randy mull

[George Palikaras @palikaras]

🚨Breaking news: 🦋

@Nasdaq just LOST its Motion to Quash.

Read that again s l o w l y . . .

The Bankruptcy Court in Nevada has now ordered Nasdaq to produce extensive $MMAT/TRCH trading data under Rule 2004, including RASH and CORE data, order attributes, cancellations, replaces, executions, and related transaction records covering nearly FOUR YEARS.

The Court was NOT persuaded by the ‘undue burden’ argument, noting that producing ~15GB of spreadsheet data is not exactly impossible for… Nasdaq. (One $10 usb stick)

Even more important, the Court explicitly recognized the Trustee’s AUTHORITY to investigate whether wrongdoing occurred on behalf of the estate, including potential claims tied to stock trading activity.

Translation:
This investigation is very much ALIVE.

For months, some people mocked and undermined the Trustee’s efforts, claimed discovery would never happen, and acted like every subpoena didn’t get served initially and that it would be crushed before daylight. Instead, the wall keeps cracking.

FINRA discovery.
Now Nasdaq discovery.
And the Court explicitly referenced separate pending motions involving Citadel, Virtu, and Anson.

Interesting times ahead.

Turns out Rule 2004 is not just a decorative suggestion.

To the Trustee and legal teams, incredible respect.

It takes courage to walk into rooms filled with institutions that have virtually unlimited resources and say:

‘Produce the data’

And to the echo chambers already warming up their spin machines tonight…

You may want to read the actual order first. 🤝

Blessings to all.

[elf @ElfCarbon]

The timing of this post is awesome @palikaras

These trading totals are published on the SEC's own website. I pulled them today while trying to find rules requiring listing data to be documented and stored ( PHLX & OCC are both telling me neither of them know who listed TRCH options when that's literally their shared job, but I'll share that saga later).

The date TRCH was listed? Oh, it's the 8th row from the top cancellation total - June 18, 2021

TRCH Trades June 18, 2021
Lit Trades: 70K
Cancels: 890K

The top 7 totals for TRCH happen to be from the week before TRCH/MMAT reverse merger. Weird coincidence, right?

Top Lit/Cancel Ratio overall:

MMAT => Lit Trades: 100K
Cancels: 820K

TRCH => Lit Trades: 520K
Cancels: 3.3M

But @Metamaterialtec has to sue hedgefunds for spoofing instead of getting direct enforcement from the SEC who have the evidence of manipulation. Instead of investigating these hedgefunds for manipulating the stock during a short squeeze (with the clear evidence they have), they go after the CEOs. That seems reasonable.

[ScrewYouWallStreet @WallStreetJoke]

Hey @SECPaulSAtkins if these CORRUPT Foreign Exchanges won't SETTLE their FRAUDULENT COUNTERFEIT NAKED SHORTED STOCKS then why doesn't @SecScottBessent SANCTION those ACCOUNTS - FREEZE THE FUNDS FOR INVESTORS ⁉️⁉️⁉️ @realDonaldTrump
$MMTLP Time to get BUSY....

[CPLANT @TheTrndisuFrnd]

Sorry to inform you but from the perspective of 65,000
Plus investors and their families your actions have not helped even a tidbit. I would also like to inform you that under your guidance you have set some new records for delaying and obstruction of NEXT BRIDGE HYDROCARBONS S1. They are now on the 7th revision and have answered 13 rounds of BULLSHIT comments by your inept staff of criminals. This S1 also holds the record for the longest pending S1 in the history of the Stock Market. Congratulations on that. If you do one thing right in your tenure as the Chair of the SEC fix the MMTLP FIASCO that has been in limbo for well over 1,200 days. If you have an Honest bone in your body this should be your #1 priority!!!!! There is no reason for this much time to pass and nothing has been done to resolve this issue that was created by FINRA & the SEC. DO WHAT IS RIGHT AND YOU WILL RESTORE SOME INTEGRITY TO THE SEC!!!! #MMTLP #NEXTBRIDGEHYDROCARBONS #NBH #INTEGRITY #TRUST #INVESTORPROTECTION #CMONMAN

[ScrewYouWallStreet @WallStreetJoke]

IF THE U.S. MARKETS CANT PROTECT AMERICAN INVESTORS FROM FOREIGN EXCHANGES FROM RIPPING US OFF THEN SHUT THEM DOWN.
@realDonaldTrump @POTUS
COUNTERFEIT STOCKS COMING THROUGH DARK POOLS IS COMPLETE B.S. 💥💥
🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯🎯

[George Palikaras @palikaras]

Figure 5 — "Longer Retention, Lower Cost"

This is what the Commission's Amendment looks like when you actually do the math.

