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.
Guys until NQ produces F-20, everything NQ has said is questionable. Period....
You are too trusting I was there few months back, but PPS and lack of action/direction by NQ says otherwise. They have #$%$ away last 8 months doing nothing.......
No one else, Since the DD june 4th, future / Direction/ PPS of NQ is in the hands of NQ, Only they can save the company. They can no longer keep blaming shorts MW or anyone else. Market has given them a clear message, give us an F-20 yet NQ keeps making excuses for itself. Its time we heard from the BOD what they intend to do to get this piece of paper out in the next few day..How hard can it be if the DD is to be trusted..Or is NQ really hiding something..We need an answer , a direction, A path to the future.. These are NQ's words, so take a course of action that will show us that NQ can be trusted..
GDX, they have changed so many horses , i mean directions to keep the focus away from F20, and at each turn it has bit us and NQ in the #$%$, how low do they want to see the PPS. I dont think they care, in fact i dont think they know how to solve this issue..Well we have waited since Jan, i suppose we can wait for another 3 to 4 months..
Kanji, I have seen some of your despaired messages.. Man this thing has to blow soon, NQ mgt still dragging their feet..
Yes very likely it will go lower, this company is done, fried, toasted, finished, management just lies and hides things..
don't be so convinced, time is telling, If NQ DT was so clean then why not tell PWC to go ahead and audit what ever the hell they want IN NQ..So ask yourself what is taking the time..
that means that most of the other institutions have sold out also. Only bag holders left who take pleasure even on these simple SA type articles. Wait for 13g's to be filled by Oct 2014..
NQ does not need shareholders approval to Sell, NQ hold 70% of the voting power, so they can make the call with out asking holders..
when most of the longs on this board are 60% down, all because we believed in the PR's. company lied and they continue to do so. SO we have a right to Whine. SO what is your avg mr Sunshine.
Thai, this is lot of BS, that is what i used to tell every one back in May, now we are in july soon it be september . For God sake ask the question if DT cleared NQ and yet stock at 4, and no F20 in sight, this says that NQ knows DT did not come out clean otherwise NQ would have told PWC to go look at what ever they want to, but they have not.. They have lied to us three times on the F20 and now new BOD are studying the situation and they too dont know what to do. It does not take a rocket science to tell PWC go do extended Audit if DT is clean..
It may be, buy NQ was suppose to be doing the audit since January, and on top it they have been lying to us on it is being worked on worked on worked on, and then they drop a bomb shell on us again and again. I am getting more than upset at people who keep telling me that DT cleared them, Yes i believe that too, but then what the hell is the big deal for NQ to go let PWC check out the whole firm. If they had done that we would have had the F-20 by now .. Since that is not happening and they keep lying i have to think that they are some serious issues and we have been led to believe otherwise..Most of us are losing 60 to 70% of our investment so we have the right to say what the hell we want and expect some answers and lot more transparency in this whole matter.. And so should you, quit paint a rosy picture..We have waited too long......
All well and good, so where is the urgency from the NEW board members, stock has tanked since the day were appointed, atleast do something that takes the stock back to the day came on board. Dont get me wrong, I believe in the company but lack of action is killing the company and us longs while shorts are having a field day at our expense..
One more thing, i buy the fact that DT cleared NQ, but market does not give a damn, look at the pps. Now let me ask you , if we are clean, the game how it is to be played should be in NQ's hand, but that is not how it appears, we can not seem to move forward on the AUDIT. What do you think is holding NQ back since we all believe NQ is clean, why not let PWC do the damn work and get the F20 out, We have been waiting for 7 months now..
of the stock market. Idiots that were running the company did not know what to do, New clowns added have done nothing to show that are any better. Hopeless situation...
Kenji, this pig is just not going to hunt, We are sucked in, trapped and no exist sign. And nq is exactly what it always has been, non responsive, mismanaged, but then again i should have known better what can you expect from a 200 million dollar Chinese company..Management has never been China's strong suit and i kick myself for that. Yes there are days, bailout seem feasible, then there is time when we think may be mgt will do something smart..For now hopeless and wiling to wait to see what the hell these guys will do. All most two weeks and no decision on expand audit or not.
If NQ is Legit then one or the other outcomes will happen.
Possibility 1: Some one will buy NQ, because the buyer will not LET NQ go under because. Main two reasons being, buyer will not want to go through the IPO process, and beside NO one will touch it again. As for the PPS, it will go between $8 to $12 considering current PPS. The other thing this will save the new buyer from having to go through the entire 2013 validation , they can just do the F20 for q4 of 2013 and have PWC validate the financial tracking system and the money in the bank..
Possibility 2: NQ will agree with PWC on the expanded Audit with a defined SCOPE OF WORK, it will not be an open ended, take you time PWC. As for the scope, I believe that will be, go ahead and validate the entire 2013 year financials, and go over the missing devices mentioned in the DT, assumption being that DT verified those missing items though third party or what ever means and documented each missing case.
There is no other possibility....