MMEX-scam has inherent, and incurable problems in its capitalization structure.
There is a still-pending action with FINRA to increase the A/S from 25-billion to 37-billion, to cope with the effect of reserves on shares associated with dilution, including pending wash-out of toxic notes, and anti-dilution warrant coverage for Mad J.’s loan shark pals.
If that we’re bad enough, Mad J. did him and his insider pals a solid, creating another 38.1-billion shares for an insider convertible on top of the required 37-billion share A/S increase.
The sum of 37-billion in the pending FINRA action, and the 38.1-billion shares on the insider convertible represent the minimum required A/S - that is 75.1-billion shares!
MMEX-scam is a total laughing-stock. Anyone gullible enough to ‘invest’ in a shite-pile like MMEX-scam must either be illiterate or cognitively impaired. With almost 3/4 of a trillion (yes, trillion) shares necessary in the A/S to reconcile the capital structure, there is no possibility of financing, or recovery for MMEX-scam.
They were forced to document in this most recent 10Q that MMEX-scam is unable to obtain any more toxic financing, because they’ve run out of shares!
MMEX - You’ve Been Scammed!
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