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Thanks for the heads up here. Got in early AM and have nice gains already...
Looks good.
I do not mind if they are deleted, but I am not asking them to be deleted.
The article posted, although fake, provides a view, which has not been proven false.
I'm not one to decide the value of an idea, so I will not ask for it to be deleted nor left up. It is what it is.
You can delete my posts, but as many of you should understand, I was a bit in shock at what I was reading...and didn't make it through all the fine print.
My post was in haste, yes, but was not intended to be malicious.
After reading it several times, then glancing down to the bottom fine print, it was clear that it was fake, hence my follow up post.
Do as you wish.
was posted on YMB
It's Clearly Fake...
"This document is entirely of an engineered nature and should be viewed for its satirical value and should not be relied upon for any investment decision, whether actual or theoretical. Its main objective was to examine alternative realities in regards to CME in an otherwise desolate intelligence environment."
Feeling Optimistic...
Once I read the Starr lawsuit when released, I was very optimistic about CCME's outcome. If Starr had no information, and was citing the FUD, then there is nothing drastically wrong.
This has been your optimistic public service announcement...
Enjoy!
there were no May options...
Wow...
"The Audit Committee of the Board of Directors is proceeding with the investigation of the concerns raised by DTT, and is pleased to have DLA Piper on board, who in turn has retained a Big Four audit firm, PricewaterhouseCoopers, to assist in this investigation," stated Mr. George Zhou, Independent Director and member of Audit Committee."
http://finance.yahoo.com/news/Independent-Committee-of-CME-prnews-1175584055.html?x=0&.v=1
It's my belief that because of the issue with the 10K, etc, that those things trump the auditor leaving.
I think that the appeal is still in process, and that in order for that plan to be acceptable, it must include a person to fill Marcos' shoes.
So to firm that up, the cure period was denied, to ensure that everyone knows that the appeal will need to be complete, including the issue of Marco's departure.
That was the essence of my previous post.
The nasdaq notifications clearly states that it is denying the cure period. It makes no mention of delisting.
I think people are jumping the gun.
I'm not saying that it is not going to be delisted, BUT, this particular notice does NOT 100% mean delisting is the only outcome...
But then again...I've been wrong! I'm stuck here :) hah
"deny the Company a cure period
to regain compliance with the audit committee composition requirement. "
This specifically points a denial the cure period (grace period for correction), nothing else.
Question is, does this mean that delisting is imminent, or does it simply mean, that pursuit to the rule 5101, that an appeal still could be, and supposedly already has, been issued.
???
Any truth to this YMB Post:
"After talking with our accounting/auditing firm, which has been participating in some of these hearings, it seems:
Before the hearing, following their request for a hearing, CCME was instructed as to what material and information they needed to provide during the hearing.
For failures to file required documents (10K in this case), the hearing panel will stay the delisting if the plan to regain compliance is acceptable and can produce the required filings.
He said the panel does not care if the company restates their financials and the revenues go down 50%. They only care that an audited 10K is filed and if any 10Qs need to be restated, they expect such filings to be made.
They do not care about the financial state of the company as long as it has been audited, signed anf filed with the SEC.
So the fact that the delisting has been stayed for now, and the near assurance the company will eventually file the required 10K/10Q is no guarantee that the filings will not contain negative restatements of revenues and/or expenses, wether 10Qs or 10Ks.
The current situation is only relevant to the filings.
Let's not read more into this that what it is.
IMO"
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=te&bn=101061&tid=110288&mid=110288&tof=1&frt=1#110288
Trading suspension
A trading suspension occurs when the United States Securities and Exchange Commission (SEC) stops trading for a specific security because of "serious questions ... about a company’s assets, operations, or other financial information." Note that in this case, it is the SEC — not the exchange — stopping the security from being traded. [4] On its web site, the SEC maintains a list of trading suspensions going back to 1995.
Sooooo.....it appears that the Halt turned into a Suspension?
Either way, the stock is NOT delisted....
Yep; I've OCR'd the document and used Google Translate on the sections that the OCR actually picked up.
Pretty much exactly what you wrote. I was actually surprised how well the OCR + Google Translate worked. It was very choppy, but comparing it against your 'real' translation, not too bad.
Downloading a Chinese OCR Capable PDF reader.
We shall see what she says!
Well, there is something new.
They DID appeal, not just plan on it. This is confirmation of the event.
"The Company has appealed this determination and requested a hearing before a NASDAQ hearing panel."
