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Has anyone noticed the scare tactic of choice is no longer "they will never get financing" but rather "the refinery won't be profitable?" It's an exciting time to be an MMEX long!
He made a classless comment about people with "special needs" so his post was removed. Then he reposted without that line. What a great guy...
Would you prefer they had purchased expensive beachfront property on which to build the refinery?
Another great day. One month to groundbreaking. Financing imminent. MMEX will make Texas proud!
It's become obvious that the final piece of the puzzle is about to be placed. The smart investors anticipate, they don't wait for the catalyst to be announced. It's a great time to be a MMEX long!
There's a conspiracy theorist for everything these days... One thing we know for sure: groundbreaking is a month from tomorrow!
I'm sure there is a good reason they haven't done a formal PR yet. Maybe uplisting is imminent and they feel the news will be much more visible if they wait for that platform. Maybe they felt they needed to announce the groundbreaking news on their website a little earlier than planned, as word had started to leak from the local Chamber of Commerce.
Lots of big buys today, and the word isn't even fully out on the groundbreaking... Plus financing news imminent. The future is very bright for MMEX!
Perhaps you answered your own question. My guess is the financing is already arranged and will be announced along with the groundbreaking PR.
No way electric cars will significantly impact oil prices in any of our lifetimes. I just read an article about the current projected cost of electric car recharging stations - tens of millions of dollars PER STATION! Not even close to cost effective.
It's cute how you get all giddy when you try to create doubt and fear
There is enough extractable oil in the area to keep the refinery operating at full capacity for decades, possibly a century. Your argument that there won't be a consumer demand for gasoline isn't logical IMO... Tesla has been heavily subsidized in the US for quite some time, and electric cars are still just an expensive novelty.
The decrease in burdensome government regulation will make this refinery even more profitable.
http://www.breitbart.com/big-government/2017/10/06/exclusive-epa-document-proposes-eliminate-clean-power-plan-entirety/
More big buys coming
Why will Hanks get a loan? Perhaps because he has obtained rare permits to open a refinery, a business that never fails and for which a genuine need exists. It's not like he's starting a risky business like a solar panel company...
So it sounds like this is likely a move designed to draw more attention to an upcoming PR?
Don't mess with MMEX!
IMO MMEX is way oversold, and indicators are looking great for an uptrend with or without news.
A lot of big buys yesterday. Charts look great. News imminent. Great time to be a MMEX long.
980K bid block sat at .0102 for the last 15 minutes, and no sellers. Barely $50,000 in shares traded today. Everyone's holding except a few trying to day trade this.
Lol - I meant you. I'm long and holding.
From "load and hold" to "I'm out" in one hour and nineteen minutes.
This stock can drop 50% for no reason. It can also gain 50% for no reason, or perhaps because it had just dropped 50% for no reason.
And this morning he was "ready to load" at .0105 to .011.
It's now sitting right on the 50 MA. I would never guarantee anything, but should be up from here.
Well then tomorrow premarket would be a logical time for a PR announcing groundbreaking...
1.3M shares traded in the first hour isn't much buying or selling...
It's all about creating doubt and impatience before an expected catalyst (imminent groundbreaking).
It's not hard to push this down when volume has been this low... if 10 million shares trade, that is only $150k total stock value @ .015 traded in a day. That's a tiny fraction of the outstanding shares. Most are just holding.
Stop losses have been collected
Looks to me like he started the company in 2005, but didn't have any reason to submit the yearly company form until 2008. So in 2008 when he submitted the first company annual form, the status was switched from "default" to "reinstated." It's not unusual...
IG - Tanking? It opened at .013 before the 10Q. It's at .0129 now...
Lol - nice. I was going to say the same thing - wouldn't surprise me if someone snatched them up.
With an impending catalyst (groundbreaking), I don't think there are enough weak hands to keep this down. That's why the volume is so low - few willing to let go of shares this low.
IMO, someone wanted cheap shares so they put up a 1.7M ask @ .017 and accumulated from the panic sellers. But with a groundbreaking PR imminent, this held up well.
Remember when you said land would not be purchased?
Remember when you said permits would not be issued?
Or it's just a wall to control the price so he can continue to accumulate.
So I-glow, you are saying only an established company can start a business? I've started a half dozen businesses over the last decade, and in every case I was competing with larger, established companies. All I needed for financing was a business plan that made sense. MMEX certainly has that...
We are fortunate so many in this country have had a "can-do attitude" and have been willing to start a business...
Listening to a discussion of the need for new refineries on foxnews right now!
Do oil refineries have a high failure rate that deters lenders from providing financing?
If you are wrong and financing is secured, what is your prediction for the price per share?