On February 10, 2023, META entered into a sales agreement (the "ATM Agreement") with an investment bank with the establishment of an "at-the-market" offering program under which the Company may sell up to an aggregate of $100 million of shares of common stock (the "ATM Shares") from time to time. The Prospectus was declared effective by the SEC on November 18, 2022. 333-268282 on form S-3 allowing it to issue securities with aggregate offering price not to exceed $250 million. On November 9, 2022, META filed a registration statement (the "Prospectus") no. Meta may not be successful in identifying suitable financing transactions in the time period required or at all, and it may not obtain the capital it requires by other means.įuture capital requirements may vary materially from period to period and will depend on many factors, including the timing and extent of spending on research and development efforts, and capital expenditures. META may pursue sources of additional capital through various financing transactions or arrangements, including the sale/leaseback of certain properties, joint venturing of projects, debt financing, equity financing, or other means. META anticipates that it needs to implement expense reduction measures under its control and immediately raise additional capital to expand the commercialization of its products, fund its operations, further its research and development activities and ensure that it can continue to operate as a going concern. META has identified factors that raise substantial doubt about the Company's ability to continue to operate as a going concern and to achieve compliance with NASDAQ continued listing requirements. In FY 2022, net cash used in operations totaled $62.2MM. In Q4:22, changes in working capital contributed $4.4MM and capital expenditures were $7.6MM. In Q4:22, net cash used in operations totaled $13.7MM, and non-cash expenses were $7.8MM, including $3.9MM in depreciation and amortization and $3.4MM in stock-based compensation. On December 31, 2022, cash and cash equivalents totaled $11.8MM, including $1.7MM in restricted cash. compared to a FY 2021 net loss of $91.0MM, or $0.39 per share on 232.9 million weighted average shares. assets and liabilities and the recording of the net estimated collectible value of notes receivable of $2.2MM due from Next Bridge Hydrocarbons, Inc. The FY 2022 net loss was $79.1MM or $0.24 per share on 328.3 million weighted average shares and including a one-time gain of $4.0MM resulting from the deconsolidation of the Next Bridge Hydrocarbons, Inc. assets and liabilities and the recording of the net estimated collectible value of notes receivable of $2.2MM due from Next Bridge Hydrocarbons, Inc., compared to the Q4:21 net loss of $29.5MM, or 13c per share on 232.9 million weighted average shares. The Q4:22 net loss was $15.2MM, or 4c per share on 362.5 million weighted average shares and including a one-time gain of $4.0MM resulting from the deconsolidation of the Next Bridge Hydrocarbons, Inc. FY 2022 operating expenses totaled $90.4MM, vs. Total operating expenses were $24.8MM, vs. The complete Q4 and FY 2022 financial statements, updated risk factors, going concern discussion, summary of progress made on identifying and addressing remaining material weaknesses in META's internal controls and associated management discussion and analysis for the quarter and year ended December 31, 2022, are available on the Investors section of our website as well as on, or on the SEC EDGAR website at In Q4:22, total revenue was $1.4MM, compared to $2.3MM in Q4:21. (the "Company" or "META®") (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced fourth quarter and FY 2022 results. ‘Gaslighters have two signature moves’: Are you being gaslighted at work? Here’s how to recognize the signs.HALIFAX, NS / ACCESSWIRE / Ma/ Meta Materials Inc. My 2 sisters predeceased them, leaving 6 kids. ‘After my mom died, they did not visit my dad or call him’: My parents left me $800,000. Powerful quake in Morocco kills more than 2,000 people and damages historic buildings in Marrakech Our $200,000 profit was wired to her account. ‘Things are rocky between us’: My girlfriend and I sold our Florida home. ‘Is this heaven?’ No, but it’s the best state to retire in.Ĭoco Gauff wins the US Open for her first Grand Slam title at age 19 by defeating Aryna Sabalenka ‘My in-laws are moving in with us, so I’d like them to inherit our home’: Is that a good idea? IRS will pursue 1,600 millionaires who owe back taxes - promises ‘sweeping and historic changes’ The Case to Keep Working Past Retirement Age 6 Inexpensive Consumer Stocks With Strong Profit Growth
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