Team Resources, Inc.

Response by Team Resources Inc,
Complaint #
class="MsoNormal" "margin: 0in 0in 8pt;">Team Resources Inc., does hereby acknowledge that complainant did in fact acquire a one half unit share in the amount of $34,in the Grand Summit Fund I, LP PartnershipHis one half unit purchase of working interest in eight wells proposed by the Partnership was accepted by the Managing General Partner (Team Resources, Inc.) December 20,
SUMMARY OF THE OFFERING
The Partnership: Grand Summit Fund I, LP is a Delaware limited partnership formed on August 1, (the “Partnership”).
The Managing General
Partner/Issuer: Team Resources, Inc., a California corporation formed in December will be the sole Managing General Partner (the “Managing General Partner”) of the Partnership
The Business Objective: The business objective of the Partnership is to acquire a fractional undivided working interest (the “Working Interest”) and a net revenue interest (“Net Revenue Interest”) in up to eight oil and gas wells (the “Wells”) to be drilled in the State of Kansas.
The business objectives of the Partnership were in fact all completedCommunication with complainant has been well documented throughout the drilling, completion efforts of all eight wells in which the Partnership participatedIn addition to these prior communications, results of the drilling and completion of said wells were shared with complainant on several occasions; these dates being September 30, 2011, December 8, 2011, December 17, and September 10, with the latest Partnership update being sent to complainant January 14, (which accompanied the Partnership accounting status through December 31, 2013).
Team Resources, Inc claims and understood that he made the decision to invest in this partnership as stated in the PPM, Complainant was to rely solely on the PPM and exhibits which accompanied the PPM for his bases in investment of Partnership units
As noted in the front of the PPM (as well as throughout the risk disclosures of the PPM)
FORWARD LOOKING STATEMENTS
The statements contained in this Memorandum, which are not historical facts are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995, as amended), which can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should” or “anticipates,” or the negative thereof, or other variations thereon or comparable words, or by discussion of strategy that involve risks and uncertainties
The Issuer wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the development of the Partnership’s business, the markets for its services, the Partnership’s anticipated sources of financing and capital expenditures, future regulation of the Partnership’s business, and other statements contained herein regarding matters that are not historical facts, are only predictions. No assurances can be given that such predictions will prove correct or that the anticipated future results will be achieved; actual events or results may differ materially, either because one or more of such predictions provide to be erroneous, or as a result of risks facing the Partnership. Such risks include in part, but are not limited to, the Partnership’s inability to market its services to new customers, to manage growth, to obtain required permits and authorizations in a timely manner, and regulatory, legislative and judicial developments that could cause actual results to differ materially from the future results indicated, expressed or implied in such forward-looking statements
INVESTMENT IN THE PARTNERSHIP UNITS INVOLVES A HIGH DEGREE OF RISK AND IS SUITABLE ONLY FOR THOSE INVESTORS WHO HAVE SUBSTANTIAL FINANCIAL RESOURCES IN RELATION TO THEIR INVESTMENT AND WHO UNDERSTAND THE PARTICULAR RISK FACTORS OF THIS INVESTMENT. IN ADDITION, INVESTMENT IN THE PARTNERSHIP UNITS IS SUITABLE ONLY FOR AN INVESTOR WHO DOES NOT NEED LIQUIDITY IN HIS INVESTMENT AND IS WILLING TO ACCEPT RESTRICTIONS ON THE TRANSFER OF THE PARTNERSHIP UNITS
FOR RESIDENTS OF ALL STATES
AN INVESTMENT IN THE PARTNERSHIP IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF FINANCIAL RISK. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN. PROJECTIONS MAY BE CONTAINED IN THIS MEMORANDUM AND ANY OTHER PROJECTIONS, WHICH DO NOT CONFORM TO THOSE IN THIS OFFERING DOCUMENT, SHOULD BE DISREGARDED. EVERY INVESTOR SHOULD BE AWARE THAT THE PARTNERSHIP HAS NO OBLIGATION, NOR DOES IT INTEND, TO REPURCHASE THE UNITS FROM INVESTORS IN THE EVENT THAT, FOR ANY REASON, AN INVESTOR WISHES TO TERMINATE THE INVESTMENT
Finally: Acknowledged by Complainant in Exhibit “B” of the Partnership Agreement
EXHIBIT B
SUBSCRIPTION AGREEMENT
Grand Summit Fund I, LP
b. Analysis of Investment. Subscriber acknowledges that it has received full and fair disclosure and carefully considered each of the following items in its entirety relating to the Partnership’s offering of investments in the Partnership (the “Offering”): (i) the form of Partnership Agreement of the Partnership and (ii) the Confidential Private Placement Memorandum (the “Memorandum,” and collectively, the “Offering Materials”). Subscriber also acknowledges that it has received and carefully considered all answers to any questions the Subscriber submitted to the Partnership regarding an investment in the Partnership and any other written information provided by the Partnership prior to the investment, including information that the Subscriber deemed necessary to verify the accuracy and completeness of the Partnership’s representations included in this Subscription Agreement. The Subscriber further acknowledges and agrees that the Subscriber has been given access to, or has been furnished with, all material books and records of the Partnership and all material contracts and documents related to the proposed transaction that Subscriber has requested to review in order to evaluate the merits and risks of this investment. All of Subscriber’s questions have been answered, and all such additional information has been provided, to the full satisfaction of the Subscriber, none of which answers or additional information is in any way inconsistent with the written information provided to the Subscriber
e. No Other Representations. Except as set forth in the Offering Materials and the exhibits thereto, no representations or warranties, oral or otherwise, have been made to the Subscriber by the Partnership, or any officer, director, representative, agent, employee or affiliate of the Partnership, or any other person, whether or not associated with this Offering, and in entering into this transaction the Subscriber is not relying upon any representations, warranties or information other than those contained in the Offering Materials and the exhibits thereto and the results of the Subscriber’s own independent investigation
Subject: Website - Displayed Partnership homepage only and was a password protected Partnership websiteThe PPM and Exhibits could only be viewed if Complainant requested password
Subject: K-Matter - All K-1s pertaining to this Partnership have in fact have been completed and mailed to complainant
Respectfully submitted,
*** ***
Managing General Partner Grand Summit Fund I, LP
President / Team Resources Inc

