Seems suspicious as crap you can’t post over there as shorts will keep on getting burnt as company going private they are 2000% screwed. Nice reverse head and shoulders on MMAT but MMTLP is where you want to be…
MMTLP
TLDR-Company going private. Most shares are locked up. Shorts will have to close causing Mega squeeze.
Based on their predictions, many folks are now saying their floor is $70+ per MMTLP.
Let's start out with the Torchlight oil discovery. This is straight from the Torchlight investor presentation.
Link to TRCH Discovery Presentation
https://preview.redd.it/asgkc7uwtvs91.png?width=1242&format=png&auto=webp&s=a533491881b0b7a853d55cde483d944524a2c4d
Torchlight first discovered flowing hydrocarbons in the Orogrande, August of 2018, when oil was at $65. It was about to hit a high of $75, after coming back from a negative value in 2016, when the cost to extract oil was higher than the cost to sell a barrel. Two-to-four months later, oil tumbles back down to cutting even costs at $42.
By the end of 2019, they realize what they have. Oil hasn't been doing too bad. It has been floating in a range of profit. They want to find investors so they can develop the assets for sale. See above.
We all know this part of the story... COVID hits and crushes the market. Oil prices too. It literally goes negative.
WTI Oil Prices for the last 10 years
https://preview.redd.it/2vxre8970ws91.png?width=891&format=png&auto=webp&s=931e3919f4e3b9ceb542b89e2abdab91e5eacde7
Torchlight goes, F it. We have 3.2 billion barrels of oil and probably half a billion equivalent of natural gas. Problem is, oil business hasn't been kind lately and we need money to develop the assets.
Enter Meta Materials, who is in search of a Nasdaq listing. They decide to merge. Torchlight gets the ability to fund their O&G assets and Meta gets their listing.
According to Ken Rice, CFO of MMAT, at the time of the merger, the share count should have roughly been spit 50/50 based on market cap.
Torchlight management believed in the their discovery so much, they said they would give up 25% of controlling interest in the new company, so they could keep the controlling interest in the O&G assets. That's super bullish BTW.
Upon merger, TRCH shareholders, would received 1 for 1 of MMAT and a 1 for 1 Series A Preferred Share Placeholder. The "placeholder" was never meant to be traded and even had many different names, depending on what brokerage you were using. "MMAT1, TRCHP," Etc.
There are A LOT OF ESTIMATES on the value of these assets. When the merger was happening, I remember many folks said they would be cool with $2 to $5.
George Palikaras, CEO of MMAT, was talking to some people about this deal and he said, he didn't know they were recording him. He was recording saying first of all, that he is not an oil guy and his predictions can't be trusted. None the less, he predicted.
At the time, oil was between $40-$50 per barrel. Barely a profit. He said that the dividend could be anywhere from $1 to over $20 per placeholder and given the current Biden administration, depending on what he did to the oil market in the future, $20 could be a low number. Full recording.
Since then, oil reached a high of $130 per barrel and the current 12 month rolling average is over $90 per barrel. Who could predict a war with a huge oil producing country? Future predictions are much higher now.
Enter the unofficial mascot for MMTLP: Bird Lady, Roller Pigeons. I call her Pidge. This lady is pretty smart. She definitely knows her math, but she wears a bird costume. She said, it was like a disclaimer so, in case her predictions were off, you can't sue. We'll see I guess.
She came up with a formula to predict the value of the assets. Then, appeared another very smart person, Tony, from the Market Moves on YouTube. he saw what she was saying and was like, I'm really good at math. I bet I can back test her method and see how accurate it is. Turns out, it's pretty accurate. They've used it to show the math on several oil deals this last year and they all came up with matching numbers.
Here is Tony's video on him back testing roller pigeons method.
One of his latest videos links to much more info about the value of the assets and the evolution of this play. He's a wealth of knowledge on this play. Pidge is too, if you can get past the bird suit.
Based on their predictions, many folks are now saying their floor is $70+ per MMTLP.
Enter the shorts and why this is being brought to this sub. Torchlight, not only had unfavorable oil prices, but do to market conditions, shorts were heavily betting on the company going bankrupt.
John Brda, CEO of TRCH, said in a Twitter space hosted by Cyntax, he had a Nasdaq rep who he would talk to about the shorts and how once, there was 300k more shares shorted than what was traded per day. Brda said, they told him they knew this, but most of the shorts were overseas and they had no governing rule or ways to even find them, if they did. This is paraphrased, as I lived all these events as they happened. Listen for yourself to get the word for word. I prefer to watch it with Terry...
Going into the merger, The shorts were relentless. On Monday, TRCH hit an all-time high of $11+. Ex div date was Tuesday, and we were told we had to hold the share until Friday to receive this dividend placeholder. That didn't turn out to be true due to a loophole, but that's another story.
