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It will probably drift until a partnership happens. I hope for the people who have been long for a while that the market doesn't start declining because we all know what happens to smallcap biotech when the market drifts lower.
I provided a fact in my post and many opinions. Obviously not everything I say is fact but I never said my post was nothing but facts. This is message board where one can express their opinions(can't believe that I have to say this). Instead of typing that passive aggressive sarcastic post you could have actually said what exactly you disagree with.
Yep IGXT is making all the right moves like securing a partnership, right? If they get their drug approved, which is pretty likely, how will they market it? Last time I checked they only had ten employees with very little cash on hand to hire a sales force( I know they are debt free).
Thanks for the info guys. I can see why you're all watching BPAX. Cash, volume, and partnership all make BPAX pretty solid. The FDA decision + Libigel results could be a huge opportunity or also a huge disaster; I'm just hoping its not the latter.
The whole sector is underwater and the small caps are getting obliterated so the mods disappeared. If anyone is still on here I got some questions I was wondering if you could answer. Are there any biotechs that recently turned profitable? Are there any that had recent FDA approvals and are in the midst of launching their new drugs? Any help would be appreciated.
NP1986:
I'm not sure there's a causal relationship between ZLCS' surge (11% at close) and the Remoxy news, but it's interesting nonetheless.
ASCO is not overrated. I think there is some meaningful data to be presented and is an excellent time for people in the field. What rowilliams mentioned is generally true although some ASCO stocks start the climb as early as Dec based on previous data. The thing is I don't know whether a company will be presenting at ASCO or not months ahead of time. Anyone have a system of figuring this out or any hints? Thanks in advance
Figured that was the mentality after the huge price drop. Lets uplist to the pinks- that'll bring back some respectability lol
Hell he could take the company private with the cash they supposedly had
Well ha! there's our bounce 10 cents after a dollar and a half decline
So much for the 2 million + forced buy in
It had to have one to get onto otc . . .right?
Also, haven't dumped yet will wait it out.
Possible conspiracy theory: Short and distort crowd getting the longs back by inserting CCME's name on the OTCBB list for the fictitious article sent over the brokerage newswires a couple days ago(Highly Unlikely).
Whatever the matter I'm waking up 5:30AM PST just to be sure. This should be rather interesting to say the least.
Even if its pure speculation it's always wise to be prepared.
Is this why they hired DLA Piper? Hmmm ah nevermind I don't give a c--- anymore. Good luck to all and thanks for the information manatee.
Why are they allowed to delist CCME without a proper hearing or press release or even sort of news at all. Pretty disconcerting. Anyway is it ccme.pk or something else?
Honestly, this is ridiculous that this company's value hasn't skyrocketed back to a reasonable P/E since their earnings, share buyback announcement, and their filing of lawsuits against the short and distort crowd. The perception around China is way too negative now and probably is there for a reason. I wouldn't be surprised if funds are slowly accumulating during this time.
I also wouldn't be surprised if these same funds initiated the attacks on some of these companies to drag the whole sector down in order to pick up some of these stocks at severely depressed values. Personally, I think the whole short team didn't expect SCEI management's response(and its been an amazing response). However there's still one thing that troubles me about this company and that is that the chairman of the audit committee resigned on the 16th. Any opinions on his resignation?
Personally I think that setting these dates as if it represents less likelihood of resignation is a bit of fantasy. We could be in the middle of an investigation in say July or August and DLA/PWC could ask for an item which management, by which I mean Zheng, is unwillingly to provide. Lack of cooperation leads to resignation. The sad thing is is we have a prior case where we saw a last minute resignation(DTT on March 11th, a week before 10-K was due), so its not as if this is something that would be surprising.
Its nice to make the shorts scared for once in this debacle since they seem to have known what was going to happen from the beginning.
I just wish that the comedian who released this "PR" had not mentioned it was fake now that would have been comedic justice.
I read the article you posted earlier and its pretty disgusting.Guilty until proven innocent, is that how it works in the country I was born in? That's certainly now what I was taught. The article implies that CCME is a scam(which it well might be) but there's nothing out there proving it. Also, I can't believe the article tries to portray the hit piece mob as innocent, trustworthy, and almost compassionate by saying they painstakingly investigated these "frauds". It even tries to portray them as victims with the death threat thread in the article. Come on . . .really?
Focus, I'm kinda with you here- I will not forget what happened in March. It's for that reason that my biggest fear with this company is that Zheng Cheng will stonewall Piper and PWC just like he did to Deloitte and then its all over.
A P/E of .89 means the market thinks this is a fraud. I'm not sure either way but I wish a CEO of another CGS company would have acted in the same manner as this one. Good luck and I hope you all are hedged.
That is a perfect analogy . . .if anyone offered me 8 dollars a share between now and say the end of June I would probably cry tears of relief.
