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What we’re taking is a shell company that I control and it has no assets in it; the stock price is extremely low and we’re going to put assets in it and build the company,” Hanks said, adding that the assets would be the proposed refinery, which would be used as collateral.
President and CEO Jack W. Hanks said in an interview that MMEX Resource Corp. was a shell company and that most of his business has been done through his privately-held Maple Energy, which used to operate as Maple Resources Corp. and has done business in Peru.
Maple was involved in some projects in South America, including a minority share of a $273 million natural gas and electric project in Peru that it sold for around $21 million in 2009, the Dallas Business Journal reported in 2007. Maple was delisted from the London stock exchange in 2014.
He said he was going to put assets into the shell and insinuating, talking about maple success, putting assets into mmex from maple.
If maple had so much assets why didn't hanks do a Intercompany loan at no interest?
If hanks were suppose to transfer assets from maple resources into the shell of mmex, why didn't maple loan mmex the money at no interest? Why go to a toxic leaner for a 66% interest and fees loan. Maybe maple is broke too? If not, that's bad business.
LMAO!!!
The CEO doesn't seem to know about the OTC or business in general according to his failed ventures :
Atlantic Entertainment Group
Prism Entertainment
Independent Entertainment
Rocket Pictures
Sun Network Group
If you look at the chart, it's the classic p/d chart patterns.
Greed lead to grief. Do your dd.
No revenue, over 3 million in debt, no land , no financing, no permits, failed businesses in the past, nothing but an idea, and he is going to build 450 million refinery, how is that not pumping nothing ?
In the over the can markets, greed leads to grief .
The only way to to get rich in otc is to buy when they start pumping and dump when they start dumping. Use technical analysis and DD to help you . And sometimes buy back when they pump again and dump again. Finding long term investment in otc is like winning the lottery.
Hanks don't have to do a r/s to uplist because if he make good on his pumping, the pps would rise and he could work our way through the otc tiers and then uplist to the major league. If he do a r/s its because he don't want to go over AS so he could dilute more and make the float look good.
Thanks. People generally distrust over the can stocks because 99.9% are fraud or ran by unskilled management.
would it be possible to use(or abuse) Section 3a 10 of the Securities Act of 1933, to sell restricted shares?
That's what I'm asking. But he could get financing for a 450m refinery
Can someone help me, Did hanks go to a loan shark for a 145k convertible loan , and after 90 days must pay 120% + interest. According to last 8k
If hanks make good on is pumping, the pps would have risen enough to uplist w/o a r/s
Instead of valuation report, we get more toxic debt.
Tom is either an idiot or he believes everyone who reads his filings are idiots
Thanks for sharing that! It was very informative.
I bet hanks didn't tell Mayor & Judge Ashton of Fort Stockton that he didn't have the financing and not sure if he could get it.
This is the most elaborate p&d I ever seen . Hanks use creditable companies to aid in his pumping with lies. Next he is going to come out with a heavily deceiving valuation report to make the shell seem valuable, all the while dumping shares. Imho
Hanks stated in the 8k, it no guarantee we will get the permits or financing. These are the risks. If we don't get both of these, the refinery is off. Then mmex will fade into .00000 ima
Hanks put this big media campaign together to build a refinery , contracted all these creditable companies and he has no land, no financing, no permits to build just an idea all the while dumping shares and making millions. This is a very elaborate P&D
If this is a share selling scheme it is the most elaborate one I ever seen to have creditable people back him up, unknowingly . But if not, I want to be in.
If they are not approved, he will blame the EPA and everybody else all the while making millions dumping shares
Why would hanks have this massive pr campaign with nothing but and idea and a shell company.
He has creditable people contracted, towns people expecting job, it all over financial news, local news stations in
Pecos county , he doesn't have the permits or financing and not sure if he will get it.
I hope your right cause I have a lot riding on hanks to deliver too
Maybe valuation to embarrassing to put out until hanks doctor it up if it ever come out imo
You will win a seat with the rest of us bag holders in the long run.
The 8k didn't raise the pps so the pr was to elaborate for those who didn't understand or see the 8k and that would raise the pps so mmex could dump at better prices. But it backfired on mmex and we as investors suffer
Who in their right mind who finance a 450mil refinery with hanks unsuccessful past? Why didn't Exxon build one in that location?
If hanks has the valuation it looks to bad to release until he edit it and somehow make it look credible. IMO
Hank is throwing everyone bones to raise pps so he can make more dumping. The PR said the same in the 8K
Hanks has all these people contracted, investors, waiting for this refinery to happen, and he don't even have permits to build. And might not get them as stated in the 8k. He gonna blame the EPA, all the while dumping shares.
It possible hanks might not get the permits as stated in the 8k. What then?
Can someone tell me why would hanks contract all these creditable people to build the refinery and not have the permits?