Tuesday, November 18, 2014 4:59:18 PM
Quarterly earnings are like a mid term report card. Most investors concern themselves with the updated balance sheet, earnings and skip the rest. I don't believe there is a law requiring a company to discuss a current joint venture on a Q3. If anything, there could be serious future litigation mentioning an unsolidified venture in a SEC filing.
What would also be illegal is to include Santa Rosa capital in your company’s Q3 balance sheet and pass it off as GRPR money.
This is not “loan from the bank” classic funding that would show up in the assets-liabilities columns. The deal cut between Santa Rosa and Grid is a joint venture. Parties agree to develop, for a finite time, a new entity and new assets by contributing specified equity. They exercise control over the new enterprise and consequently share revenues, expenses and assets. GRPR has the land (lease rights), Santa Rosa has the development capital. That’s da deal.
I disagree that we have not had any news. We have had 8-k current reports and the Q3. It might not be the news everyone wants to hear but, it shows GRPR’s prioritized dedication to report in good faith and remain in compliance with the SEC. What I found interesting; this is the first quarterly in a while that was not prior accompanied by an nt-10K “report will be submitted late” form. This Q3 was submitted right on time…. Another obvious priority??
Why the wait??? Who knows, by my own experience with permitting, I am holding to the long and annoying wait for a permit. The only thing material I have found to feel warm and fuzzy about is looking on the Santa Rosa web site under current drilling. (link below) they clearly outline the joint venture as a present prospect.
http://santarosaresources.com/current-drilling/
GRPR is a lottery ticket gamble and we must wait to find out if we picked a winner. GLTA
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