NQ [Link Motion] 6-K: January 7, 2019 Dr. Vincent Wenyong Shi Link

Ticker: NQ, Company: Link Motion Inc., Type: 6-K, Date: 2019-01-11
Original SEC Filing: Click here


Webplus: NQ/20190111/6-K_1/2_EX-99.1/000.htm SEC Original: tv510911_ex99-1.htm
January 7, 2019 Dr. Vincent Wenyong Shi Link Motion Inc. No. 4, Courtyard No. 11, He Ping Li East Street Dong Cheng District, Beijing 100013, China Re: Dear : The purpose of this letter is to inform you that Marcum Bernstein & Pinchuk LLP (“MBP,” “we,” “us” or “our”) has resigned as the independent registered public accounting firm for Link



s:5085:" EX-99.1 2 tv510911_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

January 7, 2019

Dr. Vincent Wenyong Shi

Link Motion Inc.

No. 4, Courtyard No. 11, He Ping Li East Street

Dong Cheng District, Beijing 100013, China

Re: Link Motion Inc.

DearDr. Vincent Wenyong Shi:

The purpose of this letter is to inform you that Marcum Bernstein & Pinchuk LLP (“MBP,” “we,” “us” or “our”) has resigned as the independent registered public accounting firm for Link Motion Inc. (the “Company”), effective immediately.

As you are aware and as disclosed in the Company’s Form 6-K filed on May 16, 2018, the Company’s management identified an error regarding the classification of RMB512 million of its term deposits ("Term Deposits"). At that time, management also identified that certain agreements related to the Term Deposits, such as a joint custodian agreement, pledge agreement and the related personal bank loan agreements for Dr. Vincent Wenyong Shi (“Dr. Shi”), the Chief Operating Officer and Chairman of Board of Directors of the Company should have been disclosed and the Term Deposits should have been classified as restricted in the Company’s audited financial statements as of and for the year ended December 31, 2016. The management team began a comprehensive review process in order to make necessary adjustments and any required disclosures.

As part of their review process, the Company has informed us that they have identified the following matters, that if further investigated, might impact the Company’s audited financial statements as of and for the years ended December 31, 2017 and/or 2016: (i) the proper classification of RMB512 million of Term Deposits resulting in the overstatement of term deposits and understatement of restricted term deposits (ii) the disclosures associated with the Term Deposits (iii) the proper accounting, the nature of (including business purpose), and disclosures about the RMB113.2 million payment to Dr. Shi concerning the reversal of the 5.66% equity in FL Mobile and (iv) other associated accounting treatments and disclosure resulting from the agreements related to the Term Deposits, such as a joint custodian agreement, a pledge agreement and the related personal bank loan agreements for Dr. Shi.

NEW YORK OFFICE • 7 Penn Plaza • Suite 830 • New York, New York • 10001

Phone 646.442.4845 • Fax 646.349.5200 • www.marcumbp.com

In addition, a special committee of independent directors of the Company’s Board announced findings in the Company’s Form 6-K filed on September 10, 2018, related to its investigation of allegations raised by the former Chairman and Chief Executive Officer (CEO) of the Company related to internal governance matters raised in connection with an investigation into the former CEO’s resignation and replacement. MBP also received emails containing further allegations directly from the former CEO.

To date, notwithstanding MBP’s repeated requests, the Company has been unable to provide the information and documentation that MBP requires to determine whether an investigation of adequate scope has been performed and completed, as well as the impact of the results of the investigation on our work and on the Company’s 2016 and 2017 financial statements.

These matters also raise questions relating to our ability to rely on the representations of management.

We confirm that our opinion dated April 25, 2017 on the Company’s 2016 financial statements should no longer be relied upon. In addition, based on the foregoing, we are not in a position to reissue our opinion on the Company’s 2016 financial statements nor are we in a position to conclude our work and issue any opinion on the Company’s 2017 financial statements. Accordingly, we hereby resign as the Company’s independent registered public accounting firm, effective immediately.

Sincerely,

Marcum Bernstein & Pinchuk LLP

Sent Via E-Mailvincent@lkmotion.com

CC:

The Audit Committee

VIA MAIL:SECPSletters@sec.gov.

Office of the Chief Accountant

SECPS Letter File

Securities and Exchange Commission

";


Webplus: NQ/20190111/6-K_1/3_EX-99.2/000.htm SEC Original: tv510911_ex99-2.htm
January 9, 2019 100 F Street, N.E. Commissioners: Very truly yours, llp llp Marcum Bernstein & Pinchuk NEW YORK OFFICE • 7 Penn Plaza • Suite 830 • New York, New York • 10001 Phone 646.442.4845 • Fax 646.349.5200 • www.marcumbp.com



s:1305:" EX-99.2 3 tv510911_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

January 9, 2019

Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

Commissioners:

We have read the statements made by Link Motion Inc. in its Form 6-K dated January 9, 2019. We agree with the statements concerning our Firm in such Form 6-K. This Form 6-K should be read in conjunction with our resignation letter that is attached as Exhibit 99.1 to this Form 6-K and incorporated by reference herein.

Very truly yours,

/s/ Marcum Bernstein & Pinchukllp

Marcum Bernstein & Pinchukllp

NEW YORK OFFICE • 7 Penn Plaza • Suite 830 • New York, New York • 10001

Phone 646.442.4845 • Fax 646.349.5200 • www.marcumbp.com

";


Webplus: NQ/20190111/6-K_1/1/000.htm SEC Original: tv510911_6k.htm



s:2793:" 6-K 1 tv510911_6k.htm 6-K

MBP confirmed its previous advice that its opinion, dated April 25, 2017, on the Company’s financial statements as of and for the year ended December 31, 2016 should no longer be relied upon.

The Company has provided MBP with a copy of the disclosures it is making in this Current Report on Form 6-K and requested from MBP a letter addressed to the Securities and Exchange Commission indicating whether it agrees with such disclosures. A copy of MBP’s letter, dated January 9, 2019, is attached as Exhibit 99.2.

The Company has not yet engaged a new independent registered public accounting firm.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Link Motion Inc.
By: /s/ Vincent Wenyong Shi
Name: Vincent Wenyong Shi
Title: Chairman and Chief Operating Officer

Date: January 9, 2019

EXHIBIT INDEX

Exhibit No. Description

Exhibit 99.1

Exhibit 99.2

Resignation letter from Marcum Bernstein & Pinchuk LLP

Letter from Marcum Bernstein & Pinchuk LLP

";

Company Info:

Ticker: NQ, Company: Link Motion Inc., Type: 6-K, Date: 2019-01-11CIK: 0001509986, Location: F4, SIC: 7372, SIC Desc: SERVICES-PREPACKAGED SOFTWARE
Business Phone & Address:
No. 4 Building, 11 Heping Li East Street, Dongcheng District
Beijing 100013

Home Page Forums

By | 2019-01-12T04:34:57+00:00 January 11th, 2019|Categories: Chinese Stocks, NQ, Webplus ver|Tags: , , , , , |0 Comments

About the Author:

Leave A Comment

Skip to toolbar