Complaint: 10106463
I am rejecting this response because:My faith in your claims would be greatly enhanced by my receiving from you official documents, receipts, invoices, work orders and bank statements, ( the kind of paperwork a tax auditor or private investigator would want to see) to prove me wrong and that you really are a fine upstanding company. I don't care about what has already been sent. I've seen those already.
Regards,
[redacted]

mso-fareast-font-family: 'Times New Roman'; mso-font-width: 105%; mso-font-kerning: 14.0pt; mso-bidi-font-weight: bold; mso-bidi-font-style: italic;">
 
                        Re: Team Resources, Inc. Response to Complaint ID # 9900496
 
Team Resources, Inc. and K[redacted] B[redacted] deny vigorously the spurious and untruthful allegations in the complaint, which, at best, reflects communication of untrue information and a fundamental misunderstanding of the investment.
 
In January 2011, the complainant subscribed to purchase and acquired a one-unit share in the Grand Summit Fund I, LP Partnership, a Delaware limited partnership (“Partnership”).  The complainant did pay the amount of $68,500, which was the per-unit cost, for the one unit.  That one unit purchase represented a one-unit working interest in eight wells proposed by the Partnership.  The Partnership achieved its objectives, meaning that it did purchase a working interest in eight wells in the state of Kansas, and the Partnership did cause to be drilled the eight wells.  The Complainant, along with all other investors in the Partnership, received updates about the results of the completion of the wells and the drilling in periodic written updates.  The dates of the most recent updates, each of which Team Resources sent to the Complainant, were September 30, 2011, December 8, 2011, December 17, 2012, September 10, 2013 and January 14, 2014.  The most recent update accompanied the Partnership accounting status through December 31, 2013.  The Partnership complied fully with its reporting requirements.
 
Before the Complainant invested, the Complainant received a detailed private placement memorandum (“PPM”) describing the nature of the investment and expert information upon which Team Resources relied in the selection of where the wells would be drilled.  More importantly, the PPM included robust, detailed and comprehensive disclosures setting forth the risks associated with investing oil and gas partnership offerings.  Before Team Resources accepted the Complainant’s subscription, the Complainant signed a disclosure document (the name of the document is a Subscription Agreement) acknowledging that he read and understood the PPM, and the PPM and accompanying corporate documents and representations was the information upon which the Complainant relied in his decision to invest.  If the Complainant had not signed the Subscription Agreement, which reflected these acknowledgments, then Team Resources would not have accepted the subscription or allowed the Complainant to invest.  The point is the Complainant invested with full disclosure and knowledge of any risks attendant to the investment.
 
In order to give you some idea of the nature of the disclosures, I am providing you with some excerpts from the PPM, which alone, not including the Partnership Agreement and the Subscription Agreement, is 55 pages long.  Some of the disclosures, that the Complainant acknowledged reading, understanding and relying on, included the following:
 
The Issuer wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the development of the Partnership’s business, the markets for its services, the Partnership’s anticipated sources of financing and capital expenditures, future regulation of the Partnership’s business, and other statements contained herein regarding matters that are not historical facts, are only predictions.  No assurances can be given that such predictions will prove correct or that the anticipated future results will be achieved; actual events or results may differ materially, either because one or more of such predictions provide to be erroneous, or as a result of risks facing the Partnership.
 
AN INVESTMENT IN THE PARTNERSHIP IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF FINANCIAL RISK.  ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN.  PROJECTIONS MAY BE CONTAINED IN THIS MEMORANDUM AND ANY OTHER PROJECTIONS, WHICH DO NOT CONFORM TO THOSE IN THIS OFFERING DOCUMENT, SHOULD BE DISREGARDED.  EVERY INVESTOR SHOULD BE AWARE THAT THE PARTNERSHIP HAS NO OBLIGATION, NOR DOES IT INTEND, TO REPURCHASE THE UNITS FROM INVESTORS IN THE EVENT THAT, FOR ANY REASON, AN INVESTOR WISHES TO TERMINATE THE INVESTMENT.
 
If you are interested in viewing the entire disclosure document, including the 11 pages of risk disclosures found on pages 8-18, then please let us know and we will provide you with a copy.  The capitalized lettering is exactly how the language appears in the PPM.
 
