Meta Materials to Reschedule Q4 and FY 2022 Results and Corporate Update Webcast
Meta Materials Inc. (NASDAQ:MMAT) announced the rescheduling of its Q4 and FY 2022 results webcast originally set for March 17, 2023, to later in March. This change is needed to finalize complex accounting related to the Next Bridge Hydrocarbons share distribution completed on December 14, 2022, which involves the deconsolidation of Next Bridge's assets and liabilities. This adjustment highlights the intricacies of financial reporting associated with significant corporate transactions, emphasizing the Company's commitment to accurate financial disclosures.
- The rescheduling allows for thorough completion of complex accounting analysis, indicating a commitment to accurate reporting.
- The delay in the webcast may lead to uncertainty among investors regarding the Company's financial health.
HALIFAX, NS / ACCESSWIRE / March 16, 2023 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced that the webcast scheduled for March 17, 2023 to review fourth quarter and FY 2022 preliminary results will be rescheduled to later in March to allow META the time required to complete the complex accounting analysis required for its Form 10-K filing related to the Next Bridge Hydrocarbons, Inc. share distribution completed on December 14, 2022, and the resulting deconsolidation of the Next Bridge Hydrocarbons, Inc. assets and liabilities.
About Meta Materials Inc.
META® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, high-performance, functional materials, components and systems. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our nano-optic metamaterial technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Learn more at www.metamaterial.com.
Forward Looking Information
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, statements with respect to the timing of the completion of the Company's Form 10-K and the anticipated timing of the rescheduled webcast. Often but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. 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 Company, including judgment involved regarding the accounting of the distribution of NBH shares. More details about this risk and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2, in the Company's Form 10-Q filed with the SEC on November 9, 2022, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. 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. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.
Media Inquiries
Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com
Investor Contact
Mark Komonoski
Senior Vice President
Integrous Communications
Phone: 1-877-255-8483
Email: ir@metamaterial.com
SOURCE: Meta Materials Inc.
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FAQ
Why was the Meta Materials webcast on March 17, 2023, rescheduled?
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