gpgsm certificate validity

[yyy]

On 2011.08.22. 15:03, Werner Koch wrote:
> On Mon, 22 Aug 2011 11:07, yyy at yyy.id.lv said:
>
>> How to verify if a certificate (in keyring) is valid?
>   gpgsm -k --with-validation USERID
>
> without USERID all certifciates are validated.  In case you want to skip
> CRL checks, add the option --disable-crl-checks.

This produced error:
 [certificate is bad: No value]
Rest of data about certificate, were fine (ID, S/N, Issuer, Subject,
validity, key type, chain length, fingerprint)

What does it means? Attempts to encrypt to this USERID also produced
error "No value"