Sunday, October 22, 2017 10:11:02 AM
It has everything. Let’s examine it, top to bottom:
- it has a shady, sketchy management team, who have no track record of success in the industry
- it has a web site that is misleading, but sufficiently fluffy to appear credible to an uninformed person
- the “financing” is a collection of toxic debt, structured to look like a legitimate security
- the “business plan” is superficial at best, including boilerplate lifted from various internet sources, on-line presentations, knit together with incomplete narrative
- the narrative elements of the “business plan” are non-starters, beginning with a “Phase I” implementation that can never generate positive cash-flow, which in turn leads to a “Phase II” requiring more than 10X the initial capital, with a significantly higher bar to successful entry
- all of this is financed by penny stock, which has never been used to successfully finance a complex, capital intensive business like a refining operation
- there is a single administrative permit in place, one easily obtained by someone minimally skilled in the field, for the filing fee of $100
- there is a sketchy purchase of a worthless piece of land, for $10 “and other consideration” - a special warranty deed executed to provide air cover for the scheme, to lend an appearance of “doing something” for the unsophisticated
- there is a “design” in place, lifted from a textbook, by a consultancy with no track record of delivery in the industry, with an estimated price that exceeds the industry average by 50% for a crude unit that does not represent a complete refining operation
- the MMEX proposed facility is located on a deprecated, barely functional rail line, which does not currently reach its most critical target customer
- using easily available, legitimate industry data, an analyst can implode MMEX’s “business plan” in less than 10-minutes - it is fatally flawed in every single aspect
- it has a network of promotors, attempting to artificially inflate the share price on the basis of false, misleading information
Recent MMEX News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/16/2024 05:21:55 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 09/06/2024 01:41:32 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 07/30/2024 02:08:15 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 07/29/2024 04:55:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 09:51:51 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/03/2024 01:18:51 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/14/2023 03:11:12 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/06/2023 04:48:44 PM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM