I was very pleased to have the opportunity to sit down with Kim Titus in Dallas in July and also to speak with Matt Mathison by telephone this afternoon. The following are some key takeaways from my conversations:
1. THE FUTURE OF NQ: Sound-bite directly from NQ's IR department - soon, NQ will come out of this like a "healthy man after 3 proctologist exams". In other words, NetQin Mobile will be the most scrutinized Chinese company on any American exchange.
2. THE FUTURE OF CARSON: Sooner or later... "there will be a time and a place..." If I were Carson, I would either: a. commit suicide, b. change my identity and run from law enforcement, or c. get ready for prison time. He should be nervous the next few times he crosses passport control at LAX on his way to see mommy and daddy in Pacific Palisades. I would say the same for Emily and Jonathon... but they will be dealt with differently. Some of this is actually my knowledge. I cannot comment much at this time.
3. PROGRESS ON THE 20F: NQ is very happy with Drew and the MBP team. They are committing twice the resources that PwC ever could. Readers should keep in mind that PwC in Asia is not PwC - they use the name, but it is a different legal entity all together. MBP has only been on the job 6-7 weeks. Providing a progress report is a moot point now. See point 8.
4. DEPARTURE OF KB TEO: KB was never responsible for the day-to-day operations of the accounting or the 20F and the work with independent auditors. Vincent Shi always was and will be until its completion.
5. CITIGROUP MEETINGS: According to Matt, they were "fantastic".
6. ABOUT SA ARTICLES: After a long chuckle... such rubbish. "We are not obliged to debunk conspiracy theories". The stock price will manage itself once the 20F comes out. And it will be GOOD!
7. ABOUT BISON: Matt said - "Rich - you can call it a low ball offer all you want, but it is more complex then that." In other words, Bison has long supported FL Mobile.
8. INVESTOR UPDATES: I suggested to Matt to have an September or October investor update in the form of a webcast that is somewhat controlled (to keep shorts and other idiots from being inappropriate). The response was: "Great idea, Rich!"
In summary... from the words of IR... "The 20F is not filed... we know this is the top priority... hold on as it will be a GREAT THING!!!"
Disclosure: The author is long NQ.
Additional disclosure: No insider information was provided to me by NQ. I am not trading on this information at this time.