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  "docSlug": "69cc18cfe079",
  "documentTitle": "NQ Mobile (NQ)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2013-10-24 00:00:00",
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  "notes": "The slide highlights a suspicious reclassification of cash assets from Level 1 (quoted prices) to Level 2 (observable inputs) without explanation, suggesting potential fraud.",
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      "text": "The Level 2 reclassification raises worrying issues because the default assumption is that cash and term deposits of less than 12 months in safe banks are not Level 2 assets.",
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      "text": "Fair value measurement: $127,938",
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      "text": "The first warning sign about NQ's purported cash balance being fraudulent is that in the 2012 20-F, NQ classified all cash and equivalents, and term deposits, as Level 2 assets for 2011 and 2012.",
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      "text": "62 2012 20F, p. F-23. 63 2011 20F, p. F-18.",
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