I am familiar with shells but this does not seem like a shell. They seem to be an operating business and from what I have heard a profitable one. Have they pulled the business from the public "shell"?
"A typical shell is worth between 500k and 750k" so Geer is a shell?...are you sure? PS: what about a real company with 12M revenues, 1,2M net income, no diluition, 8,5M O/S, trading only 150k $?