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  "docSlug": "dbe8cd7c1d0d",
  "documentTitle": "NQ Mobile (NQ)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2013-10-29 00:00:00",
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  "notes": "This slide is part of a series of 'lies' identified by Muddy Waters regarding NQ Mobile.",
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      "kind": "callout",
      "text": "Management made false statements because it is still unable to explain why all of its cash was classified as Level 2.",
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      "kind": "paragraph",
      "text": "Lie #7: NQ's payment portal works fine.",
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      "kind": "paragraph",
      "text": "Lie # 6: Chinese companies commonly classify all cash as Level 2 assets.",
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      "text": "Lie #5: Muddy Waters believes there are no problems with NQ's SAIC financials.",
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      "kind": "quote",
      "text": "“Actually this practice of classifying some assets as Level 2. It’s actually - had been adopted by quite a number of Chinese companies listed in the U.S. from our perspective...a number of other companies have also adopted Level 2.... Mainly those are Perfect World, Sina, and Sohu.” — KB Teo",
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      "text": "7 http://blogs.barrons.com/emergingmarketsdaily/2013/10/25/nq-mobile-operational-risk-high-if-cash-classified-as-level-2-asset/?mod=BOLBlog\n8 http://blogs.barrons.com/emergingmarketsdaily/2013/10/25/contrary-to-nq-mobiles-claim-treating-cash-as-level-2-asset-is-not-common-chinese-practice/",
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