A Press Release from Next Bridge Hydrocarbons discusses their extraordinarily long and obstructed path to getting approval for their S-1.

In their second press release of the week, Next Bridge reports they have received further feedback from the SEC on their January 2023 10-K form.

This delay causes hardship for the company’s planned public offering of 40 million shares of common stock.

The company has spent two years attempting to file an effective registration statement to secure capital, but it seems the SEC is intentionally delaying approval, potentially harming the business.

The hedge funds and brokers would love nothing more than Next Bridge to file bankruptcy, alleviating them from their open short positions left in the MMTLP stock.

Meta Materials, Inc. (the company which Torchlight Energy became to create MMTLP shares) filed for Chapter 7 bankruptcy on August 9, 2024, in the United States Bankruptcy Court for the District of Nevada not long after their CEO was improperly ousted from the company.

The SEC is now asking Next Bridge to alter its accounting practices in relation to the company’s corporate history. What’s being asked of Next Bridge appears to us as unreasonable.

Chairman and CEO Greg McCabe stated, “As in the past, Next Bridge will continue to advance our business strategies on the oil and gas front, while concurrently investigating the magnitude of our demonstrable shareholder imbalance. In light of recent events, the Company will pivot and intensify our efforts to obtain clarity on this untenable and inexcusable imbalance which remains, to this day, an unsettled injustice to our loyal shareholders.”

NEXT BRIDGE PRESS RELEASE

Some of what the SEC is asking is likely ILLEGAL, which was pointed out by community members.

We need DOGE to investigate the SEC regarding this obstruction and the full MMTLP fiasco.

You can read the full press release at this link.

As if this situation couldn’t get any worse with the financial damage it has caused, threats against Greg McCabe’s family are revealed in emails.

As reported by Guess Who on X, we have copies of emails gathered through an approved FOIA request.

A copy of the emails is available here:

These emails tell a horrific story of just how far short sellers are taking this to take down Next Bridge so they won’t be liable for their open shorts.

Isn’t this information enough for Congress to do something? For law enforcement to get involved? Just how far will these evil people go in the name of their own personal wealth?

Hopefully this being revealed will help our cause and we hope that Greg McCabe and his family continue to be safe.

The community is waiting for January 20th when Trump and more friendly MMTLP politicians are sworn in for hopefully some positive movement in our cause.

More coverage from X Market News is listed below.

On Monday, Next Bridge Hydrocarbons released an update to shareholders.

The update, in the form of a press release, gave us a few operational updates such as news on their public accounting firm change previously announced along with a mention of the famous S1 from way back in January 2023.

They said they are “actively working with the SEC to resolve their comments and update our 2023 Form 10-K so that we are in a position to update the registration statement on Form S-1.”

Their talk about the S-1 still sounds a bit convoluted, but at least there is some progress in this area.

We’re not sure actively working with the SEC is going to be very productive until Gary Gensler retires.

The full update is available here.

They also included information on the companies office location. There has been much speculation online that they had closed their corporate office, however we find out here it was just moved to Midland, Texas. And they have a free lease deal with new landlord and chief officer Greg McCabe.

They ended with a statement which once again, teases more updates. Let’s hope they follow through this time in a reasonable timeframe. We all want to know what’s going on with the company, and our investment.

Poof! The Orogrande is gone, and now they are replacing it with the Louisiana Heritage play.

Surprising everyone last week, Next Bridge Hydrocarbons announced in a press release that they were losing their lease to the Orogrande from University of Texas at the end of the year.

Just days later, they’re showing us they’re still in the game by issuing a new press release that states they signed a letter of Intent to acquire the Louisiana Heritage play.

This, of course, is good news, but probably doesn’t replace the value of the suspected oil-rich Orogrande in Western Texas.

Time will tell how this will play out.

Their full press release is available here.

In a surprising move, the board at the University of Texas does not extend the land lease for Next Bridge.

Well, this sucks. There’s really no way to positively spin this one, because the oil and gas assets in the Orogrande will be gone after December 31, 2024.

In an October 8 press release Next Bridge disclosed the information.

Community members have speculated to the reasoning behind the lost lease, but no definitive answer is known at this time. It appears Next Bridge had met all their terms of the lease so many suspect foul play by organizations trying to sabotage our investment. University Lands even tried to “terminate” their rights effective immediately, to which Next Bridge denied.

Both Ali from Trading Secrets and Houston Wade offer some perspective in their videos linked here.

The speculation will continue until we know more. Greg McCabe, CEO of Next Bridge is quoted in the press release as looking forward to letting shareholders know more in the coming weeks and months. Greg, if you’re reading this, that’s not acceptable. Please inform your shareholders in the coming days of the situation.