Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
$FSLY Fastly Analyst Price Target upgrades on Signal Sciences news:
FBN PT $105 (from $90 initiation 1 week prior)
Credit Suisse PT $110 (from $100)
More coming...
Patent '569. Anchor. Reasons For Allowance. Even better.
Undoubtedly. And you'll see off-label use of the ANCHOR indication from Day 1. The results are known and the safety is not a concern. It would be worked into any buyout deal.
From ariadndough's recent posting of Lazard's Valuation Matrix for Amarin (PT $26):
"In addition to determination of NCE status, whether
the FDA will approve Vascepa for the ANCHOR indication
remains to be determined, though we believe the probability is
very high; as close to 100% as can be taking into account the
fickleness of the FDA..." ~ Lazard
I don't believe so. It just shows up in the OB under the relevant field i.e. as NCE or NME. See Lovaza, which is listed at FDA as NME btw.
Where the FDA would have to present their decision making is in court. With Kurt Karst already listed as their outside counsel (and attended the FDA meeting in June on AMRN's behalf) you can rest assured that AMRN would seek to overturn any denial.
It's a change in Consensus Recommendations. An average. The previous mixture of Buys and a few strong buys had AMRN in a strong Buy range..barely. Today's neutral recommendation from Wedbush pulled the consensus average down to Buy.
Concerned? He's sitting on a position of 450,000 shares when you include his options. They vest immediately, as part of a golden parachute, on a buyout.
Jefferies said his theory was "illogical". FDA would have officially denied at PDUFA and let AMRN sue to try and get it overturned. Material event like a known NCE denial must be disclosed. Imagine the class action lawsuits if it wasn't.
How much do you pay for that service? It was discussed thoroughly on YMB yesterday:
link to thread on Healy
Not sure what happened. About the same time, Scottrade placed the value at $0 and the symbol now has parantheses: (CCME) which wasn't the case anytime prior.
FWIW United States: China Media Express: The Stockholder’s Right To Access Books And Records
Starr invokes right to access CCME's books
I'm still in. Going down with the ship..er ..sh*t. Figure I've got a big loss to offset capital gains at the end of the year. Might as well hold it and see what transpires by Dec. 31st, if anything. Hindsight being 20/20, I would have sold at the open when I was staring at $4.60.
Yes, it appears extension granted per YMB post:
YMB thread
SO ORDERED, re [15] Amended STIPULATION TO EXTEND TIME to Respond to the Summons and Complaint to June 13, 2011 filed by Jacky Lam, China MediaExpress Holdings Inc., Starr Investments Cayman II Inc., Set/Reset Answer Deadlines: Zheng Cheng answer due 6/13/2011; China MediaExpress Holdings Inc. answer due 6/13/2011; Jacky Lam answer due 6/13/2011. Signed by Judge Sue L. Robinson on 5/4/11. (fms)
We're all grasping at straws in the dark, but your theory is as good as any. It does create a firewall and given Kung's ongoing work for the Lin brothers at Wuyi Pharmaceutical makes sense (assuming he's still working there). As long as Jacky Lam hasn't gone back to working for Price Waterhouse and is conducting the audit (kidding), I'll take it as a good thing. I hope/expect CCME to announce a CFO and independent audit member as early as this week. Will it be enough to sway Nasdaq?
On a side note, and I know nothing about Kingold excepts it's a RTO, but their CEO issued a letter to shareholders today:
Kingold Letter to Shareholders
Agree. We'll take it at this point, and it's about time we had some relatively positive news. Not sure if this was posted here yet but interesting look at DEER firing back at the shorts esp. the apparently fictitious "Alfred Little" and seeking sanctions against Rosen for their class action.
Deer Consumer Products, Inc. Issues Warning Concerning Evidence of Illegal Short Selling of DEER Stock by "Alfred Little" and Others, to Seek Sanctions Against The Rosen Law Firm for Filing a Frivolous "Class Action" Complaint
I agree. I wish we could read that letter to CCME from NASDAQ. However, CCME's 8k says it all in the subject matter:
"Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing."
