MMEX's 8-K is a statement of fact - not opinion, and not subject to interpretation.
No where in the 8-K is there any statement, or information supporting your claims of "guarantee" on building a refinery. No opinion is involved.
On the basis of the facts stated by MMEX, this floor-less convertible note will translate into the dilution associated with $600K of debt, collateralized by the MMEX Class B shares.
Opinions are of no value, and not relevant to the 8-K - facts stand on what was filed.