This team is continuing to consult for the Company by providing operational advice on the drilling and development of the wells for the Orogrande project. As of this writing, more than 12 million shares of the stock have changed hands. Ms. Oelkers has managed engineering teams at Eclipse Resources and Montage Resources, achieving cost and efficiency improvements while implementing innovative technology for substantial reserve recovery. There are 3 levels to choose from starting at just $9 per month. Biographies of each of the team members are as follows: Clifton Dubose Jr. 12 Years Experience. He has successfully managed and led operations teams for Chesapeake Energy, Ascent Resources, and Montage Resources. The total value of the companys oil and gas properties at the end of 2020 was $30.86 million. Lorem ipsum dolor sit amet, consectetur adipiscing elit. In this video I will address 5 BIG Questions for George as the vast majority of investors are angry and wou. All statements in this release that are not based on historical fact are 'forward looking statements.' The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Investing in our common stock involves a high degree of risk. Press question mark to learn the rest of the keyboard shortcuts. So is using them to deice and defog Lidar cameras on self-driving vehicles. The company had sold its last reserves in November. Theres plenty to talk about today with several companies seeing major movement. All rights reserved. Torchlight reported no proved reserves as of December 31. Meta Materials : ARfusion - Solving the Challenges of Fashionable, Functional AR .. Meta Materials : Joins Stanford University SystemX Alliance Affiliates Program, Meta Materials : to Present at Access to Giving Virtual Investor Conference on July 15th, Meta Materials : to Hold Corporate Update Webcast at 1 PM EDT Today. Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Friday, February 24th. The required audit, legal and compliance steps are inherently time consuming, said Greg McCabe, former Chairman of the Board of Torchlight Energy Resources, Inc. I am pleased with the progress thus far and look forward to seeing the spinout completed.. There may be opportunity down the road with the now-named MMAT stock. Lorem ipsum dolor sit amet, consectetur adipiscing elit. About Torchlight Energy Resources, Inc.Torchlight Energy Resources, Inc. (TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. Retail traders flocked into the former TRCH stock last month in the weeks leading up to the deal close. Some likely got out early enough to cut their losses. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Its biggest area of opportunity is a diabetes management product targeting a multi-billion dollar market. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 This team is able to continue providing key planning and operational assistance for the full development of the Orogrande project. Copyright To ensure that the Metamaterial Inc. shareholders owned the same approximate 75% after the reverse split, the exchange ratio was divided by 2, to 1.845 shares of Torchlight (which will be renamed Meta Materials Inc. as of Monday morning) for each share of Metamaterial Inc., to reflect the reverse split impact on total outstanding shares of Torchlight. Sure, as InvestorPlaces Alex Sirois recently detailed, it has $160 million in cash, and nearly zero debt, following the merger. META has been utilizing a team of asset managers who bring significant experience in oil and gas exploration. About Meta Materials Inc. (NASDAQ: MMAT) META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. There can be no assurance that the OilCo will be successful in securing necessary financing or that expenses incurred to date will be repaid to META. Nasdaq We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Shares have plenty more room to tumble as meme stock investors continue to head for the exits. Twitter: @TradingSecrets7Hit that notification bell and subscribe for early updates to every video so you never miss out. Sign up below to get this incredible offer! Meta Materials (NASDAQ: MMAT) does not pay a dividend. To ensure that the Metamaterial Inc. shareholders owned the same approximate 75% after the reverse split, the exchange ratio was divided by 2, to 1.845 shares of Torchlight (which will be renamed Meta Materials Inc. as of Monday morning) for each share of Metamaterial Inc., to reflect the reverse split impact on total outstanding shares of Torchlight. TORCHLIGHT ANNOUNCES PAYMENT OF A SPECIAL SERIES A PREFERRED, STOCK DIVIDEND, A 1:2 REVERSE STOCK SPLIT AND PLANNED CLOSING OF. Electro Optical & Infrared Systems (EO/IR). Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-14-things-to-know-about-red-hot-meta-materials/. Read More:Penny Stocks How to Profit Without Getting Scammed. Commencing on June 28, 2021 Torchlight's name will be changed to 'Meta Materials Inc.' and its common stock will begin trading on NASDAQ under the ticker symbol 'MMAT.'