Replies to post #112365 on 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).

[Major Profits]

Perhaps you should also tell George that this wasn't a shell (as GS said this was) in the Form 10 filed September 28, 2021? smh

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.

https://www.otcmarkets.com/filing/html?id=15250025&guid=_Yz-kemXQTcpJth

Item 1A Risk Factors

As a shell company, we are not eligible to rely upon Form S-8 to issue our securities and are subject to enhanced reporting requirements.

As a shell company we are not eligible to rely upon Form S-8 to issue securities. Further, as a blank check we are subject to enhanced specific reporting requirements, including requirements as to the information to be disclosed in connection with any public offering of our securities as specified in Rule 419. These enhanced disclosure provisions and the rights to be provided to any purchaser in a public offering of our securities impose substantial costs on and impediments to a public offering of our common stock.

Because we are a shell company and have no business, holders of our common stock may not rely upon Rule 144 until disclosure provisions applicable to blank check companies are satisfied.

Rule 144 provides that shares of our common stock may not be sold under Rule 144 until we have ceased to be a shell company and one year has elapsed from the date on which we have filed Form 10 information. Thus, a holder of our common stock may be required to hold his shares indefinitely.