There are several reasons why this could have occurred since there’s a gray area within the SEC’s definition of a shell company. The change in OTC Markets’ reporting requirements has affected many issuers in this capacity, so I’ve been researching it thoroughly to fully understand why.
It comes down to 3 things:
1) the company has nominal assets, or; 2) the company is planning to merge with another entity, or; 3) the company was identified as a shell at some point since inception after realizing initial operations.
Option #3 is the most prevalent conclusion throughout the OTC due to the vast number of reverse mergers that have taken place with tickers who have formally deregistered from SEC reporting status.
Lol it's on otc markets and nothing I have stated is false also dont let someone bs you and tell you they slap companies with that when they are slow with there fins because there's a difference for shell risk and shell shell means that volentaraly listed the company that way
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