen what has happened to a NASDAQ listed stock with a good auditor , good management, and 180M in cash and what has happened to it.. I can just imagine what it would do to NEWN.. I will look to buy after MW and Cirton or some other crook has finished here. THEN I AM BUYING!!!!!!!!
LOL... I am by no means a conservative investor but these things going on with CHINA stocks in America is BS... I was just passing on why maybe the stock has been going down lately..
NEWN To the MOON I hope for all. I will wait and watch..
Eric
I know I have been a strong supporter of NEWN for the past year.. I will be honest I have sold everyshare I had the last few days. WHY??? Not because I dont think this company looks outstanding or truly undervalued.. I have seen what two crooked companies like Muddy Waters and Citron did to CCME over night, which resulted in the stock being crushed.. NEWN has not yet been attacked by such companies and BS. At this point I just cant afford to hold another chinese stock that can just be robbed and manipulated by these crooks.. You will noticed a huge increase in the short position every 15 days in this stock.. What does that tell you??? If nothing else it is a red flag to pay attention too..It is sad but for me I just can take another beating like CCME from robbers, theives and crooks.. Doesn't matter if what they say is complete BS because the stock gets killed and hurts honest people and effects their real life.
GLTA investors... I would recommend keeping an eye on the short interest in this stock... Be cautious and pay attention and I honestly ope the stock does great for everyone...Just to risky for me....
Eric
If they are in a quiet period because of earnings, does that apply to announcing a dividend that is payable either immediate or retroactive as well? IMHO they have to show loyal shareholders that our committment has not been all in vain.
Eric
Yes Buyback is a no Brainer.. They need to buy back shares constantly and announce daily how many shares are purchased... Very surprised no press release!! ITS SHOW ME TIME, its time for action not silence.
If just, CCME should also seek legal action against MW.
Headley,
I agree 100%.. Items 1-4 are SPOT on in my opinion. I think they should also release a public statement from Deloitte about their cash on hand and attach it to the PR.
They need to do something and it can't just be a bunch of words. They should make the dividend payable retroactive to January 27th for all the longs that got crushed on the margin calls and to get those naked shorts.
Eric