Additionally, the specific document that the Complainant signed, which is titled the Subscription Agreement, had its own disclosures that reflected the Complainant’s clear acknowledgment and understanding of the risk.  Sample language from the Subscription Agreement is as follows:
 
Analysis of Investment. Subscriber acknowledges that it has received full and fair disclosure and carefully considered each of the following items in its entirety relating to the Partnership’s offering of investments in the Partnership (the “Offering”):  (i) the form of Partnership Agreement of the Partnership and (ii) the Confidential Private Placement Memorandum (the “Memorandum,” and collectively, the “Offering Materials”).  Subscriber also acknowledges that it has received and carefully considered all answers to any questions the Subscriber submitted to the Partnership regarding an investment in the Partnership and any other written information provided by the Partnership prior to the investment, including information that the Subscriber deemed necessary to verify the accuracy and completeness of the Partnership’s representations included in this Subscription Agreement.  The Subscriber further acknowledges and agrees that the Subscriber has been given access to, or has been furnished with, all material books and records of the Partnership and all material contracts and documents related to the proposed transaction that Subscriber has requested to review in order to evaluate the merits and risks of this investment.  All of Subscriber’s questions have been answered, and all such additional information has been provided, to the full satisfaction of the Subscriber, none of which answers or additional information is in any way inconsistent with the written information provided to the Subscriber.
No Other Representations.  Except as set forth in the Offering Materials and the exhibits thereto, no representations or warranties, oral or otherwise, have been made to the Subscriber by the Partnership, or any officer, director, representative, agent, employee or affiliate of the Partnership, or any other person, whether or not associated with this Offering, and in entering into this transaction the Subscriber is not relying upon any representations, warranties or information other than those contained in the Offering Materials and the exhibits thereto and the results of the Subscriber’s own independent investigation.
 
If you are interested in viewing the entire Subscription Agreement, then please let us know and we will provide you with a copy. 
 
Finally, Team Resources also dismisses altogether Complainant’s claims that he “made the decision to invest with this company” based on Team Resources or “Alexander Haig our former Secretary of State are claiming to be fully accredited by your organization” and/or “your endorsement” as Team was “a business in good standing with the Revdex.com”.  First, the representation regarding “Alexander Haig” is a creative and entirely untrue statement by Complainant.  The only statements, as discussed above, upon which the Complainant, or any investor, was to and signed that he did rely were those in-writing and in the PPM and exhibits which accompanied the PPM.  Team Resources is aware fully that the Revdex.com does not endorse securities offerings, and Team Resources never made any such representation.
 
The point is the Complainant made a fully-informed investment, and Team Resources made all proper disclosures in the robust disclosure document prepared by its lawyers and acknowledged by the Complainant.  It always is regrettable when an investment does not achieve the objectives of the investor.  More regrettable is when a disappointed investor writes untruthful or incomplete statements to you, the Revdex.com, for the sole purpose of harassing companies that do comply with all disclosure requirements associated with the subject offering.  I trust that this information is sufficient for you to dismiss the scurrilous and baseless complaint.
 
If there is any additional information that we can provide, please let me know.
 
Respectfully submitted,
 
 
K[redacted] A. B[redacted]

Complaint: 10106463
I am rejecting this response because:  Every investment has a legal disclaimer. Honest companies use them for protection from fraudulent customers. Other companies use them as protection for their fraudulent activities. As for the missing K-1 it arrived the same day after I submitted my complaint, about 3 months late of tax deadline forcing me to file an extension with the IRS which cost me even more money. Even if the SEC investigation comes up with little to help the investors involved, it doesn't mean that something unethical didn't happen. It would have been so much simpler if I had just had my money refunded.
Response by Team Resources Inc,
Complaint #10106463.
Again Team Resources Inc., does hereby acknowledge that complainant did in fact acquire a one half unit share in the amount of $34,250 in the Grand Summit Fund I, LP Partnership. His one half unit purchase of working interest in eight wells proposed by the Partnership was accepted by the Managing General Partner (Team Resources, Inc.) December 20, 2010.
SUMMARY OF THE OFFERING
The Partnership:    Grand Summit Fund I, LP is a Delaware limited partnership formed on August 1, 2010 (the “Partnership”). 
The Managing General
Partner/Issuer: Team Resources, Inc., a California corporation formed in December 2002 will be the sole Managing General Partner (the “Managing General Partner”) of the Partnership.
The Business Objective:   The business objective of the Partnership is to acquire a fractional undivided working interest (the “Working Interest”) and a net revenue interest (“Net Revenue Interest”) in up to eight oil and gas wells (the “Wells”) to be drilled in the State of Kansas. 
The business objectives of the Partnership were in fact all completed. All of the Partnership wells were drilled at locations selected by and recommended by Teams field expert (consulting Geologist) additionally completed at the recommendation of Teams field expert. Teams field expert has a PHD in geology, taught geology until recently at a University and currently consults for Major oil companies. Complainants communication consisted of approximately eighteen updates and has been well documented throughout the drilling, completion efforts of all eight wells in which the Partnership participated. In addition to these prior communications, results of the drilling and completion of said wells were shared with complainant on several occasions; these dates being September 30, 2011, December 8, 2011, December 17, 2012 and September 10, 2013 with the latest Partnership update being sent to complainant January 14, 2014 (which accompanied the Partnership accounting status through December 31, 2013). 
Subject: K-1 Matter
All K-1s pertaining to this Partnership have in fact have been completed and mailed to and received by complainant as he noted. The Partnership returns and subsequent K-1s are generated by a third party outsourced CPA firm in which Team has no control over completion dates.  In review of complainants prior K-1s provided - his investment capital account (write off) was zeroed out effective year 2011 and updates provided by Team to Complainant stated that NO distributions to the partnership would occur. Thus Team does not understand how an extension or a K-1 received by Complainant which reflects the above would have had any negative impact on Complainants personal tax return.  
Team does wish that the Partnership wells would have had better results for Complainant, other investors as well as Team however the wells were commercially unsuccessful.
As noted in the front of the PPM (as well as throughout the risk disclosures of the PPM)
Again, Team Resources, Inc claims that he made the decision to invest in this partnership as stated in the PPM, Complainant was to rely solely on the PPM and exhibits which accompanied the PPM for his bases in investment of Partnership units.  Complainant signed the agreements stating this fact of understanding.
 
