Claw

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[George Palikaras @palikaras]

Now lets bring the timeline to December 2022.
At MIA, the MMTLP flight is already on the board.

The destination is clear:

NEXT BRIDGE
Passengers are checked in.
The gate is assigned.
Everyone is watching the departure board.
Then the airport announces the time and date is all set and the flight is cleared for take of.... suddenly the airport send out a second announcement... that an “extraordinary event” has occurred.

THE RUNWAY CLOSES!
U3 HALT.

And suddenly the passengers, the airline AND the pilots are all standing in the terminal asking a very simple question:

“Hang on… where did the plane go?”

That is where the analogy stops being funny...

Because when the flight does not leave as expected, the passengers do what passengers always do:

They ask the airline and they ask the airport.
So the airport explains the procedures.

Then come the FAQs.
More FAQs.

Settlement explanations.
Coding explanations.
Rule explanations.
Technical explanations.
All very detailed.
All very procedural.

But the passengers are still standing there asking the same basic question:

Where is my luggage?

And this is the part people outside #MMTLP need to understand.

For the people affected, including the airline itself, this was never just a technical market-structure debate.

It was their money. Their airline. Their positions. Their records.

Their ability to operate. Their ability to reconcile what they owned with what the system said existed.

That is why “just read the FAQ” was never going to settle it.

An FAQ can explain a procedure.
It cannot reconcile the underlying ledger after the fact.

And when the passengers and the airline keeps asking questions long enough, the airport eventually faces another problem:

People start asking not just what happened at the gate…

…but what was happening behind the walls.

[George Palikaras @palikaras]

Now lets bring the timeline to December 2022.
At MIA, the MMTLP flight is already on the board.

The destination is clear:

NEXT BRIDGE
Passengers are checked in.
The gate is assigned.
Everyone is watching the departure board.
Then the airport announces the time and date is all set and the flight is cleared for take of.... suddenly the airport send out a second announcement... that an “extraordinary event” has occurred.

THE RUNWAY CLOSES!
U3 HALT.

And suddenly the passengers, the airline AND the pilots are all standing in the terminal asking a very simple question:

“Hang on… where did the plane go?”

That is where the analogy stops being funny...

Because when the flight does not leave as expected, the passengers do what passengers always do:

They ask the airline and they ask the airport.
So the airport explains the procedures.

Then come the FAQs.
More FAQs.

Settlement explanations.
Coding explanations.
Rule explanations.
Technical explanations.
All very detailed.
All very procedural.

But the passengers are still standing there asking the same basic question:

Where is my luggage?

And this is the part people outside #MMTLP need to understand.

For the people affected, including the airline itself, this was never just a technical market-structure debate.

It was their money. Their airline. Their positions. Their records.

Their ability to operate. Their ability to reconcile what they owned with what the system said existed.

That is why “just read the FAQ” was never going to settle it.

An FAQ can explain a procedure.
It cannot reconcile the underlying ledger after the fact.

And when the passengers and the airline keeps asking questions long enough, the airport eventually faces another problem:

People start asking not just what happened at the gate…

…but what was happening behind the walls.

[George Palikaras @palikaras]

So, welcome to MIA: Market Integrity Airport.

Ethical issuers are the airlines.

They are trying to run a legitimate business, follow their flight plan, keep the aircraft safe, and get everyone to the destination.

Retail investors and company employees are the passengers.

They bought a ticket.
They went through security.
They followed the rules.

And they reasonably assumed somebody had checked whether the airport itself was... SAFE.

Simple enough?

But then... there are the professional operators who seem to know EVERY service corridor in the building.

They know which doors open.
They know which contractors to call.
They know where the cameras point.
They know the brokers...
The lawyers.
The market makers.
The research shops.
The media contacts.
The counterparties.
The lawmakers.
The other "frequent flyers" who have been using the terminal for decades.

In this analogy, the "Ansons" of the world are not the bloke trying to sneak a bottle through airport security.

They are ALREADY inside.
Comfortably seated at the airport VIP LOUNGE.

And they appear remarkably familiar with exactly how the luggage system works. That does not prove wrongdoing. But it does raise a rather obvious question:

WHO knows HOW the airport ACTUALLY works?

And who ONLY knows what is PRINTED on the boarding pass?

Because for ordinary passengers, employees and ethical airlines, the rules are visible.

The interesting part is what happens in the dark corridors no one sees... or has access to.

And apparently, for a very long time, no one thought to look downstairs or ask for a quick tour.

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[George Palikaras @palikaras]

Last night’s Space with @nbhydrocarbons CEO Greg McCabe, @annvandersteel, and @laralogan was the preview.

Friday is the full #MMTLP interview with Lara and Greg, and everyone should tune in, even if you never owned the stock (trolls are welcome too).

Because the legal filings are the part that do not need a microphone.

