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CCME turned out to be real!

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17

April 01, 2011 – Comments (16) | RELATED TICKERS: CCME.DL

April fools, its at $.0001

16 Comments – Post Your Own

#1) On April 01, 2011 at 3:29 PM, TMFBabo (100.00) wrote:

What do you think of the action? ONE trade at $0.0001? That seems fishy to me.  I thought we'd see mass selling (at a slightly higher price) or no trading at all until it moves to the pink sheets or something.

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#2) On April 01, 2011 at 3:43 PM, Valyooo (99.53) wrote:

Yeah, that is really weird.  The volume should have been really freaking high if trading resumed, with people rushing for the exit.

I am very confused.  Even though I am almost certain this company is a fraud, if I could buy it at .0001 i would pick up $10 worth.  The people that are convinced it is not a fraud could easily bid it back up to 50 cents, netting me $50,000 .

I don't really understand what is going on, but I did earn 102 caps points from it and finally got a bankruptcy charm (score!)

Hey babo while you are here, do you have any opinion on BDGR?  Their unaudited balance sheet (key word is unaudited) shows they have equity of 4x their current share price of .0001.  My friend called their management.  Old management diluted the hell out of the stock, new management is buying back shares.  I bought $250 worth at .0001 for the speculative part of my portfolio.  I am looking for like a 5 bagger.  This usually is not my forte, I can't analyze small cap oil companies, but you can.  So, if you are interested, check it out and get back to me.

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#3) On April 01, 2011 at 3:48 PM, smartmuffin (< 20) wrote:

Yeah, that's just what I was thinking.  I'd buy anything for 0.0001.  Even if it turns out to only be worth a penny, you just had a 100x gain!

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#4) On April 01, 2011 at 4:01 PM, binve (< 20) wrote:

Yeah, that's just what I was thinking.  I'd buy anything for 0.0001.  Even if it turns out to only be worth a penny, you just had a 100x gain!

Kevin: If anyone gives you 10,000 to 1 odds on anything, you take that bet. If John Mellencamp ever wins an Oscar, I will be one rich dude. 

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#5) On April 01, 2011 at 4:36 PM, cthomas1017 (93.96) wrote:

OK, I've successfully pulled off 7 serious fools' jokes today and had prided myself on not being gotten.

Had you placed the detail a couple of lines down, I would ahve clicked on it and you would have completely OWNED me.  Thank God for small miracles.  My run rate remains intact!  But +1 rec for hte thought, for sure! :)

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#6) On April 01, 2011 at 4:41 PM, SockMarket (46.22) wrote:

hehe. nice.

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#7) On April 01, 2011 at 6:14 PM, TMFBabo (100.00) wrote:

This would be a Ben Graham style play...and in those plays...the more liquid the asset, the more valuable it is.  Cash is king, then receivables, then inventory, then PP&E.  Black Dragon's assets are almost all PP&E and a tiny splash of receivables. 

They seem to be profitable based on a quick look at the press releases, but I bet they have no cash because they keep using it to drill more wells (or operate existing ones). Small operators with little cash and a lot of acreage usually go into JVs or farm down their interests.

If you want to get to the nitty gritty of oil and gas, you probably need F&D (finding and development) costs and lifting costs, the amount of acreage they have, spacing between the wells, the amount of oil or gas they expect to pull out of each well, etc.  If some wells are developed and some aren't developed, there are different things you can calculate there.

If you want to go simpler, you can go with a sum of parts valuation, but it's hard to value reserves or acreage without knowing how much they actually own.  The latest financials only have 2009 figures.  Quite a lot can happen in 12-18 months, so I don't trust any of their figures. 

I think I'd want to see a lot more before investing in this company long-term.

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#8) On April 01, 2011 at 6:47 PM, Valyooo (99.53) wrote:

Yeah, I will probably regret it.  But I mostly bought it because they are buying back shares, which I figured would bump it up slightly

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#9) On April 01, 2011 at 9:01 PM, guiron (20.31) wrote:

BING BONG!

A real trade would be pretty difficult to cover from where I started my short above $10 all the way down to mills. Just covering my short would send it higher, if I could borrow the shares to enter the trade in the first place. I understand Tim Sykes is pretty good at sniffing out places to borrow shares, but as for now I am not sure if shares actually traded or if that  $0.0001 price (purportedly at one share volume) "printed" due to some other decision outside of shares being traded.

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#10) On April 01, 2011 at 9:06 PM, guiron (20.31) wrote:

I think I'd want to see a lot more before investing in this company long-term.

I am not thinking this is ever going to be the kind of company one invests in. Maybe trade, if it ever trades again.

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#11) On April 01, 2011 at 9:20 PM, guiron (20.31) wrote:

They seem to be profitable based on a quick look at the press releases, but I bet they have no cash because they keep using it to drill more wells

Uh... are you thinking of a different company? CCME is a Chinese media/advertising business with dodgy books. Unless you know something I don't and they own oil wells, I don't think they have much of hard assets, in which case they might actually be worth something. But I can't find anything about that.

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#12) On April 01, 2011 at 10:48 PM, mhy729 (33.22) wrote:

Babo is answering Valyooo's question in comment #2 re: BDGR

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#13) On April 01, 2011 at 11:09 PM, goldminingXpert (29.53) wrote:

At $0.0001, CCME is finally undervalued! I can join the bullish parade, as I think CCME is worth at least a few cents!

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#14) On April 01, 2011 at 11:38 PM, guiron (20.31) wrote:

Babo is answering Valyooo's question in comment #2 re: BDGR

Ah OK

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#15) On April 02, 2011 at 12:46 AM, HarryCarysGhost (99.72) wrote:

At $0.0001, CCME is finally undervalued! I can join the bullish parade, as I think CCME is worth at least a few cents!

Bout' time you turned... :)

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#16) On April 04, 2011 at 4:46 PM, buffalonate (94.98) wrote:

So there was no business at all?  I just assumed they were exaggerating the numbers but were they a total fraud?

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