Replies to post #107640 on MMEX Resources Corp (MMEX)

[mikoli007]

At what point do you start to think to yourself, hmmmmm, maybe this is a scam after all? Mine was the continuous very very very very very and the gifted ford trucks, just plain ole over the top!

[underdog150]

The toxic note holders are going to get a nice low conversion price some time this month with the shenanigans they have been pulling in the last week.
The conversion price used to be based on the average of the 3 lowest closing prices in the days before they convert their note.
Now it's changed to the average of the 3 lowest prices in the days before they convert their note, they got rid of that pesky word, closing.
The trade to .0015 on 8/3, and today's dip to .0022, leaves their conversion price currently at .002333 with the other low currently at .003.
Oh, and add a 40% discount on top of that.
What a bunch of scum.

Effective January 24, 2018, the Company issued and delivered to GS Capital Partners, LLC an 8% convertible note in the principal amount of $173,000. The note was issued at a discount, resulting in the Company’s receipt of $150,000. The holder of the note, at its option, may convert the unpaid principal balance of, and accrued interest on, the note into shares of common stock (i) during the first 180 days, at a price of $.03 per share of common stock and (ii) thereafter at a 40% discount from the average of the three lowest trading price during the 25 days prior to conversion.