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Doubled my position. Too good to pass up.
Incredible long-term potential here. NFA.
Projected $50M 2023 Revenue; OS:40M; Float:1M; Restricted:39M
Doing some quick math... Hmmm, let me see... Yeah, a penny/share sounds about right!
I'll be shocked if MMAT doesn't break $5 this year.
If we have a successful resolution to the MMTLP / NBH fiasco, we could see *much* higher.
GoLogiq and GammaRey Sign Definitive Share Exchange Agreement for $320 Million Merger
A low-float $2.60 stock could move about $10 with news!
Today was last day to BUY, not SELL.
Owners can sell until end of trading on Monday the 12th.
The only buyers tomorrow should be shorts and brokers.
I know at least one broker is giving shorts until close of trading Friday to exit their position before the broker closes it for them. Brokers should be the only ones buying on Monday... and possibly even calling shareholders on Tuesday.
Probably a good idea to leave any GTC limit sell orders in place after the 12th, just in case.
Yes, Finra might've been clearing up confusion caused by the language in the S-1/A filing which they also used. To brokers, deleted/canceled and shares/symbols have different meanings.
The company's S1A filing stated that "immediately after the Spin-Off" all shares of MMTLP would be cancelled.
However, Finra's original notice stated shareholders would "receive one (1) share of Next Bridge Hydrocarbons, Inc. for every one (1) share of MMTLP held on Pay Date of 12/14/22."
Finra had MMTLP shares being cancelled the day before NBH would be issued to those who still held MMTLP... which would be no one. The revised notice tries to clear that up by removing "on Pay Date of 12/14/22."
Possibly because of the botched Finra notice...
"MMTLP shares will be canceled effective 12/13/22."
was changed to...
"Symbol: MMTLP will be deleted effective 12/13/22."
The original notice probably confused investors into believing their MMTLP shares would be worthless on the 13th. Instead, just the symbol will be deleted when your shares are exchanged for NBH.
https://metamaterial.com/meta-materials-announces-finra-has-revised-corporate-action-for-exchange-of-series-a-preferred/?utm_content=231043236&utm_medium=social&utm_source=twitter&hss_channel=tw-1643983478
MMTLP on Threshold List 38 consecutive trading days!
Those FTD's have to be settled before MMTLP is deleted on December 13th!
No more kicking the can down the road.
https://otce.finra.org/otce/otcThreshold
I expect many shorts will cover tomorrow, and those that don't will be forcibly closed by brokers along with outstanding FTDs on Monday. Brokers have to balance their books by Tuesday! Naked shorts must be clothed and buried. I suspect brokers will soon become aware of the gravity of their problem (i.e. not enough shares/too little time) and will be desperately calling shareholders on Monday/Tuesday to make us an offer we can't refuse.
$$$
WARNING to SHORTS... I'm NOT SELLING CHEAP!
Shorts don't have a clue what MMTLP/NBH's oil&gas leases are worth.
I'm betting it's worth a hell of a lot more than three stink'n dollars/share!!
We're talking over 200 square miles of land in the Orogrande Basin in western Texas
with an estimated 3.2 Billion barrels of oil and 6 Trillion cubic feet of natural gas!
Of course, it might take some time for Next Bridge Hydrocarbons to find a buyer/partner to pump that oil... but I can wait.
$$$
Yep, I added 210@3.00 of NBH in the last hour.
I've been able to double my position in the last couple of days. MMTLP shorts are so generous!
Just added another 650 shares... Thank you SHORTS!
If I don't get triple digits for my MMTLP, I'm holding for Next Bridge Hydrocarbons...
I figure I'll be green either way.
Pump-n-dump? Are you kidding? ACLTear, dig deeper!
Prediction: MMAT to $4+ on Wednesday!
MMTLP too hard to call... Will we see triple-digits this week or next?
$$$$$
Yes, "reasonable" prices could be met by 12/12...
and unreasonable prices might be met on the 13th as brokers scramble
to balance their books and clear FTDs before MMTLP goes *poof*.
