I do not consider my loss small by any means, nor am I careless of it. But I have a lot of things going on right now, and frankly I am prioritizing which things I am willing to invest my time in.
I do not find a lawsuit against CNOA a priority because I think that it will be absolutely useless in terms of recovering anything. Legal action intentions had been made public, and presumably the company has taken notice, but I am afraid this might be as far as it goes.
Consider this: the previous lawsuit was actually won by the shareholders, and settled by the company back when they were still reporting revenues, filing paperwork, and had an uncontested U.S. asset. The money, as miserable as the sum was, has not yet been paid out years after the settlement. At this point, I doubt it ever will be. So, what exactly do you expect from a similar endeavor now, when the company is no longer filing, no longer communicates with anyone, does not have a website, and the only U.S. asset has now been taken away? Do you really expect a better result from a situation that is incomparably worse? Unfortunately, Chinese companies have the luxury of being in a very distant and different jurisdiction, and that was something everyone should have kept in the back of their minds when investing here. I did, but what I have not anticipated was the worst possible turn of events. Shit happens, what can I say.
These are my thoughts, and I do not subscribe anyone to this point of view. I will continue to follow CNOA developments in the nearest future, but with no particular hopes.
This post is my personal opinion. I do not provide investment advice.
i.t.m.d.
