Seeking Alpha

Mosbear64's  Instablog

Mosbear64
Send Message
Rich Selby is an international agribusiness/renewable energy consultant and an options/futures trader from Des Moines, Iowa with over 26 years of experience in finance, auditing, business development and C-level functions. He currently is an advisor in commodities and organic agriculture to one... More
My blog:
Rich Selby's Blog
  • AN APPEAL TO CARSON BLOCK 27 comments
    Jul 3, 2014 2:36 PM | about stocks: NQ

    Dear Carson,

    Remember last month when you asked NQ if you could participate in auditing NQ's books (sorry if I am misquoting you)... and NQ either declined or did not comment???

    Well, here is a deal I want to make with you:

    1. I will push NQ like mad, as a shareholder demand, to have you and me audit their books and I will not stop until I get what I want;

    if and only if:

    2. I, and a team of 3 others chosen by me, get to audit Muddy Waters, your dad's company and your personal finances and investment records, tax returns etc.

    and

    3. You and a team of 3 others chosen by you, get to do the same to me, my companies, my tax returns, my education, my birth certificate.. etc...

    On all audits, NQ, yours and mine - let's go back at least 5 years, or 7 years... up to you...

    Please let me know your thoughts!

    Sincerely,

    Rich

    Disclosure: The author is long NQ.

Back To Mosbear64's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (27)
Track new comments
  • Energysystems
    , contributor
    Comments (1137) | Send Message
     
    It's official.

     

    http://bit.ly/1mcoPV0

     

    You've jumped the shark.
    3 Jul, 02:48 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » I love it... I am NEVER blocking you... I decided that you can be a member of my audit team, unless you are Carson.. :))
    3 Jul, 02:59 PM Reply Like
  • EquityTrader1975
    , contributor
    Comments (301) | Send Message
     
    give it dude, I just lost 58K, NQ going to zero, board quits, no year end, more bad news coming
    3 Jul, 02:58 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » Now that is strange... you sent me a personal message this morning saying that news is good... now you sold? Where is the news that the "board is quitting"... what more bad news is coming... are you an insider??? Hmm...
    3 Jul, 03:11 PM Reply Like
  • GreenGrowthGeek
    , contributor
    Comments (768) | Send Message
     
    Go for it Rich. I'm sure CB doesn't have the cajones.
    3 Jul, 03:18 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » My only issue is a have a gig in Texas (Not Dallas.. :)) and I'd have to take at least 2 weeks off to hire some "people" to look at CB's endeavors... The NQ audit is his problem, I will just help push it!
    3 Jul, 03:56 PM Reply Like
  • Fibonacci Sequence
    , contributor
    Comments (591) | Send Message
     
    Mosbear - what would you change in your investment process going forward? what lessons could be learned from this?
    ======
    I spent this morning reviewing a underwhelming investment, going over the due diligence reports from 2006-2007 this morning, and speaking with ex employees. Sometimes one learns more from the painful episodes than the happy ones.
    3 Jul, 05:03 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » I learn when I am awake and this story is far from over. So far I have learned that:

     

    a. the short and distort world is quite dark and dirty. Much more than I had imagined. SEC is too focused on punishing pump/dump and I hope to have a voice changing this.

     

    b. NQ management is great at product launches but doesn't know how to manage tough situations. They need a field marshall like Bob Dudley at BP, Brian Jellison at Roper or a Meg Whitman at HP...

     

    c. I have learned a lot about VIE structure from previous engagements, but I feel like I know it much better now.

