agch, I'm not aware that Fu made that statement, or that the shorts twisted his words. Where did you get this from? Although it is typically something you would expect from the shorts.
It is perfectly reasonable to assume that the lawyers told Fu to shut up or look for another lawyer.
They are not reporting earnings because that would open the door to another class action lawsuit when they don't even know how the first one will end. If the first one is settled, or dismissed, then they can't be charged twice for the same issues as small or insignificant as they may be. That's the whole point of not reporting earnings because as an OTC stock they don't have to. None of the companies that have been delisted are reporting earnings to my knowledge.
There's another thing. Fu did announce a new contract after the allegations and the stock was punished for it. I suppose some people thought it was a fake contract. And when the company announced a loan to show their credit worthiness and trust from banks, people automatically assumed that the cash on the balance sheet was fake. Hit a dog hard with a stick, twice, and see if he comes back...
This has been a self-fulfilling prophecy in play for a long time and whatever they do they can't fix it by "communicating" to shareholders. Not to mention that every bit of information could act as an invitation to the shorts to further manipulate the truth.
As much as I dislike the silence from the company, that's what we are looking at. And Fu did issue a letter to shareholders and reiterated it a couple of months ago by making it the first thing visible when you visit the website.
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