NQ Mobile Inc (ADR) (NYSE:NQ) released an investor relations update on July 29th, 2014. The company update provides further information regarding the payment of additional interest to the holders of its 4% Convertible Senior Notes due in 2018, the firm being awarded three separate 2014 Best in Biz International awards and further details on NQ Mobile’s participation in the Brightstar 20:20 program.
NQ Mobile Inc (ADR) (NYSE:NQ) Brightstar 20:20 program
Brightstar 20:20 is rapidly growing global (business-to-business) program with a developed presence throughout Europe. The enterprise is focused on developing innovative business services and solutions, including a suite of distribution and value-added solutions. With Brightstar 20:20, resellers provide their enterprise customers with leading brand mobile handset brands, accessories, insurance, cellular airtime and on-device services such as NQ Mobile Security.
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As noted in the June issue of Mobile Today, HTC has recently announced plans to work with Brightstar to give resellers access to their full product portfolio. Moreover, NQ Mobile Security will be licensed and bundled with Android devices including the HTC One (M8) and will come with simplified activation. Brightstar 20:20 will also eventually include other manufacturers in the program.
NQ Mobile Inc (ADR) (NYSE:NQ) 2014 Best in Biz International awards
The July 29th IR update also mentioned that NQ Mobile Inc (ADR) (NYSE:NQ) received three different honors at the 2014 Best in Biz International awards earlier this month:
- Gold in the Business Development Department / Team of the Year category;
- Silver in the Fastest-Growing Company of the Year – Medium category; and
- Silver in the Enterprise Service of the Year (NQ Sky) category.
NQ Mobile Inc (ADR) (NYSE:NQ) Interest Payments On 4% Convertible Senior Notes Due In 2018
As noted in an SEC 6K filing yesterday, NQ Mobile Inc (ADR) (NYSE:NQ) sent notification to the holders of its 4% Convertible Senior Notes due in 2018 of its decision to pay additional interest as the sole remedy for the firm’s inability to file annual report on Form 20-F for 2013 to date. The extra interest will begin accruing from July 29th and is limited to 0.5%. This remedy will give the firm an another 180 days to file its 2013 Form 20F annual report.