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Posted On: 01/29/2019 10:24:44 AM
Post# of 4466
On March 10, 2017, MMEX-scam completely revealed itself for what it is - a share-selling scheme.
This link is one source to the relevant, related 8-K filing that documents MMEX-scam’s self-dealing:
https://ih.advfn.com/stock-market/USOTC/mmex-...filing-8-k
Summarizing the content filing, we find that the “Left-handed” Mad J., representing MMEX-scam, acquired from the “Right-handed” Mad J., representing Maple Resources, the “rights” for MMEX-scam’s “refinery project,” for a mere 7-billion shares of MMEX-scam stock. Graciously, and for obvious reasons, Maple waived receipt of the second tranche of shares, receiving only the first 1.5-billion…
No independent valuation of this transaction was ever reported, even if said valuation was conducted.
This is called self-dealing. It was the first real sign of the true nature of MMEX-scam.
In the same series of related transactions, MMEX again increased its authorized share count, from 3-billion, to 5-billion shares - one of a continued series of ballooning the authorized share count - creating a super-dilutive equity structure.
This does two things; it gives Mad J. a near infinite supply of pre-printed shares, to conduct the share-selling scheme, and it aids in setting the company up for tight control by insiders, when combined with Nevada’s non-recourse statutes, setting the foundation for the lather-rinse-repeat cycle common to OTC share-selling scams.
MMEX- You’ve Been Scammed!
This link is one source to the relevant, related 8-K filing that documents MMEX-scam’s self-dealing:
https://ih.advfn.com/stock-market/USOTC/mmex-...filing-8-k
Summarizing the content filing, we find that the “Left-handed” Mad J., representing MMEX-scam, acquired from the “Right-handed” Mad J., representing Maple Resources, the “rights” for MMEX-scam’s “refinery project,” for a mere 7-billion shares of MMEX-scam stock. Graciously, and for obvious reasons, Maple waived receipt of the second tranche of shares, receiving only the first 1.5-billion…
No independent valuation of this transaction was ever reported, even if said valuation was conducted.
This is called self-dealing. It was the first real sign of the true nature of MMEX-scam.
In the same series of related transactions, MMEX again increased its authorized share count, from 3-billion, to 5-billion shares - one of a continued series of ballooning the authorized share count - creating a super-dilutive equity structure.
This does two things; it gives Mad J. a near infinite supply of pre-printed shares, to conduct the share-selling scheme, and it aids in setting the company up for tight control by insiders, when combined with Nevada’s non-recourse statutes, setting the foundation for the lather-rinse-repeat cycle common to OTC share-selling scams.
MMEX- You’ve Been Scammed!
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