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MMEX-scam plays to the psychology of degenerate gamblers - trips-vultures. The SEC has published lots of research on the topic.
These degenerate gamblers look for lottery-like outcomes, and perceive satisfaction if they can double their money from 0.0001 per share, to 0.0002. This is similar to stealing a child's piggy-bank, smashing it open, and feeling 'rich'.
MMEX - You've Been Scammed
By definition, 99.9% of the participants in the MMEX-scam board won’t understand what’s going on at this point - because they invested in MMEX-scam. Anyone who invested in MMEX-scam had insufficient sector knowledge to make the decision to invest to begin with.
Anyone with sector knowledge understands the relationship with the upstream (E&P), mid-stream (basically field processing and pipelines), and downstream (refining & distribution).
The first order issue is that the world is awash in crude oil - there is a glut. Terrestrial, land-based storage is nearly full on a global level, because demand is down. This was already in progress before the SARS-CoV-2 pandemic.
Tanker resources, which includes VLCC’s, smaller tankers, and barges is nearly exhausted - there is no where for the crude to go, either from the suppliers, or downstream to the refiners.
Look up the term ‘contango’ for additional information.
At a very high level, when the crude market collapses, sector investment stops. The uncertainty, roll-ups and wind-downs that are part of this dominate.
One must remember that MMEX-scam has never been a real business. MMEX-scam never had a market opportunity. There has never been any need for a rudimentary, small-scale, land-locked inland refinery. This is further hammered home by the fact that MMEX-scam could never have produced a single drop of marketable product, and could never have operated at positive margin.
In the sector, everything revolves around crude price. For the downstream part of the sector, contango is deadly, particularly when the refined product demand is near zero. In contango conditions, the sector is paralyzed.
Prices drop at the pump, and even with zero or negative crude prices, the crack spread equation falls apart. This is a disaster for refiners, and upstream E&P. Some midstreams will float along, because they have take-or-pay contracts in place, but even that is temporary, as their committed customers fold into bankruptcy, and can’t pay.
MMEX - You’ve Been Scammed!
Just one of the hundreds of reasons MMEX-scam has no hope:
https://oilprice.com/Energy/Energy-General/Refiners-Are-Having-To-Pay-To-Produce-Gasoline.html
MMEX - You've Been Scammed!
MMEX-scam is facing desperate times. All of Mad J.’s schemes are crumbling; the Permian, and oil patch in general is crumbling, with WTI trading around $17/bbl, metric shite-tons of bad debt, a collapsing economy, and the knowledge that MMEX-scam’s “business plan” was an out the gate failure.
I was talking to a Pecos County deputy in the parking lot at Tacos OJ last week… rumor has it that Mad J. was busted, charged with soliciting prostitution at the Pilot truck stop.
Seem’s the ‘ol boy was in drag, hustling truckers, and got into an altercation with the legit lot-lizards - his story was sad. Unable to attract new loan sharks, because MMEX-scam is in default on several notes, Mad J. resorted to the world’s oldest profession to gen up some scratch. Something about the lease payment on Leslie’s Land Rover being late, and the repo guys too...
The deputy said Mad J. couldn’t make bail. Apparently he offered up his gold spray-painted commemorative ground breaking shovels, and a couple ‘a tchotchke MMEX-scam logo hard-hats as collateral to the bail bondsman, but they wouldn’t bite. Apparently, he had one of his pals go hacksaw down the flagpole, and sell it to a meth-head scrap metal dealer to try and raise bail.
Sad times for demented ‘ol full-diaper Mad J. The deputy even said he was offering to take out “his teefs” when offering service, but there were no takers…. Times are hard in the Permian Basin, what with the bust and all.
That’s apparently the new MMEX-scam ‘bidness plan - since the faux imaginary “refinery,” “crude receipt, delivery, and storage,” "solar farm", and “marine terminal” never got off the ground, and the share-selling ‘bidness ain’t working, Mad J.’s had to resort to non-traditional scamming.
Still, mostly rumors - I keep looking at the Pioneer’s sheriff’s blotter, when the arraignment shows up, I’ll post a link.
MMEX - You’ve Been Scammed!
MMEX-scam has no business operations. MMEX-scam, if it were ever financed (and it won’t be) could never produce a single drop of marketable hydrocarbon products - its rudimentary topping unit, as permitted, would not be able to operate reliably, if at all, and there is no, as in zero market for ATB, AGO, or LGO.
