Wolverine

[Wolverine @Wolverinemmtlp]

Key event resource list. https://t.co/3vTNgsaDKG

[Rare DD @RareDealsHere]

Under U.S. securities laws (specifically Regulation SHO and anti-fraud provisions like Rule 10b-21), naked short selling, also known as counterfeiting shares is illegal, regardless of the fundamental outlook, financial health, or future prospects of the target company.

So called experts can say whatever they want about Torchlight or the assets that MMTLP represented, but even if they are correct, it wouldn't justify illegally engaging in Market Manipulation.

When Torchlight was about to transition to a dividend placeholder representing Torchlight's assets, options were applied for and approved just two weeks before TRCH was to stop trading.

This options activity seemingly allowed for more manipulation, it provided a way to delay settlement of short positions, and it seemingly anticipated that a pathway would be created for the dividend to become tradeable, even though it went against the wishes of the issuer.

Fast forward to just before MMTLP was U3 halted.

It isn't FINRA's role to author the Corporate Action but they did, changing the dates that were made effective by the SEC.

Why is this so easily overlooked?

Then FINRA met with the DTCC without the issuer and revised the Corporate Action unilaterally.

FINRA eventually claimed that the U3 halt was due to the timing and structure of the Corporate Action that they themselves created.

So why didn't FINRA discover the issue during their two Rule 6490 review processes before the publication of each MMTLP Corporate Action?

It's because FINRA and the SEC knew there was a problem and the way FINRA planned their version of the Corporate Action and U3 halt allowed them to hide the imbalance which would've been obvious if brokerages were allowed to force liquidate short positions and conduct position close only transactions on December 9th and December 12th, 2022.

So look at image 1...

Why would it matter what a pumper or influencer said about trading MMTLP if the brokerages were communicating to clients that trading would occur on 12/9 & 12/12? It also says that New Buys wouldn't be allowed after 12/8 so these transactions were about reconciling obligations, not about people buying that wouldn't have settled positions on 12/12.

Image 2...

More evidence of what brokerages had planned based on the Corporate Actions that FINRA published.

FINRA knows that these messages were going to investors, giving them the impression that trading would occur up until 12/12, so why didn't FINRA provide clarity instead of just halting trading?

Image 3...

FINRA suspected the issuer of fraud/manipulation and initiated a blue sheet investigation on 12/5/22, one day before publishing the first MMTLP Corporate Action.

The problem here is that based on FINRA's Rule 6490 and common sense, how are you protecting investors by proceeding with the Corporate Action while simultaneously suspecting the issuers of fraud/manipulation?

Image 4 provides a clue!

The FIF which represents the broker-dealers that traded MMTLP, admitted to the SEC that FINRA's U3 halt prevented addressing MMTLP shares out on loan. This is what is referenced in images 1 & 2 concerning the Position Close Only trading and forced liquidations that would've occurred if FINRA didn't U3 halt trading.

[Rare DD @RareDealsHere]

Here's a clearer image of the communications from image 1 above, along with additional messages explaining what MMTLP holders were basically told to expect.

@FINRA knows these were sent to investors but they allowed investors to believe trading would occur up until 12/12, and then they pretended to discover an issue directly before brokerages were allowed to proceed as planned. @TheJusticeDept @FBIWFO

[Rare DD @RareDealsHere]

Think about the timeline!

FINRA U3 halted MMTLP before the start of the Friday 12/9/22 trading day.

Immediately investors were confused and complaining to both FINRA and the SEC, but still uncertain if trading might resume on 12/12.

On Sunday 12/11/22, Robert W. Cook is telling every FINRA employee at multiple offices across the United States to stay home unless it's absolutely necessary to come in, and Stephanie Dumont is planning to meet with the SEC via Zoom the following day to discuss MMTLP.

WHAT WAS ENFORCEMENT DOING DURING THIS TIME???

Did they just ignore the fact that every FINRA employee was being told to stay home?

FINRA announces Hopper's departure in January, she leaves in February, and the first FINRA MMTLP FAQ came out in March.

What this shows is that the entire time from the halt to Hopper's departure, MMTLP was definitely a major focus at FINRA.

Never before had there been an FAQ concerning a single ticker. FINRA then had to revise the first and eventually put out a supplemental FAQ.

Are we supposed to believe that Hopper's departure was unrelated?

Isn't it ironic that Hopper, not long before the halt fined Robin Hood a record $70M for misleading millions of customers?!

