Hints to the 20-F in Job Listings?

[BillNeuburger]

Well, their acquisitions were looked at by the special committee, and D&T. We all "Think" something which clearly doesn't help anyone, nor am I criticizing you for making a statement. If I had to guess it has something to do internally on PWC's Risk side. PWC and other auditors have screwed up over the years in many areas, and a little yet thriving Chinese company is getting jerked around, why? Because they hold all the cards, and can justify these actions. Not to mention the SEC crackdown. I also believe after this is said and done, NQ will give the boot to PWC, and PWC knows this too. The ultimate question, is how will this end and when..

The fact is OMAR, a U.S. based CEO expressed confidence in financials. This guy is going to jail if it's a fraud. At least I would think and hope so. As recently as a 2wks ago, he stands by them? This may imply the logjam is outside of financials and more with controls, and/or something else.
The management team is also still in-tact. Yes they own shares, and want to see it through, but these executives are not losers, I also believe the reputable guys like Gavin Kim have demanded answers from Omar in private and clearly are sticking with the company.

The company's ultimate flaw that resulted in this major disaster was that they didn't have a contingency plan at the moment when they realized delays were happening. 4 months later we trade at $4.00 per share, and dropping, and this is due to pure incompetence on this finance level, not the tech level which they are competent.

[kevinh]

Well, their acquisitions were looked at by the special committee, and D&T. We all "Think" something which clearly doesn't help anyone, nor am I criticizing you for making a statement. If I had to guess it has something to do internally on PWC's Risk side. PWC and other auditors have screwed up over the years in many areas, and a little yet thriving Chinese company is getting jerked around, why? Because they hold all the cards, and can justify these actions. Not to mention the SEC crackdown. I also believe after this is said and done, NQ will give the boot to PWC, and PWC knows this too. The ultimate question, is how will this end and when.. The fact is OMAR, a U.S. based CEO expressed confidence in financials. This guy is going to jail if it's a fraud. At least I would think and hope so. As recently as a 2wks ago, he stands by them? This may imply the logjam is outside of financials and more with controls, and/or something else. The management team is also still in-tact. Yes they own shares, and want to see it through, but these executives are not losers, I also believe the reputable guys like Gavin Kim have demanded answers from Omar in private and clearly are sticking with the company. The company's ultimate flaw that resulted in this major disaster was that they didn't have a contingency plan at the moment when they realized delays were happening. 4 months later we trade at $4.00 per share, and dropping, and this is due to pure incompetence on this finance level, not the tech level which they are competent.

The argument that Omar is still there and supporting NQ, so it's not a fraud, is a weak one. If NQ is a fraud, it's the Chinese management team committing the fraud and the US side won't have any liability, unless there's evidence of them being aware/complicit in the fraud. Even major frauds that occurred in the US, such as Peregrine Financial, only saw the guy directly involved in the fraud go to jail; his son, who was the CEO of the company, walked away free.

Again, not saying NQ is a fraud, but some of the arguments defending NQ are simply inaccurate.

[admin]

While it is certainly not conclusive by any stretch of the imagination, I find the fact that nobody has resigned during this ordeal still mildly encouraging. Liability is one thing, but reputation is another and I think people like Omar cares quite a bit about his. But, like I said, mildly encouraging, by no means conclusive and certainly not something that should be looked at in isolation.