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  "docSlug": "2e1719f8e47d",
  "documentTitle": "NQ Mobile (NQ)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2013-12-19 00:00:00",
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  "notes": "The slide uses stock charts to illustrate the impact of fraud allegations on share price.",
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      "text": "Investors have lost almost 95% since then.",
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      "text": "In response to an April 2011 Muddy Waters report concluding the company was a fraud, in June 2011 the independent committee confirmed that the cash in the company’s bank accounts matched the prior two periods’ reported numbers. The stock had been halted at the time of the announcement at a price of $3.88. Investors have lost almost 95% since then.",
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      "text": "In response to an April 2011 short seller report, the company’s audit committee engaged an outside advisor to investigate the allegations. On March 1, 2012, the company announced that the independent advisor has successfully reconciled the company’s SEC financial statements to its PRC filings, had concluded the company’s asset values are not overstated, and had verified that the reported cash balances were accurate.",
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      "text": "stock price: 95%",
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      "text": "Page 6 of 9",
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      "kind": "paragraph",
      "text": "Nasdaq de-listed the company’s shares in March 2012, and pursuant to court order, the company has been in liquidation in since June 2012. The stock is likely worth zero at this point, having fallen from over $20 per share on the date of the announcement.",
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      "kind": "title",
      "text": "Sino Clean Energy, Inc.",
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