TEAM RESOURCES WOULD CAN PROVIDE THE Revdex.com THE FULL PPM / EXHIBITS FOR REVIEW IN THE EVENT THE Revdex.com SO REQUEST.
 
FORWARD LOOKING STATEMENTS
The statements contained in this Memorandum, which are not historical facts are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995, as amended), which can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should” or “anticipates,” or the negative thereof, or other variations thereon or comparable words, or by discussion of strategy that involve risks and uncertainties.
The Issuer wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the development of the Partnership’s business, the markets for its services, the Partnership’s anticipated sources of financing and capital expenditures, future regulation of the Partnership’s business, and other statements contained herein regarding matters that are not historical facts, are only predictions.  No assurances can be given that such predictions will prove correct or that the anticipated future results will be achieved; actual events or results may differ materially, either because one or more of such predictions provide to be erroneous, or as a result of risks facing the Partnership.  Such risks include in part, but are not limited to, the Partnership’s inability to market its services to new customers, to manage growth, to obtain required permits and authorizations in a timely manner, and regulatory, legislative and judicial developments that could cause actual results to differ materially from the future results indicated, expressed or implied in such forward-looking statements.
INVESTMENT IN THE PARTNERSHIP UNITS INVOLVES A HIGH DEGREE OF RISK AND IS SUITABLE ONLY FOR THOSE INVESTORS WHO HAVE SUBSTANTIAL FINANCIAL RESOURCES IN RELATION TO THEIR INVESTMENT AND WHO UNDERSTAND THE PARTICULAR RISK FACTORS OF THIS INVESTMENT.  IN ADDITION, INVESTMENT IN THE PARTNERSHIP UNITS IS SUITABLE ONLY FOR AN INVESTOR WHO DOES NOT NEED LIQUIDITY IN HIS INVESTMENT AND IS WILLING TO ACCEPT RESTRICTIONS ON THE TRANSFER OF THE PARTNERSHIP UNITS.
FOR RESIDENTS OF ALL STATES
AN INVESTMENT IN THE PARTNERSHIP IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF FINANCIAL RISK.  ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN.  PROJECTIONS MAY BE CONTAINED IN THIS MEMORANDUM AND ANY OTHER PROJECTIONS, WHICH DO NOT CONFORM TO THOSE IN THIS OFFERING DOCUMENT, SHOULD BE DISREGARDED.  EVERY INVESTOR SHOULD BE AWARE THAT THE PARTNERSHIP HAS NO OBLIGATION, NOR DOES IT INTEND, TO REPURCHASE THE UNITS FROM INVESTORS IN THE EVENT THAT, FOR ANY REASON, AN INVESTOR WISHES TO TERMINATE THE INVESTMENT.
Finally: Acknowledged by Complainant in Exhibit “B” of the Partnership Agreement
EXHIBIT B
SUBSCRIPTION AGREEMENT
Grand Summit Fund I, LP
4 b.         Analysis of Investment.  Subscriber acknowledges that it has received full and fair disclosure and carefully considered each of the following items in its entirety relating to the Partnership’s offering of investments in the Partnership (the “Offering”):  (i) the form of Partnership Agreement of the Partnership and (ii) the Confidential Private Placement Memorandum (the “Memorandum,” and collectively, the “Offering Materials”).  Subscriber also acknowledges that it has received and carefully considered all answers to any questions the Subscriber submitted to the Partnership regarding an investment in the Partnership and any other written information provided by the Partnership prior to the investment, including information that the Subscriber deemed necessary to verify the accuracy and completeness of the Partnership’s representations included in this Subscription Agreement.  The Subscriber further acknowledges and agrees that the Subscriber has been given access to, or has been furnished with, all material books and records of the Partnership and all material contracts and documents related to the proposed transaction that Subscriber has requested to review in order to evaluate the merits and risks of this investment.  All of Subscriber’s questions have been answered, and all such additional information has been provided, to the full satisfaction of the Subscriber, none of which answers or additional information is in any way inconsistent with the written information provided to the Subscriber.
e.            No Other Representations.  Except as set forth in the Offering Materials and the exhibits thereto, no representations or warranties, oral or otherwise, have been made to the Subscriber by the Partnership, or any officer, director, representative, agent, employee or affiliate of the Partnership, or any other person, whether or not associated with this Offering, and in entering into this transaction the Subscriber is not relying upon any representations, warranties or information other than those contained in the Offering Materials and the exhibits thereto and the results of the Subscriber’s own independent investigation.
Respectfully submitted,
[redacted]

I have lost $332,000 with these people. Other individuals I have spoken with have lost their investments too.
WARNING: See the Securities Exchange Commission Civil Action Case Number [redacted]dated 04-06-2015 filed in the United States District Court, Northern District of Texas, Dallas Division.
My personal opinion is that Messrs. Boyles, Oliva, Dressner, Eppy and Stitt (the Defendants) make Bernie Madoff look like an amateur.

Review: These people including Alexander Haig our former Secretary of State are claiming to be fully accredited by your organization. They have cheated every investor for every cent ,including myself, and you are associated with them in their ads. would appreciate you making them accountable for your namesake. thank you. [redacted]Desired Settlement: I would like to have my investment money back. I made the decision to invest with this company based on, in part, your endorsement as a business in good standing with the Revdex.com.

