If anyone wants to copy the following text I submitted for the SEC Portal complaint, feel free to do so:
I am a shareholder of Next Bridge Hydrocarbons, Inc. (“NBH”) and a former holder of Meta Materials Series A Preferred Stock, which traded under the symbol MMTLP.
I am submitting this complaint/request for investigation because questions concerning the reconciliation of MMTLP positions following FINRA’s December 9, 2022 U3 Trading Halt remain unresolved more than three and a half years later.
FINRA halted trading in MMTLP on December 9, 2022, before the final two anticipated trading days preceding the distribution of NBH shares. My broker at the time, TD Ameritrade, had communicated that existing MMTLP shareholders would be permitted to close their positions on December 9 and December 12 on a “close only” basis. New Buy to Open orders were subject to review and cancellation. Because of the U3 Halt, I was unable to close my long position as anticipated.
My MMTLP position subsequently became a position in privately held Next Bridge Hydrocarbons. I currently hold a six-figure number of NBH shares and have no practical public market in which to sell them.
Of particular concern, Next Bridge Hydrocarbons Chairman and CEO, Mr. Greg McCabe, has publicly stated that the company has evidence concerning what NBH believes are unauthorized or otherwise unreconciled Next Bridge share positions associated with U.S. broker-dealers. Mr. McCabe has repeatedly sought engagement with regulators and, according to NBH, most recently contacted SEC officials on August 7, 2026 seeking an opportunity to present the company’s evidence and cooperate toward a resolution.
On August 25, 2026, Next Bridge publicly discussed these regulatory outreach efforts and the continuing share reconciliation issue.
I am NOT asking the SEC to accept NBH’s allegations as established fact. I am asking the Division of Enforcement to examine the evidence the company says it possesses and determine whether broker-dealer books and records can establish the actual number and disposition of Next Bridge share entitlements resulting from MMTLP positions.
Specifically, I respectfully request that the SEC determine whether the relevant broker-dealer, clearing, transfer-agent, CAT, DTC/NSCC and other records can reconcile:
1. the number of legitimate MMTLP positions entitled to receive Next Bridge shares;
2. the number of Next Bridge shares actually issued and registered;
3. the number of Next Bridge shares actually held in custody or transferred to satisfy customer entitlements;
4. any remaining broker-dealer customer entitlements represented by internal positions, receivables, fails, contra-party obligations or other bookkeeping entries rather than delivered/registered shares;
5. the identities of any broker-dealers, clearing firms or counterparties responsible for unresolved obligations; and
6. whether any unresolved positions resulted from short sales, failures to deliver, stock-loan activity, corporate-action processing, or other activity requiring regulatory action or reconciliation.
These questions should be capable of being answered through records maintained by regulated entities. If all MMTLP-derived Next Bridge shareholder entitlements have been properly reconciled, an examination of those records should establish that fact. If they have not been reconciled, those same records should help identify the size and source of any discrepancy and the responsible counterparties.
I respectfully request that SEC Enforcement meet directly with Mr. McCabe and appropriate representatives of NBH, receive and evaluate the evidence they are offering to provide, and determine whether further investigation, compulsory process, or other regulatory action is warranted.
This matter has had a substantial personal financial impact on me and my family. I relied upon my broker’s communications concerning my ability to close my position during the final trading days, but FINRA’s U3 Halt eliminated that opportunity. More than three and a half years later, I continue to hold these shares without a public trading market and without a clear explanation as to whether all resulting broker-dealer obligations have been reconciled.
I respectfully ask the Commission not to allow another year to pass without examining the evidence being offered by the issuer. If the evidence establishes a discrepancy, please pursue it. If the records establish that no unresolved discrepancy exists, shareholders deserve to know that as well.
I am submitting this information through the SEC TCR system specifically so that a formal record of this request for investigation exists.
$MMTLP
🚨NEW ACTION🚨: NBH has been trying to get a meeting with FINRA and the SEC, but they've ignored him. So... I say we help him out! Even if they refuse, I think the fact that he tried will eventually come into play. Let's get a nice pile of calm, shareholder letters out, and place more emphasis on the PR.
I can promise you, public outcry as to why 2 regulators wouldn't be willing to meet with an issuer is going to be helpful for whatever NBH does next. So... lets send these 2 emails, and fill out a simple form to support our Chairman.
BE SHORT, BE POLITE, INCLUDE YOUR STORY. IF YOU'RE A VETERAN, THROW THAT RIGHT IN THE SUBJECT LINE!
1. To Email Robert Colby:
To: [email protected]
Subject: Can be anything you like. "Simple Request" "Shareholders Need Help" "Please Take The Meeting". Whatever you want. Just be polite
Here's a quick template:
Dear Mr. Colby,
I am a Next Bridge Hydrocarbons shareholder. I am writing to ask you to take the phone call Greg McCabe requested via email on August 14.
On December 9, 2022, FINRA halted MMTLP two trading days before the planned spin-off. Brokers told clients we could close our positions through December 12. We could not. Those shares became Next Bridge shares that do not trade. That was more than three and a half years ago. It is still not over.
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(If you want to mention your broker communications that told you that you would be able to close your position on the 9th and 12th (eg. "any new buy to open (BTO) orders would be routed for review and cancelled" / "Trading will move to close position only", that could be highlighted as well.)
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***Here is where you include your story. Your broker. Your shares. What you cannot do. What this cost you. Quick and easy.***
Mr. McCabe has asked you time and time again for a conversation, sir. You have corresponded with this company before. You know the file. Please hear the evidence the company says it has of unauthorized Next Bridge shares created by firms under your supervision, and offer what FINRA will or will not do to assist the company in resolving this issue.
