MMEX Resources Corp (OTCMKTS:MMEX): We Told Ya So

It's rather unfortunate that MMEX Resources Corp (OTCMKTS:MMEX) has made Fools of so many people. What shocks us so much is that we are the ones receiving the brunt of this criticism. All our articles were written to WARN investors. We were NOT and have NOT been compensated in any way for our articles on MMEX. What's most indignant is the accusation that we wanted the price to go down. We absolutely despise short sellers as we believe they hurt innocent investors. Our articles were simply warnings for investors to get out at much higher prices. While many did take our advice and we thank them for the kind emails helping them lock in profits, the ones left holding on remain absolutely delusional. As we'll explain further to those that cannot read or understand, a $450 million refinery remains nothing more than a pipe dream. But before we get into that, have a look at the price action.The price spike that MMEX was based on hype from very well crafted press releases. Add in some outside press coverage and you had a feeding frenzy of outside buying. This allowed many investors to profit and that's what trading is all about - making money. What we did was dig into the SEC filings because that is all that matters. We looked at the facts and not the hype. The 8-K that the company filed last month confirms what we what we've said all along.

Effective April 19, 2017, we issued and delivered to JSJ Investments, Inc. a 12% convertible note in the principal amount of $145,000. The note was issued at a discount, resulting in our receipt of $138,000. We can redeem the note at any time prior to 90 days from the issuance date at a redemption price of 120% plus accrued interest. The redemption price thereafter increases to 125%, plus accrued interest, until the 120 ^th day from issuance. The note is due and payable on the 180 ^th day after issuance at a redemption price of 150% plus accrued interest. The holder of the note, at its option, may convert the unpaid principal balance of, and accrued interest on, the note into shares of our common stock at a 40% discount from the lowest trading price during the 20 days prior to conversion. Prior to the 180 ^th day after issuance, the conversion price cannot be less than a floor of $.03 per share of common stock. The note also contains penalty provisions in the event of our default in repayment of the note (if not converted by the holder into shares of common stock) after 180 days from issuance.

Here's is a company (MMEX) that has to go to a loanshark for $120,000. How on earth is MMEX going to put together $450 million for a refinery? If anyone believes they can, they really are Stupid Is As Stupid Does. Why did they need to go to a loanshark for $120,000? Look at their balance sheet. NO CASH AND NO ASSETS!Now while we have heard from delusional believers, we have not heard one word on our articles from MMEX or Jack W Hanks. We welcome any comment that the company has.For the delusional, we encourage you all to learn to read SEC filings. Here is all of MMEX's filings on the OTC Markets website.We are sorry to see people have lost money on MMEX, but we warned everyone in advance to book their profits. Many are now loyal Insider Financial subscribers. For those that are mad at us, don't blame us, blame the company and its management.Currently trading with a market cap of $10 million, MMEX continues to leave a lot of investors bloodied. As we've said previously, MMEX is nothing more than a share issuance scheme designed to enrich insiders. They already have enriched themselves to the tune of at least $20 million. All we can say is buyer beware!We will be updating our subscribers as soon as we know more. For the latest updates on MMEX, sign up below!Disclosure: We have no position in MMEX and have not been compensated for this article.