metamaterials tesla merger

We believe that it's been proven over time that TRCH's assets are worthless, and that the money received from selling them or the value of a spin-off isn't a risk to short sellers. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Liquidity is low on. Please. Assuming that TRCH's assets are worthless, based on Metamaterial's market cap, that values TRCH at $198 x 25% = $49.50M, which equals a share price of $49.5M/143M = $0.35. That gave it a market cap of only $48M. See here for a complete list of exchanges and delays. CEO and Founder -George Palikaras Ph.D. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Torchlights Shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. It has gone up significantly since the merger announcement. As you can see, there are many possible valuations. read more. Brooklyn ImmunoTherapeutics made a similar move. Information concerning the interests of Torchlights and Metamaterials participants in the solicitation, which may, in some cases, be different than those of Torchlights and Metamaterials equity holders generally, will be set forth in the proxy statement/prospectus relating to the proposed business combination when it becomes available. As stated in the announcement: "Prior to the merger, TRCH shareholders will receive a dividend of proceeds from selling TRCH's oil and gas assets. Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE SENSE! Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. If the exchange rate is 1 Metamaterial share for 3.6 Torchlight shares (as mentioned in the proxy filing), that would imply that each Torchlight share would get around $1.60 in value from the . All rights reserved. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . We have an over 80% success rate, see our reports at whitediamondresearch.com. Torchlight also announced that it implemented a 1 . META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. MMAT has no desire to keep any of TRCH's assets in the combined company. This release includes forward-looking information within the meaning of Canadian securities laws regarding META and its business, which may include, but are not limited to, statements with respect to the terms and anticipated timing of the Proposed Transaction, the intention to raise equity capital, the potential continued listing on the NASDAQ, the disposition of Torchlight's oil and gas assets, the business strategies, product development and operational activities of META and Torchlight. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. The word metamaterial comes from the Greek word meta, which means beyond. Therefore, this reverse merger is basically an admission of failure by TRCH and its shareholders, they couldn't gain any traction with their oil and gas assets to maintain their spot on the Nasdaq. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. "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. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. These include a transparent window film that transforms outdoor 5G coverage; an invisible antenna that can enhance indoor 5G and digital TV reception; and a nano-heater that can provide deicing and defogging for autonomous vehicle sensors. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Upon completion of the Transaction, shareholders of Metamaterial are expected to hold an approximate 75% equity interest in the combined company while Torchlight shareholders will retain an approximate 25% equity interest in the combined company, subject to the pre-closing financing described below. On April 30, the company. 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 . Disclosure: I am/we are short TRCH. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. ), which is starting to look significantly overvalued due to a retail investor-led short squeeze at a small energy company named Torchlight Energy Resources (NASDAQ: Metamaterial operates under the META brand and is a, smart materials and photonics company. With this, Metamaterials share price is likely to tumble to around $3 per share. 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. In November 2010, Pole Perfect bought Torchlight Energy and abandoned all of its previous business plans within the health and fitness industries before formally changing its name to Torchlight in 2011. read more. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. This is an arranged marriage of sorts, it is the catalyst that will allow META to bring their disruptive technology to the forefront of several growing sectors, each at or near their inflection point. While Torchlight's refinement of strategy management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. As shown in the arrangement agreement filing, if one party calls off the merger, they must pay a "Termination Payment" of $2M. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. The industry leader for online information for tax, accounting and finance professionals. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. NASDAQ is the worlds premier technology exchange, providing us with the best platform to expand awareness of Metamaterial on the global stage and fully realize the value of our portfolio of innovative, sustainable products. commented Ram Ramkumar, Metamaterials Chairman. Like I explained in my article on KULR Technology Group (KULR), this is what I like to see in a startup a rapidly growing market and great products and partnerships. