I second that, thank you nq for finally waking up making this hard call. I wish you had done that may 15th
Friendship in China means a lot, this is one NQ did not see coming and they as well as longs paid dearly, the old lady could not make this call, now BOD member did. It is better that we are done with PWC. I would like to know the time frame for the audit completion. For size NQ should be less than 6wks to 8wk max..
I Just shorted at 5 so should you, made my 10cents, every short needs to double triple here. free gift man
I looked at #$%$ as Kanji Said, that was K10 not F20, K10 is very different to F20, F20 requires far more work. I hope NQ made it clear to the new auditors that this is a 6 wk exercise and not 6 months. or else we will get delisted.
Betsy and Kanji, I wish NQ did this sooner, worst is behind us now, we do need someone like Altimeter to come and start buying. Shorts sell out will not bring the price back up to 10 or so..And Kanji, the guys who are making money are the new guys who came in after it dropped below 5. As you said Good luck to them.. But trust me there are not too many of them and even here knowing the history of the stock, not many retail investors who will have the guts to jump in..We are here cause we have been watching the show for a while. So as Betsy said, lets wait and see. Not adding any more. I will stick with what i have and wait for 20
This is where altimeter comes in and buys their position back
i wish i had money, but even then it takes balls to add since i am already spent out so i will stick with what i have. Big question is will new auditor just do the Q4 2013 audit or whole of the 2013
I say wait, let the price settle today and then think of adding..For me I am staying put no additions here. More importantly we need to ask how long will this play out and when will we see and F20 now. I hope it is not 8 months.
I dont expect any news to come today, may be by Wednesday next week we might here from the NEW BOD on Audit..
I wish company would listen to you and act accordingly, but delays upon delays are not doing anyone us any good .. only shorts are having all the fun. I did go back and read all the PRs again, they all sound credible, but PPS make one wonder so who is manipulating the stock to this extent and what do they have to gain from it. With price so low and below 5, most of the longs are now cash owners of the stock. Most if not all of the week hands are out. Which only leaves shorts, most of these i am sure by now would have cashed out if they have not they are idiots. looking at the last three days, Volumes have dried up, what little buying is happening, not sure if it is just the bottom feeders or MM moving shares around. My take from all of this is (assuming NQ is Legit) and they have not lied, then either in very near future we see a private buyer coming in with a credible offer, which would be in the range of 1.8X 2013 revenue since their EPS is negative. Or NQ comes up with a clean bill of health whihc as we stand at present seem unlikely since PWC has asked to look at the whole of 2013 and that is not happening any time soon since mgt has not decided on that..So I am all for a buyout in the 10 to $15, which again is a bad move for NQ, with their growth projections and clean F20 this stock could easily recover its lost ground and more. Hence I agree with TOPIKA target price.
NQ not able to get the F-20 done.. Trumps all that you wrote.. It is the easiest thing to do yet NQ can not seem to get it done in 8 months what normally takes 2 wks to do...Do let us know WHY?
I tend to agree, but this raises so many questions, why would you want shorts profiting from this and why punish longs, and what happens to all those institutional buyers, they must have some leverage with NQ, so why would they let small company bully them around with this price action. Or can NQ or someone do that and get away with it. Can potential buyer be buying the shares as the PPS is driven down , may be this buyer has already picked up all the shares in the open, in fact he may have picked up more than the whole float. And once he decides to bu the company at 15 to 20 dollar range, shorts will be wiped out plus the buyer get the whole of company for the cash NQ has in the bank, i.e zero investment from the buyers pocket.
They have really conditioned us to think that now we are willing to except even lover PPS, Truth when will we learn that NQ has no sense of urgency and have been playing us longs since last Oct..
Here is an extract fro their July 3rd PR
In addition, following the June 4, 2014 release of the summary findings of the independent investigation conducted by the independent Special Committee of the Board, the Company's independent auditors, PricewaterhouseCoopers Zhong Tian LLP ("PwC"), communicated to the Company that it would need to perform additional procedures and expand the scope of its 2013 audit work. The Company's Board and Audit Committee are considering PwC's request. The Company will provide a further update when available.
I know you want us to focus on the F-20 but that is what market wants, otherwise we keep getting thrashed left and right. and we have become punch drunk. Now you tell me NQ has known of this issue since June 4th, and management is still considering PWC request. Please explain what the hell are they considering and for how long will this consideration go on.
There has to be end to this, it has gone on for far too long. And this is the reason why it makes people think that NQ has something to hide..Would it not be better for them to be more transparent knowing the current situation. We are not asking for something unreasonable.