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 that FINRA has processed the exchange of its Series A Preferred shares (MMTLP) for common stock of Next Bridge Hydrocarbons, Inc. Shareholders with settled positions by 12/12/22 will receive one share of Next Bridge for each MMTLP share held as of the Pay Date on 12/14/22. Purchases of MMTLP after 12/8/22 will not qualify for the distribution. The announcement supersedes all previous disclosures regarding MMTLP trading logistics. Shareholders should contact their brokers for assistance regarding ownership or trading of MMTLP shares.
Meta Materials Inc. (NASDAQ:MMAT) held its annual shareholder meeting on December 5, 2022. All seven director nominees were elected, including John R. Harding and George Palikaras, receiving over 99% approval. KPMG LLP was appointed as the auditor for the fiscal year ending December 31, 2022, with 99.5% of votes in favor. Additionally, the compensation of named executive officers was approved, with 96.2% support. This meeting reflects strong shareholder confidence in the current leadership and strategic direction of the company.
Meta Materials Inc. (NASDAQ:MMAT) announced the distribution of all common stock in its subsidiary, Next Bridge Hydrocarbons, Inc., to holders of META's Series A Preferred Stock. This spin-off, set for completion on December 14, 2022, will convert Next Bridge into an independent public company, although its stock won't be publicly traded. Series A Preferred holders as of December 12, 2022 will receive one share of Next Bridge stock for each Series A share held. The distribution is subject to final FINRA approval and other conditions.
Meta Materials Inc. (NASDAQ:MMAT) has officially opened its new global headquarters and Centre of Excellence in Dartmouth, Nova Scotia. This 68,000 square foot facility, featuring twelve semiconductor-quality cleanrooms, is the largest of its kind in Atlantic Canada. The centre will focus on advanced manufacturing, nanotechnology, and metamaterials, driving innovations in augmented reality and automotive displays. The opening signifies a pivotal moment for META, enhancing its leadership in sustainable advanced materials and expanding its partnerships with major brands.
Meta Materials Inc. (NASDAQ:MMAT) has been recognized as a CES 2023 Innovation Awards Honoree for its NANOWEB® Transparent EMI Shielding Film. This honor comes ahead of CES 2023, set for January 5-8 in Las Vegas, where the company will showcase its innovative product. The NANOWEB® film, which offers superior transparency and shielding compared to traditional materials, is applied in consumer electronics and is the first of its kind used in microwave ovens. This recognition highlights META's commitment to innovative product solutions addressing industry challenges.
Meta Materials Inc. (NASDAQ: MMAT) has been recognized as one of Canada's top clean innovators in Deloitte's Technology Fast 50 program, winning a Clean Technology award. CEO George Palikaras attributes the company's triple-digit growth to its advanced nanomaterials aimed at addressing a market projected to reach $10.7 billion by 2030 in sectors like 5G and autonomous vehicles. The award highlights META's commitment to sustainability through energy-efficient products that reduce environmental impact.
Meta Materials Inc. (NASDAQ:MMAT) is set to celebrate the grand opening of its new Global Headquarters and Centre of Excellence on November 17, 2022, in Dartmouth, Nova Scotia. This 68,000 square foot facility aims to showcase META's advanced technologies addressing critical challenges in various sectors including aerospace, automotive, and healthcare. Key executives, including President and CEO George Palikaras, will lead demonstrations and ribbon-cutting ceremonies, highlighting META's commitment to innovation and sustainability.
Meta Materials reported significant growth in Q3 FY 2022, with total revenue soaring 329% year-over-year, reaching $2,456,012, compared to $572,612 in Q3 FY 2021. For the first nine months, revenue increased 388% to $8,754,434. However, the company faced a net loss of $24,475,320 in Q3, widening from $11,425,248 in the previous year, with a nine-month loss of $63,892,619. Cash and equivalents stood at approximately $32.2 million as of September 30, 2022. The company maintains no debt, aside from minor loans from ACOA.
Meta Materials Inc. (NASDAQ:MMAT) will participate in the Q4 Investor Summit on November 15, 2022, at 11:30 AM EST. Rob Stone, Vice President Corporate Development and Communications, will lead the event via webcast, which is open to qualified investors. Registration is complimentary, and one-on-one meetings are available. Meta Materials specializes in high-performance smart materials and has received recognition, including the 2021 Lux Research Innovator of the Year. More information can be found on their website.
Meta Materials Inc. (NASDAQ:MMAT) has signed a Memorandum of Understanding with DuPont Teijin Films and Mitsubishi Electric Europe to enhance Li-Ion battery technology through its PLASMAfusion technology. This partnership aims to develop a high-volume, roll-to-roll manufacturing system for coated copper current collectors, improving battery efficiency, safety, and reducing costs. META expects this innovation will significantly decrease copper use in batteries, essential for the growing electric vehicle market, which may face a copper supply shortfall by 2035.
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