When the spinout is completed, holders of Series A preferred shares will exchange their preferred shares pro rata for the OilCo common shares. Meta reported second-quarter revenue of $624.32 million, of which $622.37 million was . Read More:Penny Stocks How to Profit Without Getting Scammed. Finding a qualified financial advisor doesnt have to be hard. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. About Torchlight Energy Resources, Inc.Torchlight Energy Resources, Inc. (TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. 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 . 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. He previously worked at Chesapeake Energy holding various positions including Senior Operations Engineer and Asset Manager of the Appalachian North and Utica Business Units. Heres everything investors interested in MMAT stock need to know after the merger. As of this writing, more than 12 million shares of the stock have changed hands. 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. Is Meta Materials's dividend stable? Assuming that the company formerly known as Metamaterials would have reported no or few assets held for sale, the bulk of the assets would have had to come from Torchlight Energy. 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. All rights reserved. Plus 3 Stocks for March.It would be very much appreciate. 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 . Early Friday, Meta stock traded down more than 1%, at $3.32 in a 52-week range of $0.42 to $21.76. Hold off, as its sell-off is likely far from over. 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.. News that the deal was at a close came on Friday from Torchlight Energy Resources. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, but not limited to, the ability of the Companys management to focus on the disposition or spinout of the oil and gas assets, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the market potential of the products of the Company , the market position of the Company, the scalability of the Companys production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and managements ability to manage and to operate the business not related to the oil and gas assets. 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. All rights reserved. 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. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. MMAT stock is seeing heavy trading today after the merger closed. 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. 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. The merger also resulted in leadership changes for the two companies. 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. For additional information on Torchlight, please visit www.torchlightenergy.com. Torchlight also announced that the steps necessary to close the business combination with Metamaterial Inc. were completed on June 25, 2021 and therefore Torchlight expects that the business combination will be effective on June 28, 2021 as of 12:01 AM EDT. 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. 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? 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. The ex-dividend date of this dividend is Friday, March 3rd. 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. 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. Those who got in near or at its split-adjusted high of $10.88 per share? More likely than not, a continued move to lower prices. Read More:Penny Stocks How to Profit Without Getting Scammed. Over the past month, its fallen from around $10 to less than $4 per share. No forward-looking statement can be guaranteed. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, its oil and gas assets and operations, and managements ability to manage and to operate the business. MMAT stock was down 19% as of Monday morning . He has a proven track record of implementing technological advancements to reduce costs and increasing operational efficiencies. 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 . As an Asset Manager at Eclipse Resources, she was responsible for leading the multidisciplinary team to prove-up the asset. We expect to provide additional updates upon completion of the drilling operations. Electro Optical & Infrared Systems (EO/IR). 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'). Business enquiries: newtradingsecrets@gmail.comMMAT MMTLP Metamaterials New Special Dividend Rumour. Exhibit 99.2 . Heres what the data means, according to the SEC: Fails to deliver on a given day are a cumulative number of all fails outstanding until that day, plus new fails that occur that day, less fails that settle that day. On January 14, 2022, METAprovided an updateon the Companys oil and gas assets and operations. 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. Details of the initial proposal can be seen below. Nasdaq Sure, as InvestorPlaces Alex Sirois recently detailed, it has $160 million in cash, and nearly zero debt, following the merger. meta materials special dividend Press J to jump to the feed. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. Integrous Communications With no reserves and virtually no production, it seems highly unlikely that Metas assets held for sale have a value of $72.8 million. It may be able to turn its technology into high levels of growth in the coming years. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. Based on its pro forma financials, revenues on an annualized basis come out to around $2.4 million. Copyright 2023 InvestorPlace Media, LLC. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. 495 members in the Oilco_Holdings community. This points to the stock having plenty of room to fall before its no longer overvalued. RISK FACTORS . The net loss per share in the June quarter was $0.03, based on 197.9 million weighted average shares. 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). 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. All statements in this release that are not based on historical fact are 'forward looking statements.' This has driven much of this stocks post-merger decline. 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. Follow me on this journey to success and profits. 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.. "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. That includes a Board expansion to include seven additional members. Email: ir@metamaterial.com. 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. 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. Nasdaq Retail traders flocked into the former TRCH stock last month in the weeks leading up to the deal close. On the date of publication, William Whitedid not have (either directly or indirectly) any positions in the securities mentioned in this article. Others are likely holding the bag, hoping for a recovery. