Ah, MMEX-scam - Mad J. loves this sort of thing.
Flawed “investment” “decision making” “processes” like this are what MMEX-scam, and similar OTC share-selling schemes rely upon.
Experienced investors read corporate SEC filings, and examine the fundamentals of businesses that are investment candidates.
Experienced investors conduct in-depth due diligence. As an example, anyone conducting in-depth due diligence would never make a claim like “they have permits,” because in the MMEX-scam case, one would find that a single permit from TCEQ was issued in March 2017, for a process unit missing critical components. That’s just one of many material flaws in MMEX-scam.
Investors who have requisite background would also look at MMEX-scam’s “management team,” its history of generating investor losses, failed businesses, and even history of fraud, extending over 30+ years.
Anyone conducting due diligence would immediately see that MMEX-scam’s sole income stream has been from the proceeds of toxic lending, into a shell corporation structured as a super-dilutive “equity” with tight inside control, incorporated in Nevada, a state with no shareholder recourse rights. They’d find that MMEX-scam has no independent board of directors, no corporate governance, and fails to meet any standard for financial control.
The list of deficiencies goes on, and on.
Even if I'd just fallen off a turnip truck, on the basis of MMEX-scam and the available information, it is an investor horror story.
If today was the first time I heard about MMEX, I check out the OS, the current PPS, find out what they've been doing... do they have permits, do they have land etc. Then I'd quietly, like the cat that just caught the canary, buy, buy , buy what ever MMEX I could get my hands on! Absolutely would.
Mad J. knows his marks. He is fully aware that either they can’t read, don’t read, and can’t analyze a financial statement. Mad J. knows that MMEX-scam is an ideal vehicle to defraud a certain contingent, identified by SEC research as a bimodal population of degenerate gamblers, seeking lottery-like outcomes, and elderly, unsophisticated “investors” desperate to make up for retirement fund short-falls, who have no sector knowledge or understanding of the market.
MMEX - you’ve been scammed!