     

    I hope I can find time this weekend to write an instablog on why I went long @$7.10 - however, I have a big work engagement starting Monday so its now or never.
    3 Jul, 06:34 PM Reply Like
  • Bouchart
    , contributor
    Comments (780) | Send Message
     
    Just cut NQ loose already. There are plenty of quality stocks out there that don't have the risk of dropping straight to $0 for being a massive fraud.
    3 Jul, 11:45 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » Yet another basher hiding behind anonymity... very sad. Do you really think NQ is worth zero? Do you really think the company founders want the company to go belly up so they can take a few measly million and head to the Maldives with some prostitutes and buy a boat? So this "fraud" would rip off and tick off some of the largest companies in the world like Sprint??? So watch this and tell me, is Omar a fraud and con man as well? http://bit.ly/1ln9AIp
    4 Jul, 06:45 AM Reply Like
  • Faxbot
    , contributor
    Comments (311) | Send Message
     
    I have watched your video, and I have determined that the poor guy was a believer (hippy) and got duped. As for the founders, they have made much more than a few measly million. Their family members, friends all backed the truck on this one before the stock shot the moon in the spring. As for being afraid of making enemies like Sprint. You obviously don't know how the Chinese think. They will be getting away with this.
    4 Jul, 11:07 AM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » Hello Faxbot, you are certainly entitled to your opinion. So then why would NQ now spend well over $7 million on legal and auditing fees etc. if they were not going to fight it.. so you think NQ is really a worthless shell? So Henry has duped PwC, DT, Sherman and Sterling, Sprint, little ole me and everyone else... that is what you are saying? So they have no security solution for mobile and Henry's PhD is probably also faked and Omar is so stupid, he has spent well over 2 years and still thinks NQ is going to the moon? And everyone in IR is stupid and they are working on holidays and weekends to try and cover this all up?
    5 Jul, 10:17 AM Reply Like
  • Faxbot
    , contributor
    Comments (311) | Send Message
     
    Pal, if it were only so cut and dry. All former chinese frauds had legitimate businesses. They were not called out as worthless shells. They were called out for not being forthcoming with the amount of money they made. An over exaggerated contract here and a fudged number there in no way means they have nothing.
    As for fooling everyone well, there are various degrees of deception. Selective story telling for example is how I believe Omar, Sherman accountants, and you would be most susceptible to. After all, how would you know something true or false if you never knew of its existence? But I suppose reasoning with you just makes you angrier and more set in your ways.

     

    In all seriousness, I support your plea to Carson though ofcourse I doubt it would ever happen. I propose we crowd fund you to China anyway to do your own investigation, ironically I trust what you would come back with more than Toro because you seem to wear your heart on your sleeve. I would gladly pitch in 10 bucks. :)
    6 Jul, 11:28 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » Believe it or not, I clicked "like" on your comment. I don't agree with everything you say, but I certainly appreciated the last paragraph.
    Back to Carson, if he was merely a researcher and not a short seller using the media the way he has, then I would never be so vocal.
    Also I should say I have been involved (as a consultant, as an employee, as a leader etc) in many an investigation - some much larger and more serious. Believe me, if this smelled really bad - the truth would be so obvious by now - it usually comes crawling out sooner or later - even in China, Russia, Nigeria what have you.
    I cannot imagine someone like Omar, as smart as he is, joining a company with false technology and fake revenues. He doesn't come across like a person just in it for the stock package. Anyway, I appreciate the offer to crowd fund - that would be fun... I have people on the ground in China giving me advice as well as some very serious Silicon Valley tech folks. NQ is for real and extremely undervalued.
    7 Jul, 08:26 PM Reply Like
  • Energysystems
    , contributor
    Comments (1137) | Send Message
     
    Yes, you mentioned your "people" in China, the day before the selloff, on the spike about the rumored 20F. That certainly didn't work out. You obviously believe in this company, otherwise, why bet $200K on it? But, with such a position, you're obviously going to become only more and more vocal, the lower $NQ falls. Now, did you hedge your bet in any way? Stop-loss or otherwise?

