Meta Materials Inc. (MMAT)
NASDAQ (CM) NASDAQ (CM) Primary Summary
Why Is Meta Materials (MMAT) Stock Down 14% Today?
Meta Materials (NASDAQ: MMAT ) stock is taking a beating on Monday after the functional materials and nanocomposites company filed for Chapter 7 bankruptcy. Meta Materials notes that it only filed for Chapter 7 bankruptcy after exhausting all strategic alternatives.
MMAT Stock Alert: Meta Materials Will Pay $1 Million to Settle Securities Violations
Meta Materials (NASDAQ: MMAT ) stock is in the spotlight after the company was charged with violating “the antifraud, reporting, internal accounting controls, and books and records provisions of the federal securities laws.” Meta has agreed to settle the charges with a $1 million fine without admitting or denying the wrongdoings.
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Meta Materials Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| NA Nizar Araji National Bank Of Canada /FI/ | 1,646.74 | $405,098.04 | $865.86 | -$404,232.18 | -99.79% |
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Meta Materials Inc. Profile
| Electronic Equipment, Instruments & Components Industry | Information Technology Sector | Jim Fusaro CEO | NASDAQ (CM) Exchange | 59134N302 CUSIP |
| CA Country | 103 Employees | - Last Dividend | 5 Feb 2024 Last Split | 8 Nov 2010 IPO Date |
Overview
Meta Materials Inc. is a pioneering company in the field of smart materials and photonics, concentrating on the development, manufacture, and sale of an array of functional materials and nanocomposites. Originating as Torchlight Energy Resources, Inc., the company underwent a rebranding process to become Meta Materials Inc. in June 2021, marking a significant transition to better reflect its mission and technological focus. Founded in 2011, with its headquarters nestled in Dartmouth, Canada, Meta Materials serves a diverse clientele, ranging from aerospace and automotive to consumer electronics, communications, and medical devices, including specialized sectors like banknote and brand security. The organization prides itself in offering innovative solutions through its nano-optic structures, contributing significantly to advancing various industries and enhancing product efficiency and security.
Products and Services
- metaAIR: A laser glare protection eyewear designed to offer safety against harmful laser exposure in environments such as aviation and military operations, where high-intensity light sources pose a significant risk to vision.
- NANOWEB: This transparent conductive film stands out for its applications in improving touchscreen functionality and enhancing electromagnetic shielding, marking a significant advancement in the consumer electronics and communications sector.
- holoOPTIX: A portfolio of holographic optical elements, holoOPTIX caters to a plethora of applications, including augmented reality (AR) systems, offering innovative solutions in image projection and manipulation.
- glucoWISE: An innovative, non-invasive glucose measurement device, glucoWISE is set to revolutionize diabetes management by providing pain-free blood sugar monitoring, showcasing Meta Materials' commitment to enhancing healthcare solutions.
- metaSURFACE: Specifically engineered to amplify the signal to noise ratio by up to 40 times for magnetic resonance imaging (MRI) scans, metaSURFACE exemplifies the application of advanced materials in improving medical diagnostic tools.
- Nano-optic Structures and Color-shifting Foils: Employed in the realm of authentication and brand protection, these products are crucial for industries requiring high-security solutions, such as banknotes and secure government documents, helping combat counterfeiting and unauthorized duplications.
- NPORE: Marking Meta Materials' venture into energy storage solutions, NPORE is a ceramic nanoporous membrane separator designed to enhance the performance and safety of lithium-ion batteries, catering to the ever-growing demand in the automotive and consumer electronics industries.