No crude supplier would sign up to do business with MMEX-scam, because they understand that such a business relationship would be an immediate liability.
There are of course no supply agreements, or refined product purchase agreements with MMEX-scam and any supplier or customer for that very reason - all potential suppliers and customers understand that MMEX-scam has no ability to perform against a contract.
So, no, it isn’t possible to “check off product, or feedstock.".
The facts about MMEX-scam are abundant, and can be summarized as fraud. Facts matter, opinions do not.
MMEX - You’ve Been Scammed!
Ah, MMEX-scam devotees...
This is of course laughable. Absolutely ludicrous in fact.
MMEX-scam has no business operations. MMEX-scam, if it were ever financed (and it won’t be) could never produce a single drop of marketable hydrocarbon products - its rudimentary topping unit, as permitted, would not be able to operate reliably, if at all, and there is no, as in zero market for ATB, AGO, or LGO.
No crude supplier would sign up to do business with MMEX-scam, because they understand that such a business relationship would be an immediate liability.
There are of course no supply agreements, or refined product purchase agreements with MMEX-scam and any supplier or customer for that very reason - all potential suppliers and customers understand that MMEX-scam has no ability to perform against a contract.
So, no, it isn’t possible to “check off product, or feedstock” - that is a hilarious notion.
Notionally, these kinds of statements reflect much of what’s wrong in America - willful ignorance, magical thinking, utter lack of knowledge, and belief/opinion disconnected from fact - MMEX-scam is one of the biggest jokes played out in the public markets in history.
Anytime “IMO” appears, it is a dead giveaway. Opinion is the lowest form of human expression. It requires no knowledge, accountability, effort, research, or fact. The facts about MMEX-scam are abundant, and can be summarized as fraud.
MMEX - You’ve Been Scammed!
MMEX-scam is a share-selling scheme. It always has been.
Mad J., a mediocre con-man, grifter, huckster has never succeeded at anything, other than conning naive ‘investors’. His record of criminality, loss, and fraud is well-known, and documented.
The only ‘news’ regarding MMEX-scam falls into two categories; lame, easily disproven pumping B.S., or 8-K material events associated with Mad J.’s stream of toxic borrowing events.
One would have to be profoundly ignorant, indescribably stupid, and definitively gullible to believe MMEX-scam is legit:
- an OTC shell company (recall Inkie Entertainment) stuffed with loss
- no luminary management or technical team
- no assets
- no business operations
- no suppliers
- no customers
- no intellectual property, or proprietary technology
- no sound market
- more than $40-million in cumulative loss and current liability
At present, in a collapsing economy, with WTI falling to $17/bbl, the crude market in contango, a glut of refined products, shale producers in all regions collapsing, and either evaporating, shuttering completely, or falling into receivership, there is no hope for MMEX-scam, even if it had the most minuscule shred of legitimacy.
Anyone with sector knowledge understands that there was never a need for an inland, isolated tea-pot crude topping unit, one that lacks supply and finished goods pipeline access, and could never operate at a profit, and on the basis of its dead-on-arrival design, could never have operated at all.
MMEX - You’ve Been Scammed!
In the natural world, (which does not include share-selling schemes like MMEX-scam), on a global level, dung beetles roll up millions of tons of feces into little balls, to later eat.
MMEX-scam is analogous, in that trips vultures, degenerate gamblers (refer to the landmark SEC study) 'load' MMEX-scam shares, hoping for a lottery-like outcome - that of course will never come.
A worthless sub-penny garbage ticker like MMEX-scam always has the same outcome - total loss, except for the insiders and toxic lenders running the scheme.
The little balls of MMEX-scam dung amount to nothing, except for the MMEX-scam virtual dung beetles, who seem to love the flavor and aroma of Mad J.'s toxic loads.
MMEX - You've Been Scammed!
Of course, this is more MMEX-scam absolute nonsense.
Crude is trading under $20/bbl. The shale industry is collapsing under a mountain of debt, and investors have gotten wise.
The crude market is in contango, there is no more storage, to the point where floating storage is all that’s left, which is rapidly running out.
On the downstream side, refined products have reached the same point; transportation grade gasoline is falling under $1/gallon in some markets, and there is excess refinery capacity.
MMEX-scam was never a real business - it has been a share-selling scheme from the onset.
There is no ‘short squeeze’ - that is total B.S., laughable. Yesterday’s ludicrous claim of 25K worth of short interest is beyond hilarious - at the current price, that is a whopping $2.50!