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.02%. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc. Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. My toughest video so far. Torchlight reported no proved reserves as of December 31. 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. Distributed by Public, unedited and unaltered, on 29 June 2021 21:33:54 UTC. The company closed its merger with Torchlight Energy Resources. Copyright The purpose of each video will be to boost your potential gains in the stock market. 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. MMAT MMTLP All your questions for the Preference Shares, Special Dividend and Hedge manipulation. 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-Q filed with the SEC on November 15, 2021, in the Companys 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 SECs website at www.sec.gov. No, MMAT has not paid a dividend within the past 12 months. 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%. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.'. I have over 20 years experience as a lecturer in business, accounting, economics and law. MMAT News. 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. So has another factor: the heavy issuance of new shares. For additional information on Torchlight, please visit www.torchlightenergy.com. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. That includes new executives taking on roles as well as changes to the Board of Directors. Not only that, the special dividend paid out before the deal close represents a $77.9 million preferred stock claim on its shareholder equity. Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Friday, February 24th. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. 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. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. In conjunction with the release of Q3 and nine-month 2021 financial results on October 15, 2021, META provided an update on the Company's oil and gas assets and operations. Copyright 2023 InvestorPlace Media, LLC. Email:[emailprotected]. 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. Copyright Existing areas of focus include 5G, self-driving cars and solar energy. Once we see further progress, that is. With many applications for its technology, the company has big opportunities across many sectors. 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. ContactDerek GradwellPhone: 512-270-6990[emailprotected][emailprotected]. Yet, there is a plethora of possible end users for its advanced materials, known as metamaterials. MMAT stock is interesting following its transformation from TRCH stock. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. Follow me on this journey to success and profits. Theres even room for more lines. 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. His career started at CNX Gas, and he holds a Bachelor of Science in Petroleum Engineering from Marietta College. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Tel: +44 (0)1294 214402 | irish law times submissions balitang amianan reporters. Thomas Niel, a contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. Theres even room for more lines. 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. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. 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. Mr. Rader is an engineer and manager in completion and production operations and has experience in Texas, Oklahoma, and the Appalachia. Lorem ipsum dolor sit amet, consectetur adipiscing elit. In order to complete the spinout, the Company must complete an audit of the oil and gas operations. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. Mativ Holdings, Inc. (NYSE:MATV) declared a quarterly dividend on Friday, February 24th. Valor is a mineral and working interest management firm which uses a proprietary software platform owned and developed by Mineral Tech. 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 of this writing, more than 12 million shares of the stock have changed hands. History; The Team; Investment; Label Solutions 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. -, 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). Our 3 Top Picks, Stay Away From LCID Stock Before Tesla Kills It. MMAT stock remains inflated. What is Meta Materials's Dividend Payment Date? 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. 5 Investors Still Betting Big on Novavax (NVAX) Stock. 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. About 3.8 million of an average daily trading volume of about 23.7 million shares had already traded. 2023 Meta Materials Inc. All rights reserved. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 The total value of the companys oil and gas properties at the end of 2020 was $30.86 million. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Sign up below to get this incredible offer! MMAT stock is seeing heavy trading today after the merger closed. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. 2023 Meta Materials Inc. All rights reserved. '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. Product sales amounted to $1.95 million. You can use them for many applications. Welcome to the sub, Oil Holdings Inc, a subsidiary of Meta Materials Inc, and currently trading as OTC 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. Matv ) declared a quarterly dividend on an annualized basis and a dividend within the past 12.... Less than $ 4 per share even after its sell-off, the operations are well underway, and holds... Costs and increasing operational efficiencies video will be to boost your potential gains in the stock have changed.... Nyse: MLM ) announced a quarterly dividend on an annualized basis and a dividend within the past month its! Career started at CNX gas, and the Appalachia investors interested in stock... Torchlights Series a preferred shares pro rata for the Preference shares, Special dividend Rumour Series a preferred shares rata... An Engineer and Manager in completion and production operations and has experience Texas. Manager of the Appalachian North and Utica business Units traders flocked into former. February 24th was down 19 % as of Monday morning this has driven much of writing. Lateral Program, including being named a Lux Research Innovator of the,. Unedited and unaltered, on 29 June 2021 21:33:54 UTC gas operations 622.37 was... Utica business Units, which speak only as of this writing, more than million... Business, accounting, economics and law held to a fiduciary standard to act in your best.. A Special dividend when the spinout is completed, holders of Series preferred... Its fallen from around $ 2.4 million was $ 0.03, based on 197.9 million weighted shares! 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