I believe NASDAQ is fast tracking us out the door, and at least we can trade.....maybe. GLTA
So now do we just keep an eye on the Nasdaq halt page for the code to change to delisted? Pink the day after that? I guess it's better to get on with it at this point. GLTA
Blurb from thestreet.com
China MediaExpress Holdings (Symbol : CCME)
Company Profile: China MediaExpress (Symbol : CCME) operates a television advertising network on inter-city express buses in China.
Current Share Price: $11.88 (trading halted since March 11)
Listing Violation: Public interest concern. The company was also slapped with a delinquent notice in March after it failed to file its annual 10-K report with the SEC in a timely manner.
Received Nasdaq Notice: April 1
Management's Expected Action: The Nasdaq moved to suspend the company's common stock from trading on April 12 on a flurry of news regarding accounting concerns and shareholder lawsuits. China MediaExpress (Symbol : CCME) appealed the determination and will go before a hearing panel.
On March 14, China MediaExpress (Symbol : CCME) said its audit firm, the Chinese affiliate of Deloitte & Touche, had determined it "was no longer able to rely on the representations of management, and recommended that certain issues encountered during the audit be addressed by an independent investigation." China MediaExpress CFO Jacky Lam also resigned.
I think the sec response is from a public liaison. Most likely with no firsthand knowledge of the case and writing up their response off the sec filings. Until NASDAQ issues their ruling, the sec is in the dark as to current status. The stock is still "suspended" but the sec email should have mentioned the filing where ccme told them they actually did appeal. If NASDAQ decides to grant an extension we'll see another sec filing "On xx/xx/xxxx, the company received a letter from NASDAQ....." and if they delist, it may happen to quickly for ccme even to get out a press release especially given their track record on keeping us in the loop. We'll see the code change on the NASDAQ halt screen first. GLTA.
Well, after staring at that .0000001 in horror for a day, I'm going to leave this on my screen over the weekend. AMEX CCME.UN
well, let's not forget Fujian Fenzhong (CCME) was originally Fujian ManDeFu Food Co., Ltd. Maybe pudding was one of their best sellers! LOL
Not independent. Wuyi Pharma's Company Secretary. Even wctBill's said the two companies are joined at the hip. Which makes the resignation all the more mysterious. Are even the Lin brothers trying to distance themselves? I've given up trying to understand CCME or looking for silver linings. Now just hoping for even an inkling of a bounce...if this opens anywhere.
WctBill's comment to me on his 3/21 blog on xanga:
Dawgpac68, Wuyi and CCME are joined at the hip. Definitely the Lin's are involved through Marco Kung.
Right at the buzzer, it went back to $. 0001 on 1051 shares on Scottrade streaming quotes. Still showing the $11.87 per share in my Balances page, though.
Crazy day. Scottrade shows it now at $11.8799 +0.0099
Ok now it's updated to the halt price on BOTH the streaming quote and account balance pages on Scottrade, Inc.
Sweeeet! Now go wake up some of those employees and have them show you to your new corner office!
I'm with Scottrade, too. Just saw it updated to the halt price. Really didn't need to see my CCME at a whopping total of $0.60 cents this AM. Still says $.00001 in the streaming quotes but the account value reflects the halt price. Now keep it halted for a couple months so the rest of the portfolio can soften the blow. GLTA
I think the Wuyi "special dividend" is more of a pre-emptive strike to stave off a short 'coup de grace' or to keep a major Wuyi shareholder from fleeing. Buying time before that house comes crashing down. Like wctBIll said "Wuyi and CCME are joined at the hip"
CCME: Suite 2805 28/F Central Plaza 18 Harbour Road Wan Chai Hong Kong tel#852 2827 6100 Source: Yahoo Finance http://finance.yahoo.com/q/pr?s=CCME+Profile
WUYI: Suite 2805 28/F Central Plaza 18 Harbour Road Wan Chai Hong Kong tel#852 2827 6100 Source: Wuyi Pharmaceutical http://www.wuyi-pharma.com/eng/global/contactus.htm
Agreed. And with Starr and Hagens Berman coming after them, Deloitte is backpedaling furiously.
Re: new CCME job postings. Interesting YMB post just now: http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=101061&tid=100818&mid=100818&tof=1&frt=2
Don't have time right now to drill down on it. CCME exhausts me, going to bed! GLTA . Keep the faith for good news or at least a respectable exit price!
Switow's hiring an Investment Manager? Subject to google translation FWIW.
http://translate.google.com/translate?sl=zh-CN&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fswitow.com%3A80%2Fhelpcenter%2Fmanager.do%3Fmethod%3DgetArticle2%26helpinfoid%3D005002
Just amateur hour. I mean what is the point of the comedy video under the Video Express tab? And the other channels? I think the website was hastily slapped together then translated from Chinese hence phrases like "Board of Committees".
http://www.ccme.tv/eng/video/ex-comedy.php
Hit piece attacks the appearance of auditor shuffle, but CEO addressed it in a past conference call:
"We continue to have strong relationships with all accounting firms that we have worked with over the last seven years. And still continue to utilize them. For example, our present consolidating auditors CBH have been our auditor since the last two fiscal years now. For fiscal 2009 our past U.S. audit firm HAW helped us with some income tax matters in 2009. In fiscal 2009 one of our past audit (BDO Seidman) continued to function as our auditors in Singapore, Sweden and Australia and now they have done that for more than five years."
Today's hit piece tanks the stock but allowed me to buy more. The author (written under a pseudonym) is admittedly short the stock and EBIX ceo and an analyst have reiterated their strong outlook in the past hour. It'll come back and maybe the hit piece author should read this article:
http://www.bloomberg.com/news/2011-03-24/barry-minkow-is-charged-by-u-s-prosecutors-with-conspiracy-in-miami.html
Might be interesting. Personally I like CCME's look at the history of their share price:
http://www.ccme.tv/eng/video/ex-comedy.php?section=beans
*EDIT Looks like they just updated the website to remove Lam and Dong. Lin holding auditions? And, of course, the analysts have been removed from the Analyst Coverage page but it does say to "Refresh the page often". Might be awhile.
http://www.ccme.tv/eng/ir/governance.php?section=directors
That's true. I guess there's some room for optimism. Maybe it's possible that they booked future revenue based on pending installations to pump the numbers and that there is an underlying business here. I guess I would be happy if that were the only cause for a restatement. Odds are low though. IMHO
Not good. Checked Yes, with an explanation:
(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
x Yes ¨ No
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
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 read it as CCME needing to submit a solid action plan by the 31st, not actually complete the action plan by the deadline. They could also say that they are regretably going dark and tell NASDAQ to take a hike. I hope not but at this point most of my worst case scenarios have come to pass I.e no analyst coverage, missed 10k, high level resignations, Starr lawsuit so nothing will surprise me. As we get closer to March 31st, there will be good info on this board on how one might play the open looking to get out and when a bounce might occur. Don't take any long vacations though as CCME said they would respond "on, or before" the 31st.
http://www.ccme.tv/eng/ir/press/p110321.pdf
Anyone seen this post re: Etrade info and squeeze? Interesting...
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=101061&tid=97876&mid=97876&tof=6&frt=2
"..I just got off a phone call from a sr. exec at Etrade (I'm a platinum accont and get access to these poeple). He is very familar with the CCME situation and is in contact with sr. people at other firms. Here is what he said: 1) all put holders were allowed to exercise their puts (March) if they could cover the margin requirments (most firms went to 100% margin requirments over the weeekend).2) over 80% of the March outstanding puts were excerised,3)Most of the excerised puts were naked and it will create over 15 million short postions (March puts alone, not counting ITM naked calls and outer months.4)this will create a "huge" Reg sho problem and the firms plan on doing a massive buy-in the day trading resumes to get into compliance (the option regulators allowed the additional naked short positions to be fair to the put holders so they would get a market price if they choice to take the risk.5)If the new longs can not cover there there nargin requirements other assets in their accounts will be liquidated and froze if there is still not enough money or any other legal actions will be taken.6) If the new longs have enough equity in their accounts to cover the CCME assigment, it was mentioned to put CCME stock in a cash account or take deliver of the shares to make the reg sho problem worse and increase the forced buy-in when trading resumes. The brokage firms hate this sitation and want to to go away asap (they will lose business in any event). The first few days of CCME tradingcould be the wild wild west. Any thougkt?..."