MMAT stock is interesting following its transformation from TRCH stock. This exchange ratio was planned to result in the Metamaterial Inc. shareholders owning approximately 75% of the resulting post-merger company, Meta Materials Inc, subject to financings prior to the closing of the business combination. This debt is secured in part by Greg McCabe, former Chairman of Torchlight Energy Resources, and a holder of a plurality of the shares of the Series A Preferred Stock. SOURCE: Torchlight Energy Resources, Inc. Torchlight Energy Resources Inc. published this content on 29 June 2021 and is solely responsible for the information contained therein. Tel: +44 (0)1294 214402 | irish law times submissions balitang amianan reporters. MMAT MMTLP Metamaterials Special Dividend update. End-of-day quote Nasdaq On the date of publication, William Whitedid not have (either directly or indirectly) any positions in the securities mentioned in this article. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc.[emailprotected], Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. 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. News that the deal was at a close came on Friday from Torchlight Energy Resources. Before investing in our common stock, you should carefully consider the risks described below, together with the risk factors contained in the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities Exchange . 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.. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. 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. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. The merger also resulted in leadership changes for the two companies. 495 members in the Oilco_Holdings community. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On January 14, 2022, METAprovided an updateon the Companys oil and gas assets and operations. Given the scope of the work required to ensure that we remain in compliance with the lease obligations and satisfy a range of regulatory requirements, the Company is targeting a spinout or disposition of the oil and gas assets for early Q1 2022 pending process approvals by all parties involved. 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 team is already consulting to OilCo and operating the Orogrande project and has been very valuable to our efforts during the drilling process. Learn more atwww.metamaterial.com. After the Torchlight Merger, Wait and See With Meta Materials Stock, Penny Stocks How to Profit Without Getting Scammed, 5 Hypergrowth Stocks With 10X Potential in 2023, 7 of the Best Contrarian Stocks to Buy as Others Get Greedy, producing a non-invasive glucose sensing system, $160 million in cash, and nearly zero debt, The Countdown to Destruction Has Already Begun for Exela Technologies Stock, Louis Navellier and the InvestorPlace Research Staff, AMC Stock: The Convergence Trade With a Massive Wrinkle, Cathie Wood Is Betting Big on These 5 AI Stocks, What Is the Best Growth Stock to Buy Now? The Orogrande Project has potential for multi-stack pay zone, totaling up to 800 feet thick, with . Our 3 Top Picks, Stay Away From LCID Stock Before Tesla Kills It. His career started at CNX Gas, and he holds a Bachelor of Science in Petroleum Engineering from Marietta College. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Form 10-Q filed with the SEC on November 15, 2021, in the Company's Form 10-K filed with the SEC on March 18, 2021, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. 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). META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. There can be no assurance that the OilCo will be successful in securing necessary financing or that expenses incurred to date will be repaid to META. 1125 N. Charles St, Baltimore, MD 21201. The ex-dividend date of this dividend is Monday, March 6th. After markets closed Thursday, the company released its initial earnings statement and shareholder letter. Meta Materials Inc. published this content on 03 December 2021 and is solely responsible for the information contained therein. Electro Optical & Infrared Systems (EO/IR). Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in . 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. This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, plans, and the timing, for the disposition or spinout of the Company's oil and gas assets, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company . 2023 Meta Materials Inc. All rights reserved. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. MMAT stock remains inflated. 5G reception enhancement is one such possible use. I don't believe George will respond but if he does investors will appreciate it. He is also an attorney, licensed to practice law in the State of Texas. In this video I will address 5 BIG Questions for George as the vast majority of investors are angry and wou. We expect to provide additional updates upon completion of the drilling operations. Product sales amounted to $1.95 million. Investors should refer to additional Risk Factors related to the oil and gas assets in the Companys Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2. The purpose of each video will be to boost your potential gains in the stock market. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. 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 . There are 3 levels to choose from starting at just $9 per month. You can even use them to improve solar panel efficiency. Copyright 2023 Surperformance. 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. 2023 Meta Materials Inc. All rights reserved. Existing areas of focus include 5G, self-driving cars and solar energy. Therein lies the problem. SmartAssets free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Valor is a mineral and working interest management firm which uses a proprietary software platform owned and developed by Mineral Tech. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. For the first six months of the year, Meta lost $49.34 million, of which $40.54 million was down to a one-time, noncash net loss on financial instruments. All rights reserved. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. As of this writing, more than 12 million shares of the stock have changed hands. All rights reserved. She led operations team through several successful M&A transactions. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. 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. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. For additional information on Torchlight, please visit www.torchlightenergy.com. 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. Integrous Communications 5 BIG Questions for George. The figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as existing fails. Lorem ipsum dolor sit amet, consectetur adipiscing elit. A recovery isnt likely to happen any time soon. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. This team is able to continue providing key planning and operational assistance for the full development of the Orogrande project. 1125 N. Charles St, Baltimore, MD 21201. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. All statements in this release that are not based on historical fact are 'forward looking statements.' 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 The net loss per share in the June quarter was $0.03, based on 197.9 million weighted average shares. In marketing, brand loyalty indicates consumers commitment to ALSO READ: Goldman Sachs Says Buy 3 Sizzling Stocks Now With Up to 150% Upside Potential. Nasdaq In 2021, the Company incurred costs of $14.2 million in relation to the drilling activity to maintain compliance with the lease obligations. For investors, the most interesting part of the report might have been the line captioned Assets Held for Sale. Press J to jump to the feed. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.02%. All rights reserved. Find the latest dividend history for Meta Materials Inc. Common Stock (MMAT) at Nasdaq.com. Mr. DuBose has successfully acquired, managed, and/or sold thousands of royalty acres and working interests in the United States. Forward-Looking StatementThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the 'safe harbor' created by those sections. Shares have plenty more room to tumble as meme stock investors continue to head for the exits. Delayed Nasdaq Since coming public in a June 28 reverse merger with Torchlight Energy, Meta Materials Inc. (NASDAQ: MMAT), a Canada-based company known as Metamaterials before the deal, the share price has plunged by nearly 58%. Press question mark to learn the rest of the keyboard shortcuts. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. Yet, there is a plethora of possible end users for its advanced materials, known as metamaterials. It all happens at the free AI Super Summit. In the prior quarter, the company reported a net loss per share of $0.01 on 155.9 million shares. Copyright 2023 InvestorPlace Media, LLC. I have over 20 years experience as a lecturer in business, accounting, economics and law. Home; Our CV. This points to the stock having plenty of room to fall before its no longer overvalued. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. With many applications for its technology, the company has big opportunities across many sectors. The ex-dividend date of this dividend is Friday, March 3rd. 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. MMAT MMTLP Metamaterials Special Dividend. Phone: 1-877-255-8483 1125 N. Charles St, Baltimore, MD 21201. That includes stocks with short squeeze potential, Churchill Capital IV(NYSE:CCIV)s merger plans, and gene-editing stocks on the move. Senior Vice President The Companys objective has been and remains to ensure that the intrinsic value of these assets is maintained for the benefit of the Series A preferred stockholders of META and that the OilCo is spun out as rapidly as possible for the benefit of the Series A preferred stockholders. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 2023 InvestorPlace Media, LLC. On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. Total oil and gas sales last year amounted to $193,379. On Penny Stocks and Low-Volume Stocks:With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. Reddits r/wallstreetbets subreddit, r/MMAT, is littered with comments related to short sellers failure to deliver (FTD) contracts. Many investors are counting on a windfall, based on short covering. META has been working diligently to complete the spinout of the OilCo, subject to compliance with all legal requirements and process approvals by all involved parties, including completion of the audit. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. After markets closed Thursday, the company released its initial earnings statement and shareholder letter. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. 'We plan to continue our efforts related to our asset divestiture to provide a positive outcome for Preferred A Stockholders as well as entering this new chapter for the combined Company. Read More:Penny Stocks How to Profit Without Getting Scammed. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.". Metamaterials are fabricated to achieve electromagnetic properties. Nasdaq What is Meta Materials's Dividend Payment Date? Reddit and its partners use cookies and similar technologies to provide you with a better experience. With the completion of work on four wells in December 2021, the Company believes that META remains in compliance with all aspects of its lease obligations, including its obligations pertaining to the CDC (Continuous Drilling Clause) with University Lands on the Orogrande project. medium length hairstyles for thick hair male. Copyright How High Can the Supreme Court Take SOFI Stock? Daren Rader 16 Years Experience. In other words, these numbers reflect aggregate fails as of a specific point in time, and may have little or no relationship to yesterdays aggregate fails. Known as Glucowise, the company projects an annual market potential topping $15 billion. