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) 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.
Meta Materials Inc. (NASDAQ:MMAT) announced the issuance of a new U.S. patent related to lithium batteries, expanding its innovative materials aimed at enhancing battery safety and efficiency. The new patent (US Pat. No. 11,605,862), issued on March 14, 2023, focuses on batteries utilizing nanoporous ceramic separators. The company now holds 501 active patents, with 315 issued. META will showcase its technology at the International Battery Seminar from March 20-23, 2023. This development aligns with rising demand for safer and more sustainable battery technologies amidst the transition to electric vehicles.
Meta Materials Inc. (MMAT) will announce its Q4 and FY 2022 financial results on March 16, 2023, after market close. A webcast is scheduled for March 17, 2023, at 8:00 AM EDT. The company is known for developing sustainable and high-performance functional materials across various applications, including consumer electronics and aerospace. Meta Materials has been recognized as a Lux Research Innovator of the Year in 2021. The press release emphasizes the importance of meeting Nasdaq listing requirements and mentions potential risks associated with their forward-looking statements, which could impact business strategies and operations.
Meta Materials Inc. (NASDAQ:MMAT) announced its NANOWEB® technology will be featured in the Project Arrow exhibition at CES 2023, highlighting its role in the largest commercial vehicle collaboration in Canadian automotive history. NANOWEB® promises innovative automotive applications including efficient deicing, defogging, and transparent antennas. With the automotive EV market projected to grow at a 22% CAGR through 2030, the company aims to deliver sustainable, high-performance materials tailored for the automotive sector.
Meta Materials Inc. (NASDAQ: MMAT) announced its participation at CES 2023, showcasing partnerships in 5G communications, augmented reality, and Li-ion battery components. Collaborations with companies like Sekisui Chemical aim to enhance network coverage using the award-winning NANOWEB® 5G Reflector. The company is also developing AR technologies through its ARfusion® platform and working with DuPont Teijin Films on innovative battery solutions. META's IP portfolio is close to 500 patents, reflecting its growth and prominence in high-performance materials.
Meta Materials Inc. (NASDAQ:MMAT) has joined the United Nations Global Compact initiative, reinforcing its commitment to responsible business practices. This initiative encompasses ten principles related to human rights, labor, environment, and anti-corruption, uniting over 15,000 companies globally. CEO George Palikaras stated that sustainability is core to their operations, highlighting efforts in workforce retention, ethical conduct, and sustainable materials. The news aligns with the company's goal to enhance its corporate sustainability efforts.
Meta Materials Inc. (NASDAQ:MMAT) announced its participation at CES 2023, showcasing NANOWEB® Transparent EMI Shielding Film, awarded as a CES 2023 Innovation Awards Honoree. The film provides visibility while shielding against radiation, applicable in microwave ovens and other technologies. META is scaling production capabilities for 5G reflector films in 2023 and developing innovative battery materials to enhance performance and safety in electric vehicles. The company emphasizes its growth strategy and market opportunities, particularly in the electric vehicle sector.
Meta Materials Inc. (NASDAQ:MMAT) announced the successful distribution of common stock of Next Bridge Hydrocarbons, Inc. to holders of Series A Preferred Stock. Each holder of record as of December 12, 2022, will receive one share of Next Bridge for each Series A Preferred share. This move is part of a planned spin-off and aligns with META's strategy to enhance shareholder value through its innovative technology and materials development. For more details, refer to the official prospectus.
Meta Materials Inc. (NASDAQ:MMAT) announced that FINRA revised its notice regarding the exchange of META's Series A Preferred shares (OTC:MMTLP) for shares in Next Bridge Hydrocarbons, Inc. Shareholders with settled MMTLP positions by December 12, 2022, will receive one share of Next Bridge for each MMTLP share held. Purchases made after December 8, 2022, are excluded from this distribution. The MMTLP symbol will be deleted on December 13, 2022. This update supersedes all prior disclosures concerning the MMTLP trading and distribution logistics.
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