China MediaExpress Holdings, Inc. (fka CCME)

[RidiculousTrader]

I think the share buy back should be considered off the table at this point. The company is in the midst of launching a major new business initiative. Opening 400-500 boutiques will require a decent amount of cash and I hope all of you now see why Jacky was raising this capital over the last yea. We will see a significant increase in revenues from this venture in future years, just remember that this is going to cause a decent amount of capital at the start.

The whole purpose of the share buyback was the market was pricing the stock as if it were going bankrupt, this is not the case now. I am very glad that the company stepped in and essentially told the shorts they were screwed and were willing to defend the stock if it continued trading in that sub 10 region. Fortunately though the market stepped up and caused a rather massive correction and now we have the stock trading up 100% off its lows. So the share buyback did what it was expected to do.

So don't expect to see any shares bought back... I certainly hope the company isn't buying back shares, they have much better ways to put that money to use.