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Subject:  Sean - CNYD question Date:  5/14/2012  7:17 PM
Author:  wouter28 Number:  225 of 236

Hey Sean,

I am not sure if you follow this board anymore, but if you do, do you have any current thoughts on CNYD? I posted my thoughts on 2011 earnings and was not too excited about 2012. So far Q1 did not disappoint in terms of continued poor performance. The media business continues to taper off and the less profitable tourism business is not recovering very quickly. I am a little concerned to see that gross profit of the tourism business took a hit due to higher depreciation expense. In my last post I mentioned that I would not consider buying until the end of 2012 or early 2013 as I did not expect much out of the company operationally, however I did throw out the caveat that a sub $1 price might get me interested in buying more. I am a little concerned that they changed auditors again. I looked at the auditor's website and was not impressed.

All these negatives sour me on the stock, but the price is now ridiculously cheap compared to the business operations. I am a little surprised to see it below $1 when the CEO bought $250K of shares at $3 6 months ago and Pope investing more around $1.75 a couple of months ago. I'm thinking of buying soon as this stock should be valued much higher than sub $1. I still like the business model and think this could do very well in the long-term. Are you still following the company and if so, what are your thoughts on the operations vs the stock price? Thanks!
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