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Jonatural: This was your favorite stock. Great pick.
AMBO: Court orders China's Ambow into provisional liquidation
http://www.reuters.com/article/2013/06/11/ambo-liquidation-idUSL3N0EN1ID20130611?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43
Do you mean on "death watch"?
I said that the resignation of auditor won't be far away after CFO resignation. It is so obvious to anybody other than Joenatual.
Chime in
AMBO: AMBO is just an empty SEHLL. The stock will go to ZERO.
Ambow wrongly said it had acquired Changsha Study School in 2008, while it actually paid “to borrow this school’s name and revenue for the IPO,” the plaintiffs allege.
“The cash for the purchase was secretly returned back to Ambow in the form of fake software sales,” according to the complaint, which cites statements from a member of the Changsha owner’s family and “reputable Chinese media” articles.
http://www.bloomberg.com/news/2013-02-27/ambow-education-investors-pursue-lawsuit-as-shares-plunge.html?cmpid=yhoo
AMBO reached my target of $2.00/share much faster than 12 month. The chart is in the same pattern of CCME. Will ZERO be the next stop for this stock?? People who bet on its doubling from $5 has lost money.
June, 2012:
With AMBO lost another 50% from about 6 month ago. Is it a good time to revisit the issue or still too early??
I predicted AMBO will have another 50% drop and Joenatural predicted a 100% profit.
You sound extremely confident again and credible ("Yes, I sound extremely confident...." from your article linked below.). I guess that people who listened to your advise of this article did not smoke the market average. AMBO is at $2.8 and about $5.00 when you made a 100% profit prediction.
http://seekingalpha.com/article/622471-ambow-education-50-plunge-100-opportunity
AMBO: Is this supposed to be good news? a 28% drop === 56% profit potential. And it will be fast and furious!
New Oriental Leads Tumble On SEC Investigation, stock tumble 33%
http://www.bloomberg.com/news/2012-07-17/new-oriental-leads-tumble-on-sec-investigation-china-overnight.html?cmpid=yhoo
AMBO: a Chinese blog article on AMBO's IPO process. It is published on "Fraud exposed" category. [upper right corner] very educational. You can use Google translator to read in English. The translation is very messy.
http://blog.sina.com.cn/s/blog_5ff4fb7b0100rkfl.html
The translation of first couple of paragraphs.
The rapid ripening of AMBO.
Use acquisitions to grow rapidly, and then packaged them to IPO, how far can such an educational training company go?
AMBO’s strategy is to buy the messy training institutions and packaging them together to IPO. It is absolutely not a company of organic growth. There is no long term investment value.
AMBO: $10 million can repurchase about 5 million shares at current price. AMBO may not have bought any shares or at least not bought aggressively, because the stock price has not shown any support from big buyers. The days of popping up stock price by just announcing a stock repurchase program has long gone. Investors are not that innocent anymore. Next quarterly report will be very critical, if AMBO would not have bought any shares for the entire quarter, I do not think that the investors will be as forgiving as to CCME. The stock price will quickly tank to <$1 level, so another 50% drop from here. "50% drop = 100% profit" is the most ridicules thing I have ever heard from anybody.
CCME:China MediaExpress Announces Share Repurchase Program
Anybody knows how many shares were bought under this repurchase program??
Business Wire
FUJIAN, China -- September 16, 2010
China MediaExpress Holdings, Inc. (NASDAQ GS: CCME) (“CME” or “Company”),
China’s largest television advertising operator on inter-city and airport
express buses, today announced that its Board of Directors has approved a
share repurchase program for up to $30 million of its common stock. The share
repurchase authorization is effective immediately and remains in effect for
one year.
Under the terms of the stock repurchase plan, the Company may repurchase
shares from time to time through a combination of open market repurchases,
privately negotiated transactions and accelerated share repurchase
transactions in compliance with applicable securities laws and regulations
including the SEC's Rules 10b5-1 and 10b-18. The timing and number of shares
repurchased will depend on a variety of factors, including the $30 million
maximum, the stock price, and availability and market conditions. The Company
may suspend or discontinue the stock repurchase program at any time. The
repurchase program will be funded using the Company’s available cash. As of
August 31, 2010, there were approximately 34.3 million shares of CME common
stock outstanding.
Mr. Zheng Cheng, CME’s Chairman and Chief Executive Officer, noted, “CME has a
strong balance sheet. Our Board of Directors believes that the current share
price of our common stock does not reflect the Company’s fair value. The share
repurchase program represents a good use of a portion of our cash position, is
an attractive investment opportunity for CME and its shareholders and is
consistent with our commitment to enhance stockholder value.”
