China MediaExpress Holdings, Inc. (fka CCME)

[RedBull77]

When last we heard from the CEO he had these things to say. FWIW (which may not be much at the moment). I'm sure many investors went in deeper after seeing these reassurances about the state of the company.

http://www.ccme.tv/eng/ir/ceo_letter.pdf

ALLEGATION: The Company is a fraud and reported revenue is exaggerated by tens of millions of dollars.

FACT: The Company is strong and doing well. Its revenues and cash position have been audited by reputable and well-known auditors who have confirmed both.

ALLEGATION: The 2009 SAIC revenue does not match with our SEC reported financial results.

FACT: CCME’s SAIC reports were prepared in accordance with pertinent SAIC rules and policies. Our consolidated financial results reported in the Company's audited financial statements are prepared in accordance with US GAAP.

Thank you all. I particularly hope that the those shareholders who have remained loyal to CCME and share the vision I have to responsibly leverage our “tongzhi” and designation as the exclusive inter-city bus TV media by China's Ministry of Transport and thereby grow our revenue and profitability will accept my sincere and humble thanks for their trust and support. I am also heartened by the fact that many people have, unbidden, posted responses to these scurrilous attacks and have strongly supported the Company. They have done this on their own, and I thank them for their support. For the stock market speculators interested in enriching themselves through manipulation, information arbitrage and a “zero sum” gain, all at the expense of our investors, I am certain that their actions will ultimately catch up with them.

Zheng Cheng
Chairman, CEO and President
February 7, 2011