Welcome to our dedicated page for Meta Materials news (Ticker: MMAT), a resource for investors and traders seeking the latest updates and insights on Meta Materials stock.
Meta Materials Inc. (NASDAQ: MMAT) is a forward-thinking advanced materials and nanotechnology company focused on creating sustainable, highly functional materials that transform the way we interact with light and other forms of energy.
META's proprietary portfolio includes products such as NANOWEB, a transparent conductive film, holoOPTIX, ARfusion, metaAIR, and glucoWISE. These innovations span various applications from consumer electronics and 5G communications to aerospace, automotive, and clean energy.
Recent Achievements: META announced a 1-for-100 reverse stock split effective January 29, 2024, aiming to comply with Nasdaq's $1.00 per share minimum closing price requirement.
Current Projects and Financial Condition: In Q4 2023, META reported a 55% revenue increase to $2.2 million compared to the previous year. The company is driving growth across four main business lines including authentication solutions, wide area motion imagery systems, and transparent conductive films, with partnerships like the one with Panasonic Industry for NANOWEB production.
Strategic Moves: Recently, the Board of Directors approved a workforce reduction of about 80% to address liquidity challenges and financing needs. The company is exploring strategic alternatives including asset divestitures and potential sale.
Legal and Regulatory Actions: META is actively pursuing legal action against parties involved in alleged market manipulation, supported by findings from Christian Attar and Warshaw Burstein law firms.
META's commitment to innovative sustainable science continues to drive advancements in everyday technologies, making them smarter and more efficient.
Meta Materials Inc. (NASDAQ:MMAT) reported a strong second quarter of 2021, with total revenue surging 197% to $624,320, compared to $210,344 in Q2 2020. For the first half of 2021, revenue increased by 88% to $1,220,623. However, the company faced a net loss of $5,181,392 for Q2 and $49,339,912 for H1, which included a significant non-cash loss of $40,540,091. As of June 30, 2021, cash and cash equivalents stood at $154,634,423.
HALIFAX, NS / ACCESSWIRE / August 11, 2021 / Meta Materials Inc. (NASDAQ:MMAT) announced its Q2 2021 results are expected to be reported after market close on August 12, 2021. This report marks the company's first quarterly results since its NASDAQ listing. Chief Financial Officer Ken Rice indicated that they plan to file the Form 10-Q with the SEC ahead of the deadline of August 16. Meta Materials specializes in high-performance materials across various industries, such as consumer electronics and aerospace. For more details, visit www.metamaterial.com.
Meta Materials Inc. (NASDAQ: MMAT) has signed an agreement to acquire Nanotech Security Corp. (TSXV: NTS, OTCQX: NTSFF) for approximately C$90.8 million in cash at C$1.25 per share. This strategic acquisition is expected to enhance Meta's manufacturing capabilities, reduce production costs, and accelerate commercialization in various sectors, including 5G and solar energy. The transaction is set to close in early October 2021, pending regulatory approvals. Both companies aim to leverage their combined technologies for growth in the security features market.
Meta Materials Inc. (NASDAQ:MMAT) announced the appointment of Dr. Hai Sun as the new Director of Lithography Manufacturing and Operations. Dr. Sun brings over 20 years of experience in nanofabrication engineering, previously working at HRL Laboratories and Western Digital. His role will focus on advancing lithography processes for various products. Dr. Sun holds a Ph.D. in chemistry and holds 39 patents related to nanofabrication. This strategic hire aims to enhance META's capabilities in addressing high-growth applications.
Meta Materials Inc. (NASDAQ:MMAT) has appointed Darren Ihmels as Vice President of Business Development, focusing on ophthalmic applications. With over 30 years of experience, Ihmels aims to drive the growth of ARfusion™ technology, which integrates smart technology into prescription eyewear. CEO George Palikaras emphasized the importance of merging comfort with technology for a successful augmented reality business. Ihmels' previous roles include leadership positions at Google and FYidoctors, highlighting his expertise in smart glasses and manufacturing.
Meta Materials Inc. (NASDAQ:MMAT) has joined the Stanford University SystemX Alliance, enhancing its capacity for collaborative research. This membership allows META to sponsor basic research, connect with students for recruitment, and participate in seminars and workshops. Over six years, META has offered 70 internships and is recognized as a top employer at Dalhousie University. The company continues to prioritize STEM initiatives and has a $1.29M Mitacs Accelerate program, indicating a strong commitment to talent development and scientific research.
Meta Materials Inc. (NASDAQ: MMAT) will present at the Access to Giving Virtual Investor Conference from July 13-15, 2021. The presentation is scheduled for July 15 at 2 PM EDT, featuring George Palikaras, President and CEO, and Ken Rice, CFO. The conference aims to educate investors, showcasing over 50 companies and facilitating 1x1 meetings for charity. The presentation will be webcast live and available for replay. Interested parties can request more information via email.
Meta Materials Inc. (NASDAQ:MMAT) announced the completion of a 27-month project to develop a non-invasive glucose sensing prototype, supported by approximately £911K (US$1.25M) from Innovate UK. This Home Hub system combines multiwavelength biosensing technology with machine learning to improve glucose level accuracy for diabetes patients. The project involved collaborations with four partners and led to multiple prototypes demonstrating significant accuracy enhancements. Two patent applications were also filed in 2021, expanding the company's intellectual property in this field.
Meta Materials Inc. (NASDAQ:MMAT) announced a webcast scheduled for July 6, 2021, at 1 PM EDT to discuss recent developments and future growth initiatives. The company specializes in high-performance materials for various sectors, including consumer electronics and clean energy. They highlight their recognition as a Global Cleantech 100 company and their commitment to sustainable innovation. Forward-looking statements are included, cautioning about uncertainties affecting business performance.
Meta Materials Inc. (NASDAQ: MMAT) announced that CEO George Palikaras has filed an Early Warning Report following the completion of a business combination. This transaction resulted in Palikaras acquiring beneficial ownership of approximately 11.4% of the company's shares on a partially diluted basis, equating to 32,433,347 shares. Prior to this, he held no securities in the company. The report provides details on the securities acquired, including exchangeable shares, options, warrants, and deferred share units.
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