Anyone buying MMEX ahead of the split is in for big disappointment.
Even the least sophisticated investor knows that buying ahead of a reverse-split is equivalent to setting money on fire.
MMEX is 12 ticks away from the glory of trips.
The reverse split is point-in-time, so if MMEX executes at 0.0001, on a 1:100 basis, it ends up at a penny per share.
Statistically, the PPS does not rise after a reverse-split - it falls, by an average of about 60% in the first three months after the execution. That’s with “good” news. MMEX will have only bad news - no financing, more excuses, more delays, so the PPS will drop like a big stinky brown one swirling down after a flush.
Between now and Oct. 19, the price will just continue eroding, declining as Mad J. has managed to suck any, and all hope out of the MMEX lie.
Mad J. has no money to divert to props for the share-selling scheme, even if he’s not lying about paying off the next-to-convert note. Mad J. has no money to purchase crude. Mad J. has no trucking fleet, and can’t pay anyone for capacity, even at spot rate, because he has no money, and there are real businesses, with money, in the Permian. Why on Earth would anyone pay Mad Jackie boy any money, for anything, anyway?
There is no financing, never was, never will be - the “terms sheet” from the unnamed “international debt fund” was only in Mad J.’s imagination, probably after a snoot-full at the Pilot parking lot and taking out his dentures to earn a 5-spot.
The used Yugo sales”person” jammed all the MMEX STRONG, along with several other pushers, and they’ve now disappeared, in hiding with “Juan.” Mad J. has yet to correct his filings, which just adds to the utter hilariousness of the situation.
If FINRA rejects Mad Jackie boy’s notice, he’ll land MMEX on the DTC chill list. Either way, MMEX STRONG are royally screwed. Matters not if Mad J. meant 1 for 10, 1 for 100, or 1 for 1000 - he’s boinked all MMEX STRONG. It takes amazing incompetence to get an SEC filing wrong on basic math. ‘ol Mad J., failed attorney, failed CEO, mediocre fraudster, probably needs to go back to the home, and get is diaper changed.
When you are dead, you don't know that you are dead. It is difficult only for others. It is the same when you are stupid.