Honestly, it wouldn't surprise me if brokers are frantically calling clients still holding MMTLP on the 13th.
I'm fine with holding for Next Bridge if my price targets aren't met...
but I'll keep my GTC orders through the transfer just in case.
$$$
In several hot plays right now including CLNV...
but few have the long-term potential of Clean Vision!
Based on projected revenue from current projects, I'd guesstimate CLNV could be trading over $1 in 12-18 months... and snowball from there as more facilities are brought online.
I encourage everyone who missed it to listen to the interview with Dan Bates, CEO of Clean Vision.
https://twitter.com/i/spaces/1eaJbrBoQmeJX?s=20
This spacecall did not start out well, and I suspect Dan knew he was losing his audience, so he threw us some red meat to chew on. This quote is from about 42 minutes in...
Fact: NO R/S unless needed to avoid delisting!
The PPS must return to $1 for 10 consecutive days to avoid delisting from Nasdaq.
Today's vote was pre-approval to do a R/S only if necessary. CEO wants to avoid this.
Remember that just the threat of being downgraded to OTC could strengthen short attacks... and might be keeping certain whales watching from the sidelines.
CrownKing's interview with CEO Dan Bates...
It starts out rough but stick with it... the second half is worth it.
https://twitter.com/i/spaces/1eaJbrBoQmeJX?s=20
CEO Dan Bates: "$0.5B in the 5th year!"
About 42m into CrownKing's CLNV interview:
What a bargain... 72¢ for a $72 stock!
Cosmos begins clinical trials next year for a new weight loss drug.
Success could easily turn this small $50M company into a mutli-billion-dollar juggernaut!
$4? DHYB... SSR will be in effect tomorrow.
Many who sold GTII to chase COSM and MMAT/MMTLP could return cash heavy just in time for the dual listing on Upstream expected mid-December.
$1 Monday? Then the real FOMO kicks in!
IDK the specific rule. However, brokers are allowed to sell shares they don't own to create liquidity in the market. They are responsible for locating those shares by the T+2 settlement date; if not, it becomes a fail-to-deliver, or FTD. Some believe brokers play fast and loose here, shifting shares between clients or other brokerages, to clear their FTDs and avoid the threshold list. In other words, they *never* settle these phantom shares. Assuming this occurred with MMTLP, this shell game will soon be coming to an end.
Similarly, for a borrower wanting to short shares into the market, I believe the broker can loan shares they don't own, often from clients' accounts. In the case of MMTLP, if a broker doesn't replace it by the record date, the new owner will receive the Next Bridge dividend and MMTLP will be deleted. Both the short and broker are screwed. It will be impossible to locate shares of Next Bridge, a private company, to place into clients' accounts. Shareholders could wake up on December 14th to find their MMTLP deleted with no Next Bridge dividend... and the crooked brokers will be exposed. They are running scared!
Sounds like brokers are worried... a good sign for us!
"When do shorts have to close their short positions on MMTLP?" is no longer a hypothetical question.
A tenfold squeeze from recent highs seems likely... so I'd set my price for MMTLP even higher; something that seems out of reach; and readjust as the volume peters out. Not financial advice. None of us know the true short interest or how high it will go.
Possible, but few of us would have the guts to hold out that long.
Word of warning: If you play chicken with dirty shorts, it might leave a bad taste in your mouth.
Not all shorts are stupid... Now that they have a firm deadline, many could exit next week.
The second week things could get crazy as FOMO drives the price as much as shorts covering.
The last couple of days could see the pps skyrocket... or it could nosedive as shareholders jump ship to avoid being locked in. For those that are trapped, it's not the end of the world since Next Bridge could be worth considerably more than MMTLP's current trading price.
Assume MMTLP hits $100, MMAT to $10-$30...
MMTLP goes bye-bye, and all attention turns to MMAT.
Many will play double-or-nothing. If MMAT continues to run, imagine the FOMO among those who missed out on the MMTLP squeeze. Ultimately, I see MMAT reaching at least half of MMTLP, and it could even surpass it.
$$$
MMTLP is Meta's Series A Preferred Stock.
