Meta Materials Inc (OTCMKTS: MMTLP) has a tremendous week ahead as the short squeeze enters its final trading days and the massive estimated 80-100 million short positions now need to be covered. The excitement at MMTLP is palpable with numbers like $60 per share or $80 per share at the peak of the short squeeze being tossed around and many investors vowing not to sell MMTLP for less than $100 per share. John Brda and George Palikaras We’ve been engaging on Twitter as we wait for the corporate action to be processed by FINRA and sent to brokers by DTC. As short time to cover is running out, they continue to short and distort, borrowing another 291,000 shares on Friday alone and launching 3 separate short attacks throughout the day.
While the general consensus is The MMTLP short position is between 80 and 100 million shareslong-term investors like MarketMoves and Rollerpigeons estimate the MMTLP short position at 200-250 million. Those numbers may very well be true, as John Brda recently pointed out in a conversation with Rollerpigeons, Terry Younker, and other YouTubers reporting on MMTLP; “It’s good, I mean, I think you guys are doing a great job. I think I’ve said this before, I would say that 99% of the conversations you have are spot on. There are certain things I know that you probably don’t know, but nothing I know is material enough to affect what you do. Just keep going and keep doing what you are doing.”
MMTLP Weekend Update: MMTLP shorts are still playing short and distorting, borrowing another 291,000 shares on Friday alone and launching 3 separate short attacks throughout the day, with the price remaining just above $8 per share. However, the MMTLP investors are not selling and as the distribution date nears between 80 and 100 million shorts need to be covered and things are getting wild. Expect the volume to increase very significantly. We are currently waiting for the corporate action to be processed by FINRA and sent to brokers by DTC. We originally published MMTLP’s heads-up in this article on October 16th, when MMTLP was $4 a share. So we will be updating to MMTLP this weekend Make sure you are subscribed to Microcapdaily by entering your email address in the box below.
Meta Materials Inc (OTCMKTS: MMTLP) is the placeholder for Meta Materials’ Next Bridge Hydrocarbons spin-off. One MMTLP (Series A Preferred Stock) will be exchanged for one common share of Next Bridge upon completion of the demerger.
Next bridge hydrocarbons is exclusively developing its Orogrande Basin project, the Orogrande Project, located in the Permian Basin of West Texas. The Orogrande project has shown potential for a multi-stack prospect 600 to 800 feet thick overall with geological and reservoir similarities to the Midland Basin. 134,000 Net Acres, 3,150 potential well locations and 3.2 billion to 3.7 billion potential recovery (BBL)
The Permian Basin, also known as the West Texas Basinis a large sedimentary basin in western Texas and southeastern New Mexico, USA, known for its rich deposits of petroleum, natural gas, and potassium. The Permian Basin is one of the most productive oil and gas producing regions in the world. The basin has produced a staggering 29 billion barrels of oil since production began in 1921. However, despite this rich production history, its best days may still be ahead. Thanks to new extraction techniques, oil companies have finally figured out how to release the oil and gas locked within its unique geology, which includes multiple stacked layers of hydrocarbon-bearing rock formations. Permian Basin operators are driving oil and gas production to new all-time highs. Many of the country’s largest oil companies have long histories in the Permian, including Occidental Petroleum, Chevron, ExxonMobil, and Apache, to name a few.
$GTII $MMTLP $MMAT talked to him Great guy
I have all the details of the scam and will be relaying them to the right people for these cravings https://t.co/jgIxHvK3fX
— HAM (@HAMShortkiller) December 1, 2022
FINRA play slowly Sure. $MMTLP https://t.co/QZp2v0mItS
— HAM (@HAMShortkiller) December 2, 2022
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Today, META asked FINRA to stop doing this $MMTLP on December 14th at the close of trading (current payout date)… OR to freeze trading on December 12th at the close of trading (current cut-off date). Please take the time to READ the S1. NO public trading after the payout date, meaning there is NO ex-dividend date.