Business

Response:

Re: Team Resources, Inc. Response to Complaint ID # 9900496

Team Resources, Inc. and K[redacted] deny vigorously the spurious and untruthful allegations in the complaint, which, at best, reflects communication of untrue information and a fundamental misunderstanding of the investment.

In January 2011, the complainant subscribed to purchase and acquired a one-unit share in the Grand Summit Fund I, LP Partnership, a Delaware limited partnership (“Partnership”). The complainant did pay the amount of $68,500, which was the per-unit cost, for the one unit. That one unit purchase represented a one-unit working interest in eight wells proposed by the Partnership. The Partnership achieved its objectives, meaning that it did purchase a working interest in eight wells in the state of Kansas, and the Partnership did cause to be drilled the eight wells. The Complainant, along with all other investors in the Partnership, received updates about the results of the completion of the wells and the drilling in periodic written updates. The dates of the most recent updates, each of which Team Resources sent to the Complainant, were September 30, 2011, December 8, 2011, December 17, 2012, September 10, 2013 and January 14, 2014. The most recent update accompanied the Partnership accounting status through December 31, 2013. The Partnership complied fully with its reporting requirements.

Before the Complainant invested, the Complainant received a detailed private placement memorandum (“PPM”) describing the nature of the investment and expert information upon which Team Resources relied in the selection of where the wells would be drilled. More importantly, the PPM included robust, detailed and comprehensive disclosures setting forth the risks associated with investing oil and gas partnership offerings. Before Team Resources accepted the Complainant’s subscription, the Complainant signed a disclosure document (the name of the document is a Subscription Agreement) acknowledging that he read and understood the PPM, and the PPM and accompanying corporate documents and representations was the information upon which the Complainant relied in his decision to invest. If the Complainant had not signed the Subscription Agreement, which reflected these acknowledgments, then Team Resources would not have accepted the subscription or allowed the Complainant to invest. The point is the Complainant invested with full disclosure and knowledge of any risks attendant to the investment.

In order to give you some idea of the nature of the disclosures, I am providing you with some excerpts from the PPM, which alone, not including the Partnership Agreement and the Subscription Agreement, is 55 pages long. Some of the disclosures, that the Complainant acknowledged reading, understanding and relying on, included the following:

The Issuer wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the development of the Partnership’s business, the markets for its services, the Partnership’s anticipated sources of financing and capital expenditures, future regulation of the Partnership’s business, and other statements contained herein regarding matters that are not historical facts, are only predictions. No assurances can be given that such predictions will prove correct or that the anticipated future results will be achieved; actual events or results may differ materially, either because one or more of such predictions provide to be erroneous, or as a result of risks facing the Partnership.

AN INVESTMENT IN THE PARTNERSHIP IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF FINANCIAL RISK. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN. PROJECTIONS MAY BE CONTAINED IN THIS MEMORANDUM AND ANY OTHER PROJECTIONS, WHICH DO NOT CONFORM TO THOSE IN THIS OFFERING DOCUMENT, SHOULD BE DISREGARDED. EVERY INVESTOR SHOULD BE AWARE THAT THE PARTNERSHIP HAS NO OBLIGATION, NOR DOES IT INTEND, TO REPURCHASE THE UNITS FROM INVESTORS IN THE EVENT THAT, FOR ANY REASON, AN INVESTOR WISHES TO TERMINATE THE INVESTMENT.

If you are interested in viewing the entire disclosure document, including the 11 pages of risk disclosures found on pages 8-18, then please let us know and we will provide you with a copy. The capitalized lettering is exactly how the language appears in the PPM.

Additionally, the specific document that the Complainant signed, which is titled the Subscription Agreement, had its own disclosures that reflected the Complainant’s clear acknowledgment and understanding of the risk. Sample language from the Subscription Agreement is as follows:

Analysis of Investment. Subscriber acknowledges that it has received full and fair disclosure and carefully considered each of the following items in its entirety relating to the Partnership’s offering of investments in the Partnership (the “Offering”): (i) the form of Partnership Agreement of the Partnership and (ii) the Confidential Private Placement Memorandum (the “Memorandum,” and collectively, the “Offering Materials”). Subscriber also acknowledges that it has received and carefully considered all answers to any questions the Subscriber submitted to the Partnership regarding an investment in the Partnership and any other written information provided by the Partnership prior to the investment, including information that the Subscriber deemed necessary to verify the accuracy and completeness of the Partnership’s representations included in this Subscription Agreement. The Subscriber further acknowledges and agrees that the Subscriber has been given access to, or has been furnished with, all material books and records of the Partnership and all material contracts and documents related to the proposed transaction that Subscriber has requested to review in order to evaluate the merits and risks of this investment. All of Subscriber’s questions have been answered, and all such additional information has been provided, to the full satisfaction of the Subscriber, none of which answers or additional information is in any way inconsistent with the written information provided to the Subscriber.

No Other Representations. Except as set forth in the Offering Materials and the exhibits thereto, no representations or warranties, oral or otherwise, have been made to the Subscriber by the Partnership, or any officer, director, representative, agent, employee or affiliate of the Partnership, or any other person, whether or not associated with this Offering, and in entering into this transaction the Subscriber is not relying upon any representations, warranties or information other than those contained in the Offering Materials and the exhibits thereto and the results of the Subscriber’s own independent investigation.

If you are interested in viewing the entire Subscription Agreement, then please let us know and we will provide you with a copy.

