Replies to post #28265 on China MediaExpress Holdings, Inc. (fka CCME)

[rru2s]

My hope is that most human beings are honest and that any mistakes were inadvertent and/or not with the intent to steal money or exaggerate the financials. But then again, I've been around the block too long to be so naieve about human nature. This is business we are talking about here, and the extent to which people will go depends on what they think they can get away with given the expected level of oversight. And quite clearly we have all been learning that the level of oversight regarding the financial reporting of US-listed China stocks is pretty dismal and inadequate across the board.

[RedBull77]

So, business as usual? That's all I was really hoping in the first place. LOL!

[Traderfan]

It sounds funny but that would be my best guess how the company will go ahead from here. They will hire an easy to fool auditor who signs off on anything (there are lots of these out there in this space), a CFO who doesn't care as long as he gets paid, they will hire a crooked and biased internal forensic audit committee and will file a 10k sometime in the future.

If the SEC doesn't put them on the pinks because of the Deloitte allegations and gives them the chance and time to do the above I think this will happen. But first they need to file for the plan tomorrow.


CCME finds a "crooked" auditor, that can cook the books, so it does not look like the "books were cooked"...If they were at all.
Then we may be able to get out at a reasonable price, before the crooked books are found that they are crooked, by a crooked auditor