MMAT owns Next Bridge Hydrocarbons, an oil and natural gas "emerging growth company."
Meta will do a 1-for-1 exchange of MMTLP for shares of Next Bridge. In other words, Meta is issuing shares of a non-public oil/gas company as a dividend to its preferred stock shareholders, then canceling its preferred stock. There are 165.5M shares of MMTLP, about half of the outstanding shares of MMAT.
The MMTLP squeeze seems inevitable because shorts and FTDs *must* be closed out over the next 2 weeks. MMAT has been trading at 20% of MMTLP; It could lag even further behind because MMAT is on the big board and subject to halts and other monkey business. However, it'll look like an even bigger bargain to those flush with new cash. I believe as the MMTLP squeeze comes to an end, MMAT could be just getting started...
$$$
Good question. Most will sell before the swap.
Record date is 12/12 with the MMTLP <--> Next Bridge stock swap on 12/14.
If you are the recorded owner of MMTLP on Monday Dec 12th, and then sell, you'll be responsible for transferring your Next Bridge shares to the new owner. I'm not sure if the shares are recorded at market open or close on 12/12.
MMTLP could skyrocket the last couple of days... or not. No guarantees.
I expect things will get crazy on Friday, Dec 9th, with wild swings up and down... but, it's possible the squeeze could be over by then if the shorts are smart. Pay close attention to the volume as D-Day approaches.
Let's assume MMTLP runs to $100. MMAT could be lagging way behind at $10.
It seems logical that many lucky lotto winners will reinvest a portion of their proceeds into MMAP.
After Dec 14th, MMTLP will be history, and all attention will be focused squarely on MMAT.
The only question is how high will it go? Could we see triple digits? I'm looking forward to finding out!
$$$ Gobble-Gobble $$$
"We have a 100.00\100.00 Squeeze Score for $MMAT!"
$MMAT short selling has been increasing since the beginning of October even though its stock price has been rising. It is getting more crowded and much more squeezable (we have a 100.00\100.00 squeeze score for $MMAT) https://t.co/JBXzVUkskj
— Ihor Dusaniwsky🇺🇦 (@ihors3) November 23, 2022
Yep, Shorts are DOOMED!
META MATERIALS INC. BOARD OF DIRECTORS APPROVES PLANNED COMPLETION OF THE SPIN-OFF OF NEXT BRIDGE HYDROCARBONS INC.
What broker are you using? Are you or your broker outside of the United States?
Schwab has never executed any of my trades below 0.0001, the legal trading increment for stocks below $1, even when the current price is 0.000001.
Here's a link to the SEC's subpenny FAQ for the Minimum Pricing Increment and here: https://www.sec.gov/rules/sro/nasd/34-53024.pdf
What was I wrong about? Par value is set by a company as the minimum legal value of its stock, and depending on the state where it is incorporated, might be zero/no-par value.
https://www.investopedia.com/ask/answers/051115/what-difference-between-par-and-no-par-value-stock.asp
Par value is set by the company as the minimum legal value its shares will trade at. If the market price drops below par value, the company is liable to its shareholders to make up the difference. In the case of RNVA, if it continues to dip below 0.0001, another R/S seems inevitable.
It's obvious that market makers are playing games with RNVA. Who else would dump $12 of RNVA for 12¢ at close on a Friday? Retail can't even trade below 0.0001.
I'm sure you are aware the SEC sets a minimum pricing increment of $0.0001 for stocks valued below one dollar. Retail cannot buy or sell below 0.0001, which also happens to be par value for this stock.
RNVA is not sub-penny rubbish... It is an operating hospital with big plans, and debt to match. Ha. All it needs is a little good news and an influx of new investors (and patients). As someone said, RNVA is a money multiplier. That is, if you buy at 0.0001 and it ticks up once, you've doubled your money. $$$
Because someone dumped 17¢ of RNVA at 15:49:30.
175k shares at 0.000001... 1/100 of par value.
Unless there is some special exclusion for the OTC market,
stocks cannot legally trade below par value which is 0.0001 for RNVA.