Meta Materials Inc (OTCMKTS: MMTLP ) has a huge week ahead of it as the short squeeze enters its final trading days and the massive estimated 80 to 100 million short position must now cover. The excitement over MMTLP is palpable with numbers like $60 per share or $80 per share at the height of the short squeeze being thrown around and many investors pledging not to sell MMTLP for less than $100 per share. John Brda and George Palikaras been busy on twitter while we wait for the corporate action to be processed by FINRA and sent to brokers by DTC. As the shorts̵[ads1]7; time to cover begins to run out, they continue to short and distort, borrowing another 291,000 shares on Friday alone, and launching 3 separate short attacks during the day.
While the general consensus is MMTLP short position is somewhere between 80 and 100 million shareslong-term investors such as MarketMoves and Rollerpigeons estimate the MMTLP card position to be somewhere between 200 and 250 million. These numbers may well be correct as John Brda stated in a recent conversation with Rollerpigeons, Terry Younker and other YouTubers who cover MMTLP; “It’s good, I mean I think you’re doing a great job. I think I’ve said this before, I’d say 99% of the conversations you have, you’re right on top of things. There are certain things I know, which you probably don’t know, but nothing that I know is material enough to affect what you’re doing. Just keep up the good work and keep up what you’re doing.”
MMTLP Weekend Update: MMTLP shorts continue to play short and distort loans of another 291,000 shares on Friday alone, launching 3 separate short attacks during the day and keeping the price just above $8 per share. However, MMTLP investors do not sell and as distribution the date is approaching somewhere between 80 and 100 million shorts have to cover and things are about to get wild. Expect the volume to start increasing significantly. We are currently waiting for the corporate action to be processed by FINRA and sent to brokers by DTC. We first gave a heads up on MMTLP on October 16th in this article found here when MMTLP was $4 per share. We will update on MMTLP this weekend then do Make sure you subscribe Microcapsule daily by entering your email in the box below.
Meta Materials Inc (OTCMKTS:MMTLP) is the placeholder for Next Bridge Hydrocarbons Spin off from Meta Materials. One MMTLP (Series A Preferred share) will be exchanged for one Next Bridge common share when the spinoff is completed.
Next Bridge Hydrocarbons is exclusively developing its Orogrande Basin asset, the Orogrande Project, located in the Permian Basin of West Texas. The Orogrande project has been shown to have potential for multi-stack pay zones, totaling 600 to 800 feet thick, with geological and reservoir similarities to the Midland Basin. 134,000 net acres, 3,150 potential well locations and 3.2 to 3.7 billion potential recovery (BBL)
The Permian Basin, also called the West Texas Basinis a large sedimentary basin in western Texas and southeastern New Mexico, United States, known for its rich petroleum, natural gas, and potash deposits. The Permian Basin is one of the most productive oil and gas producing regions in the world. The Basin produced a fantastic 29 billion barrels of oil since production started in 1921. But despite the rich production history, the best days may lie ahead. Thanks to new extraction techniques, oil companies have finally figured out how to unlock the oil and gas trapped in its unique geology that includes multiple stacked layers of hydrocarbon-bearing rock formations. Permian Basin operators are pushing oil and gas production to new heights. Many of the largest oil operators in the country have a long history in the Permian including Occidental Petroleum, Chevron, ExxonMobil and Apache to name a few.
I have all the details if the scam will give it to the right people for the long https://t.co/jgIxHvK3fX
— HAM (@HAMShortkiller) 1 December 2022
FINRA plays it slow. $MMTLP https://t.co/QZp2v0mItS
— HAM (@HAMShortkiller) 2 December 2022
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Today, META asked FINRA to stop $MMTLP December 14 at close (current distribution date)… OR to freeze trading on December 12 at close (current registration date). Please take the time to READ S1. NO public trading after distribution date, ie there is NO ex-dividend date.
— George Palikaras (@palikaras) 1 December 2022
Rollerpigeons stated: “John Brda stated that he is very frustrated with the FINRA approval. Nextbridge has to do it today. This does not mean 424 approval or spinoff approval; those dates are already approved by FINRA. The dates on the prospectus are approved by FINRA. So which FINRA approval do we need? There is a process to do this. You hear different things, FINRA, the corporate action notice comes from FINRA. The corporate action notice comes from DTCC. So far, the brokerages have not received any corporate action notice…No one has received this notice because the process is not complete. Once the SEC approval and the prospectus, the FINRA approval and the dates are set, it goes to the corporate action division of FINRA for approval, and FINRA processes the corporate action for the CUSIP amendment. So FINRA comes to to process the CUSIP change, the change to Nextbridge where there will be no CUSIP and the MMTLP will be canceled and you will be given shares in the private company Nex tbridge Hydrocarbons…FINRA is not notifying brokers of this change, its bureaucratic, so they post it on daily list…once posted on the daily list … DTCC sends out notices to brokers. FINRA is not going to send out a notice to brokers, the DTCC does when they see it on the daily list. So FINRA has not completed this and John Brda is frustrated… Shorts are going to take this information and they are going to distort it. there are many short positions that need to be closed. I estimate that there are between 216 and 280 million shares in MMTLP short, which are naked shorts, failed to deliver that need to close their positions. The dates are pendent ink, December 12 and December 14 are pendent ink.”
Terry Younker posted another great video on MMTLP on Friday and said, “So HAMShortkiller has about 5000 followers, many of the meta family now follow this man, so his goal is to expose naked card are sold period … John Brda tweeted: @HAMShortkiller take a look at the $mmtlp $mmat. I’d like to bring you up to speed. Fits right in with the companies you shine a light on.” John Brda later pinned the @HAMShortkiller tweet back “$mmtlp talked to him Great guy I have all the details about the scam will give it to the right people for the long.” Things are going to happen here very soon, a lot of attention is coming to MMTLP. Last night George Remains tweeted: “Today, META asked FINRA to stop $MMTLP on December 14th at the end of (current distribution date). Please take the time to READ S1. NO public trading after the distribution date. i.e there is NO ex-dividend Date.” he also tweeted: “the series ONE Preferred Stock of Meta will NOT be DTC eligible. The effective registration statement on Form S1 discloses this. Upon distribution, the Series A Pref ($MMTLP) will be cancelled. (in in accordance with Certificate of Designation Section 3(e)”
Metamaterial News tweeted on Thursday that there are “Over 150 comments on @FINRA page/post regarding MMTLP (their Twitter engagement up 500%+) Over 200 mentions of $MMTLP and @FINRA from people’s posts. Over 20 confirmed calls to FINRA regarding MMTLP We use is voice as investors now let’s see action On Saturday he retweeted:
— ShortSqueeze (@AShortSqueeze) 3 December 2022
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John Brda h John Brda continued to tweet on Saturday regarding corporate action tweeting: Friend spoke with @FINRA examiner. He was told that they are very aware of the $MMTLP issue but can deny corporate action or request a change to S1 using the rule 6490..Last bullet at the moment in 6490 readings, can be refused if: there is significant uncertainty in the settlement and clearance process for the security. Report denials for this reason since @FINRA listed $MMTLP without issuer knowledge and with fraud information. “While it seems unlikely that FINRA would approve the filing and distribution dates and then not process, Corporate Action John Brda continues to investigate tweeting later. Saturday: “Me I hear there is some confusion going on. @FINRA has not notified anyone of anything. We’re continuing to move forward and will push this through.” As we have been reporting MMTLP has already been widely compared to recent short squeezes $HKD and Overstock $OSTK which pushed from $7 to $120 per share. We will update on MMTLP as soon as anything new happens, so make sure you subscribe Microcapsule daily by entering your email in the box below.
Disclosure: we have no position in MMTLP either long or short and we have not been compensated for this article.