Maybe we get a PR tomorrow morning that PWC had finished it's required expanded audit and released an unqualified opinion. NQ just wants give share holders a big surprise.
I am also interested to know where you get this information about "all four quarters of 2013 were audited"?
Bingo, I had exactly the same feeling. DT is No.1, Pwc is No.2 as of today. NQ wants to be super clean but they apparently have less sense to balance it.
Good question. They can buyback using company's money, they can buy shares using their own money, but they didn't. When MW raise this question, they said what? They skipped the question just like MW never asked and market never heard this question. How convenient!
I am just wondering what if DT required to expand their scope and wanted another 6 months to audit NQ's 2013 20F. Will PWC feel happy?
Exactly. Only 20F matters at this moment. I hope Monday we will have a concrete plan from NQ management if they really hold a meeting this coming Sunday. I cannot believe PWC wants go over every items/details and every procedures DT had in 8 months, what kind of "expanded" scope PWC is looking for? How many percentage of their "own work" under duty has completed before asking for this "addition work"?
I have to say the company doing this in purpose in order to crash the stock price and destroy market confidence. They know market wants clarity while they put more oil in fire. Very frustrated.
Very good suggestion. I also hope NQ can release a PR with transparency and concret plan how to deal with PWC and 20F next week. They have a long weekend. I cannot believe that they have been "considering" PWC's request for a month without concret plan. That would move the pps to low 10 level then waiting for 20F out.
They need do something to restore market confidence instead of destroy it.
“As the Commission is well aware of, many so-called "investment B.L.O.G.S" have been used by known short sellers to manipulate prices resulting in illegal and unfair profits to short sellers. A perfect example of this is the current controversy between NQ Mobile (symbol NQ) and Carson Block of "Muddy Waters Research". Mr. Block has made unsubstantiated, false and defamatory comments about the company resulting in a severe drop in the stock price as well as 2.4 million dollars in costs to the company for defense of their business. Mr. Block is known for taking short position in companies and subsequently publishing articles designed to drive stock prices down resulting in substantial profits for himself as well as others short sellers which he has enlisted in his efforts. When companies attempt to file litigation against him, it's found that he has no address for service and no listed home address. These practices clearly fall under the category of illegal manipulation of stock prices and should be dealt with on an immediate basis. The damage to investors is quite clear and to date, it appears that the commission has not had the ability to remedy the situation. It is well known that the Commission is laboring under budgetary as well as staffing limitations and a re-prioritizing should be considered to deal with these types of behaviors that consistently damage the investing public. Changes in the Short Sale reporting requirements would begin to deal with these problems. ”
" because of the location, the cost of verifying the sums involved outweighed the value of conducting the procedure."
Sounds like the error caused difference is even less than the travel cost. Should be less than 10% I guess.
Is it the maximum pain point?
I don't know what is missing but I do delete and create files almost every day on my personal computer. If you ask me why I deleted them months later, I may not be able to give you an answer make you believe it is credible explanation. I may not be aware some of those changes cannot tell if it was made by my children or wife. Sometimes I myself even do disk cleanup or defragment to increase computer performance, that will also change the hard disk image. And I know browsers and other applications may do create and delete temporary cache files or cookies all the time by themselves. I cannot give you a credible explanation when and why and what and who, etc.
Bribing is everywhere during business practice - heard US oil companies spent billions in lobbying? Will SEC claim that is illegal? Did oil companies put all these sneaking spending in F20? When your AT&T phone card got expired, whose pockets did this remaining money split and go? Will MW challenge AT&T to detail and audit each and every revenue sources?