I think your right on the money here, and I'd wager this is where a lot of MMEX investors are right now. I personally don't see this as a scam, and believe that this is a real effort to get this built. On the other hand he is using MMEX as a finance vehicle and as his operator shell. This pretty much guarantee's dilution via equity raises.

Its a real tight spot at the moment frankly, and I for one am worrying/deciding about how to play the next month of time