China MediaExpress Holdings, Inc. (fka CCME)

[amychan]

Crucify me everybody, I don't care. I don't think this is over yet and after reading the 8-K I don't see where Deloitte says they can't find any cash. What they did say was there were issues "related to the reliability of the bank confirmation process." This could mean a host of things including internal bookkeeping problems and lax controls. I would think if they found no cash they would have to file fraud documents with the SEC. "However," China Media said in its filing, "the Company believes that it was working to address these items at the time of DDT's resignation." Why would the company make that statemment if it was a fraud? Why would they file an 8-K if it was a fraud? Wouldn't they close the doors and run with the money? I'm obviously long and wrong but I would like to see a little more clarification until I throw the towel in and say Deloitte found no cash and the company is a complete fraud. If the company does call in a forensic accounting firm that would be like calling in the police after you've committed a crime. Why would they do that? Like I said, crucify me but I would rather deal with facts than assumptions.