Finally, Team Resources also dismisses altogether Complainant’s claims that he “made the decision to invest with this company” based on Team Resources or “Alexander Haig our former Secretary of State are claiming to be fully accredited by your organization” and/or “your endorsement” as Team was “a business in good standing with the Revdex.com”. First, the representation regarding “Alexander Haig” is a creative and entirely untrue statement by Complainant. The only statements, as discussed above, upon which the Complainant, or any investor, was to and signed that he did rely were those in-writing and in the PPM and exhibits which accompanied the PPM. Team Resources is aware fully that the Revdex.com does not endorse securities offerings, and Team Resources never made any such representation.

The point is the Complainant made a fully-informed investment, and Team Resources made all proper disclosures in the robust disclosure document prepared by its lawyers and acknowledged by the Complainant. It always is regrettable when an investment does not achieve the objectives of the investor. More regrettable is when a disappointed investor writes untruthful or incomplete statements to you, the Revdex.com, for the sole purpose of harassing companies that do comply with all disclosure requirements associated with the subject offering. I trust that this information is sufficient for you to dismiss the scurrilous and baseless complaint.

If there is any additional information that we can provide, please let me know.

Respectfully submitted,

K[redacted] A. B[redacted]

I have lost $332,000 with these people. Other individuals I have spoken with have lost their investments too.

WARNING: See the Securities Exchange Commission Civil Action Case Number [redacted]dated 04-06-2015 filed in the United States District Court, Northern District of Texas, Dallas Division.

My personal opinion is that Messrs. Boyles, Oliva, Dressner, Eppy and Stitt (the Defendants) make Bernie Madoff look like an amateur.

Review: I found [redacted] website on the internet. It was promoted as a reasonable risk. "King Sands" were found they said, (meaning they had found a motherlode of oil). I wanted to make a reasonable-risk investment. After all, they had indicated that the oil was already there. I gave them about $34,000.00. That was 3 years ago. I've received virtualy nothing back and he says they'll have to give up because they cant't get oil. The project was the Grand Summit Fund. I can't even finish my taxes because they can't seem to get the K-1's finished and it's June. Had I known I was being mislead I would never have joined.Desired Settlement: A check for the exact amount that I invested immediatly.

Business

Response:

Response by Team Resources Inc,

Complaint #10106463.

Team Resources Inc., does hereby acknowledge that complainant did in fact acquire a one half unit share in the amount of $34,250 in the Grand Summit Fund I, LP Partnership. His one half unit purchase of working interest in eight wells proposed by the Partnership was accepted by the Managing General Partner (Team Resources, Inc.) December 20, 2010.

SUMMARY OF THE OFFERING

The Partnership: Grand Summit Fund I, LP is a Delaware limited partnership formed on August 1, 2010 (the “Partnership”).

The Managing General

Partner/Issuer: Team Resources, Inc., a California corporation formed in December 2002 will be the sole Managing General Partner (the “Managing General Partner”) of the Partnership.

The Business Objective: The business objective of the Partnership is to acquire a fractional undivided working interest (the “Working Interest”) and a net revenue interest (“Net Revenue Interest”) in up to eight oil and gas wells (the “Wells”) to be drilled in the State of Kansas.

The business objectives of the Partnership were in fact all completed. Communication with complainant has been well documented throughout the drilling, completion efforts of all eight wells in which the Partnership participated. In addition to these prior communications, results of the drilling and completion of said wells were shared with complainant on several occasions; these dates being September 30, 2011, December 8, 2011, December 17, 2012 and September 10, 2013 with the latest Partnership update being sent to complainant January 14, 2014 (which accompanied the Partnership accounting status through December 31, 2013).

Team Resources, Inc claims and understood that he made the decision to invest in this partnership as stated in the PPM, Complainant was to rely solely on the PPM and exhibits which accompanied the PPM for his bases in investment of Partnership units.

As noted in the front of the PPM (as well as throughout the risk disclosures of the PPM)

FORWARD LOOKING STATEMENTS

The statements contained in this Memorandum, which are not historical facts are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995, as amended), which can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should” or “anticipates,” or the negative thereof, or other variations thereon or comparable words, or by discussion of strategy that involve risks and uncertainties.

The Issuer wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the development of the Partnership’s business, the markets for its services, the Partnership’s anticipated sources of financing and capital expenditures, future regulation of the Partnership’s business, and other statements contained herein regarding matters that are not historical facts, are only predictions. No assurances can be given that such predictions will prove correct or that the anticipated future results will be achieved; actual events or results may differ materially, either because one or more of such predictions provide to be erroneous, or as a result of risks facing the Partnership. Such risks include in part, but are not limited to, the Partnership’s inability to market its services to new customers, to manage growth, to obtain required permits and authorizations in a timely manner, and regulatory, legislative and judicial developments that could cause actual results to differ materially from the future results indicated, expressed or implied in such forward-looking statements.

INVESTMENT IN THE PARTNERSHIP UNITS INVOLVES A HIGH DEGREE OF RISK AND IS SUITABLE ONLY FOR THOSE INVESTORS WHO HAVE SUBSTANTIAL FINANCIAL RESOURCES IN RELATION TO THEIR INVESTMENT AND WHO UNDERSTAND THE PARTICULAR RISK FACTORS OF THIS INVESTMENT. IN ADDITION, INVESTMENT IN THE PARTNERSHIP UNITS IS SUITABLE ONLY FOR AN INVESTOR WHO DOES NOT NEED LIQUIDITY IN HIS INVESTMENT AND IS WILLING TO ACCEPT RESTRICTIONS ON THE TRANSFER OF THE PARTNERSHIP UNITS.

