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Underwhelming/bleh results. Better than nothing I guess. Current price is probably about fair value.
Where have you heard they are raising money at $.50/share?
My guess in the company is DOA. If the trial was successful, the wouldn't need to retract those statements, because those statements would have likely have been truth. I wouldn't be surprised to see a lawsuit if the trials come up real bad. Replicel has been buying those paid pump articles for a couple of weeks now, and they have been analyzing trial results for over a month now, so they've known for a while what's it's true efficacy is. So if they were paying for pump pieces saying that it's a billion dollar cure, all the while knowing the true lack of efficacy of their treatment, and then waiting until after hours on the Friday before the Monday their results are (presumed) to be released on, while they had 2 weeks to retract the statements, but since the ads have been running they have seen a substantial run up in price, all the while trapping in hundreds of retail investors and desperate bald men, only to drop the bomb on them on Monday.
Some lawyer will have a field day with that.
Finally out, I'm free from the CCME shackles, it feels liberating. I liquidated my position in 4 trades:
25% @ 4.55
25% @ 4.60
25% @ 4.61
25% @ 3.80 (after the bottom fell out)
Good luck to everybody waiting it out.
I guess that might add some credence to the prank or mistake theory, I just find it a little hard to believe that CCME would go straight to the Grey Sheets from NASDAQ, skipping the pinks. The pinks sure, the greys, just doesn't seem right. If it actually goes straight to the greys it probably means that things are worse at CCME than we ever could have possibly imagined.
It seems that ccme has finally been delisted to the otc. I'm a bit surprised though, I thought a company had to be current in its SEC filings to be listed on the OTC, unlike the pinks.
An interesting accusation from our favorite yahoo poster donmonfort:
deleted post on Ihub 15-May-11 11:18 am
I just heard that a post was deleted from Ihub that said wctbills was told by his contact in CCME that Piper and PWC are going to quit because Cheng is not co-operating. Anybody see the post? That would be the last nail in the coffin.
anybody else see this?
LOL. The CEO is probably a very lonely man right now, maybe that's the kind of letter he needs to get the ball rolling. I mean, he is a communist after all, and with his obvious ego mania, maybe he just wants some complete, total, blind adoration from his subjects.
could you refresh our memories as to what WCTBills post was?
Could Jacky Lam's "purchase" constitute a Chinese national buying CCME?
I agree, even though it appears things are completely unraveling at CCME HQ, Nasdaq won't want to act prematurely just in case CCME do actually get their act together in the next month. Nasdaq has a rule book and I think they will stick to it and give CCME a chance to prove themselves legitimate.
At the March meetings I'm sure they discussed hiring a new auditor, hiring a forensic auditor, hiring a new CFO, launching and investigation, and cleaning up the massive mess Cheng has gotten us into. I mean what else could they have been discussing after the DTT resignation and halt? Kung made it clear that company hasn't made and tangible progress in the past month. That likely means no progress in the areas I listed. What else could he mean? They have had a month and haven't even made a little progress? And this is coming from a guy who was probably friendly with Cheng and in the Lin bros pocket.
The problem is, unless the company comes out with some seriously good news, which is looking less and less likely (the recent 8-k indicates things are not going well, if anywhere at all even, in the CCME overhaul), the stock could open at $1 or even sub $1. So a decent bounce from $1 is what? $2? Today's 8-k was a major buzzkill and really wrecked any optimism I had. It pretty much indicates that Cheng has done jack **** in the last month to fix the problems DTT alluded to. I was feeling real optimistic too by CCME even appealing, but this thing is just falling apart. Sucks.
http://www.thefinancialinvestigator.com/?p=362
More video from Roddy Boyd...
(Edit: whoops, not meant to be a reply to ridiculoustrader, supposed to be a new message. Sorry)
Who's to say they didn't hire headhunters for the job. Maybe the did, maybe they didn't, we'll prolly never know. But I don't see the problem with advertising on job sites. Why not use all available options? There may be some young, aspiring candidates that fly under the headhunter's radar. CCME is not going to get a multi-million dollar, big name CFO. The recent allegations will deter some, and after all, CCME is not a massive fortune 500 company, its 400 million market cap. The big name fortune 500 CFOs had to start somewhere, they weren't born into their position. Why can't CCME be the place for some aspiring young executive to take that next step?
The ceo replied with a brief note thanking us for our thoughts and saying that his lawyers were advising him to say little.
His lawyers or CCME's lawyers?
No, its not even a 1 bagger. Its a %90 plus gain though. Going short it is impossible to have greater than a 1 bagger, as the lowest a stock can go is 0, which would be a 100% gain.
Ugghh, I'm so not gonna make that mistake again. I ignored the short arguments because they countered my already long position. Lesson: Do your DD BEFORE taking a position. I still believe that there is some value left in CCME, although it is looking increasingly bleak.
Where do you get off making your blanket claims like that??? This is not a yahoo message board, as you are portraying it. This IHUB CCME board, where I have read almost every post for the last 3 1/2 months has been an invaluable resource of information and analysis regarding CCME. There are numerous very intelligent and experienced investors here, most notably, Fernando, Timothy, Glen Bradford, WCTBills, Michael Anderson, and Joe Natural, who have all performed abundant amounts of due diligence and have been nothing but honest and forthright with their presentation of information. The only thing you can criticize this board for is the unnecessary censorship of opposing information by certain moderators, which has been all too present these last few months.
We still don't know what's gonna happen with CCME. Maybe CCME passes a forensic audit and proves itself innocent of any serious wrongdoing and eventually recovers its shares price over the long term. Maybe CCME was a complete fraud and goes dark and its share price begins a downward spiral towards $0.000001 (although I think this is highly unlikely with the amount of due diligence that has been performed indicating that CCME does indeed have a viable underlying business). So, ValueInvestorToday, how bout you go pester posters back on the stinkie pinkie boards where you belong.
I want to know if that's because FH has left CCME or because FH doesn't want to be publicly affiliated with CCME...
Perfectly put. I understand why people are emotional, but just wait for all the facts, nothing has been proven yet. Though I will admit it doesn't look good.
What about the possibility that he knows something you don't and has a couple tricks left up his sleeve. He knew the bad news was coming and maybe wants to protect shareholders from a massive and brutal sell-off before all the facts are known. As angry and emotional as everyone is right now, you can't deny that we don't have all the facts yet, and maybe the halt really is for our own good. Why else would he halt it? If it is a fraud, he's got our money, I find it hard to believe, if this company is a fraud, that he would bring more attention to himself and the company just to stick it to us shareholders with a halt...
Yikes!!! That is a bit of a red flag there, I didn't notice that when I read it before...
and what "brutal reality" would that be?