DD Support Board and Research Team

[nodummy]

Most likely the reason Jon Fullenkamp/Direct Capital reassigns some of the Notes to some of these well known toxic financiers like V2IP Inc, Blackbridge Capital LLC, Southridge Partners LP, and others is because Direct Capital has so much debt in SIML that Fullenkamp couldn't possibly get it all converted and sold before SIML ends up at no bid again. I remember taking a peek at SIML back on May 1, 2016 and seeing that Direct Capital (Fullenkamp) was owed over $2,000,000 at that time.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=122320651

I've never actually research SIML much, but I highly doubt $2,000,000 was really loaned to SIML. Knowing the history of people like Fullenkamp, I'm sure there is a lot of embezzlement and forging going on with SIML. It's nothing but an insider enrichment scam.

Possibly Jon Fullenkamp (Direct Capital) was happy to take face value for the remaining balance left on some of his Notes and leave the work of getting the Notes converted into discounted free trading stock and sold into the market to Edward Bronson (V2IP Inc).

How many times is FINRA going to allow such a scammy ticker like SIML that has never been anything but a vehicle for dilution to line the pockets of people like Jon Fullenkamp to keep doing reverse splits?


As far as "extinguishing" a debt goes.

Extinguished doesn't mean a Note was cancelled without receiving anything in return. It just means it is no longer on the balance sheet. This could be because the Note was converted into free trading stock as a way off paying back the Note, or was paid back in cash, or some other asset was given to the Note holder in exchange for the cancellation of the debt.


I'll go head and take a closer look at SIML now.....

I see from the most recent 10Q that Jon Fullenkamp assigned himself the interest in an oil&gas property that SIML valued at $7,026,066 in exchange for Direct Capital cancelling $1,685,842 in debt.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11547824

That interest in that property was originally brought under control of SIML (which was then known as Grid Petroleum GRPR) when it acquired control of a Nevada entity named Joaquin Basin Resources Inc in 2011 in exchange for 62,000,000 shares of common stock and 2,076,324 shares of our convertible preferred stock making Joaquin Basin Resources Inc a wholly owned subsidiary of SIML.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7671243

Just ahead of the acquisition, GRPR had a change of control with Tim Deherrera taking over as the Chairman and James Powell taking over as the CEO. Deherrera was a business partner of Jon Fullenkamp. The two of them were involved in another entity together called Guijarral Resources Exploration Ltd

https://beta.companieshouse.gov.uk/company/07262240/filing-history?page=2

Joaquin Basin Resources Inc which was mispelled in the SIML/GRPR SEC filing is actually Joaquin Basin Resource Inc, a Nevada entity that was incorporated a few months earlier by Lucian Gago, a broker of some sort out of Florida with a spotty record

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=0RrlsQ5SjhhwbgcxMK7VFA%253d%253d

The shares were split up evenly between 10 offshore entities obviously used to hide the ownership of those shares as part of some kind of money laundering operation. Notice one of the entities in Nevis was named Direct Capital Group Inc.

MIH Holdings (Zurich, Switzerland) - 6,200,000 common shares and 519,080 convertible preferred shares

Armitage S.A (Nevis) - 6,200,000 common shares and 519,080 convertible preferred shares

Kane Assetts S.A. (Zurich, Switzerland) - 6,200,000 common shares and 519,080 convertible preferred shares

Loreto International Inc. (Zurich, Switzerland) - 6,200,000 common shares and 519,080 convertible preferred shares

Watermark Holdings Inc (Belize using a popular Robert Bandfield/Andrew Godfrey address) - 6,200,000 common shares and 519,080 convertible preferred shares

Pea Soup Inc (Belize using a popular Robert Bandfield/Andrew Godfrey address) - 6,200,000 common shares and 519,080 convertible preferred shares

Four winds Trading Inc (Nevis) - 6,200,000 common shares and 519,080 convertible preferred shares

Direct Capital Group Inc (Nevis) - 6,200,000 common shares and 519,080 convertible preferred shares

Highlander Overseas Inc (West Indies) - 6,200,000 common shares and 519,080 convertible preferred shares

Geotech International Ltd (West Indies) - 6,200,000 common shares and 519,080 convertible preferred shares


Those 2,076,324 convertible preferred shares converted into 200 common shares each for a total of 415,264,800 common shares.

You can just imagine how much money was laundered through those offshore accounts when all those shares were sold into the market.