FOR RESIDENTS OF ALL STATES

AN INVESTMENT IN THE PARTNERSHIP IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF FINANCIAL RISK. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN. PROJECTIONS MAY BE CONTAINED IN THIS MEMORANDUM AND ANY OTHER PROJECTIONS, WHICH DO NOT CONFORM TO THOSE IN THIS OFFERING DOCUMENT, SHOULD BE DISREGARDED. EVERY INVESTOR SHOULD BE AWARE THAT THE PARTNERSHIP HAS NO OBLIGATION, NOR DOES IT INTEND, TO REPURCHASE THE UNITS FROM INVESTORS IN THE EVENT THAT, FOR ANY REASON, AN INVESTOR WISHES TO TERMINATE THE INVESTMENT.

Finally: Acknowledged by Complainant in Exhibit “B” of the Partnership Agreement

EXHIBIT B

SUBSCRIPTION AGREEMENT

Grand Summit Fund I, LP

4 b. Analysis of Investment. Subscriber acknowledges that it has received full and fair disclosure and carefully considered each of the following items in its entirety relating to the Partnership’s offering of investments in the Partnership (the “Offering”): (i) the form of Partnership Agreement of the Partnership and (ii) the Confidential Private Placement Memorandum (the “Memorandum,” and collectively, the “Offering Materials”). Subscriber also acknowledges that it has received and carefully considered all answers to any questions the Subscriber submitted to the Partnership regarding an investment in the Partnership and any other written information provided by the Partnership prior to the investment, including information that the Subscriber deemed necessary to verify the accuracy and completeness of the Partnership’s representations included in this Subscription Agreement. The Subscriber further acknowledges and agrees that the Subscriber has been given access to, or has been furnished with, all material books and records of the Partnership and all material contracts and documents related to the proposed transaction that Subscriber has requested to review in order to evaluate the merits and risks of this investment. All of Subscriber’s questions have been answered, and all such additional information has been provided, to the full satisfaction of the Subscriber, none of which answers or additional information is in any way inconsistent with the written information provided to the Subscriber.

e. No Other Representations. Except as set forth in the Offering Materials and the exhibits thereto, no representations or warranties, oral or otherwise, have been made to the Subscriber by the Partnership, or any officer, director, representative, agent, employee or affiliate of the Partnership, or any other person, whether or not associated with this Offering, and in entering into this transaction the Subscriber is not relying upon any representations, warranties or information other than those contained in the Offering Materials and the exhibits thereto and the results of the Subscriber’s own independent investigation.

Subject: Website - Displayed Partnership homepage only and was a password protected Partnership website. The PPM and Exhibits could only be viewed if Complainant requested password.

Subject: K-1 Matter - All K-1s pertaining to this Partnership have in fact have been completed and mailed to complainant.

Respectfully submitted,

Managing General Partner Grand Summit Fund I, LP

President / Team Resources Inc.

Business

Response:

Review: 10106463

I am rejecting this response because: Every investment has a legal disclaimer. Honest companies use them for protection from fraudulent customers. Other companies use them as protection for their fraudulent activities. As for the missing K-1 it arrived the same day after I submitted my complaint, about 3 months late of tax deadline forcing me to file an extension with the IRS which cost me even more money. Even if the SEC investigation comes up with little to help the investors involved, it doesn't mean that something unethical didn't happen. It would have been so much simpler if I had just had my money refunded.

Response by Team Resources Inc,

Complaint #10106463.

Again Team Resources Inc., does hereby acknowledge that complainant did in fact acquire a one half unit share in the amount of $34,250 in the Grand Summit Fund I, LP Partnership. His one half unit purchase of working interest in eight wells proposed by the Partnership was accepted by the Managing General Partner (Team Resources, Inc.) December 20, 2010.

SUMMARY OF THE OFFERING

The Partnership: Grand Summit Fund I, LP is a Delaware limited partnership formed on August 1, 2010 (the “Partnership”).

The Managing General

Partner/Issuer: Team Resources, Inc., a California corporation formed in December 2002 will be the sole Managing General Partner (the “Managing General Partner”) of the Partnership.

The Business Objective: The business objective of the Partnership is to acquire a fractional undivided working interest (the “Working Interest”) and a net revenue interest (“Net Revenue Interest”) in up to eight oil and gas wells (the “Wells”) to be drilled in the State of Kansas.

The business objectives of the Partnership were in fact all completed. All of the Partnership wells were drilled at locations selected by and recommended by Teams field expert (consulting Geologist) additionally completed at the recommendation of Teams field expert. Teams field expert has a PHD in geology, taught geology until recently at a University and currently consults for Major oil companies. Complainants communication consisted of approximately eighteen updates and has been well documented throughout the drilling, completion efforts of all eight wells in which the Partnership participated. In addition to these prior communications, results of the drilling and completion of said wells were shared with complainant on several occasions; these dates being September 30, 2011, December 8, 2011, December 17, 2012 and September 10, 2013 with the latest Partnership update being sent to complainant January 14, 2014 (which accompanied the Partnership accounting status through December 31, 2013).

Subject: K-1 Matter

All K-1s pertaining to this Partnership have in fact have been completed and mailed to and received by complainant as he noted. The Partnership returns and subsequent K-1s are generated by a third party outsourced CPA firm in which Team has no control over completion dates. In review of complainants prior K-1s provided - his investment capital account (write off) was zeroed out effective year 2011 and updates provided by Team to Complainant stated that NO distributions to the partnership would occur. Thus Team does not understand how an extension or a K-1 received by Complainant which reflects the above would have had any negative impact on Complainants personal tax return.

