China MediaExpress (CCME) Resumes Trading on the Pink Sheets, Other China Reverse Merger Stocks To Face Similar Fate
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After being halted for more than two months on Nasdaq on alleged fraud, shares of China MediaExpress (OTC: CCME) have resumed trading on the pink sheets today.
The last trading in the stock was on March 11th before the stock was halted at $11.88 per share. Currently the stock is trading at $3.80 per share on the pink sheets.
Questions with corporate governance and cash balances forced the company's auditor to resign in March which later led to the NASDAQ indefinitely halting share and de-listing the stock.
A number of other China-reverse merger stocks remain halted and face de-listing on NASDAQ and other exchanges over possible accounting issues. Some of those stocks include: China Agritech (Nasdaq: CAGC), ShengdaTech (Nasdaq: SDTH), Duoyuan Global Water Inc. (DGW), China Integrated Energy (Nasdaq: CBEH), Wonder Auto Technology (Nasdaq: WATG), Subaye, Inc. (Nasdaq: SBAY), Puda Coal (Nasdaq: PUDA), Universal Travel (NYSE: UTA) and Longtop Financial (NYSE: LFT), among others.
The last trading in the stock was on March 11th before the stock was halted at $11.88 per share. Currently the stock is trading at $3.80 per share on the pink sheets.
Questions with corporate governance and cash balances forced the company's auditor to resign in March which later led to the NASDAQ indefinitely halting share and de-listing the stock.
A number of other China-reverse merger stocks remain halted and face de-listing on NASDAQ and other exchanges over possible accounting issues. Some of those stocks include: China Agritech (Nasdaq: CAGC), ShengdaTech (Nasdaq: SDTH), Duoyuan Global Water Inc. (DGW), China Integrated Energy (Nasdaq: CBEH), Wonder Auto Technology (Nasdaq: WATG), Subaye, Inc. (Nasdaq: SBAY), Puda Coal (Nasdaq: PUDA), Universal Travel (NYSE: UTA) and Longtop Financial (NYSE: LFT), among others.
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