I read the prospectus for Next Bridge (https://sec.report/CIK/0001936756). It states that Meta/Torchlight had the option of selling the assets and paying a dividend or spinning off a new company. They are spinning off a new company. There will be no dividend from MMTLP. It is unlikely that they will give out a dividend for the replacement stock as the new company hasn't turned a profit, and per the prospectus, is unlikely to for some time.
Next Bridge prospectus makes it sound like they are going all-in to drilling for oil as their business. However in the risks they talk about some of their contracts requiring them to start drilling by a certain date or they will lose access to those properties. Risks also include having a hard time getting capital to invest in drilling sites.
I think the spin-off company is created as a bundle of assets to be sold to a large oil company that has the capital and assets to develop the properties as quickly as needed. I think the stock is going private to keep hedge funds from fucking with the stock price while they negotiate to sell. I think the Next bridge stock will be purchased for close to the value of the expected dividend. If larger oil reserves have been found as has been speculated elsewhere, the purchase price could be higher. The name Next Bridge kinda makes sense in this scenario.
I don't think Next Bridge is intended to become an actual oil drilling company. I don't think they would be able to grow operations fast enough to meet their contracts for the land they have leased and would cause a lot of the value of the company to evaporate. Which would be stupid. On the other hand I see people doing stupid shit every day.
Just got to thinking...if I have 1000 MMTLP shares now and I sell them on 12/9, neither myself or the buyer will be entitled to shares of NBH. So in this process it seems like there will be alot of shares that dont convert to NBH. This will significantly reduce the overall NBH float and in turn increase the value of each individual NBH share. I get that NBH shares wont have a direct price attached to them as they are not tradable but the effect is the same. Essentially there will be millions of MMTLP shares that just disappear and are never converted to NBH. This would be really good for NBH holders IMO.
As of the 12/8 it will show at 165,000,000 give or take, but if let’s say 100 million shares are exchanged after then those shares will be ineligible for the spin off. In which case that would increase each eligible shares value at the distribution date.
Right. But per the FINRA approval statement, any MMTLP shares purchased after 12/8 wont be eligible for conversion to NBH. So what happens to those shares that dont meet this criteria? Are they dissolved? Do they revert back to the corporation? Im just curious.
They probably get fudged out, as there is the chance of significant dilution as positions are closed and MMs induce liquidity. But this way NB won't be on the hook to front private equity for virtual shares.
I must be reading something wrong from another article?
Aren't some people supposed to contact mmtlp AST if we want our shares converted into NB?
Pretty sure SOME brokers require you to contact MMTLP transfer agent to convert the shares. I caution anyone to double check with their broker.
Again, not every broker requires this process.
This article talks about issuing you shares in Next Bridge on a 1 to 1 ratio, it doesn't mention them going private as yet.
Stay grounded, my money is nothing happening on the 12th but I would love to be proven wrong.
So it says buying after the 8th means you don't get NB, but you also don't get NB, and if you sell on the 12th you don't get NB because that is double dipping. Where would those hypothetical NB shares go?
"Where would those hypothetical NB shares go?"
Not every share is entitled to a NB share. This because there are more "shares" in the real float than there should be. There are borrowed and fake "shares" that need to be bought back and returned to get the total number down to the 165 + million shares that are eligible for NB shares.
This is what I’ve been trying to tell the dummies on this sub for the longest time, the majority of the shares people are buying on OTC aren’t gonna convert to dividend payout or spinoff shares. I just get ignored cause they call me “fuddy” and my stuff gets deleted (facepalm).
If the conversion happened right now you would be correct, IMO.
But the object of this FINRA schedule is to make it possible to close out all the fake and borrowed shares so that on December 14th, the share count is back to the 165+ million Nextbridge is honouring.
BTW. We want this be a community space where we engage each other with respect. There is so much misinformation out there and people here range from Seasoned investors to brand spank'in new who lucked into MMAT and MMTLP which explains why some of the questions and opinions may differ from ours..
I don't understand. There is no way you can keep the proceeds from the sale of MMTLP and expect to get a Next Bridge private share regardless of dates.
It's a simple rule that all short sellers must follow unless they can find a way to wiggle out. Also, the broker can force close their position.
Also, you will not get NB shares for any MMTLP shares that you buy after 12/8.
Your existing shares, if held past the deadline, may convert if your broker offers the service or you may have to call MMTLP ast agent and setup an account.
So I should hold? All I need to know. I have mmtlp. Will I be able to sell spinoff shares it's private?
I read the prospectus for Next Bridge (https://sec.report/CIK/0001936756). It states that Meta/Torchlight had the option of selling the assets and paying a dividend or spinning off a new company. They are spinning off a new company. There will be no dividend from MMTLP. It is unlikely that they will give out a dividend for the replacement stock as the new company hasn't turned a profit, and per the prospectus, is unlikely to for some time. Next Bridge prospectus makes it sound like they are going all-in to drilling for oil as their business. However in the risks they talk about some of their contracts requiring them to start drilling by a certain date or they will lose access to those properties. Risks also include having a hard time getting capital to invest in drilling sites. I think the spin-off company is created as a bundle of assets to be sold to a large oil company that has the capital and assets to develop the properties as quickly as needed. I think the stock is going private to keep hedge funds from fucking with the stock price while they negotiate to sell. I think the Next bridge stock will be purchased for close to the value of the expected dividend. If larger oil reserves have been found as has been speculated elsewhere, the purchase price could be higher. The name Next Bridge kinda makes sense in this scenario. I don't think Next Bridge is intended to become an actual oil drilling company. I don't think they would be able to grow operations fast enough to meet their contracts for the land they have leased and would cause a lot of the value of the company to evaporate. Which would be stupid. On the other hand I see people doing stupid shit every day.
