Hints and tips:
...NQ Mobile, a Chinese software security company that has been in the crosshairs of short seller Carson Block, climbed after it said that its chairman and co-chief executive had stepped down....
...The additional test would be for NQ to furnish the verifying party with an electronic copy of all of its mobile billing transactions from the past month....
...Further Reading: América Móvil teams up with China-US security software maker, beyondbrics NQ Mobile: safeguarding smartphones, beyondbrics...
...NQ makes mobile antivirus and social networking products, and has said its mobile antivirus products have a majority of the Chinese market....
...Hence NQ Mobile’s rush to explain its cash and cash location after its accounting was attacked by Muddy Waters, the shortseller headed by Carson Block....
...Now, NQ Mobile is listed on the NYSE, where it it’s worth over $900m....
...Another popular target of hedge funds, NQ Mobile, gained 4.1 per cent to $13.92 after the company released guidance that beat expectations....
...As Lex pointed out, Muddy Waters appeared to have simply misunderstood the changes NQ Mobile made to its accounting....
...Just last week, NQ Mobile, a New York-listed internet security group, saw its shares tumble 47 per cent in one day after it was accused by short-seller Muddy Waters of overstating its revenue and falsifying...
...Right at the top is this claim: “NQ Mobile is a Chinese company? FICTION.”...
...[Amended to describe the location of NQ Mobile's registration and head offices.] To give you a sense of NQ Mobile’s size: full-year 2011 net income was $10.3m....
...Related reading: NQ Mobile: it pays to be less Chinese, beyondbrics China offers Brits a lesson in manners, FT...
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