If even a small part of what is alleged in the #MMAT Trustee’s complaint against Citadel, Anson and Virtu (who fought tooth and nail to NOT deliver their trading data/record) and what the litigation and discovery process may now surface, holds up, then this story becomes much bigger.

And I doubt those three are the only act on the bill.

In fact, around the 47-minute mark, Lara says it directly: this is impacting an “extraordinary number” of U.S.-listed companies.

She is absolutely right to raise that point.

Because if that is true, then this is not just one shareholder grievance or one unusual market event.

That is a Pandora’s box the financial market system now has to confront.

And when you eventually add crypto, tokenization, and 24/7 markets into that mix... the scale of the problem becomes exponential.

At some point, the machinery around all of this needs a proper reckoning... not another wrist-slap dressed up as “industry self-regulation”, right?

The longer @FINRA’s “financial industry” appears to protect its paying members… ehhh, sorry... nearly said customers!🤣… while retail investors and issuers are left completely in the dark, the harder that model becomes to defend.

And no FINRA FAQ or stonewall can ever truly hide, reconcile, or settle the record after the fact.

If self-regulation means the club looks after the club while everyone outside it absorbs the consequences, that is not regulation. It is a membership organization with a badge.

Now here is the part people should appreciate.

It has taken more than four years to catalogue and map this market plumbing:

-10s of thousands of hours of research by hundreds of members of the MMTLP community.
-Record setting 1,000+ FOIA requests.
-Pro-bono lawyers.
-Media.
-Shareholders.
-Ethical staffers in DC.
And now AI tools...
All working, in one form or another, toward resolution for more than 65,000 families.

And in doing so, I am convinced it can also help educate Congress; so that future generations, entrepreneurs, investors, teachers, veterans, and the middle class more broadly, are better protected.

Listening to yesterday’s Space, I kept thinking... HOW do you explain the #MMTLP fiasco to someone who doesn’t know a CUSIP from a boarding pass?

How do you explain it to someone with no financial background?
-At a family dinner.
-At the bar with friends.
-Over coffee with colleagues.
-Or to a complete stranger.
No technical jargon. No alphabet soup. No market-structure lecture... I’ve admittedly inflicted enough of those on people already! 😎

Just a picture everyone can understand.

So I started placing all the actors we have come across over the last four or five years into one setting. Yes... including the trolls! (You know who you are🧌)

Let’s place all of them in one place:

an airport...

Welcome to MIA:
MARKET INTEGRITY AIRPORT
Where market integrity occasionally goes missing in action.

...your departure board reads:
FLIGHT: MMTLP
DESTINATION: NEXT BRIDGE
GATE: U3
STATUS: HALTED
LUGGAGE: UNRECONCILED

Next post: the airport.

[George Palikaras @palikaras]

Last night’s Space with @nbhydrocarbons CEO Greg McCabe, @annvandersteel, and @laralogan was the preview.

Friday is the full #MMTLP interview with Lara and Greg, and everyone should tune in, even if you never owned the stock (trolls are welcome too).

Because the legal filings are the part that do not need a microphone.

If even a small part of what is alleged in the #MMAT Trustee’s complaint against Citadel, Anson and Virtu (who fought tooth and nail to NOT deliver their trading data/record) and what the litigation and discovery process may now surface, holds up, then this story becomes much bigger.

And I doubt those three are the only act on the bill.

In fact, around the 47-minute mark, Lara says it directly: this is impacting an “extraordinary number” of U.S.-listed companies.

She is absolutely right to raise that point.

Because if that is true, then this is not just one shareholder grievance or one unusual market event.

That is a Pandora’s box the financial market system now has to confront.

And when you eventually add crypto, tokenization, and 24/7 markets into that mix... the scale of the problem becomes exponential.

At some point, the machinery around all of this needs a proper reckoning... not another wrist-slap dressed up as “industry self-regulation”, right?

The longer @FINRA’s “financial industry” appears to protect its paying members… ehhh, sorry... nearly said customers!🤣… while retail investors and issuers are left completely in the dark, the harder that model becomes to defend.

And no FINRA FAQ or stonewall can ever truly hide, reconcile, or settle the record after the fact.

If self-regulation means the club looks after the club while everyone outside it absorbs the consequences, that is not regulation. It is a membership organization with a badge.

Now here is the part people should appreciate.

It has taken more than four years to catalogue and map this market plumbing:

-10s of thousands of hours of research by hundreds of members of the MMTLP community.
-Record setting 1,000+ FOIA requests.
-Pro-bono lawyers.
-Media.
-Shareholders.
-Ethical staffers in DC.
And now AI tools...
All working, in one form or another, toward resolution for more than 65,000 families.

And in doing so, I am convinced it can also help educate Congress; so that future generations, entrepreneurs, investors, teachers, veterans, and the middle class more broadly, are better protected.

Listening to yesterday’s Space, I kept thinking... HOW do you explain the #MMTLP fiasco to someone who doesn’t know a CUSIP from a boarding pass?

