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WTF......
Holy Moses.... Nice
Thank you for this Art. I just happened to log into ihub and saw Len responded to me on the NGL board.
Thank you for giving me this update.
My heart sank reading his message and yours.
I'm praying for him, and his wife. I have loved reading his messages here over the past few years on other boards, and I appreciated his communication.
I feel at a loss for words at the moment.
Thanks again....
Len, I am so sorry to read this news from you. My heart just sank. I will keep you in my thoughts and prayers.
I have really appreciated your thoughtful and humorous communication over the past few years and not to mention help. I have always looked forward to hearing your thoughts.
My best wishes to you my friend.
Sincerely,
Ryan Wiggins
Anyone heard from jugs in a while?
Agreed... Lots of potential here, not only with the Special Dividend but the potential in META could be huge.
Jugs...
I don't have private message capabilities so I wanted to ask you here. NGL is kinda dead on here at the moment anyway.
I wanted to get your opinion on Torchlight TRCH.
Fortunately for me I have gained back a good portion (about 2/3) of my losses from last year in TRCH... But I want your opinion since you have a lot of information on value in your head in the Permian basin I believe.
TRCH is NASDAQ listed and is selling their gas and oil rights in the Permian, and issuing a special dividend to TRCH shareholders from the pro rata share of the proceeds. Then TRCH will be merging with MetaMaterials. Even debt holders have agreed to convert debt to common stock.
https://ir.torchlightenergy.com/company-news/detail/696/metamaterial-and-torchlight-sign-definitive-agreement-for-business-combination
https://metamaterial.com/
But in terms of the special dividend, a geologist by the name of Rich Masterson has proved oil on their rights in the Orogrande, and they looking to sell the 134,000 acres. Torchlight supposedly is in talks with 6 or 7 purchasers for the rights.
Every $1,000 in acreage value will yield about $1 per share in special dividend it is assumed.
Looking at other past 3 months acquisitions or so, it seems like it bodes extremely well for the drilling rights valuations.
https://www.forbes.com/sites/davidblackmon/2020/12/21/permian-focused-fracking-consolidation-continues-with-diamondback-deals/?sh=ecdc8e25ea53
Diamondback Energy acquired -
Guidon: 32,500 Acres * $44,897 per acre
QEP: 49,000 Acres * $26,523 per acre
https://www.forbes.com/sites/davidblackmon/2020/10/19/conocophillips-doubles-down-on-the-permian-basin-and-fracking-with-concho-acquisition/?sh=304380528e8e
ConocoPhillips acquired -
Concho: 800,000 Acres * $10,471 per acre
I was thinking it would be more in line with this & slightly higher
https://www.businesswire.com/news/home/20201217006237/en/Earthstone-Energy-Announces-Significant-Midland-Basin-Acquisition
Earthstone Energy acquired -
Independence: 42,900 Acres * $4,336 per acre
Wondering what you think.
Nice! Congrats on that position!
$TRCH Right's per acre in the Permian Basin are currently averaging around $5,000 per acre. With a sale in that range that could mean a special dividend after debt and fees are paid of more than $4.50 per share to Torchlight shareholders.
They are currently in negotiation with 6 or 7 suitors apparently.
In October 2020 ConocoPhillips acquired all of Concho Resources's and their 800,000 acres for $10,471 or over $9 Billion.
https://www.bloomberg.com/news/articles/2020-11-12/renting-a-slice-of-u-s-oil-s-hot-spot-is-70-cheaper-after-rout
In December 2020 Diamondback Energy acquired Guidon and QEP for over $25,000 per acre...
https://www.newswest9.com/article/money/economy/diamondback-energy-makes-acquisitions-of-midland/513-c66b867e-c87f-4b06-b387-d501fe3fd29b
These were established operators though, with more production. But the right acquistions cost seems to still be in the $2,000 to $5,000 per acre area. That could potentially mean $2 - $5 dollars potentially for Torchlight's oil and gas rights. Just my opinion.
I would think $2 to $5 somewhere in there....
Hopefully anyway
guess I'm the only one watching this....
Torchlight has eliminated more debt... As debt holders have converted to common shares. Torchlight is eliminating debt and preparing for merger and special dividend
Big volume in this first hour.
Anybody else watching this?
Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. Across U.S. shale, the average price has plummeted to about $5,000 an acre, compared with $17,000 two years ago.
https://www.rigzone.com/news/wire/permian_drilling_rights_price_falls_nearly_70-12-nov-2020-163845-article/
The plunge in acreage prices is a sign of the crisis facing U.S. oil and gas explorers, who are grappling with a pandemic-driven slide in crude demand after more than a decade of debt-fueled production growth. Large, financially stable producers are gobbling up smaller peers amid a wave of takeovers, the biggest of which was ConocoPhillips’s proposed purchase of Concho Resources Inc. for $9.7 billion.
