MMEX Resources Corp (MMEX)

[jmjjw]

MMEX-scam's board lacks any outsiders. MMEX-scam is a Nevada shell corporation. Nevada is a non-recourse state, as such the directors can take unilateral action without a shareholder vote or approval, so long as the board is the majority holder. This is the process MMEX-scam has used since inception to continually jack up the AS - you can see this in the 14-C filings.

In the next phase of MMEX-scam's ongoing fraud, there are three possibilities:

- stagnate back to trips, once the OS approximately equals the AS
- execute a reverse-split
- jack up the AS

The latter tactic assumes an unlimited supply of marks, ignorant of dilution and its impacts. It generally impairs the crooked insiders like Hanks in obtaining new toxic debt (or any debt for that matter). MMEX-scam's (and consequently Hanks) sole income stream has been the proceeds from more than twenty toxic notes - remember, Hanks needs your monies... There are more subtle problems with increasing the AS, things like FINRA and SEC scrutiny.

That generally rules out the path involving increasing the AS, until the share-structure is rationalized - the only way to accomplish that is the reverse-split, hundreds, or thousands for one in this devastating case.

MMEX - You've Been Scammed!

Can the board of directors vote to increase the authorized shares?