Bad times for MMEX... In the last couple of day
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Posted On: 12/14/2018 11:25:26 PM
Bad times for MMEX...
In the last couple of days, we’ve seen the self-serving “management” of MMEX register nearly 20-million shares for their loan-shark pals, which will dilute MMEX retail “investors” by at least 36%, in reality much more. Liquidating that much MMEX toxic trash will take six months, impacting price and volume the entire time.
Next, we see MMEX’s self-serving management “compensate” themselves, while increasing the company’s liability by a few million more shares with an option grant - which the MMEX advocates immediately represent, falsely as Mad J. and The Lemon purchasing sharers in their shite-show company, despite the clear information in the Form 4.
That’s followed by a bad-news 10-Q, in which, among other negatives, we see MMEX’s self-serving management disclosing that only preliminary discussions on financing have been conducted, and there is no commitment for financing, despite the much-touted, but clearly imaginary “terms sheet” from an unnamed “international debt fund,” and we also find out that costs increased from $49-million, to now $88-million, for the imaginary rudimentary topping unit proposed. For the mathematically challenged, that’s a $39-million cost overrun from MMEX’s original figure, before a single plate of steel has been bent.
It’s amusing how the MMEX advocates want the ‘D’ indicator removed, basically in the hopes of defrauding unsophisticated retail “investors” who don’t know how to conduct due diligence, hoping they won’t figure out that MMEX’s PPS is inflated artificially by effect of the reverse split, but would otherwise be trips at this point. All these flawed, comical pumping and promoting attempts have minimal positive effect, because the market knows MMEX is toxic trash. Roads to nowhere, flagpoles, dirt-pushing, unverifiable rumors, and lies won’t change what MMEX is, an OTC share-selling scam based on toxic debt.
What a comedy show!
In the last couple of days, we’ve seen the self-serving “management” of MMEX register nearly 20-million shares for their loan-shark pals, which will dilute MMEX retail “investors” by at least 36%, in reality much more. Liquidating that much MMEX toxic trash will take six months, impacting price and volume the entire time.
Next, we see MMEX’s self-serving management “compensate” themselves, while increasing the company’s liability by a few million more shares with an option grant - which the MMEX advocates immediately represent, falsely as Mad J. and The Lemon purchasing sharers in their shite-show company, despite the clear information in the Form 4.
That’s followed by a bad-news 10-Q, in which, among other negatives, we see MMEX’s self-serving management disclosing that only preliminary discussions on financing have been conducted, and there is no commitment for financing, despite the much-touted, but clearly imaginary “terms sheet” from an unnamed “international debt fund,” and we also find out that costs increased from $49-million, to now $88-million, for the imaginary rudimentary topping unit proposed. For the mathematically challenged, that’s a $39-million cost overrun from MMEX’s original figure, before a single plate of steel has been bent.
It’s amusing how the MMEX advocates want the ‘D’ indicator removed, basically in the hopes of defrauding unsophisticated retail “investors” who don’t know how to conduct due diligence, hoping they won’t figure out that MMEX’s PPS is inflated artificially by effect of the reverse split, but would otherwise be trips at this point. All these flawed, comical pumping and promoting attempts have minimal positive effect, because the market knows MMEX is toxic trash. Roads to nowhere, flagpoles, dirt-pushing, unverifiable rumors, and lies won’t change what MMEX is, an OTC share-selling scam based on toxic debt.
What a comedy show!
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