“Low equity prices and the need for investor support is motivating many operators to look for new options to merge,” Rystad senior analyst Alisa Lukash wrote in a report Thursday.
Industry-wide costs for drilling and completing wells will probably drop as much as 5% next year because of consolidation, increased standardization and a drop in service costs, Rystad said. Even more capital will be allocated to the most prolific Permian acreage, the firm said.
Permian-focused Concho’s drilling rights were valued at about $10,471 per acre in the proposed ConocoPhillips takeover announced last month, according to Bloomberg Intelligence. That compares with $75,504 an acre for Concho’s purchase of RSP Permian Inc. in 2018.
Torchlight to issue special dividend!
https://apnews.com/press-release/accesswire/alternative-and-sustainable-energy-government-business-and-finance-products-and-services-government-regulations-personnel-c512a58c0a9e51ed39f2e68c279af342
PLANO, TX and HALIFAX, NS / ACCESSWIRE / September 21, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (“Torchlight”) and Metamaterial Inc. (“META”) (CSE:MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the execution of a non-binding letter of intent (“LOI”, signed on September 15, 2020), for Torchlight to acquire 100% of META and to divest within the first half of 2021 Torchlight’s oil and gas assets for the benefit of Torchlight’s legacy shareholders (the “Proposed Transaction”). Upon completion of the Proposed Transaction, shareholders of META are expected to hold a 75% interest in the combined entity.
The Proposed Transaction represents a strategic shift for Torchlight. It is intended to reposition Torchlight into the multi-billion-dollar Advanced Materials market1 as a global cleantech and technology leader. META has an extensive intellectual property portfolio, a global presence and multiple R&D and product development agreements with government agencies and private enterprises. The combined entity will continue to service a clientele of world-class OEM customers for a range of applications in the automotive, aerospace and defense, energy, consumer electronics and medical markets.
“During the past six months the oil and gas market has softened due to the economic slowdown resulting from the pandemic,” stated John Brda, Torchlight’s CEO. “In order to unlock value potential from our national listing and access to the capital markets, we shifted some attention from the divestiture of our oil and gas assets to an acquisition strategy targeting proven disruptive technology companies with strong environmental, social and governance (ESG) priorities. This Proposed Transaction is the first step in that effort, providing our shareholders with access to the multi-billion-dollar target market and new applications that are being revolutionized with sustainable technologies, while allowing them to participate in the future upside from our oil and gas asset divestitures.”
“META’s management, led by George Palikaras has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customer’s capabilities,” said Greg McCabe, Torchlights Chairman. “I am excited to work with them and equally excited about the outcome for our faithful Torchlight shareholders. Not only will their loyalty be rewarded with ownership in Metamaterials, they will also retain full value in our oil and gas assets through the Special Dividend.”
“We recognize the significant value in having a national exchange listing in the United States that will provide META with better access to the capital markets,” commented George Palikaras, Metamaterial’s President and Chief Executive Officer. “NASDAQ is the world’s premier technology exchange, providing us with the best platform to expand awareness of META on the global stage and fully realize the value of our portfolio of innovative sustainable products. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent.
“We look forward to driving significant value for shareholders in our mission to make every product smarter and more sustainable by utilizing the power of light and advanced materials.”
Many of META’s functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. META’s innovations have been reported in popular technology magazines such as Wired.com ” Bizarre New Materials Could Make Bendy Phones That Work ” and the Financial Times which listed the category of metamaterials in their “50 Ideas To Change The World” in a special annual report.
META’s products are designed and manufactured with environmental sustainability as a high priority. As a result, META has won a number of industry awards and federal government grants for its pioneering work, including being named among the “2019 Global Cleantech 100”, by Cleantech Group. The Global Cleantech 100 is an annual guide to the leading companies and themes in sustainable innovation and features companies that are best positioned to solve tomorrow’s clean technology challenges. In 2018 META was awarded “Best New Product in Commercial Aviation” by Aviation Week Network at the 63rd Annual Laureate Awards, for metaAIR®, a Laser Strike Protection solution to protect pilots from harmful laser attacks without interfering with visibility. META partnered with Airbus to develop and commercialize this technology. In 2013 Metamaterial Technologies USA, Inc (formerly Rolith Inc and now META’s subsidiary in Silicon Valley) received ” Best Manufacturing Technology” award at the tenth annual IDTechEx printed electronics industry event. META has also partnered with Lockheed Martin and the Canadian Government ’s Sustainable Development Technology Canada (SDTC) fund to develop metaSOLARTM a new solar energy product suitable for the transportation industry.
Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. In 2020 to date, META has been granted 11 new patents. META has a total of 52 granted and 37 pending patent applications, including 26 in the United States and 63 in 18 other countries around the world. META’s portfolio comprises 28 patent families, 19 of which are granted.
A video interview with both CEO’s and Torchlight’s Chairman will be available this week and separately announced with links provided.
Preliminary LOI Transaction Parameters:
The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. The Proposed Transaction remains subject to completion of a due diligence review by each party and negotiation of definitive agreements and the structure may change due to tax or other transaction considerations. There can be no assurance that the parties will reach agreement on the terms of definitive agreements or that the Proposed Transaction will be completed as currently contemplated or at all.
Torchlight to acquire META through the issuance of common stock, such that at closing, the former equity holders of Torchlight would own 25% of the combined company (the “Combined Company”) with the former equity holders of META owning the remaining 75% and META becoming a wholly-owned subsidiary of Torchlight.
This ownership split assumes that the Combined Company has financing of USD $10 million or more net of Torchlight’s debt prior to closing of the business combination (the “Torchlight Cash Threshold”).
The Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. Torchlight legacy shareholders will be entitled to a distribution of any values attributable to the sale of Torchlight’s existing oil and gas business asset (net of Torchlight’s debt, and closing expenses incurred in connection with such sale, subject to a 10% holdback to be held for a 12 month period to address any potential liabilities relating to the sale of the oil and gas assets of TRCH’s pre-closing business).
The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META.
Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the “META Note”) and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the “Loaned Amounts”). An entity owned by Greg McCabe, Torchlight’s Chairman, provided a bridge loan to Torchlight for USD $1.5 Million with a conversion feature of $.375 per common share of Torchlight.
The META Note is for a 24-month term and bears interest at 8%, with principal and interest due in a lump sum at maturity. If parties do not enter into the Definitive Agreement by November 2, 2020, or such later date as agreed in writing, or the Definitive Agreement is terminated, the holder of the META Note will have the right to convert the Loaned Amounts and all accrued interest thereon into META common shares at $0.35 (CAD) per common share.
Following the Closing of the Transaction the board of directors of the combined company shall be comprised of 7 members (a) one of whom shall be appointed by Torchlight , subject to the approval of META and (b) one of whom shall be jointly agreed to by META and Torchlight . META shall appoint the 5 remaining members of the Board, which members must include the required number of independent members to maintain the NASDAQ listing requirement.
META’s CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. Torchlight’s management is to remain in an advisory role focused on winding down the Torchlight legacy business and maximizing the value obtained from the divestiture of the Torchlight oil and gas assets.
Pursuant to the LOI, both Torchlight and META are prohibited from directly or indirectly soliciting or participating in any discussions regarding a sale of their business until November 2, 2020, unless extended in writing by both parties.
Entry into a transaction will be subject to satisfactory completion of due diligence by both parties, negotiation of a Definitive Agreement and audits of Torchlight and META. If a Definitive Agreement is entered into, it is expected that the closing of a transaction will include customary closing conditions, including NASDAQ and CSE approval and approval by the shareholders of both companies, in addition to the closing conditions described above. There can be no assurances that a transaction will be consummated as a result of the LOI.
Torchlight has engaged Roth Capital Partners as financial advisor in connection with the transaction. META has engaged Hamilton Clark as financial advisor on its behalf. Additional details will be announced if and when a Definitive Agreement is reached.
I'm here. watching
Dang C-Bond has some decent physical security products.
Look at the glass ballistic film product for windows.
https://cbondsystems.com/c-bond-ii/
Looking good here. Nobody knows about this one yet?
It's aweful quiet/
Now is time to buy.... no risk of dilution
What deal? Can you expand on this comment?
Momentum....
A lot of opportunity here in ECEZ..
ECEZ - Product now being sold in big box stores all over the country. Walmart, Target, Homedepot, Lowes, Amazon & Whole Foods? This is what historically made penny runners!
ECEZ - $.0006
Market Cap - $1,511,559 * There is room for a big run here!
O/S - 3,778,898,591
SEGI - $.028
Market Cap - $59,407,608
O/S - 1,957,417,066
WDLF - $.0054
Market Cap - $20,496,201
O/S - 3,795,592,958
TSNP - $.2933
Market Cap - $839,309,052
O/S - 3,996,709,773
Nice! I added today too. Now I’m sitting with just slightly more at 20 million
A lot of opportunity here in ECEZ..
ECEZ - Product now being sold in big box stores all over the country. Walmart, Target, Homedepot, Lowes, Amazon & Whole Foods? This is what historically made penny runners!
ECEZ - $.0006
Market Cap - $1,511,559 * There is room for a big run here!
