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Weatherford International plc Message Board

applengineer 61 posts  |  Last Activity: Apr 19, 2016 11:28 AM Member since: Jun 23, 2010
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  • From top 10 grossing to zero - no more iOS iPad top grossing social network ranking for Congo to rant and rave about - TOS violation ala NQ/Feiliu MDM? This is not a unified platform transition. Check it out for yourselves.

  • applengineer applengineer Apr 7, 2016 6:19 PM Flag

    appll, comeo on now - didn't you hear Bison is waiting for Shenzhen Liantronics to do a much bigger PIPE-sham with AMCN before they bail? How do you expect them to get back to even?

  • their $425mil fairytale valuaton of FL (line 6, page 44 of 20-F released last night) - and of course, NQ shows their intent to minimize fair disclosure by burying it in a 20-F one-liner in stark contrast to the dazzling press release issued at the announcement of Bison's 5% equity stake. Business as usual with all-things-NQ.

  • Stick a fork in the pork.

  • Sell 5% of NatSky to Guorun at $500mil valuation, rescind, then sell NatSky for $80mil. Same's happenin with FLMobile. Rinse and repeat!

  • that $NQ 's $650mil FL buy-out valuation is a sham! The one-liner buried on line 6, page 44 of the 20-F filed tonight is an ominous sign of impending cataclysm, with Vinnie's promise to buy a 22% stake looking more like a cover-up sham in NQ'esq style and prose - No way for any reasonable shareholder to phathom a $650mil FL deal going through.....NO WAY!
    NQ shares are poised drop like a hot pan-fried pork dumpling.

  • applengineer by applengineer Mar 31, 2016 3:46 PM Flag

    Should be a good read for shorts. Good luck ya'll.

  • applengineer applengineer Mar 31, 2016 11:35 AM Flag

    A real analyst would be negative: Mgt shouldve planned 20% NQ ADS buyback to reduce sharecount to enhance EPS - not this crazy 20% dilutive so-called "investment in confidence"! On the other hand, after three BBs, who'd believe them?

  • three $13 reiterations since then. Jun & Matt were ex-colleagues at Wedge, so would you expect any less of a pump. What's outlandish is that Jun says the following: "planning to buy 20% NQ stake should be viewed as a positive since the management team is trying to bundle their interests with investors". Wow, is there any more doubt that he's working with the NQ Dream Team? After all, Matt and Jun were ex-colleagues at Wedge Partners.
    This is what a transparent analyst would've said: NQ mgt should've planned to buy a 20% stake in ADS (commonly known as a share buyback), so as not to dilute US shareholders by 20% and reducing outstanding sharecount in the process, thereby enhancing EPS.

  • applengineer applengineer Mar 30, 2016 5:57 PM Flag

    No Chadiot, just refuting truthandjusts lie about open-market purchases as it pertains to Vinnie's SPA scheme.

  • Khan made a passionate plea (from the official transcript of Dec 21, 2014):

    "With that, let met touch on a couple of points directly to ensure that we leave this conference call tonight with expectations aligned properly on a couple of key items. First, we have talked about our desire to buy back stock and there is an expectation that we do that. We remain committed to buying back stock when we can, we could have authorized a big buyback today and included that authorization in our announcement. However, given the developments announcement earlier today regarding FL Mobile, the material information specific to the FL Mobile transaction that remains non-public and the ongoing process associated with finalizing and ultimately closing this deal, the Board and the management team with council from our legal representatives and auditors has determined that the trading window for the company, its executives and founders will remain closed for purchases as well as sales until the FL Mobile deal is finalized.
    Instead of authorizing and announcing a buyback plan that we cannot execute until the FL Mobile deal closes, we are transparently describing the situation and decision to you and we will authorize and announce specifics when we are able to execute against it.
    Let me be clear, the commitment remains because it makes sense and we will do it as soon as we get the legal Green Light."

    Not only did Omar lie about the so-called black-out period where a buyback was supposedly legally impossible, but 2 days later announces an $80mil buyback agreement to supercede the $35mil buyback already in place! Then two weeks into January, NQ announces the successful buyback of 2.7mil ADS. With NQ execs vehemently exercising their RegFD exemption privileges at will, Vinnie had every opportunity to do the same on Tuesday's SPA announcement. In fact, by diluting NQ equity to acquire classA shres, Vinne seems to be telegraphing a dislike for American Depository Shares and buybacks. Why?

  • 3/31/15 filing. There should be plenty of red herrings. Among other things, look for a Bison FL Mobile rescission.

  • Nothwithstanding 20% equity dilution from the SPA announcement, troubling would be an understatement to the fact that Vinnie wants to issue new Chinese A-shares rather than buyback existing American Depository Shares.

