Fri, Dec 19, 2014, 9:04 PM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

NQ Mobile Inc. Message Board

  • nusaiba nusaiba Oct 29, 2013 8:33 AM Flag

    Sorts are doomed now !read why?

    NQ Mobile (NYSE: NQ) announced that it has completed the process of transferring to a bank account opened at Standard Chartered Bank (the "Standard Chartered Account") approximately RMB 100 million (or USD $16.4 million) of NQ Mobile's term deposits that were formerly held at Industrials Bank Co. Ltd (as previously detailed in a news release issued on Friday, October 25th).

    The account was opened today and the initial term deposit of approximately RMB 100 million (or USD $16.4 million) has been transferred to the Standard Chartered Account. The remaining portion of the approximate USD $100 million to be transferred will be processed soon. The Company has authorized Standard Chartered Bank to allow an independent verification of the account validity and provide related details to any interested investor who requests the information in good faith. As a result of transferring term deposits to the Standard Chartered Account, NQ Mobile will forfeit certain earned interest and will provide further updates on the financial impact on the Company's Q3 earnings release scheduled for November 12, 2013.

    Dr. Henry Lin co-CEO and co-Founder of NQ Mobile remarks, "We remain diligently focused on running our operations and our entire organization and management team is extremely committed to financial transparency. An important step in this process is earning the complete trust of anyone seeking to validate our cash positions. Our actions speak louder than anyone's words and all other arguments and falsehoods fall by the wayside as our cash position is completely and independently verified. We will vigorously defend our company and our products for the benefit of our partners, our customers, and especially our shareholders."

    Following the transfer of the aforementioned term deposits, expected to be completed soon, the Company will also maintain its existing account with Standard Chartered Bank and HSBC in Hong Kong where the proceeds of the recent convertible bond offering,

4.09-0.940(-18.69%)Dec 19 4:09 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.