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To understand the magnitude of this whole situation, one must understand all variables, including you
@FINRA!
The amount of $MMTLP short interest is DIRECTLY TIED TO $TRCH (now $MMAT) common stock that was short going into the merger back in June of 2021.
@FINRA!
The amount of $MMTLP short interest is DIRECTLY TIED TO $TRCH (now $MMAT) common stock that was short going into the merger back in June of 2021.
And to preface this whole thing let's just remember one, very, VERY IMPORTANT FACT!
@nbhydrocarbons is a PRIVATE... non-trading, publicly REPORTING company.
LISTEN CLOSELY!
@nbhydrocarbons is a PRIVATE... non-trading, publicly REPORTING company.
LISTEN CLOSELY!
The pandemic caused a lot of O&G tickers to suffer tremendously, including $TRCH after Crude Oil fell off a cliff which at one point hit -$40.32 a barrel.
I'm assuming the shorts were trying to delist $TRCH to scoop up the assets for pennies.
I'm assuming the shorts were trying to delist $TRCH to scoop up the assets for pennies.
To understand the magnitude of this situation, one must understand all specific variables.
The amount of $MMTLP sold short is directly tied to the short interest of $TRCH common stock that were carried through the merger with $MMAT.
The amount of $MMTLP sold short is directly tied to the short interest of $TRCH common stock that were carried through the merger with $MMAT.
Every common stock of $TRCH short created 1:1 liability of $MMTLP (a series A preferred share dividend PLACEHOLDER that had no b/o value) with no market for the shorts to buy back their liability. They were supposed to close out into the merger.
But due to the nature of the reverse merger and the fact that $TRCH was not delisting but simply going through a corporate action to change the ticker symbol to $MMAT, short positions were technically allowed to carry through. But what about the dividend obligation? Here's how.
