China MediaExpress Holdings, Inc. (fka CCME)

[Headley Lamar]

The problem with the Muddy Waters report is that they set it up in a way that even if CCME confirmed their cash balance they wouldn't be refuting all of the claims. MW is claiming that CCME may have the cash but that they are using it to buy investor credit. This was a well orchastrated hit piece and there isn't much management will be able to do to calm the waters immediately. So it looks like it is going lower for the short term. Long term it really depends on how well management gets their ducks in a row to rebuild credit.