MMEX Resources Corporation Reports Continued Net Loss and Lack of Revenue for Three and Nine Months Ended January 31, 2026

MMEX Resources Corporation has reported its financial results for the three and nine months ended January 31, 2026, revealing a continued lack of revenue generation. The company reported a net loss of $349,850 for the three months, a decrease from a loss of $531,555 in the same period last year. For the nine months, the net loss was $1,150,687, down from $1,458,224 in the prior year. Operating expenses for the three months decreased to $291,738 from $343,265, primarily due to reduced general and administrative costs, which fell to $282,639 from $334,166, attributed to paused consulting agreements and lower legal fees.

In terms of financial position, MMEX reported total assets of $992,431 as of January 31, 2026, a decline from $1,013,094 at the end of the previous fiscal year. Current liabilities increased to $5,708,027 from $4,795,043, leading to a working capital deficit of $5,693,315. The company’s accumulated deficit has grown to $84,371,536, reflecting ongoing operational losses. Cash reserves were reported at $1,428, down from $4,579, indicating liquidity challenges.

Strategically, MMEX is focused on developing clean fuels infrastructure projects powered by renewable energy. The company is advancing its Pecos UltraClean Refining project, which aims to produce ultra-clean transportation fuels, and is in discussions for a Natural Gas to Power Project in collaboration with a major oil company. However, the completion of these projects is contingent on securing necessary capital, which remains uncertain.

Operationally, MMEX has not reported any revenue generation, and its project costs increased to $60,500 for the nine months ended January 31, 2026, compared to $5,430 in the prior year, reflecting timing differences in project expenditures. The company has also seen a significant increase in shares outstanding, with 22,295,726,723 shares issued as of January 31, 2026, compared to 11,340,977,507 shares a year earlier, primarily due to conversions of debt into equity.

Looking ahead, MMEX acknowledges substantial doubt regarding its ability to continue as a going concern, given its ongoing losses, working capital deficit, and reliance on debt and equity financing. The company plans to continue seeking additional funding to support its operations and project developments, but there is no assurance that it will be successful in these efforts.