MMAT News. Follow me on this journey to success and profits. Please do your own due diligence and invest at your own risk as I am not a financial adviser.Like and Subscribe for more videos covering new stocks in order to improve your trading strategy. Meta Materials Inc (OTCMKTS: MMTLP) is the placeholder for the Next Bridge Hydrocarbons Spin off from Meta Materials (Nasdaq: MMAT) 1 MMTLP will be exchanged for 1 Next Bridge common share. News that the deal was at a close came on Friday from Torchlight Energy Resources. Total oil and gas sales last year amounted to $193,379. MMAT stock is seeing heavy trading today after the merger closed. The next steps in the spinout include, but are not limited to, (i) formal transfer of the assets through a contribution of certain subsidiaries that own the oil and gas assets to OilCo Holdings, Inc. (the OilCo), a newly formed wholly owned subsidiary of META, (ii) ensuring that the OilCo capital structure supports a spinout and, (iii) making any necessary filings with the SEC. For investors, the most interesting part of the report might have been the line captioned Assets Held for Sale. I believe they have a right to be angry and if George can respond to them with some clarifications that will be extremely helpful. The Company believes that, upon completing the work on these four wells, META will be in compliance with all aspects of its lease obligations, and the CDC (Continuous Drilling Clause) with University Lands on the Orogrande project will be satisfied. This team is continuing to consult for the Company by providing operational advice on the drilling and development of the wells for the Orogrande project. 1 week ago - Meta Materials (MMAT) Stock Pops on New Purchase Order - InvestorPlace 1 week ago - Meta Materials Receives New Purchase Order from Its G10 Central Bank Customer - Accesswire 2 weeks ago - Top 5 Tech Stocks That Are Preparing To Pump In February - Blackbaud (NASDAQ:BLKB), PC Connection (NASDAQ:CNXN) - Benzinga 2 weeks ago - MMAT Stock Alert: Meta Materials Plans to Sell . He earned his law degree from Georgetown Law, in Washington D.C. Delvina Oelkers 13 Years Experience. Reddits r/wallstreetbets subreddit, r/MMAT, is littered with comments related to short sellers failure to deliver (FTD) contracts. In the shareholder letter, founder and CEO George Palikaras said the company expects development programs to account for the majority of our revenue over the next 12 months.. Meta reported $72.8 million in such assets, compared with none at the end of the first quarter. SmartAssets free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. As an Asset Manager at Eclipse Resources, she was responsible for leading the multidisciplinary team to prove-up the asset. After its reverse merger with Torchlight Energy, whats next for Meta Materials (NASDAQ:MMAT) stock? 36 votes, 18 comments. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. The company closed its merger with Torchlight Energy Resources. About Meta Materials Inc. (NASDAQ: MMAT) META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. We expect to provide additional updates upon completion of the drilling operations. It also has legacy oil and gas assets its intending to sell. Even when adjusting for these assets, however, this valuation remains out of whack with its current underlying value. SmartAssets free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. It looks like you aren't allowed to do that. He previously worked at Chesapeake Energy holding various positions including Senior Operations Engineer and Asset Manager of the Appalachian North and Utica Business Units. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. Rob Stone Until we see further progress with its big plans, its best to stay away. Thomas Niel, a contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. In marketing, brand loyalty indicates consumers commitment to ALSO READ: Goldman Sachs Says Buy 3 Sizzling Stocks Now With Up to 150% Upside Potential. Hold off, as its sell-off is likely far from over. It all happens at the free AI Super Summit. This makes it the first company to join the Nasdaq with a focus on creating these materials. Theres even room for more lines. With no reserves and virtually no production, it seems highly unlikely that Metas assets held for sale have a value of $72.8 million. For now? Lorem ipsum dolor sit amet, consectetur adipiscing elit. Press J to jump to the feed. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. Often but not always, forward-looking information can be identified by the use of words such as pursuing, potential, predicts, projects, seeks, plans, expect, intends, anticipated, believes or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results may, could, should, would or will be taken, occur or be achieved. Valor is a mineral and working interest management firm which uses a proprietary software platform owned and developed by Mineral Tech. MMAT stock remains inflated. Retail traders flocked into the former TRCH stock last month in the weeks leading up to the deal close. All rights reserved. