OTCM has never said VXIT is a “shell” they simply flagged them as a “shell risk”. Looks like Vxit is working to get that removed
The Issuer has provided written representation that, based on personal knowledge, review of public filings and review of the Company’s business and financial records, the Company has never been a shell company as defined by Rule 405 and Rule 144(i)(1)(i) of the Securities Act of 1933 and Rule 12b-2 of the Securities Exchange Act of 1934.
$VXIT I pointed out in my post your replying to that the last Attorney Letter that was filed by S O N F I E L D & S O N F I E L D had the exact paragraph in its Attorney Letter. That obviously was Ok with OTC Markets Shell Status requirements as that is in every Attorney Letter that is filed for all Companies without audited financial statements.
For companies without audited financial statements, an Attorney Letter Agreement must be on file with OTC Markets Group to qualify for Current Information
OTC Markets ATTORNEY LETTER AGREEMENT
Exhibit A
ATTORNEY LETTER GUIDELINES To: Attorneys Providing Letters with Respect to Adequate Current Information
#15. Counsel must state whether or not the issuer, or its predecessors, is or ever was a “shell company” as defined in Rules 405 of the Securities Act of 1933 and 12b-2 of the Exchange Act of 1934.