There was never going to be any financing for MMEX-scam, and there never will be. What an absolute joke!
MMEX - You’ve Been Scammed!
MMEX-scam has more than 13.352-billion shares outstanding.
25K in short trades is lost in the noise. What utter nonsense. There are no FTD's, and nothing unusual or indicative on the basis of this minuscule number.
MMEX - You've Been Scammed!
MMEX-scam, "low overhead" - no business operations, no suppliers, no customers, no employees, and no assets... hardly a recipe for success.
MMEX - You've Been Scammed!
All in, Mad Jacki-boi spent less than a nickel on the dollar on his MMEX-scam grift.
All the crap, like his road to the flagpole, new gate, $100 air quality permit for a rudimentary topping unit that would’ve never worked, and related B.S. was just chump change full-diaper Mad J. skimmed off to mislead the gullible.
Now is used car lot receptionist is gone, and only the trips vultures circle the MMEX-scam carcass, picking rotting flesh off the brittle bones.
MMEX - You’ve Been Scammed!
There are billions of shares floating around the vast MMEX-scam cesspool.
For those unfamiliar with the laws of supply and demand, when there is excess supply (as is the case with MMEX-scam), and no demand (Mad J. ran out of suckers), price collapses, independent volume.
At this point, anyone with more than two neurons to rub together knows that Mad J. is a mediocre, full-diaper con man, grifter, and his pet fraud project, MMEX-scam, is a share-selling scheme.
The volume argument is as empty as ‘ol Jacki-boi’s wrinkled ‘ol head. The relatively small volume is simply trips vultures, akin to dung beetles, rolling up little balls of Mad J.’s stinky shite-shares, as they trickle through from his loan shark pals.
MMEX - You’ve Been Scammed!
The reality for MMEX-scam and VFools:
Re: VFools and MMEX-Scam Announce
Tue 3/24/2020 1:24 PM
Chubby Summerseve chubby@vfools.com
To: xxxx xxxxxxxxxxx
Hi Jerk,
Thanks for the email.
The biggest barrier has and still is financing. MMEX-scam has put almost nothing into the development of this project and has always stiffed us for our services. We also have been involved from the beginning and believe MMEX-scam has none of the pieces to make this work.
In my nearly worthless opinion, if they can nail down the right equity and debt partner, everything will work out quite quickly. But we know that will never happen.
Like you, we have been frustrated by the setbacks but we remain committed (to various mental health institutions) and will help with funding support, and scamming investors until we get across the finish line with all their monies in our pocket.
I wish I had a timeline for closing on construction but will remain optimistic, without any factual basis, that the right financial terms are out there for this project.
Hope that helps. Stay safe out there.
Chubby
Chubby Summerseve
Feminine Hygiene Product Spokesmodel
+1 888 888 8888 - US Mobile
+234 567 890 0000 – Nigeria (ask for Prince Noboku)
chubby@vfools.com
What utter, total nonsense.
MMEX-scam has no “robust economics in it.” Never did, never will.
For those who haven’t noticed, worldwide demand for crude, and derivative products was falling before the COVID-19 pandemic, and the Saudi-Russia price war - demand had fallen an aggregate 7% before the current crisis.
MMEX-scam never had a chance, because it was nothing more than a share-selling scheme from the onset.
Three-plus years later, MMEX-scam has even less of a chance - with Permian producers collapsing, the crude markets in contango, storage resources exhausted, demand for refined products collapsing, no one is going to put a fraction of a cent into a scam like MMEX-scam.
Even with recovery, in a market that may have between 15% - to as much as 30% unemployment, MMEX-scam has no chance of attracting capital.
All of the specious claims from trips vultures, share pushers, etc. can’t undo this train wreck.
MMEX - You’ve Been Scammed!
Nope… the only ‘news’ forthcoming about MMEX-scam would be bad news.
The best bad news would be notification of another reverse split, something like 1 for 1,000 or worse. Another possibility would be a halt to trading, on the basis of securities fraud.
In this environment, there is no possibility that MMEX-scam could be funded - not even with another toxic note.
The MMEX-scam capital structure is a train-wreck, requiring an upward adjustment to the A/S to at least 75-billion shares - FINRA still hasn’t accepted the last adjustment!
The trips-vultures, like their natural world analog, the dung beetle, continue rolling up nasty little balls of Mad J.’s stinky, toxic MMEX-scam trash - that’s all that’s going on…
MMEX - You’ve Been Scammed!