When you model the annual storage cost using existing AWS pricing (as of April 2026) for a 30 PB initial storage footprint, with an applied 50% federal enterprise volume discount (full spreadsheet model is provided links above - Exhibit D) :

- Scenario 1 (pre-Amendment, 5-year): $1,635,329 / yr
- Scenario 2 (approved 3-year Amendment): $1,765,462 / yr
- Scenario 3 (the newly proposed 7-year tiered architecture): $389,545 / yr

Read that again. The approved 3-year Amendment could be MORE expensive than the 5-year status quo it replaced.

And the 7-year alternative proposed in our submitted File No. 4-698 comment costs $1.38 million per year less than the 3-year Amendment, while preserving four extra years of evidence.

Feel free to review the provided pricing model spreadsheet and comment... but it looks like our SEC proposal, even with no discount, would lead to:
1. Longest CAT data retention.
2. Lowest CAT data cost.
3. Enhanced enforcement.

The Commission can have ALL three, however, it just made a proposal for NONE of them.

#SEC #CAT #File4698 #MarketIntegrity

[George Palikaras @palikaras]

Figure 4 — "Statutory Remedies Outlive the CAT"

The SEC has the statutory authority to recover scienter-based disgorgement for 10 years. Congress codified that in NDAA § 6501 in 2021.

The SEC just proposed to delete the evidence after 3?

Example - for conduct occurring in April 2026:
- CAT deleted: year 3 (April 2029)
- Rule 10b-5 private repose: year 5
- Criminal securities fraud SOL: year 6
- State UFTA reach-back via § 544: year 6
- NDAA § 6501 scienter disgorgement SOL: year 10

Every statutory remedy the Commission is authorized to pursue outlives the evidence it just proposed to destroy.

You cannot litigate a 10-year disgorgement claim on a 3-year tape IMO.

You are asking the Department of Justice to prosecute with the lights off.

#SEC #CAT #NDAA6501 #File4698

[George Palikaras @palikaras]

OPEN LETTER TO @SECGov INSPECTOR GENERAL

Subject: Request for Review, FOIA Processing Integrity, MMTLP-Related Requests, Outcome and Delay Disparities

Dear Inspector General,

I am writing to request that the Office of Inspector General review FOIA processing practices affecting requests related to MMTLP and the December 9, 2022 U3 trading halt.

Based on FOIA log analysis and request tracking compiled by the public and community requesters, a large proportion of MMTLP-related FOIAs experience extended delays and procedural parking states, including “Referral Request” and “On Hold,” with some requests remaining pending for more than a year and, in certain categories, with median pending times exceeding two years.

Separately, the updated SEC-wide vs MMTLP roll-up indicates a large outcome disparity, where MMTLP-tagged requests receive full or partial disclosure at a substantially lower rate than SEC-wide FOIAs, while B7 exemption outcomes are substantially more prevalent in MMTLP-tagged requests. These patterns, taken together, raise process-integrity concerns that delay can become functional denial, particularly when information is time-sensitive for oversight, bankruptcy proceedings, or public accountability.

I respectfully request an OIG review focused on:
1.Time-in-status controls: Median and maximum duration in “Referral Request,” “On Hold,” and “Perfected” statuses, and whether escalation triggers exist.
2.Bundling practices: Criteria for bundling, notice to requesters, opt-out availability, and measurable impact of bundling on timeliness and outcomes.
3.Outcome disparity: Comparison of disclosure outcomes and exemption usage between MMTLP-tagged and baseline SEC FOIAs, controlling for request scope and subject matter.
4.Transparency of extensions: Whether the SEC logs and reports extension counts and delay events per request ID, and whether the current system understates delay frequency.

For convenience, I can provide the supporting spreadsheets and PDFs, including top longest-pending and most-delayed request IDs and category-level pending-day statistics.

Thank you for your consideration. I am available to provide the supporting materials, methodology, and any additional context your office may require, you have all my contact information on file.

