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BACKGROUND ORGANIZATION AND BASIS OF PRESENTATION
12 Months Ended
Apr. 30, 2024
BACKGROUND ORGANIZATION AND BASIS OF PRESENTATION  
BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION

NOTE 1 – BACKGROUND, ORGANIZATION AND BASIS OF PRESENTATION

 

MMEX Resources Corporation (the “Company” or “MMEX”) was formed as a Nevada corporation in 2005. The current management team led an acquisition of the Company (then named Management Energy, Inc.) through a reverse merger completed on September 23, 2010 and changed the Company’s name to MMEX Mining Corporation on February 11, 2011 and to MMEX Resources Corporation on April 6, 2016.

 

Since 2021 MMEX has expanded its focus to the development, financing, construction and operation of clean fuels infrastructure projects powered by renewable energy. 

 

The accompanying consolidated financial statements include the accounts of the following entities, all of which the Company maintains control through a majority ownership or through common ownership:

 

Name of Entity

 

%

 

 

Form  of Entity

 

State of  Incorporation

 

Relationship

 

 

 

 

 

 

 

 

 

 

 

 

MMEX Resources Corporation (“MMEX”)

 

 

-

 

 

Corporation

 

Nevada

 

Parent

 

Pecos Clean Fuels & Transport (formerly Refining & Transport, LLC)

 

 

100%

 

LLC

 

Texas

 

Subsidiary

 

Trans Permian H2Hub, LLC

 

 

100%

 

LLC

 

Texas

 

Subsidiary

 

MMEX Solar Resources, LLC

 

 

100%

 

LLC

 

Texas

 

Subsidiary

 

Hydrogen Global, LLC

 

 

100%

 

LLC

 

Texas

 

Subsidiary

 

 

All significant inter-company transactions have been eliminated in the preparation of the consolidated financial statements.

 

The Company has adopted a fiscal year end of April 30.