Replies to post #108940 on MMEX Resources Corp (MMEX)

[mikoli007]

Thanks for making my point, that's exactly what I'm saying.

[jmjjw]

If this were even remotely accurate, Mad J. would have had MMEX financed more than a year ago.

Energy sector financing is straight-forward for competent deal teams (which MMEX has never had), and for credible, reliable, competent sector experts (which Mad J. certainly isn't).

MMEX has no credible team - instead, they have a gang of hucksters, carpetbaggers, and scammers with a collective 30-plus year history of business failures, loss generation, and questionable deals.

Mad J. himself, while never convicted, was arraigned on fraud charges in a scheme in which Salt Lake City, and the feds were bilked out of millions. His string of failed businesses, and track-record as huckster and con-man are such that the only money anyone will lend him is floor-less, convertible toxic debt. The traditional finance markets wouldn't touch 'ol Mad J. with a 1000-mile pole.

Legitimate energy sector projects are routinely financed by deal teams within 180-day, usually faster, if you look at the point equity gets soft-circled. As a comparison and contrast, more than a year after announcing intent, MMEX is still languishing.

This is a sign of two things; a project that is unnecessary, not needed, and would never be profitable (an isolated, rudimentary PADD III inland that could never produce any marketable product), and the track record of its proposed parent, and its team, the illustrious Mad J. and his cohorts.

Obtaining project financing is not like "getting a loan." Not even remotely close or similar. Non-recourse project financing requires a credible structure (which MMEX can't muster), 20% private equity (i.e. real cash), and 80% debt (drawn in tranches). There is nothing about MMEX that suggests it is even on track to accomplish this. In fact, based on its own filings, (read the most recent 10-K) only preliminary discussions have taken place - despite the B.S. in MMEX's shareholder letter(s).

Buddy, I know people in the oil business and getting a loan or raising money isn’t as difficult as you think it is.

Selling the ideal of mailbox money is a lot easier then you think