What happened to the share purchase by Executives promised back in November? They lied!!!!!
NQ Mobile Announces Senior Management Share Purchase Plan
PR Newswire NQ Mobile Inc.
November 12, 2013 4:25 PM
BEIJING and DALLAS, Nov. 12, 2013 /PRNewswire/ -- NQ Mobile Inc. (NQ), a leading global provider of mobile Internet services, today announced that its senior management, including Co-CEOs Dr. Henry Lin and Omar Khan, COO Vincent Shi, President Zemin Xu, CFO KB Teo, and CCO Gavin Kim, among others, intend to use their personal funds to purchase up to an aggregate of $3 million worth of the Company's American depositary shares ("ADSs") within six months from November 15, 2013, pursuant and subject to the restrictions of, and consistent with, applicable laws and the Company's securities trading policy.
"We consider the recent drop in NQ Mobile's share price to be artificially created by false allegations and we believe our stock to be currently undervalued," commented Dr. Henry Lin, Chairman and Co-CEO of NQ Mobile. "The plan to purchase NQ Mobile shares by the NQ Mobile senior management team demonstrates our strong confidence in the company and reflects our commitment to executing our business plan and delivering shareholder value."
I wonder why NOT ONE executive has bought the company stock? Back in November, they did a press release that their top executives would buy NQ stock within 6 months. But, they never bought anything and the question is why not?