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 and airport 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 over 23,400 express buses originating in
seventeen of China’s most prosperous regions, including the four
municipalities of Beijing, Shanghai, Tianjin and Chongqing and thirteen
economically prosperous regions, namely Guangdong, Jiangsu, Jiangxi, Fujian,
Sichuan, Hebei, Anhui, Hubei, Shandong, Shanxi, Inner Mongolia, Zhejiang and
Hunan.
CME is included in the Russell Global Index. For more information visit:
www.ccme.tv.
Contact:
China MediaExpress
Jacky Lam
Chief Financial Officer
jackylam@mediaexpress.com.hk
or
INVESTOR RELATIONS:
The Equity Group Inc.
Lena Cati (212) 836-9611
lcati@equityny.com
Linda Latman (212) 836-9609
llatman@equityny.com
Agree with you absolutely. Each investor or trader has his own style or comfort zone. I only speak for myself. Nothing wrong with trading these China stocks if you are good at.
LLEN: I do not follow it. This seems an old news. No knowledge about its validity.
True Owner And Legal Representative Of The Ping Yi Mine Speaks Out To Expose L&L Energy
http://seekingalpha.com/instablog/360252-the-geoteam/320071-true-owner-and-legal-representative-of-the-ping-yi-mine-speaks-out-to-expose-l-l-energy-fraud
What you said about LLEN may be true and good luck for your investment. But I won't invest in it personally. With thousands of world class companies traded at attractive valuations, why should I buy a fraud , a potential fraud or a company with complex,difficult-to-understand structures?
As I said before, these stocks are all worthless. US investors have ZERO control. You do not buy a TV that is watched by your neighbor. The controlling parties can do whatever to the assets of the companies and report whatever they want to reports to the US shareholders. US investors end up holding stocks that 1) you can not share economic benefits,and 2) you read the financials that you can not trust. It defy the meaning of share ownership.
AMBO: Investors probably mis-interpreted it as a "STRONG SELL". It has dropped more than 40% since Q1 release and the there is no end for the continued weakness for AMBO. The selling is really "FAST and FURIOUS". JoeNatural gets it right again. And he will claim that he change from long to short in some future time and he can always make money. LOL. I won't touch this even at $0.02/share. The risk is unlimited because there is financial un-regularity here.
I admire your ability to always make money, no matter what happens to the stock. It is also a very smart move of you to buy only a small position, but took the big efforts to write and publish an article on SA.
Joenatural: Best wishes for you if you are in good faith and hope that this time you get it right. However, if you pump a stock when you actually do the dumping or vise versa, I have nothing to say.
AMBO: Buy the stock now.
Buy it now after a big drop, if you can take risk to lose another 50% in 12 month. The stock will be $2.00 in 12 month. Again, a 20% drop does not equal to a 40% profit the same as a 50% drop does not equal to 100% profit.
I do not even look at the reported numbers of AMBO because 1) it is un-audited, and 2) there is no internal central what so ever. The company can basically put on any numbers. A pig is a pig, no matter what lipstick it put on.
Their revenue number is a joke. LOL. Let me tell you how it can report any revenue numbers.
Let's see the tuition for one student is $1000 for 3 month tutoring.
A 1000 students generates a $1 million revenue.
Now the tuition of each student is increased to $2000 and for 3 month tutoring, but the each student is offered $1000 early bird rebate (what ever you can call it). Now 1000 student can generate $2 million revenue. $1 million is accounted as advertising revenue.
Similarly, AMBO can reports $10 million out of the same 1000 students.
Did the resignation of CFO tell you anything? I guess that the auditor resignation will be next.
AMBO has the possibility to become a non-tradable stock.
Concerns of fraud and accounting is enormous for AMBO, giving the strong warning by the audit firm.
It is the strong word “in all material aspects” that frighten people to keep away from it or quickly sell it; audit firm rarely use this type of strong words. That's no different of telling people that it is a fraud.
AMBO: there is a 25K shares dumped late afternoon. That's "fast and furious" just after Wells Fargo upgraded it to "outperform" in the morning!!! Is that Wells Fargo dumping?? Somebody has to know something! I won't touch this one even at $0.02/share.
"Once Ambow's 20-F is filed, I look for a very fast ascent to the $6.00 area, as I believe institutional reduction will immediately cease and accumulation of shares will be fast and furious." -Joenatural SA article.