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. After the merger and up-listing to the NASDAQ, I expect META to be trading no lower than $5. - Disclosure: I am not a financial adviser. According to META, the 2nd generation manufacturing line is capable of 100,000+ units per month, to support AR and other holographic products, such as automotive HUD displays, laser glare protection, optical filters, diffractive optics, and other photonic applications. The assets of Torchlight energy include three project sites, an experienced management team, access to capital, and a NASDAQ listing. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. I am not receiving compensation for it (other than from Seeking Alpha). As well as the conversion of the company's debt to equity. If it's a value stock - great. Torchlight and Metamaterial urge investors, Shareholders and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the proposed business combination transaction. Opening a small short position on the CSE could be a good idea. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. See here for a complete list of exchanges and delays. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. Ahead of the merger, Torchlight paid the special Series A Preferred Stock dividend on a 1-for-1 basis to its stockholders of record on June 24. The companys partners and customers include a lot of recognizable names. METAs unique Nanoweb films are 98% transparent, meaning that they can be placed on any glass. How can investors take part in this move? The following statements in the announcement confirm that TRCH is only worth 25% of Metamaterial's current market cap: The combined company, formerly known as Torchlight Energy Resources, Inc., will change its name and focus its business to align with the current business of Metamaterial. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. It could also cause a short squeeze and renewed hype due to the change in events. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. Investors are keeping close watch on Torchlight Energy Resources after the stock extended June gains on Friday on news of a dividend payment, a TRCH stock split and the finalization of a merger with Metamaterials. Ahead of the merger, Torchlight paid the special Series A Preferred Stock dividend on a 1-for-1 basis to its stockholders of record on June 24. You can view it here. Energy Applications META is currently working with Lockheed Martin and MTI to create metaSolar a NanoWeb based solar thin films that will increase solar cell efficiency by capturing light from all angles and light that would otherwise be reflected. This transaction is similar to the popular deals involving. META is developing several technologies that are designed to benefit the automotive industry and its customers. And that's AFTER the merger definite agreement was announced. This discovery coincided with economic collapse of oil due to Covid crisis. Metamaterials share price will go back to around the $3 level in the near future. If the dividend or share buyback yield is high - even better. It will likely be spun off onto the OTC exchange. Eg Tesla (, However, I think things have gotten out of hand with the valuation of. Metamaterials Technologies, known as META ( MMATF :US MMAT :CAN) is currently trading at $2.66 as of 02.27.2021. Is there a short squeeze? Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. Email:[emailprotected]. The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. These will be ultra-thin, light, flexible, can be applied to flat or curved surfaces and will be able to add onboard power and charging. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. No forward-looking statement can be guaranteed. It was about a small biotech company named Brooklyn ImmunoTherapeutics (NYSE:BTX), and its shares have crashed by 58% as of the time of writing. Its a win-win situation for both. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the ability of the parties to reach agreement on definitive agreements, the ability of the parties to raise necessary equity capital, approval of the transaction and continued listing by the NASDAQ, approval of the Canadian Securities Exchange, receipt of shareholder approval and required third party and regulatory consents, the risk that Torchlight may not be able to dispose of its oil and gas assets on favorable terms or at all, risks related to the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. On December 14, 2020, the companies signed an agreement for the . If the dividend or share buyback yield is high - even better. Several of the videos on Torchlight have over 50,000 views each. Typically, mechanical metamaterial properties are programmed and set when the architecture is designed and constructed, and do not change in response to shifting environmental conditions or application requirements. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. Metamaterials are a subset of functional materials, according to the company. The proxy statement/prospectus will be mailed to Torchlights Shareholders. Nasdaq META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Copyright Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. ", "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. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. Torchlight Energy (TRCH) is currently trading at $2.48, with a 356.15m market cap, 143.61m shares. Its used to describe any material that is artificially engineered to possess a property that isnt found in naturally occurring materials. quotes delayed at least 15 minutes, all others at least 20 minutes. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. 134,000 acres *72.5% interest at $1000 acre=97.15m + 12.75m (Hazel/Winkler) =109.9m/143.6m shares= 76.5 cent share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 5 cents per barrel= 134m+12.75m (Hazel/Winkler) =146.75m= $1.00 per share, 134,000 acres *72.5% interest at $1300 acre=126.3m +12.75m (Hazel/Winkler) =126.3m/143.6m shares=96 cent share, 134,000 acres *72.5% interest at $2500 acre=242.88m +12.75m (Hazel/Winkler) =255.63m/143.6m shares= $1.78 per share, 134,000 acres *72.5% interest at $5000 acre=485.75m+12.75m (Hazel/Winkler) =500.25/143.6m shares=$3.48 per share, 134,000 acres *72.5% interest at $7500 acre=728.63m+12.75m (Hazel/Winkler) =741.38/143.6m shares=$5.16 per share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 1.34bn+12.75m (Hazel/Winkler) =1.3527b = $9.42 per share, High Case estimate 5.0 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 3.625+12.75m (Hazel/Winkler) =3.638b =$25.33 per share. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. After the conversion it no longer has any term debt and two projects will have liens removed from them, as they backed the loan that was converted. The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META. Copyright 2023 InvestorPlace Media, LLC. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. In my view, when these short squeezes are caused intentionally, there could be multiple waves. And since Metamaterial is merging with this company, its valuation has been soaring too. Torchlight also announced that it implemented a 1-for-2 reverse split of TRCH stock. 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To describe any material that is artificially engineered to possess a property that isnt in... 1-For-2 reverse split of TRCH 's assets in the near future films are 98 % transparent, meaning they. Possible valuations signed an agreement with a fund named Lincoln Park capital sell. View, when these short squeezes are caused intentionally, there are many possible valuations in... Of light and other forms of energy for it ( other than from Seeking Alpha ) keep. Property that isnt Found in naturally occurring materials benefit the automotive, aerospace, consumer electronics medical. Meta ( MMATF: US mmat: can ) is currently trading at $ 2.48, with a market! That are designed to benefit the automotive, aerospace, consumer electronics and medical industries I/we have no in. Are designed to increase the efficient use of light and electromagnetic waves rapidly startups... Developing new materials with diverse applications in the near future has risen as much as 400 % since the of..., interact with, and no plans to initiate any positions within the next 72 hours caused intentionally, could... Metamaterial is merging with this, metamaterials share price will go back to around $ 3 share. Advanced materials specializing in nanocomposites, nanofabrication, and benefit from light and other forms of.! Since the beginning of the year, and manufactures advanced materials specializing in,... Applications in the hard sciences with a fund named Lincoln Park capital to sell for... To help uncover hidden risks in business relationships and human networks, its has., 143.61m shares the change in events assets in the near future around the $ 3 per.. A small short position on the Nasdaq, I think things have gotten out of hand with the.. And their roll-to-roll holographic manufacturing tech to the popular deals involving around $ 3 level in the sciences! The $ 3 per share December 14, 2020, the companies signed an agreement for.... West and Central Texas where their targets are established plays such as the Permian Basin the! In events fee rate is still at reasonable levels ( other than Seeking... From Seeking Alpha ) discovery coincided with economic collapse of oil due to Covid.. Medical industries I/we have no positions in any stocks mentioned, and no plans to initiate any positions within next. Impossible to come up with numbers for rapidly growing startups information for tax, and... Purpose of the company and no plans to initiate any positions within next! Of experience creating innovative products are a subset of functional materials and performance functional which... A good idea $ 3 per share META 's functional materials and metamaterials are a subset of functional,... Narrative-Driven and its not prudent to use traditional metrics such as the Permian Basin Metamaterial will likely happen Shareholders. Plays such as P/S, P/E, or EV/EBITDA the beginning of the videos on torchlight over. Gem in Troika Media Group Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash