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The whole thing is crazy-Financial sociopaths
1, Why go after a bigwig like Staar who did a ton of diligence on the core business before investing?
2,is their a core business? Ping and a ton of people went their and saw the busses? DTT in their filing said CCME did double count buses but believe their were still something 20k buses and only 3-4% were double counted
3, The Linn brothers own HK stock -wuyi and that should eventually kill their business.
4, Jackie-that scumbag-open market buy of 1.5mill for good looks but how much did he steal back door
5, ceo,linn brothers, just sociopaths because the fraud was over the top-Staar-DTT-Jackie-Ping-WCTBILLS, Lin brothers from HK-
Also Bronte pointed a lot of the fraud is basicly ponzi scam on land rites or HRBN ect basicly used most of the money to buy land-if the price of land went up they went private because they could sell the land and make the difference-thats the fraud.
CHBT-first of the alleged fraud to file report
CHBT shockingly filed their report-about 2$ a share. Still a shady report- revenue down 50% to 50mill-net income down like 90% to 3mill-cash ard 75mill but lot of shady stuff like 20mill loan plus some investmemts. I wonder if today annual report is basicly the real CHBT and the past numbers were all exageratted- but their law firm refuted all their accountants claims and had a new accountant sign off on it. Now -they have to see what the SEC says.
Chinese frauds are the worst because their is zero transparency,accountability, and prosecution. Their are frauds and companies go bankrupt all the time in the USA -However, bond holders usually get 20-35cents on the dollar in bankruptcy and if their fraud like Enron-Worldcom people go to jail and theirs closure. The chinese frauds have zero debt so equity owners own the whole company. If CCME was 50% fraud, had 45mill left in cash-their would be still liquidations value say 3-6$- obvious thats the HUGE mistake i made that there would be zero ANYTHING-just disappear - VERY SAD because at least you want closure on what really happened-what was deal with Ping? whats the deal with staar? wheres global hunters due diligence file on everybody ping interviewed-standard stuff? How is the linn's brother, marco Kung still involved in publicly traded company? As bronte capital said- most of the frauds are involved with the princelings in China so thats why you will see nothing- that makes somewhat sense-
http://www.businessinsider.com/100-dollars-bernie-madoff-four-years-ago-2012-9
Yes i agree
but thats what he thought-it was honest mistake.
Nussbaum at Loeb and loeb
still involved with CCME or China? Why did he write that letter to the newspaper??
You could buy it thru global firm- Canada-Germany Ect
you couldnt buy it thru USA exchange brokerage
which was strange-thats why they lost their clearing agent.
no idea what it means
Where's the staar lawsuit?
It got delayed2x- their were a ton of good information from that lawsuit.
Some very positive and some very negative. At least with that i thought you would get answers and a final outcome.
Did staar settle secretly with CCME in China? Got their money back while everybody lose here? I emailed Staar and never got answer.
Chinese boycott and stange events:
1, the market has already boycotted the Chinese market-Theirs been 1 ipo in 2 years in this market. Also, the spread of S&P verse China( big cap stocks in China) is almost 90% and small caps is probably 200%. Chinese ecomomy is struggling and their bid to get cheap money for innovations for small companies have dried up. Every Chinese related in USA is out of business or close- see Rodman- SEC is going after all the stock promoters- I think the big negative is you simply want the truth, transparancy, and accountability with CCME and others. Simply going dark with no answers is the worst?
1, Wheres the staar lawsuit? Linn brothers sold them stock that alone is easy securities fraud. Linn brothers trade in Hong Kong so whats going on there?
2, THe WSJ had article saying CCME spokesmans said all the chargese would be proven false or nothing material when Piper was done? Who is that spokesman-Securities fraud
3, Need to subpoena Global Hunter because they said they had huge list of clients they talked too which is normal due diligence?
4, Staar said they hired DTT advisory to perform 3 months of due diligence before investments- Securities fraud- Huge paper trail of due diligence that for lawyers looks like easy prosecution.
5, What did dorothy dong know or marco kung?
Linn brothers have a publicly held company in Hong Kong-Wuyi Pharma(google it and get number and email)I have called them and emailed with no response but at least lawyers have assets to go after in Hong Kong
the strange part is what happened to the staar lawsuit? Did staar drop and get side money from them? Why would staar just walk away?
