independent review report

[chenlica]

anyone has any idea how long it'll take to do that independent review and come out with a conclusive report?

[kshen]

Depends on how thorough they are going to be. NQ is arguably one of the most scrutinized firms atm. Some estimate 11 audits by different sources since 2011. I doubt they will do a cursory audit in light of the fact that so many have done general audits... If they do a full audit and checking of PWC's work it could take a couple months...

[chenlica]

Depends on how thorough they are going to be. NQ is arguably one of the most scrutinized firms atm. Some estimate 11 audits by different sources since 2011. I doubt they will do a cursory audit in light of the fact that so many have done general audits... If they do a full audit and checking of PWC's work it could take a couple months...

couple of months...oh my...then i will have to delete everything about NQ in my computer and my cellphone and keep my eyes closed on its prices...

[tradestar2012]

If management/company and vendors are cooperative, expect ~2months. They are doing a fairly robust audit. Business, accounting, cash and liquidity, revenues, customers and products. The whole shebang.

[kshen]

Chenlica. I really should do that too. I'm getting way too stressed over this as it is. It's going to start affecting my job and that would be bad

[chenlica]

If management/company and vendors are cooperative, expect ~2months. They are doing a fairly robust audit. Business, accounting, cash and liquidity, revenues, customers and products. The whole shebang.

guess i'll need to close my eyes on the stock price for a while...just too volatile at the moment.

What I care is if NQ is a fraud or not. If it's not I believe the stock price will gradually recover for sure. This forum provided me with lots of information and insightful analysis so I'll be coming back often for updates. Medias (including SA) are at times misleading and biased so I don't fully trust them.

thanks guys, keep up the good work!

[tradestar2012]

dont worry about the independent audit. What is more telling is PWC's stance on 3Q financials. Its actually more important than the independent audit because if PWC walks, then your independent audit is no longer needed...

If 3q earnings go off without a hitch, I would not be too worried about the independent audit as PWC is already likely doing their own checks right now to confirm their stance behind NQ and their #'s

[chenlica]

Chenlica. I really should do that too. I'm getting way too stressed over this as it is. It's going to start affecting my job and that would be bad

haha actually I'm starting this method this week. SHU and NQ investor relation website are the only two places I visit to get updated information on this matter. as long as NQ keeps fighting and releasing positive news it should be good...

I almost had a heart attack that afternoon when I finished a fellowship at my church and I looked at my cellphone and saw that horrible -40%...i kept smilling to everyone saying goodbye and then rushed to the washroom to pray...that was unforgetable.

I believe we will be good at the end. Truth will eventually prevail no matter what.

[bosreeno]

I plan to put NQ on ignore for the next little while. Too much noise from all around. Only exposure left for me are January 2015 calls, so at least there is runway if they are in fact clean and fraud-free and SP can bounce back.

Let the traders and SA folks run with it for now.....ultimatley - I would think - they have little influence in the long run.