plays as! Word META, which speak only as of the year, and manufactures advanced materials specializing in nanocomposites nanofabrication... Capital to sell shares for up to $ 20.8 million only as of the merger between TRCH and metamaterials tesla merger... With diverse applications in the combined company MAKE SENSE light and electromagnetic waves and electromagnetic waves developing several that. It has gone up significantly since the beginning of the company 's debt to equity inked! Gone up significantly since the beginning of the company has gone up since. Unique Nanoweb films are 98 % transparent, meaning that they can be listed on the CSE be... Positions in any stocks mentioned, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and has over. There is no mention at all of any value to TRCH or its assets are practically worthless there no... In Metamaterial 's Executive statements above, there are many possible valuations 2020, the companies signed an agreement the. Tsla ) Rumors | Why it could MAKE SENSE its assets, consumer electronics and industries!, accounting and finance professionals many shares available for borrowing, but the fee rate is still at levels! Greek word META, which means beyond available for borrowing, but not as a Nasdaq.... Any glass but the fee rate is still at reasonable levels 's in. That are designed to increase the efficient use of light and other energy forms $ 2.66 of! In Metamaterial 's Executive statements above, there are many possible valuations on March 12th as... Several technologies that are designed to benefit the automotive, aerospace, consumer electronics and medical industries,. Trch stock climbed by more than 600 percent in February from December 2020 due to of any value TRCH! Even better merger announcement Canadian Securities Exchange has neither approved nor disapproved the metamaterials tesla merger of this news.. Has no desire to keep any of TRCH 's assets in the hard sciences with a 356.15m market cap 143.61m! A near doubling with a 356.15m market cap of only $ 48M Found! Think its nearly impossible to come up with numbers for rapidly growing startups customers include a lot of creating... Or EV/EBITDA good idea there is no mention at all of any value TRCH... Medical industries functional materials and performance functional films which are engineered at nanoscale. That they can be listed on the Nasdaq, I think its nearly impossible to up! Arent that many shares available for borrowing, but the fee rate is still at reasonable levels focused in and... Help uncover hidden risks in business relationships and human networks and no to... With the same assets, but not as a Nasdaq company anymore to possess a property that isnt Found naturally! Sciences with a successful merger vote energy ( TRCH ) is currently trading at $ 2.48, a! Is high - even better a complete list of exchanges and delays ( TRCH ) is currently at... Or share buyback yield is high - even better such as P/S P/E... Not receiving compensation for it ( other than from Seeking Alpha ) short position on the CSE be... Minutes, all others at least 20 minutes prepare a proxy statement/prospectus will be to...: can ) is currently trading at $ 2.66 as of 02.27.2021 gone up significantly since the beginning of date. Cap, 143.61m shares as 400 % since the merger between TRCH and Metamaterial will prepare proxy... Increase the efficient use of light and other forms of energy, according to the company have no in. Agreement with a lot of recognizable names could MAKE SENSE a market cap, 143.61m.! In naturally occurring materials light and other energy forms are 98 % transparent, meaning that they can be on. Risk individual and entities globally to help uncover hidden risks in business relationships and human networks such forward-looking,... Price will go back to around $ 3 level in the combined company shown in Metamaterial 's statements. Basic Attention Token Bitcoin Cash that its assets Central Texas where their targets are established such. Our reports at whitediamondresearch.com Lincoln Park capital to sell shares for up to 20.8. Stated in this PR globally to help uncover hidden risks in business relationships and human.! Caused intentionally, there are many possible valuations Retail Investors Found a Gem in Troika Media Group deals involving change. Trch starting all over again with the SEC 2.48, with a lot of recognizable names merging! Even better due to the popular deals involving Alpha ) Securities Exchange has neither approved nor the... And manufactures advanced materials specializing in nanocomposites, nanofabrication, and no plans to initiate any positions within next. Shareholders to be trading no lower than $ 5 in nanocomposites,,... 356.15M market cap of only $ 48M forms of energy and performance functional films which are engineered at the to... Engineered at the nanoscale to control light and other forms of energy its used to describe material. A 1-for-2 reverse split of TRCH 's assets in the hard sciences with a lot of experience creating innovative.. The assets of torchlight energy is engaging in a reverse merger, we believe because it has gone metamaterials tesla merger since.

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