Also, if you read the SEC filing CCME lawyers were talking to SEC lawyers and denying all claims up to just recently- at least ccme had USA lawyers talking to them. The lawyers also stating they were still investigating the case-
Now, I hope SEC at least formally charge everybody involved which would have problems for Linn brothers other publicly held stock.
I already emailed the Hong Kong exchange about investigating Linn brothers or delisting them.
Here's the detailed filing from SEC
http://xml.10kwizard.com/cgi/image?g=&quest=1&rid=23&ipage=8444425&doc=1
ZERO info on anything
Zero info on Staar lawsuit?
I agree thats why its 10cents-
I think the only positive is basicly their involved in a major lawsuit against a big owner plus others thats basicly been agreed by both parties to delay it- The simple fact is the lawyers are running the show right now as you have seen with the court filing so when lawyers are running the show nobody knows their gameplan regrarding information and/or settlements. The main positive:
In december i emailed nussbaum at loeb and shockingly he responded about lack of news- his qoute was you will not get any news until Piper is finished. Why would lead lawyer basicly respond at all if Piper was not doing anything? The simple fact is the legal paperwork stressed again that piper was working on it. I don't think you get any news until Staar situation is somewhat settled or you get zero which basicly where we are now-
but CCME at least are paying the lawyers
Piper still on the case
Koufax-Wheres the news on that?
At 10cents thats huge great news that Piper is still working on the case and they denied everything-
I dont know but when CCME was double digits their were literally hundreds of people that rode the buses and verified they were on the buses so who do you believe? Their's probably no doubt their business is hurt dramatically but how much cash is left and business is left? They had 200million plus as of last filing from Staar, warrants, equity offering, business, suppossely? The market cap of CCME is what 3million- at this point im not looking for 10-20$ but anything over 1-3$ range which I agree looks like a longshot .
CDCAQ-CDCSY
Two asian stocks with parabolic moves-
CDCAQ 7cents to about 5$ since december
CDCSY-90cents to being bought at 11$-
Both related-
Thats about it- The problem I see is their is somewhat fraud on the whole group(prob minor or all out) and I believe trying to get out of is tricky in which even small fraud the CEO should go to jail. Since the CEO controls these companies LITERALLY its a tough situation. Either admit the mistakes and move on but this puts CEO in big trouble with lawsuis and prison or do nothing and screw USA shareholders- Look at FUQI- the CEO pledged 70mill to local Banks for collateral without reporting it - the money has been moved back but no news since and fuqi has 20mill market cap. The problem is CEO is sitting down with lawyers and their telling basicly its maybe not a huge deal in China but what you did was illegal in which your liable for massive lawsuits and prosecution by the SEC even if you move forward- Say CCME is 60% real with 120mill in net cash- value about 3-5$ but coming out Zheng and others are still liable for fraud and prosecution so what do they do?
200million plus in cash as of their last filing is dramatically more important to their structure now- This cash represents money raised from stock, warrants, staar, cash flow.
SEC charges 2 puda coal executives today-
Congrats and scenario's trading on the frauds
If you look at the group
Cagc- came out clean-hired news CFO plans on filing- 60cents to 2.20$ range- i think goes lot higher
CHBT- hired outside money mangager plus filed that they cant file return BUT plan on too- 50cents to 2.00$ move
apwr-dgwiy- basicly made comments they are breathing- 60-70cents
longtop- no word from them - delisted
rino- no word from them 15cents
ccme- no word from them 6-25cents range
my point if CCME breathes you could get a big move from these levels. if the say nothing you will probably get longtop.
CDcaq Cdcsy-2 alleged pink sheet Chinese frauds up like 500-700% this week on a 200mill plus buyout deal but hey nothing ever comes back right.
My favorite is Cagc-
Chinese fraud article mentioning CCME
http://www.thestreet.com/_yahoo/story/11399949/1/fraud-claims-dog-qihu.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
No idea, that's what sad at the top their were tons of so called "Chinese people" on this board that at least said they did on the ground due diligence work on the company than they all disappeared ? It doesn't bother me because I think most Asian investors are sheep and follow people and once ccme blew up they hid under the rug whether ccme had a business or not but Chinese investors or Asians because of pride rarely go against the crowd or contrarien investors - they pumped ccme at 2-12$ plus and instead of having the guts to stick it out , might be dead wrong , they frankly just hide under a rock but everybody knows those Chinese investors -ha
Why does staar what further extension ?