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. DORADO, PUERTO RICO / ACCESSWIRE / March 1, 2023 / Pharma-Bio Serv, Inc. ("Pharma-Bio Serv" or the "Company") (OTCQB:PBSV), a compliance, project management and technology transfer support . There are 3 levels to choose from starting at just $9 per month. That includes new executives taking on roles as well as changes to the Board of Directors. The company dealt with oil and gas exploration and production. The Company believes that, upon completing the work on these four wells, META will be in compliance with all aspects of its lease obligations, and the CDC (Continuous Drilling Clause) with University Lands on the Orogrande project will be satisfied. Welcome to the sub, Oil Holdings Inc, a subsidiary of Meta Materials Inc, and currently trading as OTC To ensure that the Metamaterial Inc. shareholders owned the same approximate 75% after the reverse split, the exchange ratio was divided by 2, to 1.845 shares of Torchlight (which will be renamed Meta Materials Inc. as of Monday morning) for each share of Metamaterial Inc., to reflect the reverse split impact on total outstanding shares of Torchlight. Traders who got in at the start of the squeeze may have been able to cash out for fast profits near the top. The required audit, legal and compliance steps are inherently time consuming, said Greg McCabe, former Chairman of the Board of Torchlight Energy Resources, Inc. I am pleased with the progress thus far and look forward to seeing the spinout completed.. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. These statements may be identified by words such as 'estimates,' 'anticipates,' 'projects,' 'plans,' 'strategy,' 'goal,' or 'planned,' 'seeks,' 'may,' 'might', 'will,' 'expects,' 'intends,' 'believes,' 'should,' and similar expressions, or the negative versions thereof, and which also may be identified by their context. Heres everything investors interested in MMAT stock need to know after the merger. MMAT stock is seeing heavy trading today after the merger closed. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. As you likely know, last month saw a mad dash into heavily shorted stocks, as retail traders tried to get in early on the next AMC Entertainment (NYSE:AMC) or GameStop (NYSE:GME). Sign up below to get this incredible offer! For now, still in its early stages, this potential is more than accounted for in its share price. Some WallStreetBets commenters appear to be adding all the FTDs over the entire 11-year life of Torchlight Energy to get the higher total. Meta Materials : ARfusion - Solving the Challenges of Fashionable, Functional AR .. Meta Materials : Joins Stanford University SystemX Alliance Affiliates Program, Meta Materials : to Present at Access to Giving Virtual Investor Conference on July 15th, Meta Materials : to Hold Corporate Update Webcast at 1 PM EDT Today. As a result, Meta Materials started trading on the, These are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by META scientists to exhibit new or enhanced properties.. This may end up being a big winner down the road. More likely than not, a continued move to lower prices. The discrepancy appears to be a misunderstanding of what the SEC data is telling investors. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. META is in the process of finalizing permanent arrangements with a completely new management team for OilCo who bring significant experience in oil and gas exploration as well as specific experience in the Orogrande region. Mr. DuBose has successfully acquired, managed, and/or sold thousands of royalty acres and working interests in the United States. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Senior Vice President HALIFAX, NS / ACCESSWIRE / December 3, 2021 /Meta Materials Inc. (the Company or META) (NASDAQ:MMAT, FSE:MMAT) a developer of high-performance functional materials and nanocomposites, today provided an update on the special Series A Preferred Stock dividend in relationship to the oil and gas assets and the planned sale or spinout of these assets for the benefit of the Series A preferred stockholders. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc. Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. This sell-off will likely carry on, at least until its past meme stock status fully goes away. Create an account to follow your favorite communities and start taking part in conversations. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law. Lorem ipsum dolor sit amet, consectetur adipiscing elit. THE ARRANGEMENT AGREEMENT WITH METAMATERIAL, INC. PLANO, TX / ACCESSWIRE / June 25, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021. As one Seeking Alpha contributor detailed near the peak of the squeeze, the former TRCH stock struck while the iron was hot, launching a dilutive secondary offering. All statements in this release that are not based on historical fact are 'forward looking statements.' The reverse split, which will become effective after market closing on June 25, 2021, was approved by the stockholders of Torchlight at its Special Shareholder meeting held on June 11, 2021. This points to the stock having plenty of room to fall before its no longer overvalued. 1125 N. Charles St, Baltimore, MD 21201. To ensure that the Metamaterial Inc. shareholders owned the same approximate 75% after the reverse split, the exchange ratio was divided by 2, to 1.845 shares of Torchlight (which will be renamed Meta Materials Inc. as of Monday morning) for each share of Metamaterial Inc., to reflect the reverse split impact on total outstanding shares of Torchlight. Operations are well underway, and the drilling operations progress with its big plans, its best stay... Merger closed weeks leading up to 3 fiduciary financial advisors in your area in 5 minutes the higher.., however, this valuation remains out of whack with its big plans, best! Financial advisors in your area in 5 minutes working interest management firm which uses a proprietary platform! News that the deal was at a close came on Friday from Torchlight Energy to get the total. D.C. Delvina Oelkers 13 Years Experience Board of Directors is on track for later! 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