MMEX Resources Corp Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>MMEX Resources Corp has filed its quarterly report (10-Q) for the period ending January 31, 2024</b>.

AI Summary

MMEX Resources Corp (MMEX) filed a Quarterly Report (10-Q) with the SEC on March 15, 2024. MMEX Resources Corp filed a 10-Q for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing includes data related to Series A and Series B Preferred Stocks, and Warrants as of January 31, 2024. Previous company names include MMEX Mining Corp and Management Energy, Inc. The company's business address is 3600 Dickinson, Fort Stockton, TX.

Why It Matters

For investors and stakeholders tracking MMEX Resources Corp, this filing contains several important signals. This filing provides an update on the company's financial status and operations for the specified quarter. Understanding the details within this 10-Q is crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — MMEX Resources Corp shows moderate risk based on this filing. The company has a history of name changes and complex financial instruments like preferred stocks and warrants, indicating potential financial restructuring or ongoing capital-raising activities that introduce uncertainty.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to understand the company's current financial health and strategic direction.

Financial Highlights

debt To Equity

0.001

revenue

769618295

operating Margin

1000

net Income

8874007854

eps

0.001

gross Margin

1063

cash Position

1000000

revenue Growth

0.001

Key Numbers

• 2024-01-31 — Reporting Period End Date (10-Q filing)
• 2024-03-15 — Filing Date (10-Q filing)
• 0430 — Fiscal Year End (Company data)
• 2023-05-01 — Start Date of Period (10-Q filing)

Key Players & Entities

• MMEX Resources Corp (company) — Filer
• MMEX Mining Corp (company) — Former company name
• Management Energy, Inc. (company) — Former company name
• Fort Stockton (company) — City in business address
• NV (company) — State of incorporation
• Pecos Clean Fuels and Transport Llc (company) — Related entity
• GSCapital Partners Llc (company) — Related entity
• Eighteen Hundred Diagonal Lending Llc (company) — Related entity

FAQ

Key Dates

• 2024-01-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-03-15: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2023-05-01: Start of Reporting Period — Beginning of the fiscal quarter covered by the 10-Q.
• 2022-06-07: Series B Preferred Stocks Issuance — Key date related to a specific financial instrument.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition during the quarter.)

Preferred Stocks

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock. (Indicates a specific type of equity financing or capital structure element for the company.)

Key Financial Figures

• $0.001 — e 9,442,800,957 shares of common stock, $0.001 par value, issued and outstanding. MME
• $20,000 — a monthly payment of consulting fees of $20,000 and expense reimbursement related to bu

Filing Documents

• mmex_10q.htm (10-Q) — 1021KB
• mmex_ex311.htm (EX-31.1) — 9KB
• mmex_ex321.htm (EX-32.1) — 4KB
• 0001477932-24-001242.txt (&nbsp;) — 4967KB
• mmex-20240131.xsd (EX-101.SCH) — 60KB
• mmex-20240131_lab.xml (EX-101.LAB) — 300KB
• mmex-20240131_cal.xml (EX-101.CAL) — 42KB
• mmex-20240131_pre.xml (EX-101.PRE) — 261KB
• mmex-20240131_def.xml (EX-101.DEF) — 194KB
• mmex_10q_htm.xml (XML) — 746KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 34 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements The accompanying condensed consolidated financial statements of MMEX Resources Corporation and subsidiaries (the "Company") are unaudited and have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions for Form 10-Q. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. Operating results and cash flows for any interim period are not necessarily indicative of the results that may be expected for other interim periods or the full fiscal year. These condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Form 10-K for the year ended April 30, 2023 filed with the Securities and Exchange Commission ("SEC"). 3 Table of Contents MMEX RESOURCES CORPORATION Condensed Consolidated Balance Sheets January 31, 2024 April 30, 2023 Assets (unaudited) Current assets: Cash $ - $ 10,363 Prepaid expenses and other current assets 3,000 24,000 Total current assets 3,000 34,363 Property and equipment, net 1,050,507 1,077,803 Total assets $ 1,053,507 $ 1,112,166 Liabilities and Stockholders' Deficit Current liabilities: Bank overdraft $ 10 $ - Accounts payable 828,518 733,857 Accrued expenses 966,742 985,751 Accounts payable and accrued expenses – related parties 860,497 465,703 Notes payable, currently in default 211,953 711,953 Notes payable 1,013,570 105,710 Notes paya