🔥 Brief MMTLP Summary 🔥
What is
#MMTLP?
MMTLP was a non-trading dividend placeholder for oil and gas assets issued by Meta Materials
$MMAT after its merger with Torchlight Energy Resources
$TRCH in June 2021. Two market makers then used falsified and outdated information to list this Series-A Preferred stock on OTC Markets as
$MMTLP. It then began trading in October 2021 without the consent of issuer, Meta Materials, a NASDAQ listed company. The SEC and FINRA refused to halt trading despite requests from both Meta Materials CEO, George
@Palikaras, and former Torchlight Energy CEO,
@JohnBrda.
The U3 Trading Halt:
FINRA issued a Corporate Action Notice for MMTLP on 12/8/22 leading investors to believe they had through 12/12/22 to exit their positions prior to being locked into a private company. Early the next morning, FINRA issued a rare U3-Halt citing "settlement issues." Unfortunately, despite those settlement concern due to it being massively oversold, FINRA failed to halt the share exchange scheduled for 12/14/22 of MMTLP for private Next Bridge Hydrocarbons. Both long and short positions were frozen making the 1-for-1 exchange, as called for in the SEC-approved Corporate Action, impossible. This left 65,000+ families including countless veterans trapped in limbo for nearly 4 YEARS; money gone, assets frozen, while the CRIMINALS who sold the IOUs never had to deliver costly shares. FINRA knowingly violated their Congressional mandate “to protect America's investors by making sure the broker-dealer industry operates fairly and honestly.”
MMAT/MMTLP inherited TRCH Short Positions:
Many believe MMTLP has close to a BILLION hidden naked short shares, most inherited from pre-merger Torchlight Energy Resources which traded on NASDAQ as
$TRCH. During the height of the COVID pandemic, the worldwide economy ground to a halt, and crude oil briefly dropped below ZERO dollars per barrel. At that time, oil stocks were heavily shorted. During its reverse merger with Metamaterials in June 2021, massive open short positions in TRCH were never closed. It is believed those illegal naked shorts, aka counterfeit shares, still exist in both MMAT and MMTLP/NBH. That is, during the merger when holders of *real* MMAT shares received their Series-A Preferred dividend shares, holders of *counterfeit* MMAT shares likely received counterfeit MMTLP.
MMTLP hit FINRA’s FRAUD Radar:
Sam.Draddy@finra.org sent an email to [redacted]
@SEC.gov regarding “fraud/manipulation” on 12/5/22 stating, "looks like this MMAT/MMTLP matter has now hit my FRAUD Team's radar screen (and seemingly a lot of other radar screens as well) ... bluesheeting both MMAT and MMTLP as we speak."
This excerpt is directly from one of the FOIA’d emails. Oddly, after detecting FRAUD and pulling the blue sheets, regulators allowed trading to continue for THREE FULL DAYS before being halted early morning Dec 9th.
Short Positions should NOT exist in a PRIVATE Company!
Brokers had informed clients that any NEW BUY orders on the LAST 2 TRADING DAYS of Dec 9th & 12th would be CANCELED and all open SHORT POSITIONS MUST BE CLOSED. This is important because borrowed and shorted shares MUST BE RETURNED in order for rightful owners of MMTLP to receive their 1:1 dividend shares of private Next Bridge Hydrocarbons prior to cancelation/deletion of MMTLP on Dec 13th. This would've required buying shorted shares back on the open market likely causing a dramatic increase in the share price… a short squeeze.
Inexplicably, on the final days of trading the share price nosedived from $9.90 to $2.90 at the very time it should've skyrocketed due to closure of short positions. Many suspected those shorting MMTLP were tipped off to the upcoming halt. FINRA denied it. We later learned that FINRA's Uniform Practice Code committee (UPC), aka the U3-Halt panel, was made up entirely of representatives of financial institutions with MMTLP liabilities, along with FINRA VPs, Patricia Casimates and Chris Stone. Another in a string of FINRA lies.
FINRA Blew Off a Meeting with the DTCC & MMAT after Unapproved CA Changes:
On 12/8/22, three days after pulling the blue sheets, and just two days after the prior CA notice, FINRA issued a revised Corporate Action Notice with changes NOT APPROVED by the company. These changes included removal of the dividend pay date of 12/14/22 and "MMTLP shares will be CANCELED" became "Symbol:MMTLP will be DELETED." These CA Notices led investors including myself to believe we could BUY shares on 12/8/22 and SELL on 12/12/22 before being locked into a private company. FINRA blew off an Emergency Meeting called on 12/8/22 by the DTCC, along with MMAT attorneys, to rebuke these changes. FINRA failed to show up and answer questions or to explain. I wonder WHY? A Corporate Action is a Material Event that affects shareholders, such as a stock split. FINRA’s job is to advise, approve, and then publish CA Notices. Needless to say, they SHOULD NOT be drafting and releasing a CA without the company’s involvement.
Motherlode of Counterfeit Shares:
It is suspected MMTLP has a share imbalance between 2-to-10x over the legally issued 165.5M shares. FINRA pulled and analyzed the blue sheet trade data on 12/5/22, so they had a good idea of the share count and any overage needing to be reconciled when they issued their revised CA Notice on 12/8/22. Some speculate FINRA saw the sky-high limit-sell orders on the morning of the 9th, some over $4,000 per share, and panicked by issuing an ultra-rare U3 Halt to buy time until a resolution could be determined. After nearly 4 YEARS, we are still waiting for that resolution. Many retail investors did their due diligence and saw this as the opportunity of a lifetime. We sunk our savings into
$MMTLP and
$MMAT. Since the halt, our shares of MMTLP/NBH have been stuck in limbo, and issuer Meta Materials is going through bankruptcy. After reviewing the Share Intel data, prominent attorney James Wes Christian who specializes in stock market fraud and securities litigation, was flabbergasted and called MMTLP/MMAT the "MOTHERLODE of counterfeit shares."
