The following key points come from MMTE's sist

The following key points come from MMTE's sister company, TTXP financial filing. I have posted on this company in the past, and it is my opinion that this company is also a scam.

http://ih.advfn.com/p.php?pid=nmona&article=57169603

The Company is an exploration stage company and its properties have no known body of ore. U.S. investors are cautioned not to assume that the Company has any mineralization that is economically or legally mineable.

As at December 31, 2012, TTXP assets were $56,560. While current liabilities were $3,270,161. The Company has reported a net loss from operations of $751,202 for the twelve month period ended December 31, 2012, a total shareholders’ deficit of $ 16,341,322 and total current liabilities in excess of current assets of $ 3,270,161 as of December 31, 2012.

Cash and cash equivalents consists principally of currency on hand, demand deposits at commercial banks, and liquid investment funds having a maturity of three months or less at the time of purchase. The Company had $0 and $11,450 in cash and cash equivalents as of December 31, 2011 and, 2010, respectively.

This is interesting: On January 22, 2011, a previously issued $100,000 Convertible Note was assigned to a Company shareholder at the $0.001 of conversion price. The Company recorded $582,973 as loss on change in term of note. On the same date the Company issued 333,333 of Common stock in exchange or settlement of the Note of $100,000 in principal and accrued interest of $12,482. WOW! Wish I could turn $100,000 into $582,973 in short order at this was done.

WARNING:

The Company has a recurring net losses, and total deficit accumulated including during pre-exploration stage is $18,420,870 and a working capital deficit (current liabilities minus current assets) at December 31, 2012 of $3,213,601. Additionally, current economic conditions in the United States and globally create significant problems attaining sufficient funding. Accordingly, management has encountered significant difficulties in obtaining financing. These items raise substantial doubt about the Company’s ability to continue as a going concern.

William Lieberman is listed as a Director. Mr. Lieberman is a Chartered Financial Analyst Candidate, Level one at the CFA Institute in New York, and earned a Masters in Business Administration from Hult International Business School in Boston, MA, in 2007. He has an extensive track record in international mining, metal, plastic and advertising sales. Mr. Lieberman was vice president of sales and development for Zapoint, Inc. in Boston Massachusetts, where he was highly involved in all stages of financing and development for the solicitation and close of $1,250,000 of venture capital and angel investment. From 2005 through 2006, Mr. Lieberman was vice president of sales and development for Resource Polymers, Inc. in Toronto, Canada. During his tenure at Resource Polymers, Mr. Lieberman networked throughout Canada and internationally in global scrap markets, and provided arbitrage services to secondary metal and plastics markets.

In August, the Company entered into a master borrowing agreement with the investment firm, which allows for notes payable of up to $500,000 to be paid in installments as needed. Each note carries a separately dated promissory note that bears interest of 8% and is payable on or before August 31, 2010. As of December 31, 2012, $27,164 of principal has been converted. The Company is in default of the agreement.