Let’s pause to examine some of the ridiculous claims from Mad J.’s latest MMEX shart-holder letter from Nov. 19, 2018:
First of all, the marginal grammar in this atrocious sentence reflects the amateurish, incompetent, and incoherence of who ever wrote it - likely Mad J. himself. Setting the use of language problems aside for the moment, what this really says is that Mad J. blew it again - MMEX’s projected costs have increased, requiring more debt in the project financing structure to cover those increased costs.
And at this late date, Mad J. subtly admits that they’ve failed to raise the necessary equity, which at the last failed commitment was about $14-million.
There is no project financing package… the reason why has already been documented, and discussed ad nauseam.
Man oh man was this ever botched. The reverse split was announced on September 14, and finally completed 43 trading days (63 calendar days) later - depressing MMEX’s PPS to 0.0014, and an ex-split price of 0.14 (1 for 100 split). MMEX shart-holders should sue ‘ol Mad J. over this.
The big lie embedded here is the notion of “up listing” of MMEX share on additional stock exchanges. That will never happen - MMEX will never meet the requirements to become an exchange listed security. It barely meets OTC requirements, and won’t likely even make it back to QB again, and even in that level-nine miracle, wouldn’t last - we’ve already seen that movie. Remember that Mad J. paid for the QB debacle, and the Crown Bridge disaster off the backs of MMEX retail “investors.”
Just more B.S. to distract, and deceive the MMEX STRONG… recycled pictures, nonsensical drawings reflecting a 40K BPD useless, and incomplete refinery, just total crap. Any experienced investor or sector analyst saw through that charade element in a heartbeat.
Today, MMEX closed 14% below its ex-split price - as predicted, and predictable. MMEX, like all other sub-penny scams based on toxic debt will average down, falling 60% or more in the next three months. MMEX - you’ve been scammed!
Quote:"Status of CDU Phase 1 Project Financing. We are in negotiations to increase the potential amount of our senior debt component. Along-side the senior debt component we are in discussions with several equity participants to complete our total project cost financing.”
First of all, the marginal grammar in this atrocious sentence reflects the amateurish, incompetent, and incoherence of who ever wrote it - likely Mad J. himself. Setting the use of language problems aside for the moment, what this really says is that Mad J. blew it again - MMEX’s projected costs have increased, requiring more debt in the project financing structure to cover those increased costs.
And at this late date, Mad J. subtly admits that they’ve failed to raise the necessary equity, which at the last failed commitment was about $14-million.
There is no project financing package… the reason why has already been documented, and discussed ad nauseam.
Quote:"Reverse Split of Shares. On September 14 we filed for a reverse split of our shares.
On November 14, the Financial Industry Regulatory Authority (FINRA) approved the reverse split effective November 15, 2018. The new trading symbol will be MMEXD for 20 days, and then will go back to MMEX. This reverse split supports our goals of up listing our shares on additional stock exchanges.”
Man oh man was this ever botched. The reverse split was announced on September 14, and finally completed 43 trading days (63 calendar days) later - depressing MMEX’s PPS to 0.0014, and an ex-split price of 0.14 (1 for 100 split). MMEX shart-holders should sue ‘ol Mad J. over this.
The big lie embedded here is the notion of “up listing” of MMEX share on additional stock exchanges. That will never happen - MMEX will never meet the requirements to become an exchange listed security. It barely meets OTC requirements, and won’t likely even make it back to QB again, and even in that level-nine miracle, wouldn’t last - we’ve already seen that movie. Remember that Mad J. paid for the QB debacle, and the Crown Bridge disaster off the backs of MMEX retail “investors.”
Quote:"Project Site Visit. During the week of November 12, we visited the project site with our EPC contactor, Blanchard Industrial, to review the project siting placement, the geotechnical report design, water, pipeline and power utility access, and to initiate new surveys to apply for additional easements. These easements will provide additional hard- top access to our site and access to potential solar power sites that we are considering. We have posted pictures of the site visit, the plant sites layouts and the geotechnical report design in a pdf presentation on this Home page.”
Just more B.S. to distract, and deceive the MMEX STRONG… recycled pictures, nonsensical drawings reflecting a 40K BPD useless, and incomplete refinery, just total crap. Any experienced investor or sector analyst saw through that charade element in a heartbeat.
Today, MMEX closed 14% below its ex-split price - as predicted, and predictable. MMEX, like all other sub-penny scams based on toxic debt will average down, falling 60% or more in the next three months. MMEX - you’ve been scammed!
