Replies to post #100449 on MMEX Resources Corp (MMEX)

[jmjjw]

This is an excerpt from your statement (emphasis added):

What we do have is an 8-K regarding a shareholder update letter that states financing has been approved pending due diligence.

I'll help with the language, excerpted from the April shareholder letter:

The Term Sheet is subject to successful completion of Due Diligence and execution of a definitive credit agreement. If those conditions are completed satisfactory to the Lender, then financial closing is projected on or before May 31, 2018

MMEX's phantom "term sheet," if it exists at all, would be the outline of some sort of financial deal - the term sheet serves to provide what is nominally a layperson's narrative of the terms of a proposed financing agreement. In turn, that finalized and executed document is used to guide the legal/deal team through completion of actual legal documents that define a contract. We know that MMEX's phantom "term sheet," if it exists, is non-binding, and not material.

The use of language in MMEX's April shareholder letter is problematic. A non-binding term sheet is never subject to anything, other than signatures of both parties. It is devoid of meaning, unless, and until a contract, derived from the term sheet is executed.

For a project financing structure, there are a complex set of legal documents, and entities that get executed and formed. Those, including the debt portion of the financing, the equity portion of the financing, and the formation of the SPV are what get closed, or "completed." The language used in MMEX's April shareholder letter is deceptive, deliberately so, designed to confuse unsophisticated investors into believing that project financing was secured, even though in fact NOTHING happened.

So, to your original claim, and statement; project financing has not been approved - that is a false claim, and an incorrect interpretation of the shareholder letter mumbo-jumbo.

Not a "false claim". Read the exact excerpt from the MMEX letter below. I thinks its pretty much what I stated. perhaps you should apologize for saying I lied when I clearly did not.

"The Term Sheet is subject to successful completion of Due Diligence and execution of a definitive credit agreement. If those conditions are completed satisfactory to the Lender, then financial closing is projected on or before May 31, 2018."

MMEX