Several large shareholders have confirmed their transfers to AST.
We learned recently from Meta News that large shareholders Will Stuart, Greg McCabe and John Brda have all initiated transfer of their MMTLP shares to AST.
These MMTLP “whales” hold a significant amount of the entire share count.
Will Stuart: 17,900,000 shares
Greg McCabe: 12,862,492 shares
John Brda: 1,900,000 shares
A chart of the remaining shares gives us a good look at where we are at with the remaining shares:
It was always suggested that shareholders of MMTLP could transfer their Next Bridge shares to AST for safekeeping during the time period before the assets were being sold. In most cases, brokers have been reluctant to help shareholders transfer their shares to AST in “book entry” form in their name. Speculation was that all the spaces for shares were full due to the preponderance of counterfeit shares.
While Next Bridge was mute on this topic for months after the U3 Halt, in July Next Bridge Hydrocarbons sent out information announcing a dividend of NBH Newco to shareholders that have their shares at AST through an S-1 filing. This woud be essentially free shares to those that transfer. Since the S-1 has not yet been enacted, the deadline for share transfer has not been set yet. The premise of their PR and the bonus they are offering shareholders that transfer would seem to indicate their desire to have their shareholders in AST.
At the end of October, Next Bridge reported an estimate of the share count at AST and once again encouraged shareholders to transfer in an amended S-1.
The MMTLP Community knows that if AST is completely full and even 1 share from our community is not transferred, FINRA and the SEC are dealing with an oversold and counterfeit share disaster.
Shareholders should do their own research and due diligence to decide whether keeping their shares at their broker in street name, or transfering to AST is the best move for them. Shares at your broker or in AST still entitle you to the Next Bridge Hyrdocarbon shares. If shares are at AST by the not yet set deadline date, a bonus of NEWCO shares will also be issues.
This article should not be considered financial advice.