All this talk of project financing and MMEX is complete, and utter nonsense. None of the MMEX advocates have apparently read MMEX’s SEC filings, which are an investor horror novel.
In those filings, MMEX documents its nature:
- an insolvent, super-dilutive OTC shell company with no employees or business operations
- nearly $40-million in cumulative losses and current liabilities
- no access to traditional capital markets
- no intellectual property, no proprietary technology
- no luminary management or technical team
- no commitment for financing
- not a going concern
- insider dealing
- no financial controls
- no independent board
- no corporate governance
- a non-viable, ill-conceived “business plan”
All of these nightmare MMEX elements contained in the Dec. 14 10-Q filing are clear. MMEX is not eligible for project financing, and has no access to traditional capital, or capital markets. Adding insult to injury, there is clear financial malfeasance within MMEX, due to its lack of governance, an independent board, and inadequate financial control.
MMEX accrued $316,963 in insider, related party transactions in just the most recent six months.
MMEX has accrued more than $1.7M in SG&A expenses in just one year - money siphoned off the proceeds of toxic loans, into Mad J.’s pockets as “administrative expense” funneled offshore, into Maple.
MMEX is an investor nightmare, a true horror show.
In those filings, MMEX documents its nature:
- an insolvent, super-dilutive OTC shell company with no employees or business operations
- nearly $40-million in cumulative losses and current liabilities
- no access to traditional capital markets
- no intellectual property, no proprietary technology
- no luminary management or technical team
- no commitment for financing
- not a going concern
- insider dealing
- no financial controls
- no independent board
- no corporate governance
- a non-viable, ill-conceived “business plan”
All of these nightmare MMEX elements contained in the Dec. 14 10-Q filing are clear. MMEX is not eligible for project financing, and has no access to traditional capital, or capital markets. Adding insult to injury, there is clear financial malfeasance within MMEX, due to its lack of governance, an independent board, and inadequate financial control.
MMEX accrued $316,963 in insider, related party transactions in just the most recent six months.
MMEX has accrued more than $1.7M in SG&A expenses in just one year - money siphoned off the proceeds of toxic loans, into Mad J.’s pockets as “administrative expense” funneled offshore, into Maple.
MMEX is an investor nightmare, a true horror show.
