China MediaExpress Holdings, Inc. (fka CCME)

[Motor City Trader]

Even the YMB has an occasional gem...

From a Motley Fool contributor, the best defense of CCME yet:


Message part 1:

"Seriously? You're going to trust some greedy shortsellers with a "conflict of interest" profit motive for bashing over some FAR MORE legitimate sources?

CCME has been thoroughly vetted by not one but several sources:

First, the original SPAC co. TMI, which was looking for a superior company with which to merge in early 2009. Then Starr Int'l, founded by Wall Street legend and pioneering China biz expert Maurice "Hank" Greenberg. Before doing a $30M PIPE investment in CCME (completed in Jan. 2010), Starr engaged THREE outside investigators to spend 4 months closely examining CCME's business model, its finances and its legal status. Starr then insisted that one of his people, Dorothy Dong, have a seat on CCME's board starting last Jan. (2010), and since then she’s had ongoing access to all co. books. She and Greenberg must like what they see, because Starr/Greenberg bought another $13.5M worth of COMMON shares in Oct. 2010.

CCME was more recently vetted (from late Spring 2010 onward) by independent analyst firms Northland Securities and also Global Hunter --the latter's senior analyst Ping Luo went on record back on Oct. 15, and once again after the Citron hit piece last Monday, to specially note that she and colleagues had done wide-ranging channel checks with bus operators and advertising clients and brokers to obviate any possibility of fraud with CCME and confirm the cashflow and cash holdings. GH and Ping Luo are putting their reputations on the line with their staunch defense of CCME against fraud charges.

Another independent analyst joined Ping Luo in leaping to CCME’s defense last Monday morning when the deceitful Citron “Research” piece against CCME came out by...Andrew Left. That's veteran analyst Darren Aftahi of Northland Capital (who used to cover CCME's out-of-home advertising peer FMCN when at ThinkEquity), who has also had a 'strong buy' rating on CCME since last July. Both Global Hunter and Northland Cap. reiterated their strongest 'Must Buy' ratings last week, and Northland clearly reiterated that CCME is their “top pick” for 2011 among 97 stocks in their coverage, and CCME is only one of 2 or 3 China cos., so that is a remarkably confident pick. "

Part: 2


"CCME’s auditor is the #1 firm in the world, Deloitte Touche Tohmatsu, which audited not only CCME’s 2009 10-K filed in March 2010, but also has reviewed their Q1, Q2, and Q3 10-Q reports and is well along in its most recent auditing of the 2010 10-K.

We could also mention the growing institutional ownership of CCME shares by major entities from GS to CALPERS...

And has a 99 composite rating from IBD.

And that CCME was rated #1 most promising pick for 2011 by Forbes China on Jan. 10.

And that CCME is the biggest holding of Mike Koza, rated the #1 stockpicker of the past 5-year and 10-year period by Marketocracy and Forbes (see several "Buffetts Next Door columns" by Ken Kam and Matt Schifrin).

Last but not least in the vetting of CCME is that done by several major retail investors, who own about 9% of CCME's share-float, most of whom attended CCME's Investor Day last September. These shareholders have openly posted at InvestorsHub.com, Yahoo m.board, and Seeking Alpha about their methods to determine that the bus counts and operations are quite real. For instance, see the fine d.d. blog by "WCTBills" (http://ccme-info.xanga.com) with ample video archival footage and brief interview material (with bus operators, et al.), and extensive refutation of recent shortsellers' lies and wrongful omissions of fact.


CCME's CFO Jacky Lam is a former auditor for 8 years with PWC (Price Waterhouse Coopers). He is very responsive to shareholders, unlike many or even most CFO's you'll ever try to contact. Email him at jackylam (at) mediaexpress.com.hk if you have further Qs.

So who are we gonna believe here? The lying, manipulative shortsellers? Not me! I've been buying more CCME at these crazy low prices...."