Replies to post #4604 on Meta Materials Inc (MMATQ)

[janice shell]

Meta Materials has proposed a settlement to the SEC:

The Company recently made an offer of settlement to the Staff of the SEC's Division of Enforcement (the "Proposed SEC Settlement") to resolve the matter as to the Company. The Proposed SEC Settlement is subject to approval by the SEC Commissioners. The Company cannot predict whether or when the Proposed SEC Settlement will be approved. If the Commissioners approve the Proposed SEC Settlement, the Commission will enter a cease-and-desist order (the "Order") in connection with certain antifraud, reporting, books and records, and internal accounting control provisions of the securities laws. Under the terms of the Proposed SEC Settlement, the Company would neither admit nor deny the findings in the Order. If approved, in connection with the Proposed SEC Settlement, the Company will pay a civil money penalty in an amount of $1 million in four (4) installments over the period of one (1) year pursuant to an agreed upon payment plan.

https://feeds.issuerdirect.com/news-release.html?newsid=6395722731037140

It seems unlikely that Brda and Palikaras, who received Wells notices along with the company, are off the hook. They'll have to negotiate their own settlements, it seems.