Hi Val '008
It was a pleasant surprise to hear from you today. Thank you for reiterating all the reasons several hundred seemingly logical educated investors like Bullmarket, Marty, Swamp, fernando et al infinitum gladly placed their necks on "blocks" in the hoods where angel investors would fear to tread.
Yes, between the vast majority of innacurate and unfactual misrepresentations presented by Citron and Muddy, and the fact that just by the increduality of their obvious lies, inbetween snippets of half-truths as purported by Rato earlier that made such obvious sense to anyone with half a brain, there is yet to be proven anything factual, except that Forbes, Ping Luo, Mike Koza, and a former Fed Chairman, Multi-Billionaire, and one of the most legendary Chinese investors of all time trying to rebuild his legacy were duped far greater than any of us.
I especially enjoy when one of these I told you so geniuses, Captain Hindights, recycle the 1% of arguments made by Citron and Block that had some half-truth in it. RE: to paraphrase, exaggeratedly: they used Shanghai Appolo as an example of ad revenue, an obvious ploy to anyone but the ignorant since they were such a poor company; and their National advertisers were blatant lies they were trying to cover up; since they are actually using pictures of print ads on un-airconditioned buses from the pre WW2 days, trying to run videos on what are actually old 8 track players the bus drivers use to play old repeats of Hollywood Squares on; and they play these to a materially low-class uneducated, coal miner type of half-breed consumer who makes about $.10 a week.
While this is just a scathing simile of the type of arguement which successfully trimmed a Half-Billion from the market cap of a company yet to have been proven doing anything wrong, and which a top 4 accounting firm had confirmed having $150 million in cash in the bank, it is not as far off as you may think.
The consumers: All of us did read and review actual evidence, such as the WCTBILLS Roark like commentary and actual Video evidence of the modern bus lines, with LCD and often dual screens, with original content and well dressed riders, not even resembling lower class or "migrant" type consumers purported by the shorts and Rato as of yesterday.
WE SAW THEM, like we saw the license plates, the Tongshi, the numerous Chinese investors who checked material facts and buses, and finally supported by Ping Luo who put her career on the line by verifying 1/2 of the revenues, advertisers, Starr committment, ongoing Audit and Bank Statments. Even poor Glenn, who's main article was if the Cash was real, so was the company. I've yet to see how a company with verified cash last year of $120 million+ has a market cap of less than half that today, though I have an interesting theory I've yet to see elaborated upon.
The rest seemed to be the type of Muddying of the waters used against ONP. The best reasoning to sell was by Rick Pearsons argument that it didnt matter if the shorts were accurate, just the accusation were enough to kill the value, as with ONP and his scathing article about Andrew Left, his former classmate who he showed with video evidence absolutely outright lied and manipulated the ONP short attack, yet to be proven to this day.
So here's my theory, which I've kicked around since I originally bought in when the stock dropped from $20 to $12 in a day, I only wished I sold my 2000 shares when I had my mom sell hers for a one day $4000 profit the next day.
We all know this is Chi-Com virtually unexplored territory, and WCTBILLS made no bones about that. We all knew anything went, anything and everything had been manipulated and fradulently misrepresented before, and either extremely punished or completely overlooked when and if it fit in the Chi-Com agenda.
Then I remembered Swampdonkeys reviewing the year end company party and the numerous Communist dignataries in attendance, and even the CEO's ties to Govt work,and of course his blatant trumpeting of his "exclusive" with the Govt, and the fast track 1000 to 27000 buses with growth and revenues so explosive that Forbes, Starr, his board member Dorothy with vast investment experience, and Ping bought it, not an ez feat.
So I humbly submit, am I the only one who grew up with Graham Green novels et al, with every corrupt Govt agency in the world, whether in the US with Air America, or Britain and France with some of the largest companies worldwide, Communist Russia with almost every large company ever created, and so on.
Why, with all the Government ties this company had or clamed has none of them come forward, despite the massive accusations, delistings and Multiple Billions lost by Chinese Corps resulting in massive tax losses to the Chi Coms. Could there be a Govt. tie, or top tier govt officials taking profits, dipping their beaks so to speak, or even behind the scenes running this company as a front or something similiar. Why all the secrecy, the joint offices and Board members with Pharmacy companies, the videos of employees lounging around all day, the "free" programming provided by CCTV companies with no real explanation of why they would do that. The CFO with $1 million to buy stock, with an empty office who somehow just walked away, like a ghost. The mysterious, contradictory and non-sense actions of the CEO. The crappy annual meeting and porous web site.
Why, with the publicity this has received has none of these fradulent Ads ever been refuted by the Pepsi Cos, Loreal's, Coke, etc of the world, who would quash any mention of their brands falesly in the blink of an eye.
These are a few of the whys that kept me up at night, but in the back of my mind I certainly trusted the Greenbergs and Pings of the world to know more than I....and of course, when nothing makes sense anymore, whatever is left, no matter how fantastic, must be the truth.
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