• Unsponsored ADR’s Suggest Fraudulent Listing For MMTLP

    A new video from community member qntainmnt teaches us about ADR’s and how potential illegal activity is suggested from their action.

    This video contains great due diligence into the world of ADR’s or “American Depositary Receipts”, a topic most of us probably know little to nothing about.

    These ADR’s allow US investors to invest in non-US companies and gives non US companies easier access to the US capital markets. Sounds pretty legal. Well, so far it is. But there’s a couple keywords here that are important, and those are “non US companies”.

    How did MMTLP get listed for trading in the first place? It never was supposed to trade. A recent lawsuit by  Steamroller v. OTC Markets is addressing this very issue but it seems ADR’s might have played a role.

    According to qntainmnt’s information in the video….

    “…an unsponsored ADR can be issued without the involvement, participation, or consent of the foreign company”.


    Hey! That sounds familiar. Is this how MMTLP was allowed to trade? But HOLD UP a minute! Meta Materials was a Canadian company originally but as of October 7, 2021 it became a US company. So was an ADR issued for a US company? The guidelines in his documentation clearly show that unsponsored ADR’s are to be used for foreign companies.

    Furthermore, the video shows how the documentation that MMTLP was listed as an unsponsored ADR as of December 31, 2021 has been wiped from the Internet.

    A lot of information about MMTLP has been scrubbed from the internet lately.

    Watch the informative 8-minute video below.

    This is very interesting information, and props go out to qntainmnt for digging up the goods on ADR’s. Whether this is really an issue or there’s some legal loophole we don’t know about is probably for attorney’s to weigh in on.

    But just the fact that the document is missing from online makes us think, yeah, there’s something to this. Pass it on!

    The now missing ADR listing is shown below.

    BusyBrands hosted a space today with one of the topics ADR’s if you’d like to dig deeper.