• Next Bridge Debt Purchase by Chairman

    For months at a time we went without any word at all from Next Bridge regarding the company or our investment. Looks like things have changed, and we like it.

    With Greg McCabe in charge it looks like Next Bridge Hydrocarbons is going to be much more transparent to shareholders.

    Since he took over we already have an announcement of a new subscription share dividend option and now we get a press release regarding some monetary issues surrounding Next Bridge’s debt.

    What does this all mean? We see it as bullish that Greg McCabe is so determined and positive about Next Bridge’s future that he has purchased the debt from Meta Materials.

    This debt purchase now releases Meta Materials (MMAT) from pretty much all obligations with Next Bridge and the companies are now officially separate.

    Those naysayers that kept bashing this investment always used the excuse that Next Bridge has no money and will default on their debt, or go bankrupt. Well, now that the debt has been purchased by McCabe, the Chairmen of the Board of Directors and largest shareholder, we think there are now many options for Next Bridge moving forward. We could see note extensions or even forgiveness of some debt which will keep Next Bridge discovering more oil and natural gas which is what we want.

    CEO Clifton DuBose weighed in: “We are pleased to have our Chairman and largest stockholder assume all of the material indebtedness for Next Bridge.  This is a great development for our company and further enhances our capacity and flexibility to source capital in the future that will continue to strengthen near-term opportunities and the long-term outlook for our Company and shareholders.”

    With the appointment of McCabe to his new position, we love what Next Bridge has been doing lately. The agreement involves both cash and stock purchases for McCabe.