Sincerely,
George Palikaras

[#8 @StarboardBound]

MMTLP 🔥

[Guess Who @RedHeelzz]

@LauraAnthonyEsq Hi Laura. $MMTLP and $MMAT shareholders are still waiting for the answer. Why was Bitech ($BTTC) using the retired Torchlight Energy ($TRCH) CUSIP? Why are you avoiding answering the question? $NBH $BESS

[MARDÜK the SMASH Panda💛 @MetaGuyMarduk]

MMTLP (TRCH/MMAT)

Interesting response from Grok.
Not financial advice / advice of any kind.
Always cross reference with other LLMs.

I asked for total trading data on Torchlight from 2013-2021.
The total volume (shares traded) is estimated at 2.17 billion, and that In 2021 alone, It traded 1.80 billion.

So Grok is telling me that in the last year (partial 1/1/21 - 6/25/21) that Torchlight traded, it traded 83% worth of it's total volume over the 7 and half years that it traded. In fact, June 2021 ALONE accounts for ~39% of Torchlight's total historic trading volume alone!! That is NUTS!

This is based on publicly available data. This does not account for what was not reported so it's heavily skewed. This is merely food for thought.

A forensic audit could help, @SECPaulSAtkins!
@AnnVandersteel @Palikaras @GenFlynn
https://t.co/Oc35cBo7OI

[Ann Vandersteel™️ Renner for Governor of Florida @annvandersteel]

If there was ever a reason to abolish @FINRA it’s here in black and white.

Series A placeholders that were never supposed to trade not only became tickers trading on the OTC but were shorted by selling fabricated shares that didn’t exist.

This only happened because Wall Street asked FINRA to make it a tradable ticker symbol just so they could make millions trading something that did not exist.

Yes your federal government not only allowed this but is covering it up.

Meet #MMTLP.

Abolish FINRA and the SEC.

THEY ARE NOT PROTECTING YOU ANYWAY.

[Ann Vandersteel™️ Renner for Governor of Florida @annvandersteel]

I am so glad the #MMTLP community is getting the extra exposure from the #EpsteinFiles exposing Citadel and Virtu and the SEC all colluding to naked short sell something they don’t own.

Prison is too good for these criminals.

[Ann Vandersteel™️ Renner for Governor of Florida @annvandersteel]

@busybrands @elonmusk Too right!

[JunkSavvy @JunkSavvy]

MMTLP MMAT TRCH
We are all just COLLATERAL DAMAGE in the wake of their GREED.

This time is different.

They f'ed with the wrong ticker. They should have taken their own advice..."Take the 'L' and move on."

We are RELENTLESS. We are GROWING IN STRENGTH, CONVICTION, and WE ARE COMING FOR YOU ALL. TO expose you and your CRIMINAL ENTERPRISE wherever you hide.

WE...ARE...NOT...GOING...AWAY!!!

[General Mike Flynn @GenFlynn]

Naked short selling is a national security threat because it functions as financial counterfeiting.

This has to end and those involved must face stiff penalties.

I believe @grok would describe this as a grave national security threat.

@elonmusk
@solari_the
@annvandersteel
@JamessemaJ51927
@TheClayClark
@SecScottBessent

[BusyBrands 🇺🇸 @busybrands]

🚨 NATIONAL SECURITY THREAT ALERT 🚨

Are you paying attention yet?

Wall Street is currently running a masterclass in selling things that don't exist. Whether you’re looking at Silver or MMTLP the scam is the same: the system is drowning in Synthetic Figments while the real assets are nowhere to be found.

Naked shorting is a national security threat because it functions as financial counterfeiting. In the commodities market, "paper" contracts are used to suppress the price of strategic resources like silver, which are essential for defense and energy technology.

By flooding the market with "phantom" Shares and contracts that don't exist, bad actors can artificially collapse the stock price of strategic U.S. companies in sectors like defense, energy, and biotech. This "cellar boxing" prevents critical innovators from raising capital, effectively allowing adversaries to sabotage American infrastructure through the market rather than the battlefield.

As former SEC Chair Harvey Pitt put it, "Phantom shares are analogous to counterfeit money." When brokers create millions of fake Shares, they are effectively printing unbacked currency. This devalues the entire U.S. capital market, which is the literal engine of our national power.