. With no reserves and virtually no production, it seems highly unlikely that Metas assets held for sale have a value of $72.8 million. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. As many as 148 million FTD shares of Meta are said to be outstanding. Investors of record on Monday, March 6th will be paid a dividend of 0.66 per share by the construction company on Friday, March 31st. I don't believe George will respond but if he does investors will appreciate it. Meta reported $72.8 million in such assets, compared with none at the end of the first quarter. Sure, as InvestorPlace's Alex Sirois recently detailed, it has $160 million . Forward-Looking StatementThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the 'safe harbor' created by those sections. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. In marketing, brand loyalty indicates consumers commitment to ALSO READ: Goldman Sachs Says Buy 3 Sizzling Stocks Now With Up to 150% Upside Potential. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. MMAT MMTLP George Palikaras CEO of MetaMaterials Inc. speaks on 5G, on Microwave Journal Q&A Panel. Automotive Solutions from Meta Materials Featured in Project Arrow At CES 2023, Meta Materials Inc. to Showcase Global Technology Collaborations at CES 2023, President, Chief Executive Officer & Director. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/after-torchlight-merger-wait-and-see-mmat-stock/. We indicated that four wells must be drilled in the Orogrande project in 2021 to enable the Company to hold the lease for sale or spinout. Meta reported second-quarter revenue of $624.32 million, of which $622.37 million was identified as development revenue. In this video I will address 5 BIG Questions for George as the vast majority of investors are angry and would like some of their concerns addressed. But a key end use may be in the health care space, and diabetes management (glucose monitors) in particular. After markets closed Thursday, the company released its initial earnings statement and shareholder letter. As InvestorPlaces Chris MacDonald wrote July 6, Meta Materials is making progress in producing a non-invasive glucose sensing system. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. Those who got in near or at its split-adjusted high of $10.88 per share? HALIFAX, NS / ACCESSWIRE / December 3, 2021 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT, FSE:MMAT) a developer of high-performance functional materials and nanocomposites, today provided an update on the special Series A Preferred Stock dividend in relationship to the oil and gas assets and the planned sale or spinout of these assets for the benefit of the Series A preferred stockholders. With only the rarest exceptions,InvestorPlacedoes not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. All rights reserved. Its operating business today isnt generating much revenue. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. Over the past month, its fallen from around $10 to less than $4 per share. 'We plan to continue our efforts related to our asset divestiture to provide a positive outcome for Preferred A Stockholders as well as entering this new chapter for the combined Company. You will get early access to the daily stock alerts and also the weekly watchlist. The necessary audit and legal work related to the asset consolidation and spinout is expected to be completed in the coming months. In the shareholder letter, founder and CEO George Palikaras said the company expects development programs to account for the majority of our revenue over the next 12 months.. For further details and to join please visit:https://www.patreon.com/TradingSecretsJoin our Million Dollar Challenge. Copyright 2023 Surperformance. But today, its still trading at inflated prices and has plenty more room to fall. PLANO, TX / ACCESSWIRE / June 25, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021. Plus 3 Stocks for March.It would be very much appreciate. The preferred shares were issued on a one-for-one basis to Torchlight shareholders of record on June 24. In conjunction with the release of Q3 and nine-month 2021 financial results on October 15, 2021, META providedan updateon the Companys oil and gas assets and operations. -, Meta Materials : Dr. Hai Sun Joins META as Director of Lithography Manufacturing and Operations, Meta Materials : Appoints Darren Ihmels as Vice President of Business Development Ophthalmics (Form 8-K). As of this writing, more than 12 million shares of the stock have changed hands. This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, plans, and the timing, for the disposition or spinout of the Company's oil and gas assets, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company . Senior Vice President This exchange ratio was planned to result in the Metamaterial Inc. shareholders owning approximately 75% of the resulting post-merger company, Meta Materials Inc, subject to financings prior to the closing of the business combination. Plus 3 Stocks for March.It would be very much appreciate: Clifton Dubose Jr. 12 Years.! 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