China MediaExpress Holdings, Inc. (fka CCME)

[Koufax]

The Committee has retained PWC to assist it in its investigation, but the Company has not hired PWC as its audit firm and, more importantly, PWC has not agreed to serve in that capacity.

There does not appear to be any indication as to whether the committee consists of two members or three, as is required.

If CCME is a total fraud, DLA Piper and PWC will both resign in about two weeks. If CCME wants to play by the rules, the investigation will continue to its conclusion. Let's see what happens.

It is certainly a positive development that the Company is willing to spend money to hire these firms to conduct an investigation. Only time will tell whether this is a ruse or really a step in the right direction.