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  "docSlug": "7f8b05d541c7",
  "documentTitle": "Focus Media Holding Ltd. (FMCN)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2011-11-21 00:00:00",
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  "pageCount": 80,
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  "density": "dense",
  "nDataPoints": 12,
  "notes": "Includes detailed footnotes referencing SEC filings and external private equity reviews.",
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      "kind": "callout",
      "text": "We were unable to determine whether any of the ultimate sellers of Allyes were entities that Mr. Jiang beneficially owned, so we are unclear as to his profit on this transaction.",
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      "text": "Profit: $6,570",
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      "kind": "paragraph",
      "text": "Trade II – Insiders Buy 38% of Allyes at the Outrageously Low Price of $13.3 million (Implied Valuation of $35 million), a Discount to Cash Value.",
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      "kind": "paragraph",
      "text": "According to FMCN’s filings, Mr. Jiang was an Allyes shareholder by January 23, 2006, and still owned FMCN shares as of September 18, 2006. We were unable to determine whether any of the ultimate sellers of Allyes were entities that Mr. Jiang beneficially owned.",
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      "kind": "quote",
      "text": "(lxxiv) None of the Company nor any of the Group Entities and the businesses or entities operated or owned by the Company and the Group Entities... own any interest in any entity, or have entered into any transactions that may compete with the Company and the Group Entities... in Allyes Information Technology Company Limited solely for passive investment purposes — SEC Form 20-F Filing.",
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      "text": "Footnotes 72, 73, 74 and associated legal text regarding SEC filings and corporate structure.",
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      "kind": "table",
      "text": "Allyes Trade I (US$ 000s) table showing Insider, Entity Name, % of Allyes, Basis, Sale, Profit, and Profit % for Xiong Xiang Dong, Neil Nanpeng Shen, and Jason Nanchun Jiang.",
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