Nope, no 'penny land move is coming' - certainly not for MMEX-scam... today's volume was just the trips-vultures, like dung beetles, rolling up dirty little balls of toxic MMEX-scam, like the proverbial Chinese laundry, taking in one another's dirty undies...
MMEX - You've Been Scammed!
Yep - the trips vultures are the bottom feeders for cons like MMEX-scam.
They are well-studied by the SEC, classified as degenerate gamblers, looking for lottery-like outcomes (hence “$mmex $0.01 with news claims).
They strip the remaining rotting, stinky flesh from the MMEX-scam blob, waiting for the music to stop, in Mad J.’s game of musical chairs, rigged, because there were never any chairs to start.
At 1.6 billion to 2-billion shares for every $1K of toxic debt, Mad J.’s pals have made money hand-over-fist off the backs of retail ‘investors’, while Mad J.’s insiders siphoned off the proceeds of the ‘loans’ - a classic Mafia bust-out scam.
The sole ‘trading’ occurring on MMEX-scam shares consists of trips-vultures, and filthy, full-diaper Mad J.’s toxic lending loan shark pals.
The trips-vultures ‘trading’ MMEX-scam shares are figuratively equivalent to dung beetles - spending the day toiling, rolling up Mad J.’s shitey-shite virtually worthless shares, accumulating worthless little balls of MMEX-scam dung.
A share of MMEX-scam is worth far less than a single square of the lowest quality single-ply toilet paper.
MMEX - You’ve Been Scammed!
Quite clearly, ‘news’ has no impact on MMEX-scam’s share price.
This is related to:
- MMEX-scam has billions of outstanding shares
- MMEX-scam is insolvent, sitting on more then $41-million in cumulative loss and current liabilities
- MMEX-scam’s CEO is a known grifter, mediocre con-artist, and flim-flam man with a criminal background
- MMEX-scam offers nothing of value, fills no role in the market, and was never anything more than a share-selling scheme
MMEX - You’ve Been Scammed!
Mad Jacki-boi's toxic little MMEX-scam shite-show continues to provide ongoing entertainment! A whopping four (yes, count 'em, 4) trades today...
It's dead. The music's over. Two or three flushes to clear the bowl of the floater known as MMEX-scam are all that's needed.
MMEX - You've Been Scammed!
MMEX-scam’s done… all that remains is for someone to pull the flush lever on Mad J.’s stinky toxic mess. It’ll probably take a couple of flushes at least.
There’s no hope for full-diaper Jacki-boi any more - oil barely scraping $20, Permian activity in full-scale downward slide, an economy that’s tanked, and complete retraction in the capital markets.
MMEX-scam never had any hope, as it was nothing more than a share-selling scheme from the onset.
MMEX - You’ve Been Scammed!
Quite obviously, MMEX-scam share-pusher B.S. has been discounted to less than zero, worth even less than a share of MMEX-scam stock.
V-Fools is only marginally less a scam than MMEX-scam itself.
There is zero independently verifiable information that V-Fools has any viable business, no record of ever having shipped modular refining components to a U.S. customer, and a sketchy website that suggests MMEX-scam is its sole relationship.
MMEX - You’ve Been Scammed...
MMEX-scam has been an ongoing con for more than three years.
Anyone long for that duration has lost more than 99.999999% of their ‘investment’ - MMEX-scam has worse odds than a rigged kino game or poorly run lottery.
MMEX - You’ve Been Scammed!
MMEX-scammers - so sad… the referenced chart represents no incentive to play the MMEX-scam lotto. All it does is reinforce what a loser, scam-ticker MMEX-scam is…
Posting unsubstantiated PR from VFools/MMEX-scam fails to advance the cause - everyone knows MMEX-scam for what it is, a share-selling scheme run by a full-diaper, mediocre con-man.
MMEX - You’ve Been Scammed!
Trips vulture nonsense at its finest... "print mode" is just trips vultures trading MMEX-scam toxic trash trying to manipulate the chart, and push trading of this crap-ticker.
In reality, MMEX-scam is a dead ticker - the scam has run its course. Skeevy, full-diaper Mad J. has run out of game. MMEX-scam never had a chance, and with the entire market poised to rewind and retract, it is game-over for MMEX-scam and all its musical chairs players.
No Lotto drawing, no lotto winning ticket.
MMEX - You've Been Scammed.