— George Palikaras (@palikaras) December 1, 2022
roller pigeons said: “John Brda stated that he was very frustrated with the FINRA approval. Nextbridge has to do it today. This does not imply 424 approval or spinoff approval; this data has already been approved by FINRA. The data in the prospectus has been approved by FINRA. So what FINRA approval do we need? There is a process for this. You hear different things, FINRA, the Corporate Action Notice comes from FINRA. The Corporate Action Notice is from DTCC. To date, brokers have not received any corporate action notices… No one has received this notice because the process is ongoing. Sometime after the SEC approval and prospectus, FINRA approval and dates are finalized, it goes to FINRA’s corporate actions department for approval and FINRA will process the corporate action for the CUSIP amendment. So FINRA will process the CUSIP change, the change to Nextbridge where there will be no CUSIP and MMTLP will be canceled and you will get shares in the private company Nextbridge Hydrocarbons… FINRA doesn’t notify brokers about this change, it’s bureaucratic so post it on the daily list…once it’s on the daily list… DTCC sends notices to brokers. FINRA will not send a notice to brokers, DTCC will if they see it on the daily list. So FINRA hasn’t finished this yet and John Brda is frustrated… Shorts will take this information and they will distort it. There are many short positions that need to be closed. I estimate that between 216 and 280 million MMTLP shares are short, these are naked shorts that couldn’t deliver that they have to close their positions. The dates are hanging ink, December 12th and December 14th are hanging ink.”
Terry Younker released another great video on MMTLP on Friday and said: “So HAMShortkiller has about 5,000 followers, lots of meta fams now following this gentleman so his aim is to uncover the naked short seller era… John Brda tweeted: @HAMShortkiller check out $mmtlp$ mmat. I’d be happy to update you. Fits perfectly with the companies you’re spotlighting.” John Brda later pinned back @HAMShortkiller’s tweet: “$mmtlp spoke to him. Great guy I have all the details of the scam and will be relaying it to the right people for this long one.” Something is going to happen very soon here, MMTLP is getting a lot of attention. Last night, George Palikaras tweeted: “Today, META FINRA has requested to halt $MMTLP on December 14th at close of trading (current distribution date). Please take the time to READ the S1. NO public trading after the distribution date. ie there is NO ex-dividend date.” He also tweeted, “Meta’s Series A Preferred Stock will NOT be DTC-eligible. The valid registration statement of Form S1 discloses this. Upon distribution, the Series A Pref ($MMTLP) will be canceled. (in accordance with the Designation Deed – Section 3(e)”
Metamaterial News tweeted Thursday that there are “over 150 comments on the @FINRA page/post regarding MMTLP (their Twitter engagement is up 500%). Over 20 confirmed calls to FINRA regarding MMTLP. We use our voice as investors, now let’s see action. On Saturday he retweeted:
#FINRA do your job @FINRA At least make a statement or take this show to the streets.
Many investors see the manipulation…$MMTLP $MMAT pic.twitter.com/rqTZnb5TW8
— ShortSqueeze (@AShortSqueeze) December 3, 2022
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John Brda h John Brda continued to tweet on Saturday on corporate action tweeting: Friend spoke to @FINRA auditor. He was told that they are very aware of the $MMTLP issue but could refuse corporate actions or request a change to S1 with rule 6490..Last bullet point. in 6490 reads, may be denied if: There are significant uncertainties in the security handling and approval process. An indication of whether this is denied for this reason as @FINRA listed $MMTLP without the knowledge of the issuer and with fraud information. “While it seems unlikely that FINRA would approve the recording and distribution data and then not process the corporate action, John Brda further investigated the tweet later on Saturday: “I heard there was a little confusion. @FINRA has not notified anyone of anything. We’re moving forward and we’re going to enforce this.” As we’ve previously reported, MMTLP has been widely compared to recent short squeezes in $HKD and Overstock in $OSTK, which fell from $7 to $120 a share. We’ll update MMTLP as soon as anything new happens, so make sure you’re subscribed Microcapdaily by entering your email address in the box below.
Disclosure: We are not long or short in MMTLP and have not been compensated for this article.