They said they would appear at E3 and come with a big announcement. I haven't found it yet, what was it?

They announced that they would make a game sometime in the future

No they didn't. Nothing was shown.
 
There was some facebook page that said stuff like that. It was clearly fake, yet some sites picked it up. Maybe you're thinking of that. Either way, they won't have anything to show for a good while.

The company just started, I wouldn't think they even have a set concept yet.

Yeah they won't be showing anything for a while. They might show at next years E3 with a 2012 release.

Everything you heard was rumor and lies.  They're less than two months old, what did you expect?  Modern Warfare in space?

They announced they aren't sleeping in the streets anymore and has a place to live. Honestly what can you expect them to announce?

" They announced that they would make a game sometime in the future "

EA wanted a walk on at the presser to show of their new prize.  Likely they got a nice comped hotel and trip out of it.
 
Given that they walked away without even an engine I would say 2 years is optimistic unless they use middleware.