MMEX Resources Corp Files 10-Q for Q2 FY2025
Ticker: MMEX · Form: 10-Q · Filed: Dec 16, 2024
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
MMEX Resources Corp 10-Q filed, covering Q2 FY2025. Check financials.
AI Summary
MMEX Resources Corp filed a 10-Q for the period ending October 31, 2024. The company, incorporated in Nevada, is based in Fort Stockton, Texas. Previous names include MMEX Mining Corp and Management Energy, Inc. The filing covers the second quarter of fiscal year 2025.
Why It Matters
This filing provides investors with an update on MMEX Resources Corp's financial performance and operational status for the second quarter of fiscal year 2025.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's current financial health and future prospects.
Key Numbers
- Q2 2025 — Fiscal Quarter (Reporting Period)
- 2024-10-31 — Report Date (End of reporting period)
- 2024-05-01 — Report Start Date (Beginning of reporting period)
Key Players & Entities
- MMEX Resources Corp (company) — Filer
- 2024-10-31 (date) — Period of Report
- Fort Stockton, TX (location) — Business Address
- MMEX Mining Corp (company) — Former Company Name
- Management Energy, Inc. (company) — Former Company Name
- SabbyMasterFundLtdMember (company) — Shareholder/Member
- SeriesBPreferredStockMember (financial_instrument) — Financial Instrument
- WarrantsMember (financial_instrument) — Financial Instrument
- EighteenHundredDiagonalLendingLLCMember (company) — Lender/Member
- GSCapitalPartnersLLCMember (company) — Member
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20241031, indicating the period ending October 31, 2024.
What is the company's primary business address?
The company's business address is 3600 DICKINSON, FORT STOCKTON, TX 79735.
What were some of the company's former names?
The company was formerly known as MMEX Mining Corp, Management Energy, Inc., and MGMT ENERGY, INC.
Which entities are mentioned in relation to financial instruments or membership?
Entities mentioned include SabbyMasterFundLtdMember, SeriesBPreferredStockMember, WarrantsMember, EighteenHundredDiagonalLendingLLCMember, GSCapitalPartnersLLCMember, NotePayableMember, and PoppyLLCMember.
In which state was MMEX Resources Corp incorporated?
MMEX Resources Corp was incorporated in Nevada (NV).
Filing Stats: 4,557 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-12-16 12:03:33
Key Financial Figures
- $0.001 — e 9,692,800,957 shares of common stock, $0.001 par value, issued and outstanding. MME
Filing Documents
- mmex_10q.htm (10-Q) — 942KB
- mmex_ex311.htm (EX-31.1) — 10KB
- mmex_ex321.htm (EX-32.1) — 4KB
- 0001477932-24-008092.txt ( ) — 4881KB
- mmex-20241031.xsd (EX-101.SCH) — 60KB
- mmex-20241031_lab.xml (EX-101.LAB) — 283KB
- mmex-20241031_cal.xml (EX-101.CAL) — 42KB
- mmex-20241031_pre.xml (EX-101.PRE) — 247KB
- mmex-20241031_def.xml (EX-101.DEF) — 178KB
- mmex_10q_htm.xml (XML) — 768KB
– 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 27
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 31
Controls and Procedures
Item 4. Controls and Procedures 31
– 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, 2024 filed with the Securities and Exchange Commission ("SEC"). 3 Table of Contents MMEX RESOURCES CORPORATION Condensed Consolidated Balance Sheets October 31, 2024 April 30, 2024 Assets (unaudited) Current assets: Cash $ 6,913 $ 898 Prepaid expenses and other current assets 3,500 3,000 Total current assets 10,413 3,898 Property and equipment, net 1,023,212 1,041,409 Total assets $ 1,033,625 $ 1,045,307 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 905,868 $ 841,602 Accrued expenses 1,052,166 933,143 Accounts payable and accrued expenses – related parties 1,381,201 1,030,523 Note payable, net of discount of $ 2,607 and $ 22,285 at October 31, 2024 and April 30, 2024, respectively 906,292 1,032