China MediaExpress Holdings, Inc. (fka CCME)

[RyanW439]

One thing that seems to be overlooked here, is that Deloitte already audited CCME once, and validated a 42M net income/ 95M revenue year in 2009. This was before the airport bus segment, and before the embedded ad segment, as well as a 15% rate increase. Sure, the level of scrutiny will likely be stepped up a notch on this one due to the allegations, but it's not like they weren't already audited with numbers a year ago that would imply a value of $15 + cash on hand.. We're under valued by last years figures...so even if the earnings were overstated, the company is worth what we're trading at now. Of course, any fudging of numbers by management would be terrible for the share price and market confidence going forward, but just something to consider.. It's not like the company hasn't been audited before and there revenues showed to be way more than 17M or 600K last year...