Thread by @MetaGuyMarduk

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.

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.

The filing for the Series A preferred share had electronic transferability and this specific language "transferable" was a loophole for a market maker to create a listing for the pref shares via the OTC market.

There was also an adjusted options chain created prior to the merger allowing purchasers to own rights to purchase 50 shares of MMAT(TRCH) and 100 shares of the pref shares/contract. We believe this is how the first trade was made, by exercising these options.

Within 2 1/2 months of the merger, investors woke up to their placeholders now having a ticker symbol $MMTLP with a market value. It opened at $0.10 and ran to $3.00 on the first day. It then retraced back down heavily, shaking out confused and bewildered investors.

With the hopes retail would sell their dividend shares so they could cover their short positions, investors instead begun buying en masse. This further increased the liability in ways hard to quantify. The company filed an S1 in July of '22 to go private & eventually began to run

$MMTLP then made a violent move towards $7 before retracing drastically before continuing it's climb into eventually legging up another two times. This looked strikingly familiar. It reminded me of Volkswagens squeeze. It's clear the algorithm was hard at work. L: $VOW R: $MMTLP

As previously stated, $MMTLP was directly tied to the short position of $TRCH common stock, now $MMAT & as you can see it was pulled up along with the pref shares. When they dumped & halted $MMTLP, the $MMAT options players were wiped out, including myself. I realized huge loss.

The CEO of $MMAT even doubled down on what was said in the S1, as to how the spin-off was to occur via Twitter, with ample notice. The company was going private, but was to report publicly due to shareholder amount.

On Dec 6th, 2022, @FINRA finally posted the corporate action saying $MMTLP was to be canceled. On the same day, Tuesday, Jeff Mendl, VP of OTC markets was on TraderTV talking about $MMTLP with specific language saying the ticker would be 'deleted'. See corp actions below + video.

LEFT: first corp action, RIGHT: revised corporate action (post Mendl interview) screenshots courtesy of @ModyMarc, see his tweet below.

The original corporate action and even the revised one were, in the very least, opaque in nature and duplicitous, AT BEST!

It did not coincide with the SPECIFIC requests of the issuer, $MMAT @Metamaterialtec

Here is the video of Jeff Mendl on TraderTV: They both chatted it up as if it was going to trade with "LOTS OF VOLUME"...

I have a theory that Jeff Mendl knew it was going to get halted and due to his . He has ties to BOTH the MMs that were involved in the first trades made, GTS Securities and Cannacord Genuity. MASSIVE CONFLICT OF INTEREST!

If that's not enough, Jeff also surfs and golfs with some other big players. Duh... are we shocked?
Jeff is a member of STANY (seen here with Bernie Robinson of Canaccord Genuity) Rhttps://twitter.com/RareDealsHere/status/1623523968757149696?s=20

We were then halted Friday morning, the 9th right before the market open AND EVER SINCE we have been battling with our brokers, @FINRA, @SECGov, the transfer agent, the @DOJPH, ombudsman(s), to get answers. We have been left in the dark with so many questions: (see below)

What is the explanation for the "Extraordinary event"? What was the reason for the #U3halt?

What about our last two days of trading? Are we going to get them back?

If not, how are we going to settle these positions?
What now?

It only gets more unhinged as time goes on...

Feb6 CEO of OTC Markets admits short positions stuck in $MMTLP. He then tries to say the only way to resolve it is for $NBH to trade?!

1) $NBH IS PRIVATE
2) $NBH IS NOT GOING PUBLIC
3) YOU CANNOT REPLACE A SHORT PREFERRED WITH A COMMON.

SHORTS MUST CLOSE $MMTLP! SEE VIDEO BELOW

Short positions CANNOT carry into a private company! If the market operated properly, Friday December 9th, 2022 and Monday December 12th, 2022 were supposed to be two full trading days with my assumption they would flip to PCO on Monday.

They even tried backdating their D1 Code and saying that the U3 halt was lifted on the 13th immediately prior to the D1. ABSOLUTELY NOT! The HALT seen here was "CURRENT" IN FEBRUARY OF 2023.

They underestimated our ability to stay on top of their BS! 😎

And going back to well before the halt, in the month and a half leading up to it, brokers were FINALLY sending out emails to scare people to sell or transfer their shares out of their registered accounts. I told them to kick rocks, there was no record date at this point.

And I told them if they were going to try & charge me any tax, it would be 50% of WHEN IT BECAME NON QUALIFIED. THE PRICE IT OPENED AT IN OCT 2021!
I believe it opened at 10 cents! 😎

I'D LOVE TO SEE THEM TRY & TAX ME ON THIS ANYWAY... IT WAS A PLACEHOLDER... LOL

All I can say is WE KNOW what we're holding... and there was a reason they pulled the stunt on $TRCH into $MMAT / $MMTLP into $NBH as they have done. They counterfeit shorted $TRCH so much in attempt to delist it(2020) & it has backfired by magnitudes hard to quantify.

The assets are 134k acres in the Permian basin with anywhere from 2.3-5BB of oil (sweet crude), up to 8T cubic ft of liquid NG, undiscovered minerals & a MASSIVE sweet water aquifer ON SITE! HUGE VALUE! Big players wanted to delist $TRCH & scoop up the assets for pennies!

What also fueled the short interest of $TRCH was blatant hit pieces about the companies past & their current (at the time of article) value. The assets in whole were never really talked about & Torchlight was just made out to be another meme stock; a JOKE company. This is not OK.

AND TO PROVE TO YOU THAT IT INFINITE RISK EXISTS, HERE IS A SCREENSHOT OF MY BROKER "ACCEPTING" TO FILL ME FOR A SALE AT $999,999.99 PER! SHARE!