Talking about backing up by facts. I can back up my bearish opinion on CCME by all of my posts in the past years. Now the F-20 is filed, the price of AMBO is heading lower steadily. Yes, one thing you got it right. "Fast and furious"--the filling of lawsuits is fast and furious!!! The reduction of shares by institution shareholders is also fast and furious. LOL
"Internal control is not effective" is another way to say that " we are a fraud."
In the China stocks, one needs to be very careful to read the auditor's report. If you see the sentence “internal control is not effective", stay away, far away. The risk is unlimited, no matter how good the number looks and how beautiful the story was told.
Reasons behind "Internal control is not effective" in financial report??
If an auditor see suspicious or fraud activity in the financials, what will an auditor do?? One option is to resign. But you will lose a business by doing so. If you want to keep the business, the only way is to add "internal control is not effective". By adding this sentence, you put the responsibility to the CEO and CFO if the fraud would be discovered in a later time.
Take a look at the wording of AMBO's report:
AMBO: the CEO basically said in the F-20 form that the reported numbers may not be true numbers. You have to be out of your mind if you still believe these numbers and do an analysis based on it, like Joenatural did.
AMBO:Company’s internal controls over financial reporting were not effective.
The numbers can not be trusted!!!
a ambo.pk will come to a broker near you. be ready.
From F-20, page 97 item 15:
Quote:
Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure
controls and procedures or internal control over financial reporting will prevent or detect all errors and all fraud.
AMBO:Company’s internal controls over financial reporting were not effective.
The numbers can not be trusted!!!
a ambo.pk will come to a broker near you. be ready.
From F-20, page 97 item 15:
Jonatural; If all the dirty words coming out of your mouth can help people to believe you more, I congratulate you. I believe people have their own judgement.
As to your analysis: my comment is that all wall street anus-lyst can do that superficial analysis based on what the company reported, which will be restated. LOL
AMBO: I will give it a try. If you have facts, anything can be analyzed based on it. I am a scientist.Haha
Jonatural; please be calm. So you can be logical and analytical. YOu can make mistakes in stocks if too much emotions involved. Good luck to your investing and trading!!
--Gene
Joenatural: We can revisit CCME.pk now. Don't we???
$4.30 is a very high price relative to ZERO.
Is $0.11 a low price? Absolutely not!! Anything is relative. It is a very high price relative to $0.05/share or ZERO/share. SELL what you own and buy a bottle of alcohol, have a good night sleep and start a new day!!
My post for target price of CCME.
http://investorshub.advfn.com/boards/post_reply.aspx?message_id=67938768
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63426062
follow up on hitting first target price
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65973185
The fraud is so obvious!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54416774
CCME numbers defy simple logic and business 101!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53396134
AMBO: I am doing a similar modeling analysis to this stock as I did to CCME. I will post my result in a few days. The lesson I learned in this space is that to trust no one; either Deloitte, star or Goldman Sachs. You have to so your own analysis.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53396134
AMBO: CV star invested $30 million in CCME and pumpers of the stock taunted it. Everybody knows now how that story ended up.The water is very deep in these stocks. Even it is not fraud. The CEO can sell the profitable division and pocket the money. US investor end up holding the empty shell. This stock worth ZERO!!
AMBO: OH my! another Cayman island---hong kong scheme?? Highly likely, more coach roaches will be found under.........!! I won't touch it at $0.02/share.
Yea, I am dummy AND broke (by investing in CCME, of course.). LOL
Hope that I have shorted this fraud. Unfortunately, I did not. It is against my policy to not short any stocks.
Fraud or no fraud, they are not invest-able.
It is well said!!
Quote from a yahoo posting: "The real problem isn't the pervasive fraud in Chinese stocks, its the lack of recourse by U.S. investors when fraud is discovered.
The Chinese government refuses to act - they refuse to investigate and/or prosecute known frauds.
Fraud or no fraud - given the lack of legal recourse in China, U.S. listed stocks of Chinese companies are effectively worthless.
You don't own something you have zero control over.
Take a look at the host of Chinese companies that have been proven fraudulent - have any of the CEO's been arrested by the Chinese government? Have any of the CEO's been fired by the shareholders? Has there been any recovery of defrauded funds?
It is a shame Chinese stocks were ever allowed to be listed in the U.S. Many, many government officials (Chinese AND American) and private parties (auditors, investment banks, underwriters, stock exchanges, SEC, PCAOB) are flat out guilty of negligence (and, in some cases, fraud)."
I buy neither Chinese reverse merger nor IPOs. But, if I have to make a choice, I will buy FB over Chinese reverse mergers. FB at $26 may nor be a bad price. The reverse mergers are worthless!!