The great Mexus story telling machine.... sometimes the location changes but not the basic premise.
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So back to San Felix and the fictitious $500,000 yield every 12 - 14 days ?
"Decision was Elena was the more valuable so Felix was sold for contracted $4,000,000. POG dropped like a rock and the debt was not paid causing Felix to revert to Mexus we really did not desire. Now sits in limbo." >>> Source, the Texas Oracle
BUT, as was pointed out it this post…
Not buying that line of B.S. No way a company with no other income source sells an operating mine generating $500,000 every 12 - 14 days (sold on contract no less) and places the company's future solely on an unproven, under researched, undeveloped claim.
Even if everyone thought Elena was the more valuable claim they wouldn't give up a source of revenue for a "contract purchase". The company would have needed (and still needs) cash.
San Felix was never generating $500,000 every 12-14 days. Two factual reasons that support that theory;
1. The income never hit the financials (even if it had been embezzled the company would need to show the income and then write-off the loss.)
2. There would be no need to sell a revenue generating entity. If San Felix was generating that kind of cash there would be no reason for an "either/or" scenario between Elena and Felix. The fact that there was an either or decision means Felix wasn't producing what was being claimed.
3. An entity generating 12 million a year of revenue would never get sold for $4,000,000 on contract purchase. Two issues with this. First, the valuation is completely off. Second, there would be some kind of immediate cash commitment and/or revenue sharing. After all the reason Mexus needed to sell Felix was to raise cash to build out Elana.
Elena never made the amounts that was (and still is) being claimed.
