Recent

% | $
Quotes you view appear here for quick access.

Focus Media Holding Ltd. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • matt.berry01 matt.berry01 Mar 22, 2012 12:27 PM Flag

    if carson block has nothing on fmcn

    Of course Bloomberg did not say there were no smoking guns, they cited a hedgefund manager who said that. The quote:

    "“Carson pointed at a lot of things, but what seems to be lacking is a present-day smoking gun,” said Eric M. Jackson, founder and managing member of Ironfire Capital, a Naples, Florida-based hedge fund that invests in Chinese stocks. “It’s a tougher job.” "

    A hedgefund's sloppy due diligence does not take away the smoking guns presented. (A conclusion drawn from solid forensic evidence does not fade away with time; any emphasis on "present-day" constitutes a misunderstanding.)

    1. FMCN clearly inflated their LCD count. They themselves have reduced the previous "LCD flat-panel" display count. The new detailed breakdown adds up to FMCN's confession that the prior counts were inflated and that investors were misled into thinking that cardboard posters were really LCDs. http://seekingalpha.com/article/343191-focus-media-s-explanation-comes-up-short-part-1-the-lcd-count
    2. FMCN claimed a 27,000 urban theater network in a China that only had 1,600 urban theaters. http://www.scribd.com/doc/78114133/A-Critical-Failure-in-the-Focus-Media-Story-FMCN

    ****************
    Also,
    3. To refute MW's claim that the six acquisitions (handset six) did not take place, FMCN needs to supply the names of the corresponding WFOEs and explain how they have practical control of the handset six without having changed the nomimees. Why haven't they done this? http://www.geoinvesting.com/companies/duediligence/fmcn_thehandsetsix12022011.aspx
    4. Add to this the claimed price of the purchases, subsequent massive write downs, and then giving the companies away for no consideration. One of several possibilities: If you lied about your revenue and needed to account for less cash in the bank, this would be one way to do it. But it may be just plain old incompetence. We'll have to wait and see.
    5. Insider sales of over $1 billion.

    See http://www.muddywatersresearch.com/research/fmcn/initiating-coverage-fmcn/