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  "documentTitle": "China MediaExpress Holdings (CCME)",
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  "authorName": "Carson C. Block",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2011-02-03 00:00:00",
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  "notes": "The slide uses primary research (surveys) to discredit the company's claims about its client base.",
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      "text": "Three of CCME's Top Ten advertisers are represented by media buyers that have never heard of CCME.",
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      "text": "It is particularly telling that Heartland has not heard of CCME. All of KO's outdoor media buying in Beijing... is done by Heartland. CCME claims to have sales centers in all but three of the foregoing cities. KO spends 20% to 30% of its annual China media budget through Heartland. Yet, the Associate Director at Heartland we surveyed had never heard of CCME.",
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      "text": "Two of CCME's other purported advertisers are also represented by media buyers that have never heard of the Company. CCME claims that Toyota and Lenovo are advertisers.",
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      "text": "The following are the six buyers we surveyed (including the respondents' titles), along with a list of each company's major clients.",
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      "text": "Three of CCME's Top Ten advertisers are represented by media buyers that have never heard of CCME. Note that CCME claims three of its Top Ten advertisers are China Mobile, Master Kong, and The Coca-Cola Company (NYSE: KO).",
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