O/S - 3,778,898,591
SEGI - $.028
Market Cap - $59,407,608
O/S - 1,957,417,066
WDLF - $.0054
Market Cap - $20,496,201
O/S - 3,795,592,958
TSNP - $.2933
Market Cap - $839,309,052
O/S - 3,996,709,773
This has all the makings of a typical OTC/Pink runner.... Company with a product available in all the big box stores.....
That has been a major driving force for these types of plays for years.
Come on Man!
Soon we'll be looking for $1 Million in dollar volume for the day... That's when it will begin to get nutty here.
Agreed... 200 Mill in an hour and a half is pretty good.
Looking forward to it
I’m up to 10 million at the moment and I’m bid sitting for a few more
My fingers are crossed
Thanks for the message on this. I bought 9m at .0005.
Let’s see what she can do..
I may try to bid for a few more.
This was a nice PR from August.
https://www.globenewswire.com/news-release/2020/08/13/2077856/0/en/The-Monaco-International-Film-Festival-Appoints-Edward-Sylvan-of-Sycamore-Entertainment-Group-As-its-New-President.html
HOLLYWOOD, Calif., Aug. 13, 2020 (GLOBE NEWSWIRE) -- Sycamore Entertainment Group Inc. (SEGI) is pleased to announce the appointment of Mr. Edward Sylvan, as President of the Monaco International Film Festival (MIFF).
The Monaco International Film Festival and Sycamore Entertainment Group Inc. have partnered to further enhance the digital profile of one of the most prestigious festivals on the circuit at a time when independent distributors build revenue streams by partnering with movie theatres and Film Festivals launch their own independent digital platforms.
Now in its 18th year, The MIFF is considered the Crown Jewel of the international Film Festival circuit and attracts the top film makers, celebrities, investors, industry leaders, and politicians from around the globe. The Angel Film Awards produced by the MIFF is an exclusive event that brings together the filmmaking industry, artists, and visionaries, to the wealthiest country in the world.
Festivals Co creators Rosana Golden and Dean Bentley are quoted as saying “During these challenging times we continue to look towards the future and embrace any opportunities that will grow the MIFF and The Angel Film Awards. We are confident that working with Mr. Edward Sylvan and Sycamore will bring our beloved festival to the next level.”
As President, Mr. Sylvan will seek to uplift the profile of the festival globally to attract international films, filmmakers and talent that further speaks to the festival’s new diverse voice.
"I am honored to be appointed as President of the MIFF,” Says Edward Sylvan. He goes on to say “The festivals mandate is what I have stood for my entire life and serves as a platform to promote films of equality, diversity and other complex subject matter using nonviolent storytelling. It takes an extremely high level of filmmaking talent and creativity to tell stories this way. I am excited to join this wonderful team and be a part of taking the MIFF to new heights."
Utilizing its film marketing expertise, paired with the MIFF reputation for attracting commercially viable films, Sycamore's plan is to acquire select MIFF titles and distribute the films both domestically and internationally.
The annual event is scheduled to be held February 25th to 28th 2021, in Monte-Carlo, Monaco. Organizers are taking every conceivable precaution to ensure a safe and successful event.
Follow Sycamore: Twitter: Sycamorefilms, www.sycamoreentertainment.com
Info@sycamoreentertainment.com
About Sycamore Entertainment Group. (SEGI):
Is a diversified entertainment company specializing in the acquisition, marketing, and worldwide distribution of quality finished feature-length motion pictures. Sycamores’ management team utilizes its long-standing relationships to provide market specific publicity, promotion, media buying, theatrical placement and Print and & Advertising financing for theatrical domestic release.
The Monaco International Film Festival:
celebrates peace, love and the art of making movies and a unique collaboration of multi-talented writers, filmmakers, producers and musicians. The Angel Film Awards mission is to entertain, inform, inspire, encourage and educate. We honor artists, address complex social issues, and strengthen ties between international audiences. An inspiring & intimate platform in Monte Carlo developing tools and forging new alliances within the international film and entertainment industry.
Yep that little girl is 12 yrs old and in the 6th grade now.
Yes this SEGI momentum is definitely a blessing... I still have some challenges I'm dealing with. But I'm hoping to get those straightened out soon... keeping my fingers crossed.
Thanks Wadi... Been a long time coming.
Per tweet
Amazon Fire TV beta testing starting today. Film delivery arriving. $SEGI
— Sycamore Entertainment Group Inc (@sycamorefilms) December 3, 2020
Haha nice
Nice more content is coming...
$SEGI is now live on @Roku we can now start the process of taking delivery of our films to start the upload process. Please add the channel to your Roku. pic.twitter.com/xAkOmsLo86
— Sycamore Entertainment Group Inc (@sycamorefilms) December 1, 2020
You still in this CAYO?
locations all over the world.
https://www.youtube.com/user/OfficialModusLink/videos