Please accept the invitation. Speak with him. If a path exists, take it. If it does not, say so. Either is better than another year of unanswered letters.
Sincerely,
Full Name
Next Bridge shareholder
City, State
Edit how you like. But please, just send ONE email, and include your name. No threats. No 20-page attachments.
2. EMAIL Mr. Woodcock AND THE SEC via the official log. This is two steps, and I recommend that we do both.
A. TCR portal (this is the one that counts because it will get logged, and they CAN'T ignore this): https://t.co/qrxfH9KB70
Get through the fields, and keep it simple and polite. You are a shareholder. Represent yourself properly.
Matter: MMTLP / Next Bridge Hydrocarbons.
ATTN: David Woodcock, Director, Division of Enforcement.
Paste NBH's Aug 25 PR link at the top. Then simply paste what I wrote below (which will also be emailed).
Save the confirmation number.
B. Send this via email
To: [email protected]
CC: [email protected], [email protected], [email protected], [email protected]
Dear Mr. Woodcock and SEC Staff:
I am a Next Bridge shareholder. Our Chairman, Greg McCabe has written your offices numerous times (most recently August 7th, 2026) asking to present evidence of unauthorized Next Bridge shares created by U.S. broker-dealers, and offer the company's cooperation in resolving this issue. To date, this request has not been responded to.
[2–3 sentences of your story.]
I ask you with utmost respects, please take this meeting, sir. If a path exists to resolve this with the company, take it. If it does not, say so. Either is better than another year of unanswered letters.
I am also filing this through the TCR portal to ensure that a record of this request exists.
Sincerely,
Full Name
Next Bridge Shareholder
City, State
3. Rules
Write it yourself. We have the same ask, but we have different lives. Identical mass paste gets filtered.
Stay civil. McCabe asked for a conversation civilly. Do the same.
Do this one time. Then stop.
That is the whole plan. Simple. A seat at the table to provide an honest look at the facts, and hopefully, a path that is fair us.
Let's help our Chairman, and make sure they hear us.
Almost 1 year ago, @ElfCarbon made the increcible post below.
Upon thorough investigation, the @markets Bloomberg terminal screenshots show the face number is 11,849,153,000 units (M)
The "M" abbreviation on a Corp preferred DES screen is Bloomberg's standard "thousands" abbreviator (from the Roman-numeral mille), NOT the sovereign fixed-income "millions" $ convention.
Read that way, the Reopenings History row on the #MMTLP Preferred is asserting an issued/reopened amount on the order of 11.85 BILLION preferred shares, with Announce and Effective dates 12 December 2022, the day of the CUSIP deletion and the day before final cash settlement.
The publicly known MMTLP outstanding as of the September 2021 spinoff was ~165 million preferred shares.
If a Bloomberg terminal is showing a Reopenings row of 11.85 billion shares dated 12 December 2022 on the same preferred, that is NOT a rounding artefact and it is not a sovereign auction... it is either:
(a) a Bloomberg terminal data error on a security that was in the middle of its most contested corporate action of the decade, or
(b) a real reopening/issuance event on a preferred that was formally represented to the market as having been extinguished at the S1 record date.
Both readings are worth chasing. only one of them is a smoking gun, and neither is the message we have all been fed (since 2023) to believe in any FAQ...
One cannot help but wonder if OTC Markets & FINRA COLLUDED in the beginning of December 2022 to MISLEAD Retail Investors into a false sense of security in order to PROTECT Broker-Dealers & Hedge Funds and HARM the very investors they swore to protect.
Enter Jeff Mendl...in an unprecedented interview regarding a ticker symbol, MMTLP (a Series A Preferred Share), that was never authorized to trade, and blatantly provides FALSE testimony to the viewers.
Additionally, he stated that MMTLP would be "DELETED after the trading day on the 12th." Very interesting, because the CORPORATE ACTION explicitly stated MMTLP would be CANCELLED, not DELETED, upon conclusion of trading. Did he have foreknowledge of the 2nd Corporate Action that was already drafted (unlawfully revised by FINRA) and mistakenly let the cat out of the bag during the interview?
What's your opinion?
Hello Mr. Payne (@cvpayne),
The $MMTLP community is no longer standing by regarding the promises from @HesterPeirce to send our complaints into the @SECGov nor the famous words from Chairman Paul Atkins (@SECPaulSAtkins), “we'll see," concerning the MMTLP financial regulatory cover-up.
We have taken our voices to the White House (@WhiteHouse), as you can read in the quoted post below 👇
Please have @annvandersteel on your show as soon as you are available. She has verified not only that the White House knows about our situation, but also the existence of a letter that was submitted and is currently awaiting @POTUS signature.
Good on ya David .@DavidPollackUSA for shining a light on the MMTLP case.
Some 65,000 small investors were betrayed by FINRA and the SEC, which ignore "naked" short selling of shares that don't exist.
.@elonmusk's @SpaceX and .@realDonaldTrump's @truthsocial may be victims of this evil practice, as well. Wake up, gentlemen.
I don’t know stocks... I know people..
Two nights ago Chelle held a Space that broke this down..and then veterans and everyday holders told the truth out loud.
Trading halted. Private shares they can’t sell. Years of being told to wait.If you’ve never heard of MMTLP, don’t scroll past.
Listen to them. 🇺🇲
#MMTLP
$MMTLP #MMTLP
1/5 This is total obfuscation and a deliberate misrepresentation of the facts.
Bringing up investigations into former CEOs is a distraction. It does not explain what happened to MMTLP shareholders or justify the lack of accountability.