MMEX Resources Corp (MMEX)

[jmjjw]

What, exactly have "we" been right about? Please enumerate.

As of today, MMEX is priced below 1/3 of a penny per share. MMEX is an insolvent shell corporation, with a super-dilutive equity structure, traded on OTC Pink. MMEX has no business operations. MMEX has no assets, and huge liabilities. MMEX carries nearly $40-million in cumulative losses and liabilities, and more than $2.1-million in current, floor-less convertible toxic debt.

MMEX has no suppliers, and no customers. MMEX has no employees, no luminary management team, no independent board, no corporate governance, and no technology or operations team. MMEX has no viable business plan. MMEX has no project financing in place, and almost no hope of any legitimate financing.

MMEX has a single permit, a TCEQ Type O AQP, obtained for the $100 application fee, which would limit MMEX to operating a rudimentary topping unit that would be unable to produce any directly marketable product. MMEX has a 126-acre of stranded, isolated Pecos County desert, without access to any crude transmission or refined hydrocarbon product pipelines. The rail facilities are unusable to MMEX's claimed target export market in Mexico, for which the proposed Phase I rudimentary topping unit would be unable to produce any useful product for that market. But MMEX does have a nice caliche haul road, and a fence. I forgot the flagpole...

Pretty much everything else seems to be missing; project financing, including the debt and equity components, O&M funding, which doubles the project cost, for a Phase I that could never operate at break-even, and pretty much everything else a legitimate business would have.

And don't forget, there are so many examples of insolvent shell companies entering the refining sector (as in zero) - existence proof is lacking, at best.

In time they always admit we're right.

MMEX is building a refinery.

swim