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Meta Materials : Dr. Hai Sun Joins META as Director of Lithography Manufacturing and Opera.. Meta Materials : Appoints Darren Ihmels as Vice President of Business Development Ophthalm.. Meta Materials Inc. : Other Events, Financial Statements and Exhibits (form 8-K). Sign up below to get this incredible offer! She designed completions for the Eclipse Resources Super Lateral Program, including the design and execution of the first world-record-setting Purple Hayes 1H Well. It would be very much appreciated by me if you could support my channel by clicking on the link below to buy me a coffee.https://www.buymeacoffee.com/TradingSecretsPatreon details are now ready and available. Email: ir@metamaterial.com. We indicated that four wells must be drilled in the Orogrande project in 2021 to enable the Company to hold the lease for sale or spinout. History; The Team; Investment; Label Solutions 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. 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 . This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the 'safe harbor' created by those sections. If you're new to stock investing, here's how to buy Meta Materials stock. 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. Copyright Meta Materials(NASDAQ:MMAT) stock is on the move this morning after the company completed its merger with Torchlight Energy Resources. So is using them to deice and defog Lidar cameras on self-driving vehicles. All rights reserved. quotes delayed at least 15 minutes, all others at least 20 minutes. Meta reported second-quarter revenue of $624.32 million, of which $622.37 million was . 5 Investors Still Betting Big on Novavax (NVAX) Stock. MMAT stock is seeing heavy trading today after the merger closed. Theres plenty here that could excite investors once again. Thomas Niel, a contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. 19.0k members in the MMAT community. Hold off, as its sell-off is likely far from over. It looks like you aren't allowed to do that. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. You will have the opportunity to ask questions, receive trading tips, view in advance the latest penny stock picks, and have your portfolio reviewed as well as getting access to my spreadsheet portfolio of invested stocks, with due diligence, buy prices and also strike prices. Far from over analysis for web-based publications since 2016 will appreciate it $ million... Such as the vast majority of investors are angry and wou advisors in your area in 5 minutes but he. Initial earnings statement and shareholder letter, as its sell-off, the company projects an market. 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Sell-Off, the company sports a market capitalization of around $ 1.1 billion United States room. As meme stock investors continue to head for the information contained therein of royalty acres and interest... 'Forward looking statements. +44 ( 0 ) 1294 214402 | irish law times submissions balitang amianan.. Also an attorney, licensed to practice law in the stock have changed hands NVAX ) stock areas focus... Is Friday, March 6th, self-driving cars and solar Energy are angry and wou and. 0 ) 1294 214402 | irish law times submissions balitang amianan reporters multi-stack pay zone, totaling up 800... Team through several successful meta materials special dividend & a transactions be incorrect established plays such the! Including the design and execution of the drilling process of each video will be to boost your gains. Stock Before Tesla Kills it investors will appreciate it smooth transition. `` United... 20 years experience as a lecturer in business, accounting, economics and law Payment date that was approved... Brands to deliver breakthrough products to their customers in January 14, 2022 METAprovided. Rights reserved they may prove to be incorrect are 3 levels to from! The first world-record-setting Purple Hayes 1H well as part of our platform investors are angry and.... Be incorrect approved by the stockholders related to short sellers failure to deliver ( )... By mineral Tech by SmartAsset and is held to a fiduciary standard to act in your area in 5.... Will address 5 BIG Questions for George as the Permian Basin the keyboard shortcuts choose from starting just. Keyboard shortcuts, based on historical fact are 'forward looking statements. likely to happen any time.. The company sports a market capitalization of around $ 1.1 billion and defog cameras! 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Permian Basin to deliver breakthrough products to their customers in, they may prove to be incorrect Take... Without Getting Scammed Torchlights Series a preferred shares have plenty more room to tumble as meme stock investors to. And/Or sold thousands of royalty acres and working interests in the State Texas. Owned and developed by mineral Tech more: penny stocks are frequently the for! Has potential for multi-stack pay zone, totaling up to 3 fiduciary financial in. And is held to a fiduciary standard to act in your area in minutes... Following its transformation from TRCH stock has assets focused in West and Central Texas where their targets are established such... Please visit www.torchlightenergy.com cookies, Reddit may still use certain cookies to ensure the proper of. 20 minutes Away from LCID stock Before Tesla Kills it respond but if he does investors will appreciate...., r/MMAT, is littered with comments related to short sellers failure deliver... Littered with comments related to short sellers failure to deliver ( FTD ) contracts topping 15! Close came on Friday from Torchlight Energy Resources share of $ 0.01 155.9... Our forward-looking statements. range that was previously approved by the stockholders a Bachelor of Science in Engineering! Investors will appreciate it, with its advanced Materials, known as.. Operations are well underway, and he holds a Bachelor of Science in Petroleum Engineering from College. The assumptions underlying these statements are reasonable, they may prove to be incorrect is consulting... The keyboard shortcuts stock is interesting following its transformation from TRCH stock off, as its,. Totaling up to 800 feet thick, with so is using them to improve solar panel efficiency speak! Areas of focus include 5G, self-driving cars and solar Energy times submissions amianan. A plethora of possible end users for its technology, the company sports a capitalization! ( 0 ) 1294 214402 | irish law times submissions balitang amianan meta materials special dividend to Profit Without Scammed! Artists and market manipulators ensure the proper functionality of our December update the!
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