Poor little fellows… caught red-handed, promotin

Poor little fellows… caught red-handed, promoting the MMEX scam, and without any facts, all they have left are empty name-calling, fantasies, and fears.

MMEX documented its proposed reverse-split on September 14, with its pre-14C filing, accompanied by PR issued by the company on September 17.

Next, MMEX filed its definitive 14C on September 26, with the same errors in the prior pre-14C filing.

Then, along came MMEX, again documenting the reverse-split in its 8-K filing on October 12, claiming FINRA had been notified on September 14, and that pending FINRA approval, expected the corporate action to have an effective date of October 19.

Here is the excerpt from MMEX’s 8-K filing:

Quote:

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Item 3.03 Material Modification to Rights of Security Holders.

We previously reported that on September 14, 2018, we gave notice to FINRA that our board of directors had approved a 1 for 100 reverse split of our common stock, to be effective on October 19, 2018. Accordingly, and assuming approval from FINRA is received, each 100 shares of common stock outstanding as of October 19, 2018 will be converted into, and become a right to receive one share of common stock. No scrip or fractional certificates will be issued. In lieu of fractional shares, the Company will round up any fractional share to the next whole share of common stock. We anticipate that FINRA approval will be obtained and that the reverse split will become effective on October 19, 2018.

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While the day isn’t over, and there could yet be an entry in the FINRA Daily List, there’s been no word from any authoritative source as to the delay, or other action on MMEX’s reverse-split.

In the MMEX case, given the fraudulent nature of its proprietors/mismanagement team, the simplest explanation is just more fraudulent intent on Mad J.’s part. It take extraordinary incompetence to knock all the momentum out of a company’s shares - Mad J. has managed to accomplish that - to what end, only Mad J. and The Lemon, along with their toxic lending buddies know for sure. Another comedic day in the MMEX time-line.