How do you explain it to someone with no financial background?
-At a family dinner.
-At the bar with friends.
-Over coffee with colleagues.
-Or to a complete stranger.
No technical jargon. No alphabet soup. No market-structure lecture... I’ve admittedly inflicted enough of those on people already! 😎

Just a picture everyone can understand.

So I started placing all the actors we have come across over the last four or five years into one setting. Yes... including the trolls! (You know who you are🧌)

Let’s place all of them in one place:

an airport...

Welcome to MIA:
MARKET INTEGRITY AIRPORT
Where market integrity occasionally goes missing in action.

...your departure board reads:
FLIGHT: MMTLP
DESTINATION: NEXT BRIDGE
GATE: U3
STATUS: HALTED
LUGGAGE: UNRECONCILED

Next post: the airport.

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[George Palikaras @palikaras]

They need to have their FINRA license revoked. this is not their 1st, 2nd or 3rd strike...

[George Palikaras @palikaras]

They need to have their FINRA license revoked. this is not their 1st, 2nd or 3rd strike...

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[JunkSavvy @JunkSavvy]

What is the MMTLP Fiasco???...

Shareholders fight for transparency after a series of regulatory failures trapped them and froze their assets for nearly 4 years. Evidence of counterfeit shares, lack of SEC enforcement, and FOIA revelations fuel their fight in one of the biggest financial crimes in history.

If nothing is wrong, what is the share count?
MMTLP MMAT TRCH
@nbhydrocarbons

[JunkSavvy @JunkSavvy]

What is the MMTLP Fiasco???...

Shareholders fight for transparency after a series of regulatory failures trapped them and froze their assets for nearly 4 years. Evidence of counterfeit shares, lack of SEC enforcement, and FOIA revelations fuel their fight in one of the biggest financial crimes in history.

If nothing is wrong, what is the share count?
MMTLP MMAT TRCH
@nbhydrocarbons

[Claw @HoltzclawMark]

@_alee__sha_ 2

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[Greg McCabe Jr @GregMcCabeJr]

Thank you, @laralogan, @annvandersteel, @JunkSavvy, @Beardvet, @bleedblue18, and @busybrands!

What an amazing space. Don’t miss the full podcast on Friday. This is only the beginning!

[Greg McCabe Jr @GregMcCabeJr]

Thank you, @laralogan, @annvandersteel, @JunkSavvy, @Beardvet, @bleedblue18, and @busybrands!

What an amazing space. Don’t miss the full podcast on Friday. This is only the beginning!

[Claw @HoltzclawMark]

@Dollish427947 32

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[Guess Who @RedHeelzz]

Collusion so deep that most wouldn’t believe it - hedge funds, greedy Wall Street alumni, and weaponized regulatory bodies have taken the idea of a “cover up” to a whole new level.

65,000 hostages are awaiting resolution to a problem we did NOT sign up for.

They should’ve just let it trade. They shouldn’t just provided the data. They should have done their jobs.

They didn’t and now they’re going to be exposed, BIGLY.

$MMTLP $MMAT #MMTLParmy @nbhydrocarbons

[Guess Who @RedHeelzz]

Collusion so deep that most wouldn’t believe it - hedge funds, greedy Wall Street alumni, and weaponized regulatory bodies have taken the idea of a “cover up” to a whole new level.

65,000 hostages are awaiting resolution to a problem we did NOT sign up for.

They should’ve just let it trade. They shouldn’t just provided the data. They should have done their jobs.

They didn’t and now they’re going to be exposed, BIGLY.

$MMTLP $MMAT #MMTLParmy @nbhydrocarbons

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[Greg McCabe Jr @GregMcCabeJr]

Be sure to tune in!

[Greg McCabe Jr @GregMcCabeJr]

Be sure to tune in!

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[Rare DD @RareDealsHere]

If there's a resolution to the MMTLP Fiasco there's a chance I may never post about it again.

This Jon Kroeper post by @Stef_carpedm is interesting though.

He's the type of person that wasin position to know what was going on.

What other links might there be? @SECPaulSAtkins @HesterPeirce

[Rare DD @RareDealsHere]

If there's a resolution to the MMTLP Fiasco there's a chance I may never post about it again.

This Jon Kroeper post by @Stef_carpedm is interesting though.

He's the type of person that wasin position to know what was going on.

What other links might there be? @SECPaulSAtkins @HesterPeirce

[Claw @HoltzclawMark]

MMTLP, MMAT, NBH, TRCH

[Lowell ThePatriot @LowellEverly]

TOMORROW.
Lara Logan. NextBridge CEO Greg McCabe. Live.
6 PM ET.
Veterans have been locked out of MMTLP for years. The SEC stayed quiet. The letter is still on Trump’s desk.
Be in the Space.
@LaraLogan @patrickbetdavid @nbhydrocarbons @realDonaldTrump
#MMTLP