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Home > Boards > US OTC > Oil/Gas/Natural Energy Production > MMEX Resources Corp. (MMEX)

PROOF THAT THE 7 BILLION SHARES WILL NOT

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alabama96 Member Level  Tuesday, 03/14/17 10:38:18 AM
Re: None
Post # of 63871 
PROOF THAT THE 7 BILLION SHARES WILL NOT BE TRADED ON THE OPEN MARKET

From the 10q

Quote:
On March 7, 2017, the holders of more than 50.1% of the outstanding shares of common stock of the Company executed their written consent in lieu of
special meeting approving an amendment and restatement of the articles of incorporation to provide for an increase in the authorized shares of common stock from
3,000,000,000 to 10,000,000,000 shares. In addition, the articles of incorporation will be amended to provide for two classes of common shares: (i) Class A Shares,
having one vote per share, and (ii) Class B Shares, with 10 votes per share. All of the currently outstanding shares of common stock will be reclassified as Class A
Shares, except that all of the Purchased Shares issued or to be issued in the Refinery transaction will be Class B Shares.
Other than the provisions of the voting
rights, the two classes of shares of common stock will have equal terms and conditions.




THE 7 BILLION SHARES ARE CLASS B SHARES WITH 10-1 VOTING RIGHTS. THEY WOULDN'T BE ABLE TO SELL THESE ON THE OPEN MARKET.

NOT INVESTMENT ADVICE DO YOUR OWN DD & USE OWN JUDGEMNT.
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