FONU is not a clean shell. Could face massive litigation risks due to the fraud by the CEO, former CEO and others. They owe $millions in fines/court costs.
In addition, Kumaran, Shapiro, and Roger Miguel – the CEO of a separate successor public company called Fonu2 that also operated under the name Moon River Studios – are alleged to have backdated and falsified promissory notes as part of a scheme to issue common stock in exchange for financing.