Replies to post #30220 on China MediaExpress Holdings, Inc. (fka CCME)

[floridahockeyman]

that's possible, but at least facially inconsistent with the company's solicitation of Kung to reconsider -- and Kung's agreement to suspend the effectiveness of his resignation for a week.

nonetheless, it could well be that ultimately Piper's judgment call in this regard (again, assuming purely arguendo this occurred) prevailed notwithstanding an initial outreach to Kung to reconsider

we'll just have to stay tuned... ;-)

[dawgpac68]

We're all grasping at straws in the dark, but your theory is as good as any. It does create a firewall and given Kung's ongoing work for the Lin brothers at Wuyi Pharmaceutical makes sense (assuming he's still working there). As long as Jacky Lam hasn't gone back to working for Price Waterhouse and is conducting the audit (kidding), I'll take it as a good thing. I hope/expect CCME to announce a CFO and independent audit member as early as this week. Will it be enough to sway Nasdaq?

On a side note, and I know nothing about Kingold excepts it's a RTO, but their CEO issued a letter to shareholders today:

Kingold Letter to Shareholders

[bullmarkets]

Look at it this way: CCME (or its lawyers) are finally learning.

An older CCME would have announced that CCME has retained PWC or a contractor who retained PWC for auditing, investigation, or forensic accounting review.

i.e. Apple or its distributor, when it was plainly just a distributor.
i.e. leaving open lots of possibilities through deliberately placed ambiguity.

Instead, today CCME shared the nuances without leaving shareholders to speculate about the possibility of an A to B (direct relationship) between CCME and PWC.

This is hopefully the first of several instances where CCME management/advisors can show their maturity.

Updating the website to something modern on all pages would be a welcome yet inexpensive step too.

-Andrew