Meta Materials Inc (OTCMKTS: MMTLP) has an enormous week ahead as the short squeeze enters its final trading days and the massive estimated 80 to 100 million short position must now cover. The excitement on MMTLP is palpable with numbers like $60 per share or $80 per share at the height of the short squeeze being thrown around and many investors vowing not to sell MMTLP for less than $100 per share. John Brda and George Palikaras have gotten busy on twitter as we wait for the corporate action to be processed by FINRA and sent to brokers by DTC. While shorts time to cover is running out, they continue to play 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 somewhere between 80 and 100 million shares, long term investors such as MarketMoves and Rollerpigeons estimate the MMTLP short position to be somewhere between 200 and 250 million. These numbers could very well be correct as John Brda stated in a recent call with Rollerpigeons, Terry Younker and other youtubers covering MMTLP; “Its good, I mean I think you guys are doing a great job. I think I said this once before, I would say on 99% of the conversation’s you guys are having you are right over the bullseye on things. There are certain things that I know, that you probably don’t know, but nothing that I know is material enough that it would affect what you are doing. Just keep up the good work and keep doing what you are doing.”
MMTLP Weekend Update: MMTLP shorts are still playing short and distort borrowing another 291,000 shares on Friday alone, and launching 3 separate short attacks throughout the day keeping the price just over $8 per share. However, MMTLP investors are not selling and as the distribution date nears somewhere between 80 and 100 million shorts have to cover and things are about to get wild. Expect volume to begin increasing very significantly. Currently we are waiting for the corporate action to be processed by FINRA and sent to brokers by DTC. We gave the heads up on MMTLP initially on October 16 in this article found here when MMTLP was $4 per share. We will be updating on MMTLP this weekend so make sure you are subscribed to Microcapdaily by entering your email in the box below.
Meta Materials Inc (OTCMKTS: MMTLP) is the placeholder for the Next Bridge Hydrocarbons Spin off from Meta Materials. One MMTLP (Series A Preferred share) will be exchanged into one Next Bridge common share once the spinoff is completed.
Next Bridge Hydrocarbons is exclusively developing its Orogrande Basin asset, the Orogrande Project, located in the Permian Basin in West Texas. The Orogrande Project has shown to have potential for multi-stack pay zone, totaling 600 to 800 feet thick, with geologic 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 called West Texas Basin, is a large sedimentary basin in western Texas and southeastern New Mexico, U.S., noted for its rich petroleum, natural gas, and potassium deposits. The Permian Basin is one of the most prolific oil and gas producing regions in the world. The Basin produced a prodigious 29 billion barrels of oil since output began in 1921. However, despite that rich production history, its best days could lie ahead. Thanks to new extraction techniques oil companies have finally figured out how to unlock the oil and gas trapped within its unique geology encompassing several stacked layers of hydrocarbon-bearing rock formations. Permian Basin operators are driving oil and gas production to all time new highs. Many of the biggest oil operators in the country have a long history in the Permian including Occidental Petroleum, Chevron, ExxonMobil, and Apache to name just a few.
I have all the details of the Fraud wil give it to the right people for those longs https://t.co/jgIxHvK3fX
— HAM (@HAMShortkiller) December 1, 2022
— HAM (@HAMShortkiller) December 2, 2022
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Today, META requested FINRA to halt $MMTLP on Dec 14th at close (current distribution date)… OR to freeze trading on Dec 12th at close (current record date). Please take the time to READ the S1. NO public trading after the distribution date, i.e. there is NO ex-dividend date.
— George Palikaras (@palikaras) December 1, 2022
Rollerpigeons stated: “John Brda stated that he is very frustrated about FINRA approval. Nextbridge needs to do it today. This does not mean 424 approval or spinoff approval; those dates have already been approved by FINRA. The dates on the prospectus have been approved by FINRA. So, what FINRA approval do we need? There is a process to do this. You hear different things, FINRA, the corporate action notice comes from FINRA. The corporate action notice comes from DTCC. So far brokerages have not received any corporate action notices…Nobody has gotten this notice because the process has not finished. Sometime after the SEC approval and the prospectus, FINRA approval and the dates are all set, it goes for approval to the corporate actions department at FINRA, and FINRA processes the corporate action for the CUSIP change. So FINRA is going to process the CUSIP change, the change into Nextbridge where there will be no CUSIP and MMTLP will be cancelled and you will be given shares in the private Company Nextbridge Hydrocarbons…FINRA does not notify brokers of this change, its bureaucratic, so they post it on the daily list…once it’s posted on the daily list…DTCC sends out notices to brokers. FINRA is not going to send a notice out to brokers, DTCC does when they see it on the daily list. So FINRA hasn’t finished doing this and John Brda is frustrated…Shorts are going to take this information and they are going to distort it. there are a lot of short positions that need to close. I calculate there is between 216 and 280 million shares of MMTLP short, that are naked shorts, failed to deliver that need to close their positions. The dates are pendent ink, December 12 and December 14 are pendent ink.”
Terry Younker put out another great video on MMTLP on Friday stating: “So HAMShortkiller has about 5,000 followers, a lot of the meta fam is now following this gentleman, so his goal is to expose naked short sellers’ period…John Brda tweeted: @HAMShortkiller take a look at $mmtlp $mmat. I would be happy to bring you up to speed. Falls right in line with the Companies you are shedding light upon.” John Brda later pinned @HAMShortkiller tweet back “$mmtlp spoke with him Great guy, I have all the details of the fraud will give it to the right people for those longs.” Things are going to be happening here very soon, a lot of attention is coming to MMTLP. Last night George Palikaras tweeted: “Today, META requested FINRA to halt $MMTLP on Dec 14 at close (current distribution date). Please take the time to READ the S1. NO public trading after the distribution date. i.e. there is NO ex-dividend date.” he also tweeted: “the Series A Preferred Stock of Meta will NOT be DTC eligible. The effective Form S1 registration statement discloses this. Upon distribution, the Series A Pref ($MMTLP) will be cancelled. (in accordance with the Cert of Designation -section 3(e)”
Metamaterial News tweeted on Thursday that there are “Over 150 comments on @FINRA page/post regarding MMTLP (Their Twitter Engagement up 500%+ ) Over 200 mentions of $MMTLP and @FINRA from peoples post. Over 20 confirmed calls to FINRA regarding MMTLP. We are using are voice as investors now let’s see action. On Saturday he retweeted:
— ShortSqueeze (@AShortSqueeze) December 3, 2022
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John Brda h John Brda has continued tweeting on Saturday concerning the corporate action tweeting: Friend spoke with @FINRA examiner. He was told that they are acutely aware of the $MMTLP issue, but could deny corporate action or request change to S1 using rule 6490..Last bullet pt. in 6490 reads, can be denied if: there is significant uncertainty in the settlement and clearance process for the security. Telling if denied for this reason since @FINRA listed $MMTLP with no issuer knowledge and with fraud info. “While it seems unlikely that FINRA would approve the record and distribution dates and then not process the Corporate Action John Brda continues to investigate tweeting later on Saturday: “I hear there is a bit of confusion going on. @FINRA has not notified anyone of anything. We are continuing to move forward and will push this through.” As we have been reporting MMTLP has already been widely compared to recent short squeezes $HKD and Overstock $OSTK which squeezed from $7 to $120 per share. We will update on MMTLP as soon as anything new happens so make sure you are subscribed to Microcapdaily by entering your email in the box below.
Disclosure: we hold no position in MMTLP either long or short and we have not been compensated for this article.