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I hate these games
You guys were right and I was wrong. Sold out at .0086 and bought IDXG at 2.95 yesterday. I do think MMEX will announce closing of the RM then dump more shares into the float but for now you guys are killing it. I can admit when I'm wrong. GLTA!
Dilution is a bastard. Keep buying those newly minted MMEX shares from Jack and the team at MMEX.
I got back in on the news and now I'm out. They're diluting guys and selling you those shares now. Maybe it breaks a penny, maybe you get a waterfall on the chart. Too sketchy for me. These shares selling into the bid are not shorts and they're not your fellow traders.
Why isn't it moving up faster. This makes no sense.
Why isn't this moving up?
This was a dead cat I think. Its dying now. Jack and his "team" blew out well over a Billion additional shares on the open market. So much for the MMEX won't sell the Class "B" shares on the open market crowd. And remember there's over 5B more coming so assuming this doesn't die now we will see a waterfall on the chart when Jack and the team sell 5B more Class "B" shares on the open market.
Yesterdays 10Q showed that the first tranche of dilution was sold to the public. That was ostensibly not supposed to happen. When I bought this at .0028 there were under 1B shares. Now there are approximately 2.5B and they're in the float. The next tranche is 5B I believe. The 5B will be issued when the RM is consummated. I am really pissed that they dumped those shares from the first tranche on us.
This wasn't a panic. Everyone discovered what I have been saying for the last 2 days and being attacked for saying. MMEX took the first tranche of shares and sold them on the open market even though everyone was convinced they would not do this. Pure bait and switch, pump and dump. The float is now in the billions and by the way the reason this stock tanked to .0031 after hitting .0095 the first time is because they were selling those shares to us. It wasn't flippers and it wasn't shorts, it was Jack Hanks.
I told you guys the float increased. Its now in their 10Q Dark Pool lied as well.
They did tank the price and it did drop like crazy. MMEX hit .0095 and tanked over a period of two weeks down to .0031. Why do you think every pop in price is followed by a huge sell off? Its called dilution. And while MMEX dilutes and sells millions and millions of shares iHub users blame flippers and shorters. I cannot even short this stock because its under $3 per share. Just ask yourself, how did the float go from 800M + to 2.15B? The only way this happened was for MMEX to convert its "Class B" shares and sell them to us after converting them to common shares. Did you go to Yahoo Finance and look under MMEX at "Key Statistics"? Its in black and white yet you doubt it? Do you think I have a way to change the information which MMEX reported to Yahoo Finance?
We have been lied to. When I point to absolutely verifiable information I come under attack for no reason whatsoever. We were told that as a result of the reverse merger 7 Billion additional shares would be created but they would be Class "B" shares and never enter the float. These 7 Billion shares would be issued in two tranches (or bunches). If you go to investopedia.com and look up what a float is, its the number of shares trading in the market (essentially common shares). Shares outstanding is the total number of shares of any given stock including all classes of shares, common and preferred, different classes, etc. In order for shares to enter the "float" they must be sold on the open market. The shares outstanding and float was 800M + then the shares outstanding went up to 2.47B but the float stayed at 800M + as it should have because the additional shares were Class "B" and therefore not in the "float" (not trading in the open market). All of a sudden the float is 2.15B because MMEX must have taken its "Class B" shares and sold them to us after converting them to common shares. Alabama96 posted "proof" that the Class B's would not be sold on the open market (Look at the pinned message above). He was right given a fair reading of the filing. But, if they're in the float now (and they are) they were sold on the open market! Therefore MMEX converted the Class "B" shares to common shares and sold them. Go to Yahoo Finance and run MMEX then click on "Key Statistics". Its there for the world to see! I am not bashing anything, I am pointing out a verifiable fact.
The float and shares outstanding was just under 900M+ prior to the first tranche of diluted shares being issued. Additional shares were issued when the contract was signed between Maple and MMEX (with respect to the reverse merger). This was the first "tranche". An additional 5B shares will be issued upon closing of the transaction. We were led to believe that all of the newly issued shares were Class "B" and would not be sold to the public therefore the float (shares that trade in the market) would remain under 900M. However Yahoo Finance updated its share count and there is currently 2.47B shares outstanding and 2.15B shares in the float. Therefore MMEX converted the Class "B" shares to common shares and sold them on the open market. We have been lied to. I firmly believe this is the reason we hit .0095 and subsequently the price was driven down to the low .0030's over several trading days. Go to Yahoo Finance and run MMEX then choose "Key Statistics" and view the updated float information.
