Replies to post #19076 on Global Developments Inc (GDVM)

[eb0783]

what a loser.....iggy for you.

[wingtrade]

Chuckbits… a couple of things to consider.
Employees:
Updating this information is critical for new investors who might be looking into this stock in the coming weeks and months. Even if you already knew they have 25 employees, how would you expect new investors to find this relevant and important info?
Description:
Yes, merger was completed previously and we all knew that. While those of us following this stock are aware of this - again, new investors doing their DD will benefit from the updated description which confirms what we already knew. This is just good housekeeping.
Shell risk:
No, I would not anticipate thus being removed immediately. After the annual report then Melvin can request it to be removed which he might do. The shell risk designation is at sole discretion of otcmarkets - not something Melvin can control. Here is the info straight from otcm:

The Shell Risk designation indicates that a company displays characteristics common to Shell Companies. This designation is made at OTC Markets’ sole and absolute discretion based on an analysis of the company’s annual financial data and may differ from issuers’ self-reported shell classifications in their own public filings. Our analysis evaluates asset composition, operational expenditures, and income related metrics. No action is required by a company to perform the evaluation other than publishing current annual financial information.
In limited circumstances, OTC Markets will consider removal of a company’s shell risk designation upon written request by a company. Please be advised that such requests will only be considered when there has been a material change in financial condition since the most recent fiscal year-end that is reflected in publicly available interim financial statements. Examples include a material increase in asset composition or operating revenues with related financial disclosure as a result of an acquisition or change in control transaction.

While I am not an expert on the matter, I believe that the shell risk designation is not a significant issue. It will come off either when GDVM chooses to file a form 10 to become SEC reporting, or after the next annual pink disclosure and a request to OTCM to remove (which again, it’s their discretion so I wouldn’t necessarily assume they’ll oblige - they seem to be fickle about it and not transparent about their process and motivations). My feeling is that both the ticker and CUSIP change, as well as shell risk removal, can be done in Q1 2025 with the annual report which will hopefully be an audited 10K and will be the 2-year mark which is what I believe FINRA wants - 2 years of audited fins. I doubt we see audited 10K for 2023 before then but who knows - Melvin has proven he takes action without any pumping or pre-announcements, etc. This is the polar opposite of typical OTC behavior where CEOs often make uneducated claims or outright lies and exaggerations about compliance plans. How many times have tou seen a OTC CEO claim ‘audits are underway’ or similar, only for it to turn out to be misleading. Melvin has said no such thing - and I applaud him for that! I would be surprised if we see audited fins before 2025, but it wouldn’t be the first time Melvin has surprised with a very bullish development (for example, all those share cancellations and reductions he did). The only reason I personally think it will happen in 2025 is because it’s my opinion that is likely to be the best business decision for Veemost. I’m only guessing though. GL