Shareholders may want PR fast, as you say. How could a shareholder not what to know every detail. Really it's too late now for a quick PR. No PR now will be seen as quick. They are in so deep with shareholders that they may as well take their time. The PR that comes now is already sluggishly overdue to the point of being beyond the pale.
The CCME reputation is already pretty awful. Whether investors wait weeks or months for new PR will not make investors any happier such that they alter their investment strategy of a halted security. Reality is CCME doesn't have to say much of anything until they get their ducks as lined up as much as they are able in the maximum time they can drag this out.
Longs were all hoping-- even expecting -- the lined up ducks would start quacking with what was anticipated to be the March 16 10K+buyback announcement + dividend announcement. CCME accounting was in way over their heads. Deloitte definitely wanted an exit. Someone in CCME had done some things that were not dotted i's and crossed t's.
Rosy Scenario: If CCME does retain the forensic auditor and CFO to somehow meets the NASDAQ deadline, we may not hear more than that information until even another quarter goes by. Then they could have whatever restatement info they would need for 2009 and 2010, plus no restatement needed (yet for the additional quarter(s) they would also then announce. If they were to do this with a dividend and buyback, right before trading resumption, they would really be rather redeemed.
Will the above scenario play out? Not likely. But it is on the radar until facts show why it's not.
Am looking forward to seeing a filing on the 900,000 earnout shares from 2009 and also hearing more information about how Jacky bought the 100,000 shares in his name. Or was his exit an attempt to not have to answer questions about how he got the cash together.
-Andrew
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If only he would stand by his word and let shareholders have some info...They need PR, and fast!
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