It is an otc thing only. Under SEC reporting, if they were, the shell risk message would be gone because the fins would be audited and due to the fact they are not a shell. Otherwise, the OTC only changes this designation based on annuals. Since there are no GDVM annuals yet, the sticker will remain. That is why Melvin can’t get it removed now.
But I think they changed the name at their Delaware designation to be able to clarify for the otc how their parent and subs are set up and will be set up based on future M&A