  • Reply to

    As usual, NQ pundits are living la vida loca

    by applengineer Mar 28, 2016 11:37 AM
    applengineer applengineer Mar 28, 2016 6:45 PM Flag

    Tommyboy, you're so blinded by NQ's lies that you lost the sense of self-reasoning. For the last time, if Tsinghua really wanted to buy FL - they would've taken a stake in the FL for cash - end of story. Gansu/Tack Fiori RTO's, A-share listings, Vinnies propaganda stake - are all ruses. The only real "skin in the game" if you will was Peixin's Bison group who took a 5% stake in FL for $25mil - but sadly by the looks of the balance sheet mezzanine equity line (posted last week), they seem to have exercised their right of redemption. We should hopefully get some clarification if NQ files their 20-F this week. But making matters worse for your bull-case in favor of FL's to-the-moon $600mil valuation, you would have to ponder the question: why would Bison rescind their investment in FL if they were expecting a fat dividend? And by the way, Rongda (a tiny affiliate of Tsinghua) is supposedly the $600mil FL buyer - so this is not a "Tsinghua visavi Micron" deal - pumpers need to stop talking up Tsinghua as the buyer.

  • Vinnie is forced to buy a 22% "propaganda" stake in FL Mobile because Tsinghua can't figure out how to buy FL Mobile?!?! Tsinghua needs to put up the money or get out. Did everyone forget the 5% ($25mil) stake bought by Peixin's China Bison (not USA Bison)? Well, it looks like Bison may have exercised their right of redemption (mezzanine equity stake was wiped off the balance sheet from last week's ER). More to the point: Why would Bison take back their money if FL Mobile's going to sell for $600mil++? I think we'll see NQ bury this news in a one-liner like they did on the last 20-F with Beijing Guorun's redemption of their 5% ($500 mil valuation) Nationsky stake. We'll likely find that and more dirt when NQ files their 20-F in 3 days.

  • If Vinnie didn't lie (along with Henry) about their humble (cultural revolutionary) ways, he couldn't possibly have USD$135mil tucked away under a mattress to keep FL Mobile's $600mil+ fantasy valuation in play. So how much of RPL's 50 million shares did they end up gambling on margin? Remember, Chinese co's are not required to disclose collateralized stock obligations. What happens if NQ stock implodes in the future?
    The biggest question: With three failed FL Mobile equity deals (Tack Fiori, Gansu, and Bison), where's the Great Tsinghua? This PR statement looks like a lie-in-progress:
    August 26, 2015 - Pursuant to the FL Framework Agreement, the Company, along with the other existing shareholders of FL Mobile Inc. (the "Existing FL Shareholders"), have agreed to sell to Beijing Jinxing (a subsidiary of Tsinghua Holdings Co) the entire stake in FL Mobile Inc. that they currently hold for no less than RMB 4 billion (or approximately no less than US $626 million)[1], with the final price being subject to the valuation of an independent third party valuer.
    Why is the most important element (the sensational Tsinghua) missing in action as the entity that comes up with the money to finance all of these failed deals? In fact, if today's announcement isn't murky enough, ask yourselves the simple question:
    Why didn't Tsinghua use their $billions to buy this "tiny" $135mil stake (let alone the entire deal with cash)? Why pick Vinnie to put skin in the FL Mobile shell game, a humble guy who supposedly hasn't sold NQ stock and earns a meager salary at NQ Mobile?
    This has the looks and feel of another NQ shell game. Any investor who cares about their investment should call Matt and demand that after 8 months posing as the "FL Mobile buyer", Tsinghua needs to either "put up cash" or "shut up and get out".

  • What did you expect from these two Wedge Partners ex-colleagues? Matt is already embroiled in Selby's lawsuit against NQ Mobile for allegedly making misleading statements via tele-conference and email - so talking up NQ Miobile with his ex-colleague in the same manner would be no surprise. But more to the point, review some of Rosenblatt Zhang's remarks:
    1) August 27, 2015 - "We are raising our price target to $13 on multiple factors: a solid quarter and guidance, over $10 net cash per share after FL Mobile and NationSky close, a fast growing Showself business, and a valuation of Showself business at $350M based on 20X 2016’s net profits and $900M net cash," Zhang said.
    2) November 19, 2015 - Rosenblatt analyst Jun Zhang reiterated a Buy rating and $13 price target on NQ Mobile on expectation that three asset deals will go through in the next 2-3 months, along with better than expected performance of the Showself business.
    3) March 23, 2016 - Analyst Jun Zhang commented, "Positive earnings report overall, and as long as Tsinghua Holdings continues working with NQ, they should achieve their goal of divesting the FL Mobile business this year.
    So Zhang went from "imminent divestiture of FL Mobile in November 2015" to "sometime in 2016" - no credibility. While Zhang may have very high regard for NQ Mobile, pixiedust and all - beware of this sell-side agenda.
    (For yesterday's newest bagholders: I know all-things-NQ since Oct 2013)

  • applengineer applengineer Mar 23, 2016 12:33 PM Flag

    This guy looks more like an NQ groupie than a research analyst:
    a) August 27, 2015 - "We are raising our price target to $13 on multiple factors: a solid quarter and guidance, over $10 net cash per share after FL Mobile and NationSky close, a fast growing Showself business, and a valuation of Showself business at $350M based on 20X 2016’s net profits and $900M net cash," Zhang said.

  • applengineer applengineer Mar 23, 2016 12:22 PM Flag

    What did you expect from these two Wedge Partners ex-colleagues? Matt is already embroiled in Selby's lawsuit against NQ Mobile for allegedly making misleading statements via tele-conference and email - so talking up NQ Miobile with his ex-colleague in the same manner would be no surprise. But more to the point, review some of Rosenblatt Zhang's remarks.......

  • Who's puppetmaster and puppet?

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