yes this is what the attachment said.
NQ Announces Receipt of Non-Binding Proposal to Acquire All Outstanding Shares of NQ
BEIJING and DALLAS, July 30, 2014—NQ Mobile Inc. (“NQ” or the “Company”) (NYSE: NQ), a leading global provider of mobile Internet services, today announced that its board of directors (the “Board”) has received a non-binding proposal from Bison Capital Holding Company Limited (“Bison”) to acquire all of NQ’s outstanding ordinary shares and American Depositary Shares (“ADSs,” each representing five ordinary shares of NQ). Bison has proposed a fixed cash consideration of US$9.80 per ADS.
The Board is reviewing the proposed transaction, and may retain independent advisors, including an independent financial advisor, to assist it in its work. No decisions have been made by the Board with respect to its response to Bison’s proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will receive necessary approvals or be consummated.
Ok for a moment lets assume that some of the revenue was fake. That would imply that Q1 2014 and Q2 2014 projection made be NQ over the last few months, knowing the MW accusations are on their head and they continued to lies to the public will amount to TOTAL FRAUD.. You agree... Hence i do not buy your argument.
Yes i agree with some of your statements, and i posted messages to that effect, that NQ lied about May 15th knowing that DT had not finished their work and then went on to state that PWC and NQ was working very hard toward f20, again knowing that Audit lady was on her death bed and PWC had already asked them on expanding the scope and that they (NQ) internally had made a call to fire PWC. SO yes many lies, however..
I am long and hoping against hope that there is some truth in the DT statement that cash is real, contracts with sprint and the recent news are true, Q1&q2 2014 revenues are growing, appointment of new auditor (MBP), these are the positives that i am depending on to get NQ out of this mess..
It would be better for Nq not do anything other than tell us, reassure us that we will get our much needed F20 by Sep or Oct. Although this is too much of a ask knowing that MBP past record does not show that they can do this kind / quantity of work under time pressure. I am not prepared to have this drag out for 12 months. I am hoping the word MANY devices / many financial transaction does not mean 100's or thousands or else we will be here for a year or so..Company really needs to go all out on this and get the F20 done by Oct/Nov..there is no other workable option left for NQ. They are going to have to WALK the PPS upwards on their own. SHORTS have clear advantage for now and foreseeable future.
Every thing was going well without this low ball buyout offer news. Does Nq think that people in the market are stupid that they would not do a quick due diligence to see if likes of Bison are real or not, can they even afford to buy the company, and would people based on NQ;s own statements that NQ is worth north of 30 consider this offer a real offer.
All i can say is that NQ management has not learnt anything from the past year, There management , legal consul and any other person who is advising them collectively are utterly inept in managing the business or doing anything proactive to protect shareholders.
They need to come out and correct this mistake ASAP. REJECT THE OFFER.
I dont like saying this since i am long and have been hoping for a turn around, but I am disgusted with the NQ management for wasting valuable time. I hope MBP can save them and us. NQ has too many market forces working against it and NQ management does need to add to this.
Jane, that is not true, u r telling me if someone comes in and make a stupid offer company is required to disclose that. Absolutely NOT..That sort of behaviors would destroy great companies
agree, if NQ seriously thinks of itself Legit etc etc etc, then for NQ to even consider this lowball buyout offer was a joke. BUYOUT offers are never divulged until all is done
Cole, you may be right, my experience tells me buyout offers are kept very hush hush until it happens. so bottom line NQ has been lying, DT was all a lie, new contracts are fake, q1,q2 2014 projections are fake. And NQ is heading to ZERO.. This is frighting for the longs.
IN fact NQ management has become their own worst enemies..They think people are idiots they will not do some basic research on a company like Bison to know these guys are not serious buyers, they have never invested more than 20mil in anything, worst of all NQ agreed to look a their ridicules buyout offer. Give me a break, their mgt, their legal consul, and other advisers that NQ is spending money on are screwing NQ and the LONGS.
SO much of this stock is shorted that longs are going to have a tough time for dome time to come. I for one have come to terms with my long position which is to hold, do not add any more to the position and wait it out for f-20. I do from time to time wish that NQ will give us some heads up as to when we are likely to see the f20, And do they feel that MBP can deliver this some time this year. And do they have agreement with PWC to use all of data collected to date in regards to the 2013 financials. This to me a major show stopper, with this data MBP will not be able to complete the F-20 by Oct or Nov. .
BSX, with this level of shorting, small company like NQ does not stand a chance to over come these forces. The only way they can get out of this mess is do it through F-20, Having fired the PWC, now they can not even release their Q2 unaudited results.
I dont buy that fact that stock climbed on the buyout offer and in less than 12 hours it is back below 7 and this was all done by shorts. I think some institution or MM dumped their position.
i agree, have no where to go, staying put and watching the show, it is just starting to get interesting for long, shorts have had the field to themselves for a long time.
i am little disappointed at the Topeka guy, he has not done much since he got on the board and i am sure he would have to been involved in letting this PR go out. If he was he does not appear be smart. What is NQ trying to do, test the waters..
I had thought of the same, but reluctantly decided not to post the message, what i find puzzling is that why MM held it down unless something else is going that we don't know about, could it be a big short who also holds long position manipulating the stock. None of the day traders or purely retail buyers can not have this level of control or the money. Some big institution is involved
Hello their TIN TIN Tin, go ahead short the hell out it .. and get all your family to join it, lets bring it down...U I D I O T
If that is the case, someone gave them a real real bad advice and shame on NQ letting themselves get played by Bison, have they not learned their lesson from MW.
Longs got screwed by the latest buyout offer. NQ at times does not appear to be managing their outward image. Longs keep giving them a pass every time they screw up. Now they need to fire their legal consul because they are doing their job.