China MediaExpress Holdings, Inc. (fka CCME)

[Traderfan]

No sooner had the ink dried on the 1.8 million share sale when Rodman and Renshaw began shopping a block of 2.5 million shares (at a discount) by a related party. Investors have also heard recently that the company–apparently prodded by Starr–would like to raise $100 million through a registered offering, an odd prospect since the company is poised to generate over $100 million in free cash flow alone over the next four quarters with $169.9 million in actual cash on hand as of September 30. Precisely what this capital is for is not clear: they have yet to spend $3.6 million on capital expenditures in the preceding nine months


Is that true? Anybody heard anything in this regard? I mean it should be easy to ask Rodman and Renshaw if they are shopping a 2.5 million share block from a related party. Same with a possible 100 million offering.