China MediaExpress Holdings, Inc. (fka CCME)

[UpstateChris]

Here is another random thought of mine...

Per SEC regulations a company must disclose any materially significant information no later than 4 days after obtaining this information. They obviously had the information some time prior to requesting the halt. Therefore if the information is factual we should hear it no later then end of today (maybe tomorrow if allowances have been made for the time difference). By factual I do NOT mean "true" I mean that the information is cut and dry fact, like Deloitte resigning, or Deloitte finding something, etc. In other words, news that is NOT currently ongoing and dynamic, like buyout negotiations would be.

So in my mind I feel better if we DO NOT hear news immediately. Just about anything negative I can think of would be "OK, here is the news" facts - not things that are still developing. Now, I could be WAY off base here, but that is my train of thought...for the moment anyhow.

Also, anyone interested in reading the SEC's take on when you and your auditor do not play nice, here it is:


§ 229.304 (Item 304) Changes in and disagreements with accountants on accounting and financial disclosure.

http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=20c66c74f60c4bb8392bcf9ad6fccea3&rgn=div5&view=text&node=17:2.0.1.1.11&idno=17#17:2.0.1.1.11.4.31.4