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Nope. Read again.
It may be a good explanation, but here's the accurate one.
The total number of shares of stock which the Corporation shall have authority to issue is Twelve Billion and Ten Million (12,010,000,000) shares, which shall consist of (i) Twelve Billion (12,000,000,000) shares of Common Stock, par value $0.001 per share (the "Common Stock"), and (ii) Ten Million (10,000,000) shares of Preferred Stock, par value $0.001 per share (the "Preferred Stock").
The Corporation does, by Amendment to this Certificate of Incorporation effective October 19, 2018 (the “Effective Date”), reclassify its shares of Common Stock (the “Old Common Stock”) issued and outstanding immediately before the Effective Date as follows: Each 100 shares of Old Common Stock outstanding immediately before the Effective Date,
Diamondback, welcome to the neighbourhood. The road goes to MMEX. Your concerns are not a concern of mine. Diamondback and Carlyle are spending 600 000 000 right next door. Its all good.
MMEX
Follow MMEX for educational purposes on how to make money, and on how patience pays off, and on how to move forward despite opposition, and on a bunch of other things that have positive attributes. IMO.
MMEX is the real deal. Gets better from here. Much better. IMO
MMEX
Isn't Diamondback a very large oil drilling/production company? What business would they have with MMEX. Please tell us what you know about Diamondback using or owning the road to MMEX land.
Lol. what about Diamondback though?
Diamondback? Please tell me more!
Hold the press. Diamondback??
Diamondback??? Please pontificate.
True, but the lender can. He can't do what ever he wants with the money. If i got a mortgage for a house, can I spend it on a Lamborghini? Of course not.
Rules apply to loans. Especially with gigantic loans like this one. Its a lot of money. No bank just gives that much money away. Doesn't happen. Ever.
What if he does though?
What is on site? Since you've been there.
You're saying the 550,000 is for Jack's personal use. So, if he spends the 550,000 on the project instead, I guess your theory would be proven wrong. Agreed?
Hanks always had control of the vote. Nothing has changed in that regard.
As for financing, you and I don't know for certain. I think he has it under control. One thing we do know is that they have 600,000! That's a lot of money! No one gives you that much money without confidence they'll get it back. I think we can agree on that.
MMEX
Everyone looking for cheap, Friday sell-off shares I see. Well good luck. I can't blame you. They will be worth a lot more next week. IMO
MMEX
Your opinion is the wrong one IMO.
MMEX
Before the 8-K today, the PPS was at .0013 at one point. Exactly where it is now.
We'll see.
MMEX
A refinery will be built. Today's 8-K insures it does. IMO. The PPS does what it does. Some are nervous and I get it, but a refinery is getting built.
MMEX
Hopefully everyone reads it for them selves. The PPS indicates that everyone did.
MMEX
GS controls the vote "now". That's not accurate.
The lender and borrower must be pretty sure the project will be successful to put up terms like they have. Jack basically says we'll give you all our collective interest in the company if we fail, CI is willing to accept worthless shares if it fails. If they think its a good bet, I think I should too. They are privy to much more info than you or me.
MMEX
Yup. Putting their money where their mouth is, so to speak. Also, This is a large amount of money. Looks like about 10% of estimated project cost.
I have MMEX shares and I'm interested in how things are going. So I visit and post on MMEX message boards from time to time. There are other stocks that I have no interest in, or don't like, or love. I don't post on the message boards of stocks like that. I generally don't even visit. Just saying.
MMEX
Great post SMTG.
MMEX
Exactly. What is the rationale here? MMEX management is not stupid. They may be a little crazy, but they're not dumb. And I like a little smart crazy. Some information would be great though.
MMEX
Anyone else?
No. There must be another explanation. Anyone else?
MMEX
RS delayed? Cancelled? What up? Jack is a funny guy sometimes on Fridays.
MMEX
So I guess at this point we can safely say that - regardless of the reason - the MMEX reverse split will not happen on the 19th, and whether it will happen at all is undetermined. That's not so bad I guess.
MMEX
No RS would definitely be a WOW moment.
Are you suggesting there will be no reverse split on the 19th?
Nothing surprises me about this stock anymore. Anything is possible. That's why I kept all my shares and added. That coupled with the progress made and other info, I might add.
MMEX
FYI. Cranes are used for lifting and positioning objects; not for digging holes. Check out some BobThe Builder reruns for helpful illustrations.
What is MMEX lifting and positioning with that crane?
MMEX
Are you suggesting there will be a reverse split in 10 days?
Woe unto them.
MMEX
So if I do take your advise and sell my millions of shares, who on earth would buy them? They're worthless right? Lol.
MMEX
Maybe the buyers know something you don't. Could happen.
MMEX
Exactly. No one knows for certain which way this will go. Nothing we say will help or hinder. So why not be positive. Its all I'm saying.
MMEX