This describes FINRA's actions in regards to MMTLP!

FINRA ignored the multiple reasons to NOT process the MMTLP Corporate Action including the suspicion of fraud/manipulation before the first Corporate Action was published...

FINRA overstepped their authority, authoring the Corporate Action including dates that didn't come from the issuer.

Then FINRA met with the DTCC/NSCC to discuss the Corporate Action without the issuer being present, resulting in another revision on 12/8 that the issuer wasn't involved with.

In FINRA's March 2023 FAQ they claimed that the MMTLP Corporate Actions created by FINRA were consistent with what the companies previously disclosed to the public but this was a LIE!

The Next Bridge Hydrocarbons/Metamaterials/MMTLP Corporate Action was supposed to be focused on a 1 for 1 Exchange that would occur on 12/14/22 after the close of business New York Time, after which all shares of MMTLP would be Cancelled.

FINRA's MMTLP Corporate Actions were both focused on the zero hour of 12/13 (40 hours before the planned EXCHANGE).

FINRA's first Corporate Action misled investors into believing share cancellation was changed to the zero hour of 12/13 (removing 40 hours of settlement time, the equivalent of two trading days)...

Then, in the revision FINRA didn't include a correction to the share cancellation date so brokerages continued to tell their clients that 12/13 was the share cancellation date, but they also conveyed that trading would occur on 12/9 and 12/12, but only Position Close Only transactions.

Other brokerages began to inform clients with short positions that they'd begin to force liquidate those positions if they weren't closed by the end of the 12/9 trading day.

Why didn't FINRA step in to provide clarity when these messages began to be sent to clients on 12/7?

The DTCC/NSCC clearly saw what was coming and they seemingly told FINRA what changes to make to the MMTLP Corporate Action. (I'm basing this theory on the evidence)

FINRA proceed to make the 12/8 MMTLP Corporate Action focused on symbol deletion occurring at the zero hour of 12/13. This resulted in an Exchange occurring before the actual planned 12/14 exchange.

FINRA's exchange involved every brokerage exchanging the "MMTLP" they held for a dummy/internal cusip that some brokerages claimed were Next Bridge Hydrocarbons shares.

This is impossible because Next Bridge Hydrocarbons didn't allocate the Next Bridge shares until 12/14/22, just as they said they would.

This is the definition of misleading!
@FBILosAngeles @FBILouisville @VP

[Rare DD @RareDealsHere]

If you recall, when the @SECGov dropped the ball in the Madoff scandal, the only people forced out were from Enforcement.

Ironically some of the names from that screw-up are also linked to the MMTLP Fiasco.

Hopper left FINRA before FINRA published the first MMTLP FAQ.

Kelly and Colone left before FINRA published the Supplemental MMTLP FAQ.

Nobody from Enforcement appeared to have been included in 12/12/22 meeting between FINRA and the SEC directly before the deletion of MMTLP trading symbol which officially locked in the settlement issue we've been stuck in more than 3 and half years!

The appearance is that Hopper didn't like what happened in regards to MMTLP, but she accepted the glowing review and the remote position at Edward Jones instead of speaking up.

That's just the way it looks! @FBIWFO @TheJusticeDept

[Rare DD @RareDealsHere]

The link below is from a July 2026 article concerning recommendations to overhaul FINRA Enforcement.

I pulled a couple quotes directly from the article but I'll also remind the public that FINRA's Head of Enforcement resigned shortly after the events of December 2022, which included FINRA's hijacking of the MMTLP Corporate Action and U3 halting trading before brokerages were able to commence the forced liquidation of short positions and Position Close Only trading they planned for 12/9 & 12/12.

Hopper was at FINRA for about 18 years and she was only Head of Enforcement officially for about two years.

Not long after her departure, Christopher Kelly, who worked with Hopper and who was briefly Acting Head of Enforcement, also resigned (after 9 years) from FINRA along with Lisa Colone of FINRA Enforcement.

From the article:

Finra Chief Executive Robert Cook wrote that what distinguishes the self-regulator is its focus on the “right outcome” rather than “case numbers, fine amounts.”

“We welcome these recommendations,” Cook wrote. “Finra is committed to drawing on these recommendations to strengthen our enforcement program, make necessary changes, and ensure it is operating in a fair, transparent, and effective manner.”

