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MMEX Reverse Splits
1 for 100 Reverse Split
Item 3.03 Material Modification to Rights of Security Holders.
On September 14, 2018, we gave notice to FINRA that our board of directors had approved a 1 for 100 reverse split of our common stock, to be effective on October 19, 2018. Accordingly, and assuming approval from FINRA is received, each 100 shares of common stock outstanding as of October 19, 2018 will be reclassified as and converted into, and become a right to receive one share of common stock. No scrip or fractional certificates will be issued. In lieu of fractional shares, the Company will round up any fractional share to the next whole share of common stock.
https://www.sec.gov/Archives/edgar/data/0001440799/000147793218004523/mmex_8k.htm
1 for 10,000 Reverse Split
Item 5.07 Submission of Matters to a Vote of Security Holders
On June 7, 2021, our board declared a 1 for 10,000 reverse split of our common stock, and the holders of a majority of the outstanding voting power of the shareholders (by a written consent to action taken without a meeting) ratified the reverse split. The reverse split contemplates an amendment to our Amended and Restated Articles of Incorporation, whereby each shareholder of MMEX shall receive one share of Common Stock for every 10,000 shares of Common Stock of the Company that such shareholder presently owns. We have mailed an Information Statement to our shareholders of record as of May 28, 2021 regarding such action. Pending FINRA approval, we anticipate that the reverse split and charter amendment will become effective on or after June 29, 2021.
https://www.sec.gov/Archives/edgar/data/0001440799/000147793221003968/mmex_8k.htm
For example:
2017 Own 1,000,000 shares MMEX - Hold and NEVER sell
2018 1 for 100 Reverse Split - Now only own 10,000 shares
2021 1 for 10,000 Reverse Split - Now only own 1 share
2022 I hope no one ever buys another share of MMEX or any other stock from Jack Hanks
Wishing you all a Happy New Year! And may it be virus free and full of profitable investments.
I'm glad you MADE money with mmex. I loss thousands. I just hope that one day soon no one else loses money to mmex or anything else involving Jack Hanks. And yes, Due Diligence...I plan to do better with that.
I am so sorry. I feel ya. I loss money too. This last RS was my second time seeing Hanks do this. I was a believer and held on to my shares that first time. But not this time. When I read he was doing this AGAIN and for a 1 for 10,000 RS. I sold before the split and said NEVER again. Here's hoping our future investments fare well. Personally, I'm staying away from OTC from now on. I do have a few OTC that I already own. But I am not buying any more of them. Yep, I am done with the OTC stocks. I'm a long term investor and for me OTC is not a good fit. Far too risky, to put it mildly. That said, if Jack Hanks had a company listed on the NYSE and it was in the S&P 500, I still would not buy it. Like I've said before...I do not trust Jack Hanks.
FREE shares could still lose you money with a 1 for 10,000 RS. For example, 500,000 FREE shares divided by 10,000 = 50 shares.
50 X .60 = $30 dollars. But you owe $38 dollars to pay for the cost of the RS. Your "free" shares have cost you $8 dollars. And that does not cover the time you lost on this stock.
I do not trust Jack Hanks. When I read about the last RS I sold my mmex shares before the split. But said I might buy back if it dropped to .0001 again. Well that is no longer true. I will NEVER buy stock in a company run by Jack Hanks. I don't even want the shares if they are FREE. I do not trust him. I don't care how much money he may or may not make a company...I do not trust him. I want no part of any company connected to Jack Hanks.
Hopefully most are selling.
I don't understand it either. And I don't understand why the SEC doesn't at least have more regulations then they do for OTC. And what's with this Nevada loophole?!
90% of the OTC! So the VAST majority of the OTC market is "garbage". Why does the SEC allow an OTC market in the first place?! This just seems WRONG. Ok, some may say it's just my opinion...But isn't this wrong?... It looks wrong. What legitimate purpose does the OTC market serve? If the SEC is suppose to be trying to protect investors...why is there an OTC market?
No matter what Jack says or does... Like I said before, I do not trust him. I just hope people stop losing money in MMEX/MMEXD.
I really appreciate your explaining what Jack is really doing with MMEX/MMEXD. I wish I had listened to you years ago about Jack.
I sure as hell hope not.
Right-on.
Convertible debt fraud. Got It!
This is ridiculous! When will the law or SEC stop John W. Hanks from "legally" stealing from people. This is absurd. Even Enron got stopped eventually. And this is just my opinion or wishful thinking...But I don't believe MMEXD will end up having anything close to as many shareholders as MMEX had. And speaking for myself...even if MMEXD were to ever make any money I would not invest in them ( at least not more than 100 dollars), because I do not trust John W Hanks.
Post found on: DD Support Board and Research Team
99.5% is way too high. I'll NEVER buy another OTC stock again. Too bad the SEC allows them to even trade...to even exist. It's just wrong.
Yes, great volume and closed up 28.57% today. Doing my DD and preparing for best and worse case scenario. Never invest more then I can afford to lose with any stock. So I personally NEVER short stocks. Man, I'd be scared to death of a stock going crazy high and I lose everything. Shorts must have nerves of steel. But so far I think MMEX is worth taking a chance on. So I am long on this stock.
Best to you too...
That would be quite lovely.
Thank you for sharing. This is awesome. All those solar panels...what a beautiful sight. So many...Wow. I am so impressed with MMEX right now. I hope this keeps going in the right direction. Time will tell.
Sounds like a good plan...cover best and worse case scenario. After all, it's the stock market, what else can we do.
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Thanks for sharing. I hope you're right.
Very interesting. This is great news. Thank you.
Thank you.