---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-23-004040"
form_type: "8-K"
ticker: "MMEX"
cik: "0001440799"
company_name: "MMEX Resources Corp"
filed_at: "2023-05-30T23:59:59+00:00"
generated_at: "2026-06-14T11:36:39.011992+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MMEX Resources receives lawsuit from Sabby alleging breach of convertible note; company admits inability to repay debts

## Summary
- Sabby filed lawsuit in NY Supreme Court on May 26, 2023 seeking damages not less than $226,875 plus interest and fees.
- Company states it lacks cash resources to repay the Sabby Note or other outstanding indebtedness.
- As of last 10-Q, aggregate notes payable ~$1.8M with ~$300k already in default.
- Acceleration of Sabby Note may trigger cross-defaults on other debt instruments already past due.
- Company reiterates going concern uncertainty.

## SEC filing metadata
- accession: 0001477932-23-004040
- form_type: 8-K
- ticker: MMEX
- cik: 0001440799
- company_name: MMEX Resources Corp
- filed_at: 2023-05-30T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1440799/000147793223004040/0001477932-23-004040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1440799/000147793223004040/mmex_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-23-004040
- JSON: https://secwatch.observer/filing/0001477932-23-004040.json
- Plain text: https://secwatch.observer/filing/0001477932-23-004040.txt

## Key facts
- Debt Financings
  MMEX Resources Corp faced acceleration on convertible notes of $226,875 plus interest and other damages with Sabby Volatility Warrant Master Fund, Ltd..
  - Instrument: convertible notes
  - Principal: $226,875 plus interest and other damages
  - Counterparty: Sabby Volatility Warrant Master Fund, Ltd.
  - Event: acceleration
  source text: On May 26, 2023, the Company received notice that Sabby had filed a lawsuit in a New York Supreme Court, alleging breach of contract, fraud, and failure to maintain and deliver shares under the Sabby Note. Sabby is seeking monetary damages in an amount to be determined at trial, but not less than $226,875 plus interest and other damages under the Sabby Note, plus attorney’s fees and costs of the lawsuit.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1440799/000147793223004040/0001477932-23-004040-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.