Why did the float go from 800M+ on Yahoo Finance to 2.15B if MMEX is NOT selling the diluted shares? I think they scammed us. Go to Yahoo Finance look up MMEX and look at Key Statistics. The first tranche was sold on the open market. We were told that the new Class B's wouldn't be sold and that was a lie.
Look at Yahoo Finance. The reason this tanked back to .0031 is now clear. MMEX sold shares on the open market. Do you know what a float is genius? The shares outstanding and float was 800M + then the shares outstanding went up to 2.47B but the float stayed at 800M + as it should have. All of a sudden the float is 2.15B because MMEX took the "Class B" shares and sold them to us. Alabama96 posted "proof" that the Class B's would not be sold on the open market (Look at the pinned message). He was wrong. If they're in the float they were sold on the open market! Go to Yahoo Finance and run MMEX then click on Statistics. Its there for the world to see!
Yahoo Finance has the float at 2.15B shares. Even after MMEX issued additional shares under the agreement w/ Maple those shares were not in the float and the pinned messages above indicate that those shares could not be sold on the open market. Since the newly issued shares are now part of the float, MMEX has been selling the diluted shares on the open market. They screwed us.
The Yield sign is back on OTC Markets. If these guys can't file a simple 10Q on time how are they going to file a business valuation? Holding from .0028 and getting weak hands!
Do you guys think something leaked out?
So are you thinking MMEX is a total scam or are you on the fence?
Where did you get this and what do you think it demonstrates?
A fair reading of the exchange between the valuation company and mikoli007 indicates to me that they assumed he was w/ MMEX because they referenced "your project" in response to his email. I thought the same thing you did at first as well samsamsamiam. I think they f---ed up when responding to him.
The flippers got out yesterday and now they want in cheap.
Holding since .0028, this up and down sucks.
BPL "owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services." Google Finance. They don't just have one refinery.
Does anyone know of a company/companies that operate one refinery of similar size to what is proposed by MMEX so we can compare the market cap(s)? I cannot find information on that.
When is the valuation for Maple expected?
Anybody see the filing?
Former Gov. Perry (R. TX) is the nominee for Secretary of Energy and Scott Pruitt is head of EPA (confirmed by Congress already). MMEX does not need federal "permission" to build the refinery. Because it is 50,000 BPD (considered small) the United States has delegated its permitting authority to the States. I'm pretty sure Texas will be OK with the refinery.
This stock is shortable on IB. You are ill informed.
Volume is the key here. Volume will be driven by news and filings. Clearly, assuming the Reverse Merger is for the purpose of facilitating a legitimate deal (and I believe it is), the PPS should be over .05 right now. However, absent volume we will not see this. I distrust charts immensely in sub-penny stocks because they are far more volatile and event driven than other stocks. Just MHO.
That link is no good.
This sucks
All posters here and no buyer. With the number of people posting on this board I'm surprised that this stock has so little volume.
Float is smaller than we think. On Yahoo Finance the current share count is 2.47 Billion but the "float" (actual shares that trade) is only 804.48 Million so the new shares must be a different class such as preferred shares which would never actually trade anyway. Does anyone have further information on this? I did think this would be over .01 by now but I suppose we need more news to come. The flippers and shorters are playing their games as well I suppose. They scalp up and down for a few hundreths of a cent. That always seemed risky to me. Well, good luck to all of us and keep up the posts. Very informative on this board.
Why is this so dead today. I thought after the restriction was removed new buyer would come in and drive it up?
I wonder if that Insider Financial article killed this stock. I really thought it would rocket because of the good news (removing the restriction). Still holding from .0028 but these pullbacks make me nervous. I do think that once the permits are obtained financing won't be a problem at all. If the ducks are in a row and a bank can get a decent ROI secured to a (physical) refinery they will lend in a heartbeat. I would like to see information about past projects these guys ran in South America but can't seem to find anything concrete. Hoping to leg up to the next level soon.
Okay this scares me. What do you guys think? https://www.insiderfinancial.com/mmex-resources-corp-otcmktsmmex-get-out-while-you-can/120122/
Doesn't pink current just mean they got caught up with the filings? I hope you guys are right but we already knew they filed a financial report. I got in at .0028 and am getting tired of holding when it gets really high (and I'm up) to just watch it crash repeatedly. The volume on this disappears as soon as it comes and its scary AF. I think the flippers have the right idea but I always screwed that up in the past. The bid and ask right now are not giving me a cozy feeling either. As someone not too experienced in trading its getting hard to see this as an investment.