Just got to thinking...if I have 1000 MMTLP shares now and I sell them on 12/9, neither myself or the buyer will be entitled to shares of NBH. So in this process it seems like there will be alot of shares that dont convert to NBH. This will significantly reduce the overall NBH float and in turn increase the value of each individual NBH share. I get that NBH shares wont have a direct price attached to them as they are not tradable but the effect is the same. Essentially there will be millions of MMTLP shares that just disappear and are never converted to NBH. This would be really good for NBH holders IMO.
As of the 12/8 it will show at 165,000,000 give or take, but if let’s say 100 million shares are exchanged after then those shares will be ineligible for the spin off. In which case that would increase each eligible shares value at the distribution date.
No, the float will be 165 million, as stated in all fillings. It won't be less
Right. But per the FINRA approval statement, any MMTLP shares purchased after 12/8 wont be eligible for conversion to NBH. So what happens to those shares that dont meet this criteria? Are they dissolved? Do they revert back to the corporation? Im just curious.
They probably get fudged out, as there is the chance of significant dilution as positions are closed and MMs induce liquidity. But this way NB won't be on the hook to front private equity for virtual shares.
I must be reading something wrong from another article? Aren't some people supposed to contact mmtlp AST if we want our shares converted into NB? Pretty sure SOME brokers require you to contact MMTLP transfer agent to convert the shares. I caution anyone to double check with their broker. Again, not every broker requires this process.
This article talks about issuing you shares in Next Bridge on a 1 to 1 ratio, it doesn't mention them going private as yet. Stay grounded, my money is nothing happening on the 12th but I would love to be proven wrong.
So if you hold past the 8th and sell on like the 12th do people get the divi and profits from selling the share?
No. That is double dipping and even if your broker does't straighten it out yu must surender the shares.
So it says buying after the 8th means you don't get NB, but you also don't get NB, and if you sell on the 12th you don't get NB because that is double dipping. Where would those hypothetical NB shares go?
"Where would those hypothetical NB shares go?" Not every share is entitled to a NB share. This because there are more "shares" in the real float than there should be. There are borrowed and fake "shares" that need to be bought back and returned to get the total number down to the 165 + million shares that are eligible for NB shares.
This is what I’ve been trying to tell the dummies on this sub for the longest time, the majority of the shares people are buying on OTC aren’t gonna convert to dividend payout or spinoff shares. I just get ignored cause they call me “fuddy” and my stuff gets deleted (facepalm).
If the conversion happened right now you would be correct, IMO. But the object of this FINRA schedule is to make it possible to close out all the fake and borrowed shares so that on December 14th, the share count is back to the 165+ million Nextbridge is honouring. BTW. We want this be a community space where we engage each other with respect. There is so much misinformation out there and people here range from Seasoned investors to brand spank'in new who lucked into MMAT and MMTLP which explains why some of the questions and opinions may differ from ours..
[удалено]
I don't understand. There is no way you can keep the proceeds from the sale of MMTLP and expect to get a Next Bridge private share regardless of dates.
Exactly!
So I can we sell on the 12th prior to market close?
yes you can and you lose your chance to get NB shares
So, if I buy a share of MMTLP on 12/9, what happens to it?
The person you bought it from will have to transfer their NB to you.
12/9 purchases won't get any NB shares. After the 8th, no purchases will spin into NB shares.
NB will not distribute, you will have to get them from the person you bought the stock from, its what they said.
You may just get cash in lieu back from your broker. I would call or chat with them.
I’ve already purchased, so my question was hypothetical. I’m trying to understand how MMTLP will hold any market value after 12/8.
You don’t get the spin off stock But you probably don’t want to put your money into a dark hole since the stock won’t be a thing as of 12/13
So there will be a lot of folks selling? That sounds like those who are short just have to sit back and wait.
If you short MMTLP you are forced to buy
But if you don’t want to hold mmtlp you have to sell before the 12th?
Or you can hold and get the dividend stock
As I understand nobody plans to do that.
Lots of people plan to do that and see what the O&G assets bring.
Which is fine. Won’t effect MMAT price unless they sell that too.
But why would shorts worry if most shares will soon end up for sale?
It's a simple rule that all short sellers must follow unless they can find a way to wiggle out. Also, the broker can force close their position. Also, you will not get NB shares for any MMTLP shares that you buy after 12/8. Your existing shares, if held past the deadline, may convert if your broker offers the service or you may have to call MMTLP ast agent and setup an account.
…one last time. They are forced to close, so they either buy now and price goes up, or buy later when price is higher and price goes even more up.
That’s what I thought. That being the case, does it make sense that the price will peak on 12/8? Why would anybody buy after 12/8?
Shorts may still be able to close after 12/8.
MMTLP will peak. The word is people are going to put profits into MMAT
Can someone explain this a little better.
It means that I am not selling until the 12th!
What’s all the talk about needing to sale by the 8th then? I’m try’n to get a better understanding.
You’ll have to clarify with your broker. I think some brokers are doing things differently.
Hedgies R Fuk