A Share Count is MANDATORY:
FINRA, along with The SEC who oversees them, have ignored multiple letters from Congress demanding answers to this fiasco along with an AUDITED CONSOLIDATED SHARE COUNT for MMTLP which is the FIRST STEP towards a resolution. Without the share count, damages cannot be ascertained because the level of dilution is not known. Some believe it's best to let the courts handle it. However, there are TWO problems with this... FINRA has SRO IMMUNITY and has successfully fought each and every attempt to get the share count or Blue Sheet trade data. Second, we must be able to show DAMAGES to the court which cannot be determined without the SHARE COUNT. That’s the catch-22 since FINRA cites immunity to avoid discovery of that share count. The ONLY WAY for us to move forward towards a resolution is for President Trump to sign the MMTLP Transparency Letter sitting on his desk, or for Congress to force the SEC to turn over the SHARE COUNT and BLUE SHEET trade data.
Why is SEC & FINRA Stonewalling Congress?
Then Senator JD Vance along with 74 U.S. Congressmen have signed letters to the SEC and FINRA demanding answers and a share count. They refused. Congress shrugged and said, well, we tried.
If we're wrong and there's no problem, WHY NOT release the share count for MMTLP, a defunct ticker that hasn't traded in 45 months? For any other stock, an accurate accounting is virtually impossible due to the dynamic nature of the stock market and delayed reporting. MMTLP is unique; it has been halted, all trade data frozen in time, thus allowing for an ACCURATE SHARE COUNT, and would likely confirm massive STOCK MARKET FRAUD. If so, the regulators would appear as either incompetent or complicit. Thus, you can see their reluctance to play ball with Congress. A subpoena or executive order will likely be necessary.
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Recent Developments:
December 2025:
@AnnVandersteel began digging into the MMTLP scandal and posted on X, "The evidence definitely points to conspiracy to defraud investors by financial agencies and brokers who are regulated by those agencies."
January 2026: Ann Vandersteel held a press conference at the SEC building in D.C. with breaking news of FOIA'd emails containing hard evidence of improper SEC/FINRA/FIF-broker collusion to impede NBH's S-1 for subscription rights that would've required moving shares to the transfer agent. Brokers objected due to delivery concerns over FTDs. Yes, FIF-member brokers flat-out admitted in writing they couldn't deliver real shares to the transfer agent! As a result, NBH was forced to withdraw this S-1.
Also in January, General Mike Flynn began banging the drum about Counterfeit Shares as a National Security Threat.
May 2026: After nearly 3.5 years, the SEC finally signed off on Next Bridge Hydrocarbons' S-1 for a 40M share offering. This was likely the longest S-1 approval process in stock market history. Unfortunately, brokers with known imbalances have refused to purchase shares to cover FTDs, and the SEC has done nothing to enforce their own rules governing share settlement.
June 2026: Next Bridge Hydrocarbons announced a special 1-for-30 stock dividend to be distributed on July 22nd.
July 2026: Next Bridge Hydrocarbons PR detailing SIX failed attempts to meet with SEC officials:
"Next Bridge has, for a sixth time, requested to meet with senior officials of the Securities and Exchange Commission (the "SEC") to discuss the unresolved dilemma of the MMTLP trading halt in 2022 and the subsequent imbalance it created in our shareholder ledger which remains to this day. We are extremely disappointed to share with our investors that for a sixth time, our invitation has been ignored."
late-July 2026: Next Bridge released share registration data from all brokers and declared all dividend shares were successfully distributed to brokers. Unfortunately, as of September 2026, many brokers still have not delivered these shares to clients. This is a clear violation of SEC Rule 15c3-3.
August 2026: Another NBH PR with TWO additional attempts to meet with regulators:
CEO Greg McCabe stated: “I am deeply troubled that our system continues to turn a blind eye to an issue affecting tens of thousands of investors. My message remains exactly as it was on day one: I am here to help. We are asking for nothing more than a seat at the table, an honest examination of the facts, and a path toward resolution that is fair to all parties.”
September 2026: Bloomberg Terminal screenshots surfaced showing "USD 11.849 MMM; MMAT 0 PERP" for ISIN: US59134N2036. This infers either 4 BILLION shares of MMTLP at $2.90 or a post-halt valuation of $71.59 for the legally issued 165.5M shares.
Earlier this year, an MMTLP Transparency Letter was delivered to the White House and made it past legal review and was ready for President Trump's signature but then stalled (busy year). In August, veteran advocate
@BeardVet announced he personally redelivered this letter directly to Trump's chief-of-staff
@SusieWiles47. Reportedly, once signed, the SEC is ordered to conduct a forensic audit of MMTLP trading including a full share count. The MMTLP Army respectfully asks those with White House connections to focus on applying pressure here. Thank You!
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Fantastic MMTLP - REVOLUTION video ⬇️
piped.video/y0hRrefAoG4?si=0g75…
MMTLP Resources for Investors and Journalists:
mmtlpresources.com
MMTLP Timeline:
justpaste.it/d4gik
MMTLP NBH Lets Talk About Oil: (Value of Assets)
NOTE: After being held a decade, Next Bridge lost these Orogrande oil leases due to tortious interference. (Case pending) Nevertheless, this is why many of us invested in MMTLP.
piped.video/gqYLqrfYbQs?si=slgF…