Carson Block: NQ Mobile Behaving Like a Fraud

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Oct. 25 (Bloomberg) -- Muddy Waters Founder Carson Block discusses his outlook for NQ Mobile on Bloomberg Television's "Market Makers." (Source: Bloomberg)

This morning and said that was not true.

Carson block is in separate cisco for an interview.

Were you on the call this morning and do you have any reaction to nq mobile saying that all the allegations are false?

I did listen to much of the call.

It started quite late, so i might have missed the last five or 10 minutes.

The reaction is typical.

We have called a number of companies frauds.

Four of them have been delisted.

Except for one company, everyone comes out and says these allegations are untrue, wyou don't have a business -- understand the business.

How are you understanding this business?

How have you been collecting this information?

We have worked on it for two months.

We did a lot of on the groundwork trying to find physical presence of its customers, trying to find retailers that have phones with the apps preinstalled, surveying over 800 people in different parts of china to see whether they have this app on the phone.

We did a lot of analysis of government files regarding the company and its various entities, the companies it acquires, and also its largest customer, which we concluded is itself.

We did a lot of internet-based research.

He downloaded the app.

-- we downloaded the app.

We have computer engineers analyze the code of the app.

We try to make payments 60 times through their payment portal.

We did a lot of time -- work on this company.

You cannot with a strong sell rating on an queue -- nq.

As we disclose on the cover page of our report, we had a short position on the stock ahead of the publication.

We lose money if the stock is not a 20? -- will you lose money if the stock does not go to zero?

We don't comment generally specifically on trading matters.

The stock is a zero.

You can infer where the trading price rise --was, we're ok with

This text has been automatically generated. It may not be 100% accurate.


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