There's nothing fair or transparent about FINRA breaking their own rules and hiding the truth about knowing there was a problem with MMTLP and MMAT before FINRA overstepped their authority to author the MMTLP Corporate Actions.

The very department responsible for Enforcing the rules (Enforcement), typically when they find wrongdoing on behalf of broker-dealers, just coincidentally abandoned FINRA directly after the biggest scandal they've faced in which FINRA harmed investors by breaking their own rules.

How else do you explain randomly leaving FINRA after 18 years when you were only Head of Enforcement for 2?

Now these suggested changes are gonna allow broker-dealers to fully take advantage of FINRA because their current Head of Enforcement, Bill St. Louis isn't fit for the position... In my opinion!

https://t.co/kHSVTeEjz9

[Devinely Built @DevinelyBuilt7]

Dear @VP:
Yes! 🤝 Drill Baby Drill‼️
But undo the 4 years of regulatory robbery that took place under Gary Gensler? @SECGov 👇
$MMTLP is an American travesty, right? It’s time for answers. Make it right! 🙏 Defend the future of American Investments! 🇺🇸
https://t.co/tkBPGFkijZ

[Devinely Built @DevinelyBuilt7]

@nicksortor

[BusyBrands 🇺🇸 @busybrands]

With @Beardvet in Nebraska at the @POTUS rally.

[Laker Jay @MMTLPlifer]

@JDVance said it clearly: “We’re done catering to Wall Street. We’ll commit to the working man.”

That working man is the MMTLP Army.

President Trump, please stand w/ us. Sign the letter calling for the financial audit and help bring the truth and a resolution to light.

[Beard Vet @Beardvet]

48 is Exposing Waste, Fraud and Abuse, and I for one totally support it. The People want Accountability so this crap can never happen again

All Will Be Exposed

[ArtBurn @ArtburnDesigns]

The machine was exposed years ago. However, it never really went away.

But then something different happened when MMTLP was frozen in it's tracks almost 4 years ago.

And for once, those cracks couldn't simply move on with the market.

And what was left behind, told a story.

Watch to the end.

- A creative homage to Apple's iconic "1984" commercial.

[ArtBurn @ArtburnDesigns]

MMTLP CALL TO ACTION.

If we want Shawn Ryan’s team to take MMTLP seriously, everybody needs to write like a source, not like an angry shareholder.

The biggest mistake would be sending emotional messages, giant theories, accusations, or 20 links with no explanation. Producers are looking for a story they can independently verify.

Here’s what shareholders should keep in mind:

Lead with the story, not the grievance.

Say what happened in one or two clean sentences: FINRA halted MMTLP in December 2022, shareholders lost the final trading window, and the matter is still unresolved years later.
Immediately explain why this is worth looking at now.

This is no longer just social-media speculation. There is now a federal bankruptcy investigation into possible market manipulation, subpoenas and discovery directed at major market participants, and a documented regulatory paper trail. The trustee has said she is investigating whether manipulation of Meta Materials stock harmed the company and that discovery could reveal claims including securities fraud, naked short selling, breach of fiduciary duty or other wrongdoing, while also making clear that none of that has yet been proven.

Yes, include FOIAs — but only the strongest ones.

Don’t dump every FOIA you have. Use one or two that immediately establish significance. A very strong example is the FINRA email showing that its fraud team was looking at MMAT/MMTLP and was actively blue-sheeting both securities before the halt.

Use primary sources whenever possible.

Court filings, FOIA responses, SEC filings, FINRA documents, sworn declarations, official company releases. Those are much more persuasive than screenshots of somebody’s post explaining the documents.
Links are good, but curate them.

Three excellent links with one sentence explaining each is better than thirty unexplained links. For example:
one FOIA, one important bankruptcy filing,
one official timeline or issuer document.
Do not overstate what the evidence proves.

This is huge. If something is under investigation, say it is under investigation. If something is alleged, call it alleged. If the evidence shows coordination, say “documented coordination,” not “collusion” unless there is proof of collusion. Credibility is everything.
Avoid leading with naked shorts, synthetics, corruption, conspiracy, crime, or cover-up.

Those may be questions worth investigating, but if you present them as established fact before the producer sees the evidence, you risk getting dismissed immediately.

Give them named institutions and concrete facts.

FINRA. SEC. Nasdaq. Citadel. Virtu. Anson. DTCC. Federal bankruptcy court. Millions of records. Actual subpoenas. That sounds like an investigation. “They stole our money” sounds like a complaint.
Mention the scale of the documentary record.