Smart move by PWC. There's really nothing to risk here for them. If they find out the company is a fraud then they can just bail quickly. Also, since they've been retained as part of an investigation by a law firm instead of as the auditor by CCME they will not have the negative associations with CCME if it falls off the Earth. Instead if they're able to show CCME is clean where DTT was unable and are subsequently retained as the auditor, what do you think this might do for their business in China? Who would rising small cap Chinese companies trust more- DTT who bailed on CCME when the pressure got too high or PWC who essentially "rescued" CCME from its death sentence.
Imagine the short squeeze if this data actually meant something.Ten years to cover . . .hahaha
Personally I wish this had been delisted on the 12th. I'm not short nor do I have any puts. I just look at the situation like this.
If we delisted on the 12th we would have to deal with the extremely depressed price. Yet our money would be freed up and we can try to make some of it back in the timeframe where CCME would be halted.
Now there's only these scenarios left
1. Audit committee could find nothing major is wrong with CCME after a several month investigation and we have a short squeeze and longs have a party. Low low chance
2.The company could either lose the appeal in a few weeks and be extremely depressed in value or the audit committee could find major infractions and we get the same result. Under this option we lose time and money and possibly the rest of our hair.
Sorry to add to the useless speculation, but I'm extremely frustrated.
As if the 100MM in revenue is a figure that can be relied upon- come on now.
If you're trying to imply that Deloitte did this, then they should definitely be sued for misleading investors by saying all is well in the 2009 10-k and subsequent 10-Q's.
What's the point of doing an audit when you're just going to blindly rely on the company to tell you the truth, that's not exactly independent verification. Not exactly first tier work if you ask me, or second tier, or any tier at all.
Traderfan wrote:
Maloney Baley stated in filings lately that they accepted the stuff given by the company when it came to auditing all the cash in the account and how it got there. Just recently they changed that way and were demanding certain statements directly from the bank. When they did this certain issues came up. Does any bell ring here? I mean can you believe this? These guys admit that they didn't even check the cash statements directly with the bank before. lol
Also before I forget you asked for a sound or great investor that has invested in a scam like this---- Mike Koza. Read the webpage it might be helpful.
http://marketocracy.com/mds/investors/mkoza
Does anyone have an opinion on which chart CCME will most closely resemble when it opens for trading again? Obviously it's not going to be NEP but I have a feeling it's not going to resemble RINO either. Did RINO have a greater short interest than CCME? The Nasdaq site is certainly not being helpful and neither is the rest of the internet.
So the last number that I saw for Rino was 60% short but I think this was the number for when RINO was at $20. Any help would certainly be appreciated.
Just a side note: I would be ecstatic if we reached 85% of the halt price in CCME like RINO did even though it was only for a few brief moments..
The CEO is a proven liar. He promised to try to protect shareholder value against the myriad of attacks in his Feb 7th letter. He has remained silent, so I don't think another letter to him will do anything.
So i'm a bit out of the loop did CCME not file the compliance plan? Are we delisting to pinks? I'd rather not read through 200 messages to find this out, so a simple yes or no would be really appreciated.
Thanks for the response Martych . . .All I can say is maybe Deloitte shouldn't be a big four if they can't even properly audit a sub billion dollar company.
Can DTT do that? Accept no responsibility for the 10-Q's that they signed off in 2010? That just doesn't seem fair not sure if it's legal(not a lawyer). I placed my investment in CCME(which is/was in a high risk environment) because I knew DTT was on board and believed their auditing procedures were more robust and stringent than a run of the mill agency. That's exactly why I held my shares through that short hit piece sh__ storm. I was thinking if this was a fraud no way DTT could have found nothing in the previous quarters and there's no way they would have signed off on a previous annual report. They have to accept some responsibility for their actions or is that not how it works?
In regards to the Wuyi rumors, I found this post from the other day.
rru2s wrote:
Thought occurred to me - how many shares does management own of Wuyi? If > 50 percent of the total shares of Wuyi are owned by management, and IF CCME funds were diverted into Wuyi illegally, then the divi is a quick and painless way for management to take their money and run.
Or he could just be that brazen. He must know there is no way he is going to find himself in jail, so he'll just keep going as if nothing happened. Its almost as brazen as deceiving shareholders in his Feb 7th letter indicating that the company cared about protecting shareholder value. Anyway, I just wanted to mention other stocks worth taking a look at in the meantime(I guess these are some more case studies)
EBIX- SA blogger attacked a US company . . . . and it worked!
TSTC- Chinese company attacked months ago- Releases 4th quarter financials and good for them.
FUQI- Ouch further delay
And if someone could explain what happened with FUQI please do, I could not understand it. Thanks in advance.
Lesson Learned: Never trust anybody.
Well I'm done. I'd rather them just delist now so I can get my 10 or 20 percent back, rip it viciously from my trading account and put it back into the bank and go back t reality. Good luck to all those who also got screwed. oh and one more thing . . .the investigation is going to go nowhere just like the numerous lawsuits
Can't really defend the stock at this point. Just shocked that the shorts were right. Oh well lesson learned.
Trying to infer something from wctbills post is pretty ridiculous.
Those with pessimistic thinking will automatically think fraud
Those with optimistic thinking will automatically think that the company was acquired for $30+
Nicely put Joe. Your defense of the company is definitely refreshing