MMEX Resources Corporation Reports $2.3 Million Net Loss for Fiscal Year Ending April 30, 2025

MMEX Resources Corporation reported a net loss of $2.3 million, or $(0.0002) per share, for the fiscal year ending April 30, 2025, a decrease from a net loss of $8.2 million, or $(0.0011) per share, in the previous fiscal year. The company has yet to generate any revenue, continuing its trend of operating at a loss since its inception. General and administrative expenses rose to $1.4 million, up from $1.3 million in the prior year, primarily due to increased consultant fees, while project costs decreased slightly to $5,430, reflecting limited funding for project investments.

In terms of strategic developments, MMEX is focused on clean fuels infrastructure projects powered by renewable energy. The company is collaborating with Polaris Engineering to develop an ultra-clean transportation fuels refinery in Pecos County, Texas, with a capacity of up to 11,600 barrels per day. Additionally, MMEX is in discussions with a major oil company to develop a Natural Gas to Power Project, which aims to utilize natural gas from the Permian Basin for electric power generation and hydrogen production. These projects are designed to significantly reduce emissions compared to traditional refining processes.

Operationally, MMEX has not reported any significant customer counts or user statistics, as it has not yet commenced revenue-generating activities. The company owns approximately 1,081 acres in Pecos County, Texas, designated for its planned clean fuels and hydrogen projects. As of April 30, 2025, MMEX had no employees, with key management operating under consulting agreements to minimize costs. The company continues to seek additional funding to support its business plan and project development.

The financial outlook for MMEX remains uncertain, as it reported a working capital deficit of $4.8 million and an accumulated deficit of $83.2 million as of April 30, 2025. The company has indicated that its ability to continue as a going concern is contingent upon securing sufficient capital to finance ongoing operations and repay debt. MMEX plans to pursue private or public equity and debt financing to support its initiatives, but there is no assurance that it will be successful in these efforts.

Overall, MMEX Resources Corporation is navigating a challenging financial landscape while attempting to pivot towards clean energy solutions. The company’s future performance will largely depend on its ability to secure funding and successfully implement its planned projects in the renewable energy sector.