     

    "Believe me, if this smelled really bad - the truth would be so obvious by now". -Maybe, just maybe the truth is obvious to some. Maybe you. Maybe the market. NQ is down about 70% this year.
    8 Jul, 08:10 AM Reply Like
  • Faxbot
    , contributor
    Comments (311) | Send Message
     
    With your experience, what are your thoughts on that company that was outed for fraud yesterday in Spain?
    8 Jul, 09:31 AM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » Hi Faxbot - you cannot compare the two... it took 5 whole days for Gowex to collapse. Comparing NQ to Gowex or SINA is irrelevant. It is not very hard for a forensic auditor to uncover falsified bank statements.
    8 Jul, 10:30 AM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » ES - all I said is that my guy confirmed that there was a rumor... the rumor happened while people in the US were sleeping. I never said: "The rumor is true". You will be surprised how less vocal I will become due to the fact that I am starting a very big project this week unrelated to NQ or China. Did you say before that you "had no position in NQ?" -- if that's the case -- why is it your full time job (by the looks of it) to bash the stock?
    8 Jul, 10:33 AM Reply Like
  • Faxbot
    , contributor
    Comments (311) | Send Message
     
    "you cannot compare the two.."
    Wasn't comparing, just asking. Don't take it as a jab, you said you had experience with this stuff, I just wanted a none CNBC view.
    8 Jul, 11:03 AM Reply Like
  • Energysystems
    , contributor
    Comments (1137) | Send Message
     
    I have almost 900 comments on articles on SA, about 20 of those are related to $NQ. So, I guess you can take what you want from that. Never had a position in $NQ, and I've never shorted any stock. I just feel the need to correct obvious, and in some cases, egregious errors from the $NQ longs.

     

    "Believe me, if this smelled really bad - the truth would be so obvious by now." ...Down another 5% today btw.
    8 Jul, 01:53 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » My apologies to faxbot - I didn't mean to come across as defensive...
    9 Jul, 07:54 AM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » Ok - Thanks for clarification. I just wonder why you comment a lot. Don't take me wrong... I do enjoy your thoughts even if I don't agree. Others like to block you but I like your personality.
    9 Jul, 07:55 AM Reply Like
  • GreenGrowthGeek
    , contributor
    Comments (768) | Send Message
     
    Well, the share price is definitely going to tank more in coming days Rich. I guess this shouldn't be a shock as something was clearly amiss between NQ and PwC given the long delays. Now the shorts will claim fraud even if NQ gets a clean 20-F from the new auditor. I still expect a share price above $8 by year's end but the possibility of $1 is now a lot greater. I still highly doubt that NQ is a "fraud" they are simply the most attacked small company on the market and PwC got cold feet about filing a 20-F given that the company has been under a microscope and apparently the "missing data" issue became the issue. I'm holding.
    18 Jul, 09:54 AM Reply Like
  • Fibonacci Sequence
    , contributor
    Comments (591) | Send Message
     
    Another huge day for NQ, in the 5 handles, longs can start gleefully spending their gains!
    22 Jul, 01:54 PM Reply Like
  • Mosbear64
    , contributor
    Comments (195) | Send Message
     
    Author’s reply » An again today... people start to see who the real fraud is...
    23 Jul, 08:22 PM Reply Like
  • Fibonacci Sequence
    , contributor
    Comments (591) | Send Message
     
    Another big victory for the longs! back up to six! Make tonite's dinner a steak!
    24 Jul, 02:48 PM Reply Like
  • Fibonacci Sequence
    , contributor
    Comments (591) | Send Message
     
    Great profits for the NQ longs again today. Those who bought at $4.18 are up 63% already.
    25 Jul, 01:53 PM Reply Like
Full index of posts »
Latest Followers

StockTalks

  • NQ: SERIOUSLY UNDERVALUED WITH NO MORE SHORT THESIS $NQ http://seekingalpha.com/p/21on5
    Nov 6, 2014
  • $NQ soaring today on news that 20F is in signature stage, law suits dropped and a 2nd buyout from another company at $10.80 per ADR share.
    Oct 6, 2014
  • $NQ a big shout out to Mr. Sludge for an excellent piece today: http://bit.ly/1rnriQK
    Sep 29, 2014
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.