Here is the short data from TRCH up through it's last days.
https://preview.redd.it/z8cv571j6ws91.png?width=1791&format=png&auto=webp&s=8416bb47f491d7dc2caa214904837ae5143b5be5
The merger was supposed to take place AH June 30th, trading first day as MMAT, July 1st. As you see, short report stops on the 25th of June. 3 trading days early, Meta announces two things, we finished the merger early. Starting Monday we will trade under our new Nasdaq listing, MMAT. Oh, we will also Reverse Split 2 to 1, to follow Nasdaq compliance.
Win/lose situation for the shorts. Shorts are trapped in this placeholder. The MMAT side showed weakness and they took advantage of that. A story of the next short squeeze to come...
They were not expecting, to not be able to close their positions!!! Over 20 million reported shorts on the last day.
Fast forward a few months. Suddenly, all these placeholders changed names from whatever they are called at the time, to MMTLP. The community has a meltdown. No one knows what is going on.
The next day, they have a value? everyone is confused. Is this our dividend? It starts trading at .10 and quickly shoots up to .70 per MMTLP. I bought thousands on degenerate gambler status.
Day two, early morning, it shoots to $3.20. I'm eating breakfast trying to show my wife, who could care less, saying, it happening! She goes, will you sell. I'm like, hell no. We're talking 3.2 billion barrels of oil here.
It instantly drops back down to low 2s and from then on, it mostly floated in the $1.30-$2 lane.
After, we find out that two market makers got together and went to Finra to get a ticker and listed the placeholders on the OTC Grey market. They could do this because in the merger paperwork, someone mistakenly put transferable to describe the placeholder.
Us OG holders have always known what we hold, so most of us have been accumulating more this whole time. I had 21K and now hold 30K. Golden opportunity, as far as we are concerned.
Brda said, in that interview above, if the shorts had closed the books on their short positions with Meta and TRCH, MMTLP would never have existed. I believe that to be true.
You would think, shorts covered right? Maybe some. Remember, many shorts are overseas, where they have no access to OTC. Many of the MMTLP holders in our retail community complain about this daily. They can't buy or sell and will be forced to go to the new oil company, Next Bridge Hydrocarbons.
I guarantee some did close their positions. Funny thing about making this tradeable, more shorts piled in!!! There was a day last week, someone reported 400,000 more shorts in a day we rose over 10%.
The intention for these assets was to sell and distribute the value to the TRCH shareholders. That did not happen, so they have decided to spin off the assets into wholly owned subsidiary of MMAT, called Next Bridge Hydrocarbons.
Next Bridge has said, they plan to continue to develop the assets for sale. Insiders never sold above $3 and according to Brda, they intend to go to NB. He said they not only haven't sold a single share, but many of his friends have bought more.
NB will act as private company at first, with no listing. It will not be publicly traded. You can not short a company that is not publicly traded. All shorts will be forced to close their position. Even the ones that their brokerage won't let them trade OTC. The broker will do it for them and make them pay.
In June of this year, '22, we filed our first S1 form, to spin off the assets to NB. We are now up to the 2nd amendment, S1A2, and it this last filing Meta including a new section that directly references MMTLP and the implications of the company going private, essentially.
https://preview.redd.it/56mpalh3cws91.png?width=1328&format=png&auto=webp&s=6042b4d48d7343304afe759e0fff4665f39b7292
https://preview.redd.it/ejvuwig7cws91.png?width=2206&format=png&auto=webp&s=5636043e7e8848b380be2903a342a4b826775484
Here's the full S1A2
That was last Wednesday and we've run only 60+% since then. Current share price is $2.47. This has 10-100x possibilities.
Insiders hold 1/3 of the shares available and they all said they are going long. Most overseas brokers are not allowing trading at all. Retail have continued to accumulate for a whole year! No one is selling at least until the S1 is approved or we start seeing over that $20 mark. Most are saying $50+ now. There is just too much good DD done around this for the community to sell for pennies when this could make everyone rich.
Think about it. Most of the shares available are locked up in some way. SHORTS HAVE TO CLOSE BEFORE THIS GOES PRIVATE. Low available supply combined with high demand from a group that has to purchase back shares at any price. ANY Price. We don't sell, the price continues to rise. period. If you can't get that, you should stop trading. For real. This has the ultimate potential.
Not advise. I'm not a financial advisor. Don't sell your house or something crazy like that. as always, invest only what you can afford to lose.
Much of the stuff I didn't site can be found with the links to interviews, videos, etc...
https://www.reddit.com/r/Shortsqueeze/comments/y05rst/mmtlp_submitted_for_your_approval_the_tale_of_the/
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