Loving the penny stocks this year. Very exciting!
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Hittin' the hay. Exhausted.
For others who are still learning, as am I.
"A reverse takeover or reverse merger takeover (reverse IPO) is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. The transaction typically requires reorganization of capitalization of the acquiring company."
It's gonna be a crazy big bounce, too.
Indeed. It's nice when the board calms down during market closure LOL
Was just gonna ride the rest of my shares wherever they go, but something is telling me buy more shares here.
I think it'll be more worthwhile than we can imagine.
Buying more shares ASAP :)
Thank you JLUT. I'm a nursing student and have studied science, and business has never been a subject for me, so I don't know how it all works.
I've been reading quite a bit since I bought MMEX stock, and I've been trying to understand as much as possible.
Ok making more sense now :)
Yes what you said makes sense. It's just interesting that he wants to raise MMEX from the dead. I'm glad he does and hope he does.
Guys, will someone explain why Hanks doesn't just build the refinery through Maple Resources, rather than MMEX giving Maple 7,000,000,000 shares of stock, as payment to take over the project?
Why revive MMEX? What's the business benefit here (besides us getting rich)?
Good stuff :)
Let's wait and see what happens here.
I'm thinking shareholders of MMEX will be extremely happy pretty soon.
Should be!!!
MMEX
Keep holding :)
Permits and financing coming soon yep :)
Yep MMEX will go higher than OWCP did
Whenever it happens, it happens. No worries here. Not waiting on an 8K to pump this stock. It will fly on its own wings soon enough.
No reason to be any other way here.
MMEX....not MMEG :)
And yes I believe MMEX will eventually be a great money maker!
Very exciting prospect here!!!
Exactly
Soon....
Make a little now or wait for the big score :)
I'm waiting.
Go MMEX!
I Totally understand. We're golden here....patience.
Thanks dawg!
That's what we're waiting for and what we're counting on!
What?
Ha ha. Come on Mr. Hanks. You can do it!
Just saw that this is a different article. My bad. I don't have access to it. It's like $111.00 to subscribe. Not sure if it's worth it.
Maybe someone will post it here :)
Here
"A company seeking to build a refinery near the Permian Basin town of Fort Stockton is taking financial steps to move the project forward.
In a filing with the U.S. Securities and Exchange Commission, MMEX Resources Corp (OTCPK: MMEX) reported a stock deal that is being touted as a solid step forward for the project.
MMEX Resources CEO Jack Hanks reported in the SEC filing that MMEX is issuing up to 7 billion shares of stock to buy the rights to the refinery project from its privately held sister company Maple Resources USA.
Hanks told the Business Journal in a Tuesday afternoon telephone interview that as the sole owner of Maple Resources, he had been developing the Permian Basin refinery project over past several months but decided to bend it into MMEX, which he previously described as a long-dormant company.
"This is a solid step forward," Hanks said. "We're running hard."
Under the agreement between the two companies, MMEX plans to issue 7 billion shares of stock and give it to Maple as payment to take over the refinery project. MMEX already issued and gave 1.5 billion shares of stock to Maple during a March 4 transaction while the remaining 5.5 billion shares are undergoing valuation by a third party consultant.
Hanks told the Business Journal that California-based firm Doty Scott Enterprises Inc. is handling the valuation in a process that could be completed in about two weeks. If approved, Hanks said Maple could own from 60 to more than 80 percent of MMEX.
Over the past several months, MMEX has also filed 11 quarterly reports with the SEC catching the company up after years of inactivity. The company's third quarter filing for 2016 reveals zero revenue and a net loss of around $235,000 with $209 in assets and more than $2.9 million in liabilities.
Hanks told the Business Journal that company will revive MMEX by moving the refinery project and other assets into the company, which is expected to file its fourth quarter report and end of the year results for 2016 within the next two weeks."
I've played day trader before on some stocks. No need to worry about this one, in my opinion.
I have no worries. Riding free shares to the top. If it tanks, then whatever. I'm no day trader.
I don't think this will tank, though.
He also said he was driving around for 6 months looking for a good location. Seems he wouldn't waste his time doing this if he wasn't certain he could get permits and financing pretty easily.
It would be great to see MMEX become an operating company and get far far above and away from just pennyland, permanently.
Yes several months most likely
I'm not pumping. Just waiting.
100-250 pennies per share when permits and financing are approved.
Ha ha not a pump and dump.
Not even close.
I would tend to agree with this. No reason to secure financing if permits aren't in place.
Great big potential here. It seems the location will be far out enough from communities, so as not to cause concerns, as well.