The Solimar part is quite shady, as Solimar usually never reveals any details about JV's. Difficult to check though (once I emailed Solimar about cooperation with Grid, but without any response). If those claims from Grid being part of this JV are justified and to which extent, cannot be checked with Solimar's confirmation.
Ask yourself this question: What does Solimar has to win with a cooperation with Grid? What has Grid to offer to Solimar? I already know the answer.
Second part that we cannot really estimate is the real value of the claimed leases, if any. They could have some worthless area at the edge of the oil field, where it is impossible to drill, or even hardly any oil found. There are no samples available, nor do we have any specific details from Grid's side to give some more (technical) information about the area, wells or any other info that comes around with preparation, operations and distribution. Grid gives us no reason to grant them some credibility. Or "the benefit of the doubt". All things they PR'd are without substance and only effect we could see is Grid dumping numerous shares in the market.
Did you ever think of what they accomplished with around 2 Billion shares already sold in the market? You would expect it would be enough to buy at least ONE drilling machine or do some extensive area research so they know where to drill, but they have even accomplished none. All they have is a presentation about the area every tourist passing by could have made.
What you told about SEC filings.. you really think the SEC checks everything? That would mean there are hardly any scams around there. Which obviously is not the case. Remember SAEI? They were doing filings too and fully reporting. Until they were finally busted for fraud. Could happen to GRPR as well eventually.
Beside that, why is Grid the only one to file these lease exchanges? Wouldn't you think the other parties would have to do the same? Why is there no filing from Solimar's side? Sure, they are listed on other exchanges, but still they should have filed those kind of material events in their case as well I suppose.
All of the filings and other events only come from Grid's side. Never can you get confirmation two-ways. And that's quite suspicious.
If you count all red flags, I can just not understand why people claim to have done their DD and give the company still support. It is based on nothing!
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