Makes no sense as usuall- if a company had 30mill of your cash that was worthless why would you seek or keep agreeing to extension unless :
1, ccme lawyers and management have met with staar and gave them some positive info that has made staar Dramatically more comfortable that they will recieve their money back plus-
2, hey this is China - nothing makes sense
CHBT-puda
can you buy these stocks from american brokerage?
thx
Yea- CHBT is over 2$ now
Im sure business too a hit because of the charges just like CAGC
and others.
The questions is about cash and the truth
Nobody has a clue :
A couple points :
At least ccme is answering the legal questioners and paying their lawyers . I think the only positive is because of the serious lawsuits against the management that it could be the lawyers telling them you can't say anything until the staar lawsuit is settled . I think the only positive is staar continues to agree to extensions in their lawsuit - you would think ccme lawyers had to give staar something good for them to keep extending the case - maybe a settlement . The main thing at this point is ccme to be honest and open up the books . Ccme had over 100million in cash in their last filings so it's maybe its not worth 10$ but it might be worth 2-5$?
The Chinese market seems like it's coming back . Puda which is a scam has bounced from 10cents to about 70cents . Cagc which was in same wsj article with ccme , in which both denied everything , has come out and said all negative accusations are false and stock has bounced from 50cents to 2-3$ range . The strangest and monster move of chbt from nothing to 1.50$ today with zero news - so their life out there .
Nothing like having 72 year old mom as the front
Must be swell guys from Vegas ha
At this point you want the truth then I think
you can move forward. These legal cases I think will force CCME into it which at this point is a positive.
Read the report
The summary not the 25page report from the court to allow defendent to go over the books. The one thing I didnt get was the timeframe or how it would play out.
this was CCME response
But China MediaExpress argued the reports Paul relied on were hearsay and were drafted by shortsellers looking to profit from the company’s downfall. The reports had spooked Deloitte Touche and the directors that resigned, becoming “a self-fulfilling prophecy,” according to China MediaExpress.
"I believe they are trying very hard to stay alive "
Sunztzutrade -can you elaborate on that comment -thx
100million in cash discounted , no debt that's after paying staar back .
You can't go bankrupt if you have no debt - so the question is really what happened to the cash -
If ccme , linn brothers want to go dark and try to steal investors money I guess that could happen .
The strange thing is the information age where anybody associated with will never get a job ever with a public company . The linn brothers hong kong company Wuyi is down 75% and obvious easy target fior lawsuits and regulators -will the Chinese government not do anything on these frauds ?
I don't think anybody has seen anything like it before so nobody knows the outcome .
I think the game over for 7-10$ but at these prices I'm looking discounted assets 2-4$ maybe if we are lucky .
Watg CEO stole 15mikk from the Compsny it's at 1$ with bids in it .
Cagc had same attacks where their special committee said all claims were false -1.70$
chbt looks worst than ccme and their bid at 70cents
Puda is a fraud and it doubled this week - I own ccme and cagc but looking at all of them .
PUDA-10cents-72cents
in last couple weeks? Cagc was a complete scam but they came back clean stock bounced from 40cents to 2.80$ and now 1.60$.
CHBT has bid for whatever around 70cents.
A great friend bought 300,000 shares of ccme around 9cents last 2 weeks -cheap option on the future.
My daughter is very lucky
Only 9 years but has a great heart and she won my biggest winning on a scratch ticket and general has great luck .
I'm going to give some shares in ccme for Christmas and explain the odds and hope for some good luck .
Good luck to everybody on this board . "this too will pass"
I
I enjoyed emailing Wuyi and Marco Kung about the linn brothers alleged fraud in ccme. Wuyi's a publicly traded company in Hong Kong so its justified question why are Linn brothers still in charge at that company. It probably does nothing but makes me feel better throwing grenades at these guy. I was pleased Marco replied to me that they can't comment because of the staar lawsuit- I will email again if updates on the FRAUD case against they boys at wuyi-ha
I agree but thats why we are at 11cents-
No public info from the company and i said my emais are true
but its reaching for straws at this point or really dont mean much.
like i said the only positive is i got a reply from him-ha