Team does wish that the Partnership wells would have had better results for Complainant, other investors as well as Team however the wells were commercially unsuccessful.

As noted in the front of the PPM (as well as throughout the risk disclosures of the PPM)

Again, Team Resources, Inc claims that he made the decision to invest in this partnership as stated in the PPM, Complainant was to rely solely on the PPM and exhibits which accompanied the PPM for his bases in investment of Partnership units. Complainant signed the agreements stating this fact of understanding.

TEAM RESOURCES WOULD CAN PROVIDE THE Revdex.com THE FULL PPM / EXHIBITS FOR REVIEW IN THE EVENT THE Revdex.com SO REQUEST.

FORWARD LOOKING STATEMENTS

The statements contained in this Memorandum, which are not historical facts are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995, as amended), which can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should” or “anticipates,” or the negative thereof, or other variations thereon or comparable words, or by discussion of strategy that involve risks and uncertainties.

The Issuer wishes to caution the reader that these forward-looking statements, including, without limitation, statements regarding the development of the Partnership’s business, the markets for its services, the Partnership’s anticipated sources of financing and capital expenditures, future regulation of the Partnership’s business, and other statements contained herein regarding matters that are not historical facts, are only predictions. No assurances can be given that such predictions will prove correct or that the anticipated future results will be achieved; actual events or results may differ materially, either because one or more of such predictions provide to be erroneous, or as a result of risks facing the Partnership. Such risks include in part, but are not limited to, the Partnership’s inability to market its services to new customers, to manage growth, to obtain required permits and authorizations in a timely manner, and regulatory, legislative and judicial developments that could cause actual results to differ materially from the future results indicated, expressed or implied in such forward-looking statements.

INVESTMENT IN THE PARTNERSHIP UNITS INVOLVES A HIGH DEGREE OF RISK AND IS SUITABLE ONLY FOR THOSE INVESTORS WHO HAVE SUBSTANTIAL FINANCIAL RESOURCES IN RELATION TO THEIR INVESTMENT AND WHO UNDERSTAND THE PARTICULAR RISK FACTORS OF THIS INVESTMENT. IN ADDITION, INVESTMENT IN THE PARTNERSHIP UNITS IS SUITABLE ONLY FOR AN INVESTOR WHO DOES NOT NEED LIQUIDITY IN HIS INVESTMENT AND IS WILLING TO ACCEPT RESTRICTIONS ON THE TRANSFER OF THE PARTNERSHIP UNITS.

FOR RESIDENTS OF ALL STATES

AN INVESTMENT IN THE PARTNERSHIP IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF FINANCIAL RISK. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD CONSIDER ALL OF THE RISK FACTORS DESCRIBED HEREIN. PROJECTIONS MAY BE CONTAINED IN THIS MEMORANDUM AND ANY OTHER PROJECTIONS, WHICH DO NOT CONFORM TO THOSE IN THIS OFFERING DOCUMENT, SHOULD BE DISREGARDED. EVERY INVESTOR SHOULD BE AWARE THAT THE PARTNERSHIP HAS NO OBLIGATION, NOR DOES IT INTEND, TO REPURCHASE THE UNITS FROM INVESTORS IN THE EVENT THAT, FOR ANY REASON, AN INVESTOR WISHES TO TERMINATE THE INVESTMENT.

Finally: Acknowledged by Complainant in Exhibit “B” of the Partnership Agreement

EXHIBIT B

SUBSCRIPTION AGREEMENT

Grand Summit Fund I, LP

4 b. Analysis of Investment. Subscriber acknowledges that it has received full and fair disclosure and carefully considered each of the following items in its entirety relating to the Partnership’s offering of investments in the Partnership (the “Offering”): (i) the form of Partnership Agreement of the Partnership and (ii) the Confidential Private Placement Memorandum (the “Memorandum,” and collectively, the “Offering Materials”). Subscriber also acknowledges that it has received and carefully considered all answers to any questions the Subscriber submitted to the Partnership regarding an investment in the Partnership and any other written information provided by the Partnership prior to the investment, including information that the Subscriber deemed necessary to verify the accuracy and completeness of the Partnership’s representations included in this Subscription Agreement. The Subscriber further acknowledges and agrees that the Subscriber has been given access to, or has been furnished with, all material books and records of the Partnership and all material contracts and documents related to the proposed transaction that Subscriber has requested to review in order to evaluate the merits and risks of this investment. All of Subscriber’s questions have been answered, and all such additional information has been provided, to the full satisfaction of the Subscriber, none of which answers or additional information is in any way inconsistent with the written information provided to the Subscriber.

e. No Other Representations. Except as set forth in the Offering Materials and the exhibits thereto, no representations or warranties, oral or otherwise, have been made to the Subscriber by the Partnership, or any officer, director, representative, agent, employee or affiliate of the Partnership, or any other person, whether or not associated with this Offering, and in entering into this transaction the Subscriber is not relying upon any representations, warranties or information other than those contained in the Offering Materials and the exhibits thereto and the results of the Subscriber’s own independent investigation.

Respectfully submitted,

Consumer

Response:

Review: 10106463

I am rejecting this response because:

My faith in your claims would be greatly enhanced by my receiving from you official documents, receipts, invoices, work orders and bank statements, ( the kind of paperwork a tax auditor or private investigator would want to see) to prove me wrong and that you really are a fine upstanding company. I don't care about what has already been sent. I've seen those already.

Regards,