{
  "docId": "019dd923-622c-750b-8b96-3ac8512a36a9",
  "docSlug": "1f82501868f5",
  "documentTitle": "NQ Mobile (NQ)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2013-11-12 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 6,
  "pageCount": 6,
  "prevPage": 5,
  "nextPage": null,
  "slideType": "other",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 1,
  "notes": "This is a page from a research note, likely a short-seller report, focusing on exposing corporate malfeasance.",
  "elementsJson": [
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b96-3ac8512a36a9/6",
  "deckHref": "/decks/019dd923-622c-750b-8b96-3ac8512a36a9",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b96-3ac8512a36a9.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-3ac8512a36a9#slide-6",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We do note that the substantial shares OPMG issued for the sub-license is a blueprint that NQ seems to follow with its repeated prodigious issuances of shares for compensation and as consideration for its numerous (seemingly corrupt) acquisitions.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee3b-7248-a196-efa2b8113ca2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.72,
        "x": 0.14,
        "y": 0.3
      },
      "kind": "paragraph",
      "text": "OPMG now trades for less than one cent per share.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "35a63922-0bf9-4891-b6de-316420f05711",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.72,
        "x": 0.14,
        "y": 0.19
      },
      "kind": "paragraph",
      "text": "NQ and CSI lengthened the original agreement one year later, in July 2010. The amendment authorized CSI to sublicense the software to Options Media Group, Inc. (“OPMG”). OPMG was traded on the Pink Sheets at the time.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "99e40427-f445-4407-9e09-6a99d2540bce",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.72,
        "x": 0.14,
        "y": 0.45
      },
      "kind": "paragraph",
      "text": "We are unsure of the ultimate fate of NQ’s agreement with CSI and the sublicense to OPMG. (NQ’s F-1 does not mention CSI or OPMG.) We do note that the substantial shares OPMG issued for the sub-license is a blueprint that NQ seems to follow.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b23603f3-8bdb-45ad-b299-77a7f93c695b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.72,
        "x": 0.14,
        "y": 0.09
      },
      "kind": "paragraph",
      "text": "NQ entered into a Master License Agreement in August 2009 with a company called Cellular Spyware Inc. (“CSI”) d/b/a PhoneGuard. CSI’s president, and the signatory to the agreement with NQ, was Anthony Sasso.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "be6a7e5a-b8a7-487a-bcd9-af727c889b19",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.72,
        "x": 0.14,
        "y": 0.34
      },
      "kind": "paragraph",
      "text": "In another NQ reality is stranger than fiction twist, Justin Bieber agreed to endorse OPMG’s Drive Safe product, which incorporated NQ’s technology.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cc9effa7-8874-4d95-86fa-bb7f69d60776",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.72,
        "x": 0.14,
        "y": 0.81
      },
      "kind": "source-note",
      "text": "Footnotes 6-10 detailing SEC filings and report references.",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "39b0a5f0-d8ed-4516-ac33-8318db505cb9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "7e8b81c0-1349-4b18-ac4e-0cc8bdad4685",
      "evidence": "The text explicitly frames the narrative as exposing NQ's 'fraud' and 'lies'.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 6,
      "from": 1,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "6711abbd-0343-4337-b08e-165180951263",
      "evidence": "The document implies that there are consequences to not taking action against NQ Mobile, although it is not explicitly stated.",
      "position": 1,
      "objective": "What are the consequences of not taking action against NQ Mobile?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}