Good Vibrations Shoes Inc (GVSI)

[Yolo]

You were not correct on the shell because it had not been LEGALLY designated as a shell. You may think a company is BK, but until a judge issues the final order, they would not be BK. Legal definitions matter, unlike opinions.

It still has not been legally designated a shell. OTCM correctly updated the designation to show that it is a shell, in response to the recent disclosures, but nothing has legally designated it a shell.

Instead, it already qualified as a Shell and OTCM simply waited for confirmation from the filings to publicly change the designation.

For example, the attorney letter states that "the company was a shell corporation as of December 31, 2022." That date corresponds to the balance sheet and financial information for the fiscal year, indicating that as of the most recent balance sheet, the company qualified as a Shell corporation. However, OTCM didn't add the shell designation until the second week of January. Yet the attorney letter called it a shell as of at least 12/31, and we know it has been a shell for years (it was listed as a shell corporation in the Form 10 filings too).