By utilizing innovative technologies in design, the first exploratory well produced 35% higher than type curve. 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.. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. META has been utilizing a team of asset managers who bring significant experience in oil and gas exploration. Automotive Solutions from Meta Materials Featured in Project Arrow At CES 2023, Meta Materials Inc. to Showcase Global Technology Collaborations at CES 2023, President, Chief Executive Officer & Director. Integrous Communications You will get early access to the daily stock alerts and also the weekly watchlist. Follow me on this journey to success and profits. 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 discrepancy appears to be a misunderstanding of what the SEC data is telling investors. Mativ Holdings, Inc. (NYSE:MATV) declared a quarterly dividend on Friday, February 24th. -, Meta Materials : Dr. Hai Sun Joins META as Director of Lithography Manufacturing and Operations, Meta Materials : Appoints Darren Ihmels as Vice President of Business Development Ophthalmics (Form 8-K). 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%. MMAT stock was down 19% as of Monday morning. 19.0k members in the MMAT community. 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. 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. Read More:Penny Stocks How to Profit Without Getting Scammed. Product sales amounted to $1.95 million. 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. Yet, there is a plethora of possible end users for its advanced materials, known as metamaterials. As of this writing, more than 12 million shares of the stock have changed hands. Business enquiries: newtradingsecrets@gmail.comMMAT MMTLP Metamaterials New Special Dividend Rumour. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Total oil and gas sales last year amounted to $193,379. No forward-looking statement can be guaranteed. 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 . Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The purpose of each video will be to boost your potential gains in the stock market. Others are likely holding the bag, hoping for a recovery. Not only that, the special dividend paid out before the deal close represents a $77.9 million preferred stock claim on its shareholder equity. The company also reported long-term lease liabilities of $1.15 million. Meta closed the second quarter with cash and equivalents totaling $154.63 million and long-term debt of $2.74 million. 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. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. '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. For investors, the most interesting part of the report might have been the line captioned Assets Held for Sale. On the date of publication, William Whitedid not have (either directly or indirectly) any positions in the securities mentioned in this article. Its operating business today isnt generating much revenue. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.". All rights reserved. Details of the initial proposal can be seen below. All rights reserved. Commencing on June 28, 2021 Torchlight's name will be changed to 'Meta Materials Inc.' and its common stock will begin trading on NASDAQ under the ticker symbol 'MMAT.'. 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. Press question mark to learn the rest of the keyboard shortcuts. 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. 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. All statements in this release that are not based on historical fact are 'forward looking statements.' This makes it the first company to join the Nasdaq with a focus on creating these materials. Plus 3 Stocks for March.It would be very much appreciate. All rights reserved. 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. Twitter: @TradingSecrets7Hit that notification bell and subscribe for early updates to every video so you never miss out. Senior Vice President All statements that address operating performance or events or developments Torchlight expects or anticipates will occur in the future, such as the closing of the business combination with Metamaterials, stated objectives or goals, our refinement of strategy, our attempts to secure additional financing, our exploring possible business alternatives, or that are not otherwise historical facts, are forward-looking statements. 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 . 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. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. 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. You can also ask questions, receive trading tips, and have your portfolio reviewed as well as getting access to our successful Million Dollar Challenge. Heres everything investors interested in MMAT stock need to know after the merger. All rights reserved. Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. 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. For additional information on Torchlight, please visit www.torchlightenergy.com. As an Asset Manager at Eclipse Resources, she was responsible for leading the multidisciplinary team to prove-up the asset. 1125 N. Charles St, Baltimore, MD 21201. He co-founded Valor Mineral Management and Mineral Tech. Electro Optical & Infrared Systems (EO/IR). No forward-looking statement can be guaranteed. Reddit and its partners use cookies and similar technologies to provide you with a better experience. I have over 20 years experience as a lecturer in business, accounting, economics and law. Mr. Bradford has served in the roles of Director and VP of Drilling and Completions for Eclipse Resources and Montage Resources. Daren Rader 16 Years Experience. Therein lies the problem. Delayed Nasdaq Torchlight reported no proved reserves as of December 31. Upon the spinout, costs associated with the oil and gas assets and operations will be carried by the OilCo as debt owed to META. Welcome to the original "Meta-Verse", r/MMAT, a place where Meta Materials Inc "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. meta materials special dividend Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. 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. 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. RISK FACTORS . -, Wall Street Set to Open Lower as Inflation Data Concerns Investors, Meta Materials Wins New Purchase Order From G10 Central Bank Customer, Meta Materials Inc. Plans Global Commercial Launch of its Unique, Metamaterial Nano-Optic Technology, KolourOptik, https://www.accesswire.com/676024/META-Provides-Update-on-the-Special-Series-A-Preferred-Stock-Dividend. Mr. DuBose has successfully acquired, managed, and/or sold thousands of royalty acres and working interests in the United States. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. It also has legacy oil and gas assets its intending to sell. Stockholders of record on Tuesday, March 7th will be paid a dividend of 0.40 per share on Friday, March 24th. This team is already consulting to OilCo and operating the Orogrande project and has been very valuable to our efforts during the drilling process. In 2021, the Company incurred costs of $14.2 million in relation to the drilling activity to maintain compliance with the lease obligations. If you're new to stock investing, here's how to buy Meta Materials stock. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.73%. 495 members in the Oilco_Holdings community. This work includes, but is not limited to, formal transfer of the assets to OilCo Holdings, Inc. (the OilCo), a newly formed wholly owned subsidiary of META, ensuring that the OilCo capital structure supports a spinout and, making any necessary filings with the SEC. Distributed by Public, unedited and unaltered, on 29 June 2021 21:33:54 UTC. 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? Accordingly, readers should not place undue reliance on any forward-looking statements or information. Sign up below to get this incredible offer! The net loss per share in the June quarter was $0.03, based on 197.9 million weighted average shares. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Strategy has now been improved to allow experienced traders to have more flexibility, with a further 3 exclusive videos for our discord members as well as the release of our stocks spreadsheet.https://youtu.be/ZTSaM530_EULesson : Million Dollar Challenge update#tradingsecrets #MMAT #milliondollarchallengeThis video is for entertainment purposes only. It all happens at the free AI Super Summit. MMAT stock remains inflated. 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. 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. Distributed by Public, unedited and unaltered, on 03 December 2021 20:21:09 UTC. 5 Investors Still Betting Big on Novavax (NVAX) Stock. HALIFAX, NS / ACCESSWIRE / March 31, 2022 /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 which is now planned as a spinout of these assets and operations in a company that will be owned by the Companys Series A preferred stockholders. O'Melveny Advises Next Bridge Hydrocarbons in Spin-Off Transaction from Its Publicly-Tr.. It all happens at the free AI Super Summit. 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. Press J to jump to the feed. 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. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in . The Company's 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. About 3.8 million of an average daily trading volume of about 23.7 million shares had already traded. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. MMAT stock was down 19% as of Monday morning . Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more atwww.metamaterial.com. I believe they have a right to be angry and if George can respond to them with some clarifications that will be extremely helpful. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. Nasdaq For now, still in its early stages, this potential is more than accounted for in its share price. Phone: 1-877-255-8483 We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. 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. MMAT MMTLP George Palikaras CEO of MetaMaterials Inc. speaks on 5G, on Microwave Journal Q&A Panel. 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. In Metas shareholder letter, Palikaras said the company had hired a consultant to help determine the best path to maximize value for the holders of the preferred shares. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. There may be opportunity down the road with the now-named MMAT stock. 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. If youre ready to be matched with local advisors that can help you achieve your financial goals, get started now. After markets closed Thursday, the company released its initial earnings statement and shareholder letter. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. 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. Early Friday, Meta stock traded down more than 1%, at $3.32 in a 52-week range of $0.42 to $21.76. If Meta Materials is pricey now, whats a reasonable valuation? Metamaterials are fabricated to achieve electromagnetic properties. 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). Some WallStreetBets commenters appear to be adding all the FTDs over the entire 11-year life of Torchlight Energy to get the higher total. 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.. Valor is a mineral and working interest management firm which uses a proprietary software platform owned and developed by Mineral Tech. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. HALIFAX, NS / ACCESSWIRE / March 31, 2022 / 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 which is now planned as a . The company closed its merger with Torchlight Energy Resources. With many applications for its technology, the company has big opportunities across many sectors. Home; Our CV. 2023 InvestorPlace Media, LLC. Theres even room for more lines. 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. Find the latest dividend history for Meta Materials Inc. Common Stock (MMAT) at Nasdaq.com. SmartAssets free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. He previously worked at Chesapeake Energy holding various positions including Senior Operations Engineer and Asset Manager of the Appalachian North and Utica Business Units. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. But today, its still trading at inflated prices and has plenty more room to fall. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. That includes a Board expansion to include seven additional members. In the prior quarter, the company reported a net loss per share of $0.01 on 155.9 million shares. Lorem ipsum dolor sit amet, consectetur adipiscing elit. (RTTNews) - Shares of BayWa AG (BYWG) were gaining around 2 percent in the early morning trading in Germany after the operator in the agriculture, building materials and energy sectors reported . To $ 193,379 June quarter was $ 0.03, based on 197.9 million average. Betting Big on Novavax ( NVAX ) stock telling investors and has been utilizing a team asset. 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