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NQ Mobile Inc. Message Board

  • jtschett_rmt jtschett_rmt Apr 10, 2014 5:16 PM Flag

    A BIG FAT MISS!!!

    A BIG FAT MISS!!!

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    • In its earnings release co stated, "In the fourth quarter of 2013, the Company identified an accounting overstatement relating to share based compensation expense in the unaudited financial results for the three months and nine months ended September 30, 2013 as previously reported in the Company's quarterly result announcement on Form 6-K dated November 12, 2013. This overstatement resulted from two clerical errors in the calculation of the share-based compensation expense and caused the overstatement of the share based compensation expense in the unaudited financial results for the three months and nine months ended September 30, 2013. Therefore, the Company has revised the unaudited financial results for the three months and nine months ended September 30, 2013 to reflect the impact of the correction."

      "Correction of the overstatement in the Company's unaudited interim condensed consolidation statements of comprehensive income for the three months ended September 30, 2013 resulted in a reduction of $369,624 in the amount reported for general and administrative expenses and correspondingly resulted in a reduction of $369,624 in the amount reported for net loss attributable to NQ Mobile Inc. and a reduction of $0.0013 in the amounts reported for both basic net loss per share and diluted net loss per share attributable to NQ Mobile Inc., as compared to the amounts reported in the Company's previously announced quarterly result on Form 6-K for the three months ended September 30, 2013. Correction of the error in the Company's unaudited condensed consolidated balance sheets as of September 30, 2013 resulted in an increase of $369,624 in additional paid-in capital, as compared to the corresponding amounts reported in the Company's announced quarterly result on Form 6-K."

 
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