Replies to post #121734 on MMEX Resources Corp (MMEX)

[jmjjw]

Corporate actions like MMEX's reverse split fall under state law - in this case, Nevada.

Nevada is a non-recourse state, which neuters shareholder actions against the board and management (Hanks and Lemons).

FINRA does not approve corporate actions - they just process them - FINRA can only delay the processing until the proper notice (10-business days from the finalized action) is exhausted and all of the forms and fee payments are met. Hanks errors in the Nov. 2018 split resulted in nearly 60-days of delay, turning MMEX into a zombie issue. Having said all that, FINRA can't block the action.

The sole entity with authority to step in is the SEC - the SEC could suspend MMEX, and/or de-list the issue from OTCM. That would require an investigation, and adjunct/administrative injunction.

The only other way to avoid the RS is for MMEX's board to reverse the action to change the corporate charter - revoke the amendment. Just like Hanks and Lemons took unilateral action, with no shareholder recourse to effect this RS, they could revoke it unilaterally - however, they won't - the reverse split is absolutely necessary to allow Hanks to continue his share-holder terrorism campaign of toxic borrowing.

The MMEX slow-motion train wreck is inevitable. Anyone holding at this point is just a sad, very sad (5x) bag-holder.

MMEX - You've Been Scammed!

I hope they don’t approve the RS. If they check into it at all rs then huge dilution then massive rs. Ridiculous. Needs to get shut down before it catches anymore people.