MMEX Resources Corp (MMEX)

[I FAR I]

MMEX...The Directors & Project Finance Manager have this share structure locked up - TIGHT!

https://ih.advfn.com/stock-market/USOTC/mmex-resources-corporation-MMEX/stock-news/81459059/current-report-filing-8-k

Maple and BNL are affiliates of Jack Hanks (CEO and director) and Bruce Lemons (director), respectively. Mr. Katabi (Project Finance Manager at MMEX Resources) is an existing holder of more than 5% of the Company’s equity securities. The holders have all provided working capital and/or consulting services to the Company and agreed to accept the notes in lieu of cash payment. Each of the holders immediately converted the unpaid principal balance of the newly issued notes into shares of the Company’s common stock at a conversion price of $.0000011 (or 110% of the lowest price at which shares of the common stock have been issued by the Company during the twenty trading days prior to the date of conversion) as follows:

Approx. 10 B shares EACH = VERY VERY VERY SERIOU$ ACCUMULATION

The Company has outstanding convertible notes which require us to create a reserve out of our authorized common stock generally equal to a multiple of four to six times the number of shares estimated to be issued upon the conversion of such notes. Although we have a substantial number of authorized and unissued shares and are in process of increasing our authorized shares of common stock to 37 billion shares, our reserves of available authorized shares for conversion of outstanding convertible notes have been inadequate as a result of the continued low trading price of our common stock and the anti-dilution provisions of the convertible notes. Accordingly, the persons listed above have agreed to defer the receipt of their issued shares until the holders of convertible notes have released the reserves of available authorized shares or such notes have been retired or converted, whichever is earlier.

Why is 'retired' stated before 'converted'?

Is MMEX planning on paying off the remaining noteholders?

Which would indicate a very very very bright future for the company!

Hmmmm

"This is a great project. It has robust economics in it." - Jack Hanks

FOLLOW THE $$$$$$$$$$ OF ACCUMULATORS & IGNORE THE DRIVEL OF BLOVIATORS

https://www.mmexresources.com/
MMEX RESOURCES
Leveraging Global Demand
for Energy Assets Located in the Americas.

Take care of the Pennies, Nickles & Dimes and the MMEX $$$$$$$$$$ will take care of THEMSELVE$!!!

GET YA SOME - YOU'VE BEEN BLESSED!