Tuesday, October 24, 2017 6:54:05 PM
In fact, the comp offered by the followers of this board for MMEX, a shining example by the way lost money in 3 of 5 full reporting years, and is on track for similar losses, even factoring out its extraordinary operating loss in 2017, so it will report negative earnings for 4 of 6 operating years, before it falls into bankruptcy.
The mathematical impairment that allows a notion that something is “700% verified” is probably associated with the delusion that MMEX can make money with a topping unit.
MMEX is not financeable. No legitimate investment bank, or financial syndicate will step up to this because:
- the existing corporate structure is completely, totally toxic. It would make more sense to start from scratch with a real team, who has a proven track record, on a tenable business plan. MMEX has none of these qualities.
- ignoring all that, if it was even possible, MMEX has no plan that is sustainable. It is an abject, and total failure, before it even gets off the ground. You can easily do the math on a $1 crack spread, required to generate positive cash-flow. It will never happen. It is not mathematically possible, against $50-million of debt service, or any rational combination of debt/equity split, combined with operating costs, etc.
MMEX is going nowhere. That is simple fact.
Recent MMEX News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/16/2024 05:21:55 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 09/06/2024 01:41:32 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 07/30/2024 02:08:15 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 07/29/2024 04:55:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 09:51:51 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/03/2024 01:18:51 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/14/2023 03:11:12 PM
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