20-F Filed - Unqualified

[thecrazykevy]

With almost 150 million new shares, does this mean that NQ spent around $1.2 Billion (150m*$8 avg) on acquisitions in 2014???

Those are numbers are in common shares. You have to divide by 5 inorder to get ADSs since 1 NQ ADS is 5 common shares.

[nani4215]

Got it. That means NQ spent around $250 million on acquisitions.

With almost 150 million new shares, does this mean that NQ spent around $1.2 Billion (150m*$8 avg) on acquisitions in 2014???

Those are numbers are in common shares. You have to divide by 5 inorder to get ADSs since 1 NQ ADS is 5 common shares.

[nani4215]

Page 209 on 20F.   It seems NQ now owns 90% of VLife and 100% of Doreso(Music search/radar) companies.

(a) Investments and acquisitions

In January of 2014, the Group entered into an agreement to acquire 100% equity interest in Beijing Trustek Technology Co., Ltd. (“Beijing Trustek&rdquo
for cash consideration of US$1,640 (RMB10,000) and 3,794,038 restricted shares of the Company, 1,897,019 of which are subject to service and performance
conditions. Beijing Trustek is primarily engaged in providing industry mobility solutions and services, including hardware supplies, system management,
application development, business intelligence and maintenance services. The purpose of the acquisition was to acquire business relationship in healthcare
industry and enhance market share in enterprise mobility. The Group is still in process of assessing the accounting treatment of the transaction.

In January of 2014, the Group entered into an agreement to acquire additional 18.99% of equity interest in Tianjin Huayong Wireless Technology Co.,
Ltd.("VLife" (“Huayong&rdquo for cash consideration of US$249 (RMB1,520) and 12,930,378 restricted shares of the Company. On June 10, 2014, the Group entered into
another agreement to acquire additional 10% of equity interest in Huayong for cash consideration of US$113 (RMB 700) and 18,450,000 restricted shares of
the Company. Huayong is primarily engaged in research and development and marketing of live wallpapers for smart phones using android system. The
purpose of this acquisition was to bring a new product into the Group’s growing product portfolio. The Group is still in process of assessing the accounting
treatment of the transaction.

In May of 2014, the Group entered into an agreement to acquire 70% of equity interest in Yipai Tianxia Network Technology limited (“Yipai&rdquo for
cash consideration of US$7,000 (RMB43,400) and 33,900,125 restricted shares of the Company, 1,614,290 of which are subject to performance conditions.
Yipai is primarily engaged in providing mobile intelligent interactive advertising services, through integration of media channels of outdoor, newspapers,
magazines and etc. The purpose of this acquisition was to add new forms of advertising in the Group’s advertising business. The Group is still in process of
assessing the accounting treatment of the transaction.

In May of 2014, the Group entered into an agreement to acquire additional 45% of equity interest in Beijing Showself Technology Co., Ltd.
(“Showself&rdquo, equity interest held by the Company accumulated from 20% to 65% in aggregate, for cash consideration of US$77 (RMB 478) and 29,950,000
restricted shares of the Company. Showself is primarily engaged in providing entertainment and dating platforms on mobile internet. The purpose of this
acquisition was to bring a new product into the Group’s growing product portfolio. The Group is still in process of assessing the accounting treatment of the
transaction.

In May of 2014, the Group entered into an agreement to acquire additional 45% of equity interest in Shanghai Yinlong Information and Technology
Co., Ltd.("Doreso") (“Yinlong&rdquo for cash consideration of US$312 (RMB1,923) and 38,001,043 restricted shares of the Company, 7,600,209 of which are subject to
performance conditions. Yinlong became the wholly-owned subsidiary of Beijing Technology.

In September of 2014, the Group entered into an agreement to acquire 20% equity interest in Zhijian Fengyun Co., Ltd. (“Zhijian&rdquo for cash
consideration of US$1,789 (RMB11,000). Zhijian is primarily engaged in mobile game developments. The Group used cost method to account for this
investment and perform impairment test in subsequent periods.

In September of 2014, the Group entered into an agreement to acquire 15% equity interest in Launcher Technology Limited (“Launcher&rdquo for cash
consideration of US$2,419 (RMB15,000). Launcher is primarily engaged in launcher research and customization. The Group used cost method to account for
this investment and perform impairment test in subsequent periods.

[nani4215]

Majar acquisitions in 2014 - $50mil for additional 30% in VLife, $50mil for Yipai, $50mil for additional 45% of ShowSelf. $60 mil for acquiring remaining 45% of Doreso. Almost $210mil out of $240mil in these 3 companies.

[tacitusk]

Majar acquisitions in 2014 - $50mil for additional 30% in VLife, $50mil for Yipai, $50mil for additional 45% of ShowSelf. Almost $150mil in these 3 companies.

Good find, plus those purchases explain the class A expansion. Add up to 137,025,584 new shares out of the 145,628,147 total new shares. Share based comp. probably accounts for the rest.

[Banco_Central_de_Costa_Rica]

Majar acquisitions in 2014 - $50mil for additional 30% in VLife, $50mil for Yipai, $50mil for additional 45% of ShowSelf. $60 mil for acquiring remaining 45% of Doreso. Almost $210mil out of $240mil in these 3 companies.

Great work!!! Many thanks!

[quantumvibes]

Let's see if they can start buying back a significant portion of o/s shares once all the material info has been made public. With nearly $300mm in cash, I'd like to see a more than token buy-back program initiated. It'll also send a note of confidence to the market when mgt makes good on its announcement to purchase shares. I believe these are the types of steps that will help extinguish the lingering suspicions that may continue to dog the company for some weeks to come.