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. has appointed George Francis as the new Chief Information Officer to enhance its IT architecture and cybersecurity. With over 25 years of experience in various industries, Francis will oversee the integration of advanced IT systems to meet global regulatory requirements. His role will also focus on monetizing data generated by META's products. COO Ken Rice emphasized the importance of robust IT systems for operational effectiveness and regulatory compliance.
Meta Materials Inc. (NASDAQ: MMAT) will present at NobleCon18, held from April 19-21, 2022, at the Hard Rock Hotel & Casino in Hollywood, Florida. The company's presentation is scheduled for April 21, 2022, at 1 PM EDT in Seminole Ballroom D. Breakout sessions will occur on April 20 and 21 at 11:30 AM. A webcast of the presentation will be available the following day and archived for 90 days. Meta is recognized for its innovative materials across various sectors, enhancing product offerings for leading global brands. For more details, visit www.metamaterial.com.
Meta Materials Inc. (NASDAQ:MMAT) has announced a new organizational structure aimed at enhancing innovation and growth. Central to this is the appointment of Dr. John Yiannis Antoniades as Executive Vice President, Head of Engineering and EO/IR Systems. With over 35 years of experience, Dr. Antoniades will lead the effort to drive product engineering and expand META's technology portfolio. The company also plans to open a new facility in Maryland to support its growth strategy in sectors like smart cities and 5G applications.
Meta Materials (NASDAQ:MMAT) has secured an additional $2.2 million in purchase orders through its subsidiary, Nanotech Security Corp, under a development contract with a confidential central bank. This brings the total awarded purchase orders for fiscal year 2022 to $9.2 million, up from approximately $7 million. The orders include $1 million for development services and $1.2 million for sample products, highlighting the company's progress in developing secure nano-optic authentication features for future banknotes.
Meta Materials Inc. (NASDAQ:MMAT) has acquired Plasma App Ltd. for $20 million in a stock for stock transaction. The acquisition aims to leverage PLASMAfusion™ technology, enhancing manufacturing capabilities in producing NANOWEB® and KolourOptik® films. PLASMAfusion™ promises to accelerate production, reduce costs, and expand applications, including battery materials. Executives express optimism about improved operational efficiency and market expansion, solidifying their commitment to sustainable technology.
Meta Materials Inc. (NASDAQ:MMAT) has announced the upcoming spinout of its oil and gas assets into a newly formed subsidiary, OilCo Holdings, Inc., exclusively for its Series A preferred stockholders. Following an audit initiated on March 21, 2022, holders of Series A preferred shares will exchange them for common shares in OilCo. The Company incurred $14.2 million in costs in 2021 for drilling activities. The spinout aims to ensure the intrinsic value of these assets is preserved. The timeline for completion remains contingent upon necessary legal approvals and financing.
Meta Materials Inc. (NASDAQ:MMAT) has announced its participation in two investor conferences in March 2022. The company will present at the Investor Summit Conference on March 9, and at the 34th Annual Roth Conference from March 13-15, 2022. Attendance is by invitation only, and registration is mandatory. Meta Materials specializes in advanced materials for various sectors, including consumer electronics and clean energy, and was recognized as a Lux Research Innovator of the Year in 2021.
Meta Materials Inc. (NASDAQ:MMAT) reported significant growth in its fourth quarter and FY 2021 results. Total revenue surged by 264% to $4.08 million in 2021, driven largely by the acquisition of Nanotech Security Corp. Q4 revenue reached $2.29 million, up from $273,324 in Q4 2020. However, the company faced a net loss of $91 million for the year, including a $40.54 million non-cash loss on financial instruments. Cash equivalents stood at $50.3 million as of December 31, 2021, with no debt apart from $3.2 million in interest-free loans.
Meta Materials Inc. (NASDAQ: MMAT) announced the schedule for its Q4 and FY 2021 financial results, set for March 1, 2022, after market close. A webcast will follow on March 2, 2022, at 11:00 AM EST. The company is enhancing shareholder engagement by partnering with Say Technologies to allow shareholders to submit and upvote questions for management during the webcast. This platform opens on February 23, 2022, at 11:00 AM EST and closes 24 hours before the event. META's technology platform supports various industries including 5G, health, aerospace, and clean energy.
Meta Materials Inc. (NASDAQ:MMAT) has announced the preview of its new technology, KolourOptik Stripe, at The Banknote & Currency Conference 2022, taking place from February 21-24, 2022, in Washington, D.C. The new product aims to enhance banknote security with innovative nanostructure features, offering more colors, movement, and 3D depth. KolourOptik Stripe is designed to combat currency counterfeiting and will build on previous plasmonic products like M2 and KolourDepth. META's Nanotech team will engage with industry leaders and stakeholders at the conference.
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