Replies to post #107276 on MMEX Resources Corp (MMEX)

[jmjjw]

For clarity, everything “paid for” by MMEX to date has been off the backs of MMEX retail shareholders.

MMEX’s sole source of income has been in the form of proceeds from floor-less, convertible debt - aka. toxic debt.

MMEX’s retail shareholders, through the dilutive effect of this toxic debt paid for the props in Mad J.’s charade.

The gold spray-painted shovels, chotskie logo hard-hats, the short-bus ride out to the site, the flagpole, and corporate logo flag, free cheap beer and cocktail weenies, all of it, came in the form of diluting MMEX retail shareholders.

The 126-acre parcel of land has surfaced in varied forms, most likely paid for by warrants on nearly worthless shares of MMEX stock, and was eventually valued at $550/acre, or about $69K. So far, Mad J. has failed to raise sufficient funds to purchase the remaining tract, a milestone that failed to come to pass in June - the original landowner is probably quite hesitant to accept more of Mad J.’s magic “warrant beans.”

The initial road, scraped from a two-track, was probably $10K. Mad J. claims to have invested about another $200K in the caliche road, fence, and gate - he (really the shareholders) got royally screwed on that deal - about $100K/mile for a caliche road is West Texas speak for “we saw that carpet-bagger coming…”

[mikoli007]

That's what is amazing and jack expects from mmex proponents. Their reading comprehension is lacking. If you actually learn to read and understand a simple sentence then you will see I said a "$10 SHOVEL"