China MediaExpress Holdings, Inc. (fka CCME)

[dyam926]

Based on my knowledge with big4(I am a CPA with one of the Big fours for years), here are some of my thoughts:

- In the United States, how auditors confirm a company's cash balance is by mailing a confirmation letter directly to the bank department and they will get back to you. In China, auditors actually needs to go to the bank themselves and ask the bank to print out the confirmation in front of them and sometimes it needs to the bank's management sign it off.

- To me the "China" way is much more effective in confirming the Cash balance, based on my understanding, CCME is using big name banks in China including Agricultural Bank of China(Listed company in Hong Kong and Shanghai) and HSBC. That makes me strongly believe the 10K cash amount is real, I mean, if you can make a fraud case by manipulating the employees/management of Agricultural Bank of China and HSBC to print and sign fake confirmations, that is the best fraud case in the world and you win.

This confirmation method I mentioned above is universal in Big4 with no exceptions.