FINRA has described responsive discovery as involving about 4.9 million messages and 2.56 terabytes of data.

The SEC also previously identified roughly 10.6 gigabytes, about 636,000 pages, of internal communications concerning Meta Materials/Torchlight.

Those numbers tell a producer immediately that there is a real paper trail to examine.

Give them a way into the story.
Don’t just say, “Please cover us.” Say:
“We have organized primary-source documents, a dated timeline, FOIAs, court filings and people who can walk your research team through the evidence.”
Keep the first message short.

The first contact should make them curious enough to reply. It should not attempt to litigate the entire MMTLP case.
Do not all send identical copy.

That can look like a coordinated spam campaign. Everybody can use the same basic facts, but write in your own voice and, if possible, add your own perspective: shareholder, veteran, retiree, business owner, former market professional, etc.

And the single most important thing I would tell everyone is:

[GLASS GUY @Giftsonglass]

#mmtlp
Atkins better start doing something more than "We'll See"

We'll see????
What the hell???

Twice???
What's going on in the SEC????

[JunkSavvy @JunkSavvy]

🚨NAKED SHORTING IS A NATIONAL SECURITY THREAT...
Just ask @GenFlynn @laralogan.
After years of playing it their way, the CEO speaks out!!! Next Bridge Hydrocarbons CEO Greg McCabe tells the story behind the BIGGEST FINANCIAL CRIME of the century. So big, "nobody knows what to do".
If nothing is wrong, what is the share count?
MMTLP MMAT TRCH @nbhydrocarbons
Full interview W/ @GoingRoguewLara: https://t.co/o7sbuAp0Rj

[Kurtis @bleedblue18]

More than 3 years later, THOUSANDS of FOIA requests have been submitted to the @SECGov with less than 1% granted. Those few document releases confirm FINRA, SEC, OTC, and institutions breaking securities laws and conspiring to avoid financial ruin from naked shorting MMTLP.

[The Butcher of Wall Street | Marcel Kalinovic @BossBlunts1]

The MMTLP U3 trading halt damaged over 124,000 retail investors per Next Bridge CEO @GregMcCabeJr.

"You've heard of all the chaos around Gamestop, AMC, and what they refer to as "meme-stocks"... our price started running up then other people started hearing about it and that's when chaos reigned supreme... the volume was through the roof... People were talking all over (social media) about when they spin-out — shorts having to close their short positions (on the 9th and the 12th)."

FINRA halted trading and quoting before the market opened on December 9th, 2022.

Full interview with @laralogan link in the comments

[The Butcher of Wall Street | Marcel Kalinovic @BossBlunts1]

Greg McCabe, CEO of Next Bridge Hydrocarbons, says the evidence in MMTLP points to potentially more than a billion counterfeit shares tied to his company.

On Going Rogue with Lara Logan, McCabe explains why he believes what happened to Next Bridge is not an isolated case.
“We are not an outlier. We are the tip of the iceberg.” - per Greg McCabe

Full interview on Going Rogue w/ Lara Logan:
https://t.co/7vcfPGfgOw
w/ @laralogan and @GregMcCabeJr

[BusyBrands 🇺🇸 @busybrands]

The longer this goes on, the more this blame falls squarely on Chairman Atkins, not Gary Gensler. It’s starting to look like he simply wants to bury it and cover it up.
But, to answer your question,
Oh, it runs deep!

From Congress, the SEC, and FINRA to broker-dealers and market makers, the whole system is tied up in this.

@SECGov Chairman @SECPaulSAtkins claims to champion free-market integrity and regulatory transparency. Yet retail investors trapped in the $MMTLP scandal are still waiting on his "we’ll see" response given over 10 months ago on Making Money with @cvpayne on @FoxBusiness.

[Kurtis @bleedblue18]

To @JamesOKeefeIII: Your team was fantastic in 2023 about collecting information regarding the MMTLP trading halt, but unfortunately we didn’t have the NAMES of the responsible parties. Now we do. It’s time for a follow up.

[BusyBrands 🇺🇸 @busybrands]

Welcome back, @cvpayne!

Glad to see you back in the saddle so quickly.

There is lots to catch up on with MMTLP. Please check out this clip from @laralogan's recent interview with @nbhydrocarbons CEO Greg McCabe.👇

As always, thank you for your continued support, sir. 🇺🇸🫡