MMEX Resources Posts $349,850 Q3 Loss With Zero Revenue

MMEX Resources Corporation, a Nevada-based development-stage company, reported a net loss of $349,850 for the three months ending January 31, 2026, narrowing from a $531,555 loss in the same quarter last year. The company generated no revenue during the period. Read more earnings reports.

For the nine months ending January 31, 2026, MMEX posted a net loss of $1.15 million, an improvement from the $1.46 million loss reported in the nine-month period ending January 31, 2025. The company has not reported revenue in either period.

Operating Expenses Decline

Operating expenses for the three months ending January 31, 2026, totaled $291,738, down 15% from $343,265 in the year-ago quarter. For the nine-month period, operating expenses fell to $967,286 from $1.08 million, a decline of approximately 10%.

Interest expense dropped sharply to $58,112 for the three months ending January 31, 2026, compared with $204,055 in the prior-year quarter. For the nine-month period, interest expense totaled $183,401, down from $378,384 the previous year.

Balance Sheet Under Pressure

Total assets stood at $992,431 as of January 31, 2026, down from $1.01 million at the fiscal year-end on April 30, 2025. Cash and restricted cash fell to $1,428 from $4,579 over the same period.

Total liabilities increased to $7.34 million as of January 31, 2026, compared with $7.00 million as of April 30, 2025. Current liabilities rose to $5.71 million from $4.80 million, while accounts payable climbed to $998,335 from $957,558.

Stockholders' equity remained deeply negative at -$6.35 million as of January 31, 2026, deteriorating from -$5.98 million at the prior fiscal year-end. The deficit reflects retained losses of $84.4 million.

Share Count Doubles

Common shares outstanding nearly doubled to 22.3 billion as of January 31, 2026, from 11.3 billion as of April 30, 2025. Diluted earnings per share for the three months ending January 31, 2026, was -$0.00, compared with -$0.0001 in the year-ago quarter.

Cash Flow Snapshot

Cash used in operations for the nine months ending January 31, 2026, totaled $144,982, an improvement from $386,105 used in the prior-year period. Cash from financing activities contributed $141,831, down from $385,207 the previous year. The company reported no cash flows from investing activities in either period.

Property, plant, and equipment stood at $977,719 as of January 31, 2026, down from $1.01 million at the prior fiscal year-end. Depreciation and amortization for the nine-month period totaled $27,296, unchanged from the year-ago period.

Financial Summary