I would like to know if Marcum is still the auditor. If FUQI is paying Marcum as auditor, it means that EVENTUALLY audited financial statements will be forthcoming. If FUQI has no interest in producing audited statements, or if Marcum refuses to sign off on the statements, FUQI would very likely terminate their relationship with Marcum.
I have trouble believing that Chong's cash transfers will prevent Marcum from signing the audits. SEC seems pretty precise that $134M was moved out of accounts. Even if the money was moved back into different accounts, it should be possible to learn if the inflows add up to $134M. Chong's fine was only $150,000; it could have been much higher. Marcum may be waiting for the US District Court in Washington to approve the settlement; it's not formally approved until this happens. I think this approval is likely critical.
1. Now that the SEC investigation has been settled. When can we expect to receive audited financial statements for the years ending 2009, 2010, 2011, and 2012.
2. If FUQI was cooperating with the SEC, why was it unable to provide independent verification that the cash involved in the questioned transfers was returned to FUQI bank accounts.
3. Does FUQI continue to submit to and cooperate with the recent Delaware Court order to appoint a receiver to conduct a shareholders meeting? If so when can we expect a receiver to be appointed.
4. Who is now the Chairman of the Board of Directors of FUQI.
5. Will the fines assessed on FUQI be covered by Insurance.
6. Will FUQI reimburse Chong for his $150,000 fine.
7. Will Fuqi pay the legal expense of Chong.
8. Is Pan still employed as CEO and a Director of the company.
9. Is Marcum still engaged as auditor of the company.
10. Are Fuqi International and its operating subsidiaries conducting business as usual.
11. How will Fuqi International communicate with shareholders in the future.
12. Is Fuqi International working to have its shares re-listed for trading in any public markets.