physdude Posted December 20, 2014 Share Posted December 20, 2014 This is the firm involved in NQ's reverse merger of FL mobile. I am trying to understand how the pre-reverse merger announcement valuation made any sense at all. Even if one assumes that the news leaked out a couple of months ago, the market cap at that time was still over HK$3 billion. The company has revenues of only about HK$22 million, makes a loss, has a history of issuing tons of equity and its best asset seems to be current assets (probably cash) of HK$162 million. Given the large number of cheap HK firms, can anyone figure out how this company reached this seemingly absurd valuation? I sure as hell can't after going through a few annual reports. Link to comment Share on other sites More sharing options...
Green King Posted December 20, 2014 Share Posted December 20, 2014 Possible pump and dump. If you don't see it just pass. It will save you a whole lot of time. Cheers GK Link to comment Share on other sites More sharing options...
serendibz Posted December 20, 2014 Share Posted December 20, 2014 Yes likely to be pump and dump. Don't waste your time on this. Link to comment Share on other sites More sharing options...
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