Replies to post #72189 on MMEX Resources Corp (MMEX)

[amc]

The reason he will try to pump it lol

[I-Glow]

This isn't close to being accurate: "That note has a conversion price that cannot be less than a floor of .03"

You need to read the terms much more closely.

"The holder of the note, at its option, may convert the unpaid principal balance of, and accrued interest on, the note into shares of our common stock at a 40% discount from the lowest trading price during the 20 days prior to conversion. Prior to the 180th day after issuance, the conversion price cannot be less than a floor of $.03 per share of common stock. The note also contains penalty provisions in the event of our default in repayment of the note (if not converted by the holder into shares of common stock)."

Here is what you misread: "Prior to the 180th day after issuance, the conversion price cannot be less than a floor of $.03 per share of common stock."

The 0.03 conversion price is prior to the 180 days - which is a Rule 144 requirement.

But after 180 days the conversion price is floorless.

The discount is a extremely generous 40%: "The holder of the note, at its option, may convert the unpaid principal balance of, and accrued interest on, the note into shares of our common stock at a 40% discount from the lowest trading price during the 20 days prior to conversion."

So after 180 days the conversion price is 40% of the lowest price in the 20 days prior to conversion.

You wrote:" That note has a conversion price that cannot be less than a floor of .03"

IG

[CEOs]

It is a 40% discount from the lowest trading price over the last 20 calendar days from the 19th of October. Regardless, it amounts to around 30 million shares. With the proper news, it should eat through that imo