I do not believe the shell status prevents QB listing, but I am not 100% sure. I believe I have seen QB shells before.
As far as removing shell status, it is entirely at the whims of OTC markets, MVNT has now provided financials to show they are not a shell and have provided 2 separate legal opinions from a securities lawyer stating as such. This is yet another example of how OTCmarkets is a joke, not a regulator what so ever and chooses to do what is wishes with no basis in facts.
I do think if they were to become SEC reporting with audited financials it may come off, but again it requires OTC markets to actually go it and remove the status, it is not something that just comes off without action from the OTC