'admin' pid='30186' datel Wrote:So we have MW arguing their security software is crap and like spyware but we have Westcoast labs saying it's top software. I also simply can't imagine the likes of America Movil (and a host of other partners) haven't extensively tested it...

I agree and appreciate the additional information.  I am left scratching my head.  I would love to hear how some of you more intense traders work with and use washsale rules to your advantage especially dealing with options.  If this thing Gaps back up i am going to be frustrated but i had to close out of everything

'SamAdams' pid='30183' datel Wrote:

I have met Omar a number of times, as recently as this past August and May.  I do not believe the report.  I also don't believe that they would have gotten a bond deal done withe the likes of DB and MS if the fraud was so obvious.  Typically the debt deals face a much higher level of DD.

Sam, I have never had the opportunity to meet Omar, but he is the main reason I overlooked the fact that NQ was a chinese company.  Is it possible he gotten taken also?  That is hard to believe.  It hopefully was just an opportunity for a lot of the shorts to buy back their short positions as the stock fell today.....

The short interest as of 10/15 was up over 1 million additional.

NQ Mobile Plunges on Short Seller Muddy Waters ‘Fraud’ Call 2013-10-24 18:51:20.149 GMT By Belinda Cao Oct. 24 (Bloomberg) -- NQ Mobile Inc., a Chinese mobile- security service provider, sank the most on record after Muddy Waters LLC called the company a “massive fraud.” NQ Mobile dropped as much as 63 percent to $8.46 in New York, the most since the company’s initial public offering in May 2011, before trading was suspended. Shares were up 279 percent this year as of yesterday. Muddy Waters, a research firm founded by short seller Carson Block, initiated coverage of NQ Mobile with a strong sell rating. Block gained fame for his short-selling calls after regulators halted trading in four of the first five companies he targeted starting in June 2010. NQ raised on Aug. 12 its 2013 revenue estimate to as much as $188 million from the upper limit of its prior forecast of $184 million, after second-quarter adjusted profit more than doubled. “We believe it is a zero,” Block, wrote in an e-mailed report today on NQ Mobile. “At least 72 percent of NQ’s purported 2012 China security revenue is fictitious.” Kim Titus, a Dallas-based spokesman with NQ Mobile, declined to comment when contacted by phone by Bloomberg News, saying he first needed to see the report. NQ’s market share in China is about 1.5 percent, versus the approximate 55 percent it reports, Block wrote. The company’s China paying user base is less than 250,000, versus the six million NQ claims. Shorts Double The company, which has added online games and a music search application to its services, released NQ Live, a mobile Internet platform that can be customized, Jun Zhang, an analyst at Wedge Partners Corp., wrote in a report this week. “NQ claims to generate international revenue in obscure markets, and through mysterious counterparties that seem to seldom pay,” Block Wrote. Muddy Waters said in a June 2011 that Sino-Forest Corp., a Chinese plantation company listed in Canada, exaggerated its revenue. Sino-Forecast filed for bankruptcy protection the following year. Short interest in NQ has doubled since July to a record 11 million shares at the end of September, according to the exchange data. Beijing-based NQ said in December that a report by short seller FJE Research claiming the company inflated its user based was incorrect. Gotham City Research said that as much as 25 percent of NQ’s business is overstated, according to a post on Twitter. Morgan Stanley and Deutsche Bank AG helped NQ Mobile raise $173 million in a private placement of convertible bonds on Oct. 9. The conversion price was about $25.61 per ADR.