China MediaExpress Holdings, Inc. (fka CCME)

[viking86]

I agree. To be conservative, I am assuming that the e/o shares will be issued the same day 10K is due, i.e. Mar 31,11. In reality, they can be issued months later (e.g. 5.5 months last year) what will make the avg weighted even lower for the year. So my calculated avg weighted fd for 2011 should be on the high side, resulting in a lower eps estimate. Here is what I modeled for 2011 aw fd:

Q1 = 39.7MM
Q2 = 46.7MM
Q3 = 46.7 MM
Q4 = 46.7MM
FY 2011 = (39.7+ 46.7x3)/4= 44.95MM = approx 45MM