As always, the flip side of the coin is appreciated. What's more worrisome is that Omar sees NQLive as the holy grail. Quite insane, considering NQ stands a better chance for success hustling fake Segways.
Almost 7300 traded with open interest at 11461. It'll be interesting tomorrow to see +- change in interest.
Considering all the good news released last night and no rise in shares after a 50% slaughter, it doesn't look good for shares near-term.
Loved the part where Carson talks about FMCN and EDU as having a legitimate underlying business model riddled with questionable business practices, whereas NQ Mobile is simply a total fraud.
w_ w_ w _ valuewalk_c o m /2013 /11 /carson-block-nq-mobile/
Largest open interest of any option in NQs life as a public company are the Dec 4 puts. 19628 betting on one side or the other of a $4 stock tells me to anticipate huge swoons round the corner as the story unravels.
Ominous issues persist:
a) What is the true origin of the cash transferred to Standard Charter. Industrial Bank has a history of questionable financing. Was mgt struggling to borrow the piecemeal deposits into Standard Charter? Khan's reasoning behind the small deposit amounts is, "term deposit perspective, as they make sense from a capital management perspective" - makes no sense, a classic baffle with bs story.
b) Is the total NQ software user base inflated by 300%? Mgt is telling investors that they count each user only once, regardless of the number of NQ apps on the phone. The math tells a different story. If you reconcile this assertion to fit the story, mgt would need to count each phone pre-loaded with NQ software as a registered user, and each app installed or pre-loaded on a phone as a unique user - which egregiously inflates the actual user base.
c) Is Yidatong an NQ shell game? The biggest qestion, and if confirmed (and the evidence looks overwhelming), NQ revenues are likely inflated by 70%. Enron's cronies that caused ENE stock to go to zero would look like alter boys next to this potential bombshell.
NQ shares are still up 70% yoy, which is directly correlated to "stellar" 98% revenue and 69% earnings growth yoy. That said, a round-trip to sub $5 is a self-fulfilling trajectory should just one (IE Yidatong) of the three allegations above prove true.
We shall soon learn the truth
= the piecemeal transfer of cash from Industrials Bank Co. Ltd to Standard Charter. Fictitious acct statements are hard to undo, and the small deposits to Standard Charter appears to assert that mgt is scrambling to borrow real money in the gray market to fund these new deposit accts. Furthermore, if accounting fraud is exposed on the balance sheet, it is a 100% certainty that the P&L is embellished too. This is unraveling faster than you can count to zero.
Not quite. So if STX or other party were to come knocking on FIO's door to make an offer today (for example), several days AFTER mgt bought stock at a fire-sale, would they go to jail for saying yes to a $20 buy-out?
Of course not, and only if they were tipped off to a call or trip to Salt Lake City by STX mgt (or other) would your theory apply. Bottom line: The recent swoon in FIO shares price is a primary motivator in not only triggering an insider buying frenzy - but also to bringing STX or others to the table. After all, Woz was unwilling to entertain $20 last year.........but how about now??
Congrats to all longs and call option holders.
Going much higher.
Fortinet unveils ‘world’s fastest’ firewall appliance, teases large partnership news
by Tom Paye - October 22nd, 2013
Network security specialist Fortinet this week used GITEX to regionally launch its new FortiGate-3700D solution, which the vendor claimed is the world’s fastest data centre firewall appliance.
The 3700D is the first product to use Fotinet’s latest NP6 ASIC, which the vendor said delivers low latency and IPv4 to IPv6 performance priority.
The solution also delivers 160 Gbps throughput, Fortinet said.
According to Alain Penel, Regional Vice President, Middle East, Fortinet, the FortiGate-3700D is a key product for the vendor. IDC currently ranks Fortinet as the Middle East’s number-three vendor in the security market, he said, adding that he hoped the 3700D would propel Fotinet to number two by the end of the year.
“We’re close to the second one, Juniper Networks, now,” he said. “Most probably, we will be second in this market by the end of the year.”
The new firewall isn’t all that Fotinet has up its sleeve for GITEX 2013, however. Later this week, the vendor plans to make a string of announcements to do with high-level partnerships and big customer wins.
“We’re extending our product range, our partnerships and our geography, and we’ll be talking about all of this at GITEX 2013,” said Penel.
In terms of its channel, Fortinet is using GITEX to make partners aware of its new tiering system, which now includes Bronze Plus – a Bronze-level partnership aimed at specialised partners.
“Bronze Plus is a partner that we want to certify and to certify on different technologies,” Penel explained.
Meanwhile, a large, UAE-centric partnership is set to be announced this week, Penel said, without giving too much away. All he let loose was that the vendor would be entering into a partnership with one of the country’s service providers.
“We are going to announce one big partnership in the UAE – it’s a big announcement with one of the two service prov
10/17/13 09:47 Wunderlich maintains Ubiquiti Networks, Inc. (NASDAQ: UBNT) with a Buy and raises the price target from $40.00 to $46.00. After attending WISPA conference, Ubiquiti Networks secular growth story remains intact.
for almost 10 straight years!!!! Good riddance to those infamous series H convertibles that were just retired with the 40 mil share exchange. Hmmmmm. that exchange saved the company $120 mil over 10 years. I suppose RAD can affford to pay CA on the fine. Freaken Greenpeace lovers, only in Cali.