Some of those offshore entities also showed up involved in Force Minerals Corp (FORC) which had Tim Deherrera as the CEO starting in 2010. FORC had tons of debt Notes. Some belonging to Direct Capital, some belonging to Syndication Capital, and some they never disclosed who the Notes belonged to

https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001333563

http://www.otcmarkets.com/stock/FORC/profile

FORC got diluted down to no bid reverse split and diluted down to no bid again (sound familar?)

theOTC.today did a nice summary of some of the links between FORC and GRPR/SIML

http://www.theotc.today/2014/01/the-dubious-connections-behind-revamped.html


According to the SIML filings, at the time that SIML acquired Joaquin Basin Resources Inc, Joaquin had a 50% working interest in the property. That 50% working interest was acquired by Joaquin from a company called Xploration Inc.

Look who owned Xploration Inc

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=MdRNwnQGiQURmH55CQuGQg%253d%253d&nt7=0

Joe Fullenkamp

So Joe Fullenkamp kept 50% working interesting and assigned half of the working interest to SIML/GRPR)

Since the property came from an entity that listed Joe Fullenkamp as the sole officer/director, how much of that money made by those 10 offshore entities do you think went into the pockets of Jon Fullenkamp? How much do you think went to Tim Pinchin? How much to Dhugald Pinchin? How much to Tim Deherrera?


A few months later Joaquin Basin Resources Inc's working interest in the property was reduced to 30%. So 70% belonged to Xploration Inc (Fullenkamp) and 30% belonged to SIML/GRPR.

At one point in 2013 that property was swapped out for another property

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9664099

But that swap doesn't change where the asset originally came from = Joe Fullenkamp

Over the next few years, SIML spent millions of dollar on operation costs consisting of things like consulting fees and management fees and some fees related to the property, but never yielded a penny in revenues from the property. With no cash on hand they had to borrow the money they used for the "operational costs". Most of the money came from Direct Capital, Syndication Capital, Xploration Inc, and Special Situations Corp - 4 entities all associated with Jon Fullenkamp (back then I think Tim Pinchin was partners with Jon Fullenkamp in Direct Capital and Syndication Capital was run by Tim Pinchin and Dhugald Pinchin who were involved in the debt/dilution scheme run on Fullenkamp's Victory Energy (VYEY)).

From March 31, 2012 to March 31, 2013 alone over $1,246,000 in debt owed to those three entities was created.

From March 31, 2013 to March 31, 2014 another $532,000 in debt owed to Direct Capital and Syndication Capital was created.

From March 31, 2014 to March 31, 2015 another $1,106,000 in debt owed to Direct Capital and Syndication Capital was created.

I'm not convinced that $2,884,000 actually changed hands during those 3 years, but we'll just pretend it did as the filings say.

At the end of 2010 before Fullenkamp got involved in this ticker, there were 65,791,078 shares outstanding. By March 31, 2015 the outstanding share count had ballooned to 6,898,408,070 shares with a huge chunk of those shares going through the hands of Jon Fullenkamp before hitting the market.

In September 2015, SIML did a 1:1000 reverse split and the dilution started all over again.

After that reverse split there were 66,898,451 shares outstanding. By June 30, 2016, the outstanding share count had ballooned again to 4,579,478,015 shares outstanding with most of the shares going through the hands of Jon Fullenkamp before hitting the market.

In July 2016, SIML did a 1:1000 reverse split.

The dilution will start all over again.

There is so much debt that it will need another reverse split in the future which I get the feeling Jon Fullenkamp isn't expecting to happen since he pulling the oil & gas asset out.

It's all pretty sick when you think about it. Fullenkamp and his buddies get control of the ticker. Assign some working interest in some property to the ticker. The property doesn't yield even a penny in revenues but causes 6.8 billion shares to be diluted followed by a 1:1000 reverse split then another 4.8 billion shares to be diluted followed by another 1:1000 reverse split and now the interest in the property is gone and this one is eventually going to end up on no bid where it will get stuck forever this time.

I'm sure that same property will turn up again in another ticker down the road with Fullenkamp paying himself more than $1,685,842 in Shares to assign the property to that new ticker followed by tons more debt for "operational costs" to go with the property. That debt will then get used for another dilution scam by being turned into millions of dollars of free trading stock and dumped into the market exactly like what happened with SIML/GRPR

It's a vicious cycle. Fullenkamp sells the proper to one ticker getting millions of dollars worth of stock spread out between 10 offshore entities. That stock is sold into the market for millions of dollars. He then gets a ton of debt assigned to himself for "payments" he gives the ticker to help with business operations. Much of that debt is used to create discounted free trading stock which he dumps into the market making tons more money then later he extinguishes some of the remaining debt as a way of assigning the property back to himself. Now he can start the whole cycle again on another ticker.

In my opinion he belongs in jail.