CCME 0.0001 -11.8798 (-100.00%) 3,690.00
Looks like you can get a mighty good deal on the company's entire LCD screen postion for $3.6k!
Imagine the wall of LCDs you could have!
But how will Zack's recommend us now!?!?
Hahhaha, hope you get that joke (automated formulas, etc)....
;)
Ummmm....traded?
10:31:15 $ .0001 1,051
It looks like the entire first section was ammended.
While reading it, I got the impression that CCME was PISSED at DTT...
This plays along nicely with Tothe's vision of the CEO previously lending the company's 150+mm out instead of simply gaining a 1% bank interest.
.......here's to hoping for the best.......
If half of the money is there, wouldn't $7 be 'cheap'?
If there was new information, it should have been presented in the STARR suit, which consisted of the same old information.
I'm not buying what you're selling.
I like ToThe's thought (who wouldn't!):
A restatement re. certain bank accounts to reflect 'pledge loans' and how to affix an asset value to those loans. This may reflect a partial ownership of other entities and possible future income for CCME that was not properly realized or stated on past filings due to misunderstanding with DT&T or misinterpretation on the part of DT&T.
CCME's revenue stream remains intact if not improved after restatement.
CCME will continue to have zero debt.
CCME may or may not proceed with a dividend or buyback as a result of the resignation of certain directors.
It is anticipated that there will be significant changes in results of operations from the corresponding period for the last fiscal year; however, due to the recent resignation of the registrant’s Chief Financial Officer and its registered independent accounting firm, the registrant is not able to reasonably estimate the change in results of operations.
I don't see that this MUST be a NEGATIVE change, they've had prior growth % that if continued, would be a POSITIVE change...
Not saying that this IS the case, simply saying their response does not lend to positive or negative findings, simply that thinks may, and most likely will, change.
So does this mean there are in excess of 22 million shares shorted, where the float is only about 12 million?
Essentially every share available has been borrowed and sold twice over???
FROM YMB:
For whomever is involved with writing the iHUB letter I suggest you fax a copy to the CV Starr legal team.
Their fax # from what I understand is 212 230-5092
Please make sure this gets passed along to the iHub folks.
Getting this letter to them tonight is critical. They are working on alternatives from what we all understand.
What would be the total cost, and point, of creating SWITOW under this premise?
I've downloaded the pdf and verified...
Mine does not say that, states Big 4.
Possible cache issue?
Good Job!
It is rather strange...i suppose one living in la la land could say the halt was to ensure that us longs are not hurt during these turbulent waters and the the new audit will extinguish all doubt, allowing the pps to open higher...
i like la la land!
% short was based on float...last count ~7.8mm shares...
Not only has the company placed itself in a position to hurt the shorts' position (making them pay), they've more importantly established that CCME is not one to f*ck with anymore, making the shorts think twice about EVER touching CCME again.
Well Played!
I'm simply saying that Ping stated that the Audit had no material matters of concern.
If this is true, then the T1 Halt is not related to the Audit, but more likely another material event...
I view this as a positive sign, especially if history repeats itself.
Why is everyone assuming now that the T1 has anything to do with only the audit (and in a negative view).
It is very possible that the audit is clean and ready, which triggered another event, such as an offering or other major investment placement.
Additionally, I find it much more likely that there was an abundance of information which will be made public (very positive findings) at once, and the new PR firm along with CCME, wanted ample time to maximize pain to shorts (a known enemy internally by the company).
With the absurd risk of leaking news, the only way to truly leverage their efforts was to halt the stock, allow for the prep of significant findings and allow the market to digest the information an a whole, allowing the smallest exit door for their enemies.
Lastly, this HALT was known by someone prior, as 500k shares were purchased 4 days ago, just a coincidence? Nope, not in my view. And notice it was a BUY, not a dump of shares, someone knew, and someone wanted IN
Thoughts on the massive volume spike 3 days ago? Could tomorrow be a news announcement from CCME on the last (4th) day they have to report it?
Well I totally blew my chance to get Jun $20 calls today....so now I'm aiming at Sept. $30 calls hopefully @ .15 a pop...
I'm hoping that this isn't too aggressive, I'm hoping that they'll double when we get the 10k out...then decide to hold or trade out...
Any thoughts??
What are peoples thoughts on buying $4k worth of April $19 Calls @ .30-.40 ??
Seems like a decent gamble, but then again, I'm a newbie with Options...