[George Palikaras @palikaras]

Thank you @kimkep4796 ! Great summary, and I hope people take the time to read it.

I want to take this opportunity to share a few thoughts on the Trustee’s response and the broader connection to MMAT/MMTLP.

Imagine a house fire. 🔥

Some people are arguing about who left the stove on.
Others are arguing about whether the smoke alarm was defective.

Meanwhile, the fire department is still trying to get through the front door, and a few, VERY powerful neighbors are blocking the driveway, saying...“You don’t have proof there’s a fire”

That’s where we are right now. The new proceeding is not about declaring winners or losers, or assigning guilt, or rewriting history.

It’s about whether investigators are ALLOWED to look!

In bankruptcy law, Rule 2004 is the equivalent of opening the door, turning on the lights, and checking the wiring.

You don’t need to PROVE arson to inspect the electrical panel. You inspect first, then you decide what actually happened. And the institutions are fighting back, hard.

That is why this motion by the Trustee matters. Why this is a major battlefield, and you should care.

One of the most important questions in modern markets is quietly being tested here:

Can a bankruptcy Trustee investigate whether trading behavior in public markets materially impaired a company’s access to capital, or can dominant market participants SHUT that inquiry down before it even begins?

If discovery is blocked at the investigatory stage, the message is simple and dangerous:

-price formation can be distorted,
-access to capital can be impaired,
-companies can fail, and no one is even allowed to examine the plumbing...
-and accountability can be avoided by steering companies into liquidation rather than restructuring.

That precedent does not just affect one ticker or one group of shareholders. It affects every public company that ever needs to raise capital in stressed conditions.

Positive momentum is building across all battlefields. This is the moment to stop the in-fighting. PLEASE.

Just for now.

Disagreements about personalities, past decisions, theories, or tactics can wait. What cannot wait is the defense of the basic principle that facts matter, and that investigators must be allowed to gather them.

What is happening right now, FOIAs, subpoenas, expert analysis, reconstruction of records, is the unglamorous work that actually determines whether truth is recoverable at all.

I’ve written before about FOIAs, data preservation, audit trails, and regulatory opacity related to #MMTLP.

This is exactly why that work matters. Once records are sealed, time-barred, or procedurally blocked, no amount of arguing on social media will bring them back.

Unity here is not about taking sides or who is right or wrong but everyone has the right to ask questions.

This matter also raises a threshold governance issue for Congress: whether existing legal and regulatory frameworks permit independent fiduciaries like Trustees to investigate potential market-structure failures that may have impaired issuer financing, creditor and shareholder value, or whether procedural barriers can be used to prevent fact-finding altogether.

The outcome has implications beyond a single bankruptcy. It touches on transparency, capital formation, regulatory accountability, and public confidence in U.S. equity markets.

At this stage, the issue is not liability, in my humble opinion. It is access to information. Preventing investigation before discovery occurs undermines oversight, frustrates statutory duties, and risks normalizing opacity where transparency is required.

And if we want the truth to matter later, we have to protect the ability to look now, and I hope and pray the Judge will offer the chance to the Trustee to open the door and take a look. If the institutions have nothing to hide, they should cooperate.

To the MMAT/MMTLP community, I would like to see fewer internal battles and more collective support for the investigative work, as well as many more community-driven actions already underway.

Everything you do, no matter how small, past/present:
-A FOIA request filed,
-A document preserved,
-A fact shared accurately,
-A moment of restraint instead of infighting.
That’s the butterfly effect, and it’s how transparency actually gets built🦋

Small actions change big systems because they compound. 🦋🦋🦋🦋🦋🦋🦋🦋🦋

Right now, a bankruptcy case is testing whether truth can even be examined before it’s buried.

This affects MMAT/MMTLP and far more than one ticker. 🧵👇

Sending you all positive vibes!

[randy mull @rmconst1969]

@annvandersteel @SECGov @FINRA Good morning, and thank you!

[George Palikaras @palikaras]

Would you like to see the evidence of Uzi not paying the bills and letting the website lapse, and shipping the company’s server with the entire corporate data to a location that was about to the sold to another company? Or how both he and Dan lied under oath? Or how the particular post you referenced and the case was DROPPED within weeks after the trustee took over the case and reviewed the evidence? Stay tuned Mani.