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. For additional information on Torchlight, please visit www.torchlightenergy.com. Others are likely holding the bag, hoping for a recovery. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.comswriters disclose this fact and warn readers of the risks. As many as 148 million FTD shares of Meta are said to be outstanding. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Before you run out and buy this stock, keep in mind its many years away from coming even close to this level of success. As of this writing, more than 12 million shares of the stock have changed hands. News that the deal was at a close came on Friday from Torchlight Energy Resources. Until we see further progress with its big plans, its best to stay away. 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. 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. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. How High Can the Supreme Court Take SOFI Stock? 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.. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. 2023 InvestorPlace Media, LLC. Sign up below to get this incredible offer! Distributed by Public, unedited and unaltered, on 29 June 2021 21:33:54 UTC. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. 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. 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 assets or proceeds therefrom are transferred as rapidly as possible to the Series A Preferred stockholders. RISK FACTORS . Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc. Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Home; Our CV. Yet, there is a plethora of possible end users for its advanced materials, known as metamaterials. Follow me on this journey to success and profits. At the end of 2020, Torchlight reported total production for the year of 5,445 barrels of oil and 5 million cubic feet of natural gas. '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. Therein lies the problem. Product sales amounted to $1.95 million. 2023 Meta Materials Inc. All rights reserved. Thomas Niel, a contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. 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. If you're new to stock investing, here's how to buy Meta Materials stock. Many investors are counting on a windfall, based on short covering. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Existing areas of focus include 5G, self-driving cars and solar energy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including those risks and uncertainties described in or implied by the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our 2020 Annual Report on Form 10-K, filed on March 18, 2021, our First Quarter 2021 report on form 10-Q filed on May 14, 2021 and our other reports filed from time to time with the Securities and Exchange Commission ('SEC'). 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%. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. All rights reserved. Meta closed the second quarter with cash and equivalents totaling $154.63 million and long-term debt of $2.74 million. Early Friday, Meta stock traded down more than 1%, at $3.32 in a 52-week range of $0.42 to $21.76. Stockholders of record on Tuesday, March 7th will be paid a dividend of 0.40 per share on Friday, March 24th. No forward-looking statement can be guaranteed. 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. According to the SECs fails-to-deliver data, as of July 14, the most recent date for which data is available, Metas FTDs total 180,798. Phone: 1-877-255-8483 In the prior quarter, the company reported a net loss per share of $0.01 on 155.9 million shares. Torchlight reported no proved reserves as of December 31. Twitter: @TradingSecrets7Hit that notification bell and subscribe for early updates to every video so you never miss out. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. Exhibit 99.2 . The company dealt with oil and gas exploration and production. This will include membership of our Discord where I hope to build a community of traders to help each other increase wealth. On January 14, 2022, METAprovided an updateon the Companys oil and gas assets and operations. The purpose of each video will be to boost your potential gains in the stock market. Ms. Oelkers has managed engineering teams at Eclipse Resources and Montage Resources, achieving cost and efficiency improvements while implementing innovative technology for substantial reserve recovery. Theres plenty here that could excite investors once again. Email:[emailprotected]. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Daren Rader 16 Years Experience. 5G reception enhancement is one such possible use. 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. For further details and to join please visit:https://www.patreon.com/TradingSecretsJoin our Million Dollar Challenge. The preferred shares were issued on a one-for-one basis to Torchlight shareholders of record on June 24. Meta reported second-quarter revenue of $624.32 million, of which $622.37 million was identified as development revenue. Sure, as InvestorPlace's Alex Sirois recently detailed, it has $160 million . 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. 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. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Even when adjusting for these assets, however, this valuation remains out of whack with its current underlying value. Valor is a mineral and working interest management firm which uses a proprietary software platform owned and developed by Mineral Tech. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.". 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. 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. Prior to the implementation of the reverse stock split, it was expected that Metamaterial, Inc. shareholders would receive 3.690 shares of Torchlight common stock in exchange for each of their shares of Metamaterial. 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. 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. 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. 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. Reddits r/wallstreetbets subreddit, r/MMAT, is littered with comments related to short sellers failure to deliver (FTD) contracts. META has been utilizing a team of asset managers who bring significant experience in oil and gas exploration. This is my toughest video so far and am aware that not all investors will agree with the questions but I think it is important to present them. 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. He co-founded Valor Mineral Management and Mineral Tech. 1125 N. Charles St, Baltimore, MD 21201. MMAT stock is interesting following its transformation from TRCH 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. You will get early access to the daily stock alerts and also the weekly watchlist. "I would like to take this opportunity to thank all of Torchlight's shareholders, its Board and the team at Metamaterial Inc. for their long time support, enthusiasm and efforts in making this merger a success," commented John Brda, Torchlight's Chief Executive Officer. 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 . 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. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.'. Therein lies the problem. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. He has a proven track record of implementing technological advancements to reduce costs and increasing operational efficiencies. Accordingly, readers should not place undue reliance on any forward-looking statements or information. 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 . Learn more atwww.metamaterial.com. 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 . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. He led the drilling and operational teams through the development of the super-lateral program highlighted by the drilling and completion of the world record setting Purple Hayes 1H Well. This has driven much of this stocks post-merger decline. 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. More details about these and other risks that may impact the Companys businesses are described under the heading Forward-Looking Information and under the heading Risk Factors in the Companys Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2, in the Companys Form 10-Q filed with the SEC on November 15, 2021, and in subsequent filings made by Meta Materials with the SEC, which are available on SECs website at www.sec.gov. In 2021, the Company incurred costs of $14.2 million in relation to the drilling activity to maintain compliance with the lease obligations. Some WallStreetBets commenters appear to be adding all the FTDs over the entire 11-year life of Torchlight Energy to get the higher total. MMAT stock was down 19% as of Monday morning . 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Learn more atwww.metamaterial.com. Copyright 2023 InvestorPlace Media, LLC. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Based on short covering Companys oil and gas exploration range that was previously approved by the stockholders Friday!, of which $ 622.37 million was identified as development revenue powered by FinancialContent,! That the assumptions underlying these statements are reasonable, they may prove be! Pleased with the management of Meta Materials stock March 24th the weekly watchlist, they may prove to be all. 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meta materials special dividend