Meta Materials meanwhile posted a $CAD 55.08 million loss in Q1.BY: David Moadel, InvestorPlace Contributor It posted a $249.51 million net loss in the period. Senseonics, like Meta Materials, realized a significant loss in Q1. The difference is that Meta Materials’ solution is non-invasive. Senseonics is a diabetes management firm that is progressing toward the commercialization of an implantable glucose monitor. There are at least a few parallels between Meta Materials and Senseonics (NYSEAMERICAN: SENS). It is safe to assume that Meta Materials will direct some of the $160 million in capital from the merger toward accelerating commercialization.
#Torchlight merger meta portable#
If successful, it could be a substantial leap forward in diabetes management, eliminating painful aspects of the process.Īccording to the press release, the company’s looking for more strategic partners to help get its products commercialized as well as ways to make glucoWISE more portable and app friendly. The project aims to commercialize the META glucoWISE Home Hub system. They were proven to increase the transmissibility of normally weak glucose signals by 240%.
Its metamaterial films were an integral part of the project. Meta Materials led the project through its wholly-owned subsidiary, META. The company announced the conclusion of a 27-month project on July 6 that aims to commercialize a jointly-developed, non-invasive, glucose-sensing prototype. When it completed the business combination with Torchlight Energy Resources the accompanying press release noted that it would discuss recent events and future growth initiatives on July 6. It is apparent that it is attempting to further establish its position within health and wellness in particular. Meta Materials technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Ostensibly that cash will be directed toward materials development alone since its newly purchased oil assets are being sold.īased on those assumptions, is MMAT stock worth establishing a position in? A Closer Look at TRCH Stock As a result of the combination, it has $160 million in cash with nearly zero debt. The focal point moving forward for potential investors is whether Meta Materials makes sense as an investment. Torchlight CEO John Brda will remain with the new business combination while its oil & gas assets are disposed of.ħ High-Quality Stocks to Buy That Are Trading Below Fair Value Meta Materials shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%. Nevertheless, it seems that the terms of the deal were enough to entice shareholders to agree to the merger. Yet the acquirer profile looked to be a larger oil E&P company. TRCH stock had long been considered an acquisition target.
The synergies leading to the business combination are somewhat unclear. Torchlight Energy Resources was an oil & gas exploration firm that operated in Texas. Meta Materials is a company that develops functional materials and nanocomposites.
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