 Welcome, MetaMateria. What's up, my name is GeeksMSAV here. Welcome to another video, guys. So in today's video, I'm gonna give you guys major update as to the merger between torchlight energy and MetaMateria. Everything is completed. And now, so starting this week, we are going to see some changes, the new ticket symbol, and what you would expect if you own the stock. If you have a torchlight energy, what happens to those stocks that you have? So we're gonna cover that in today's video. But before we get to the guys, if you're new to the channel, we talk about how to earn money, how to save money, how to invest and build wealth. So we have something that interests you. Go ahead and hit that subscribe button and the notification bell so you don't miss out on new content. So guys, their party is over for torchlight. The merger is completed. They're excited to move forward to the new phase in the company's history. Again, you can see here torchlight energy has completed the merger with MetaMateria and the new ticket symbol is ready to go. So I'm gonna bring up the actual company announcement here. So we're gonna read through this so we don't miss out any important facts. So let's jump right in. Again, this is for people that have their torchlight stock. If you bought the stock or you're looking to get into the stock, I wanna make sure that you have all this information. So let's just kind of read through this chronologically and make sure that I would explain some of the things that are as mentioned in here so you guys are aware. So again, as you can see here torchlight announces payment of the special series, a preferred stock dividends. Remember back maybe like a month ago when they talked about the fact that they were giving out special dividends for people that held the stock. So that is part of the process. That dividend is gonna be paid out to people that own it, that own the stock. And then most importantly, they announced that they're gonna do a one for two reverse stock split. And again, for people that don't understand what this means is for a reverse stock split, the company is really aiming at reduces the number of outstanding shares that it has out there in the market. So if they take it, so for every two shares that you own, they're gonna consolidate that and give you one, but with the equivalent price. So I'll give you a good example here using torchlight. Torchlight closed last week at about $4.95. So for every two shares of torchlight that you own, you would get one share of meta-material at the equivalent price. So take 495 times two. That would give you the price of the one share that you get. So you're not losing, you lose the number of shares that you would have or not even lose, but the number of shares that you have would decrease, but the price value doesn't change. So that is what's gonna happen. So most people are asking the question about why they're doing the one for two or what's the implication of the one for two? That is the reason that's how that's gonna affect you. And again, they do this for multiple reasons. It could be that they just want to make the stock look more palatable to investors. Thank you for your reasons. If the stock is trading above $5 and then they can start trading options and stuff like that. And if it trades below $5, most of that will not have options. And stocks with options attract no hedge funds and bigger investors, whereas stocks that don't have options don't really attract a ton of investors. So that's something that they want. And another reason could be that they're trying to boost the company image. So the one that public image to really be strong when they look at the price of this stock. So again, those are just some of the key reasons why I think they are doing the one for two split. Again, the one for two split simply means that if you own touchlight prior to the merger, after that merger, for every share of touchlight that you have, you're gonna get one share of meta-material for the price of the two touchlight stocks that are shares that got merged. So again, if one share of touchlight was $4.95, they'll give you one share of meta-material at $4.95 times two will be the price just so you guys know. So let's keep on reading here. So again, today announced that they paid the Special Series A preferred stock dividends. So I'm reading from here. So you guys just can follow through. On the one for one basis on its stockholders of record on June 24th. So if you had the stock by June 24th, you would get that dividends. Touchlight also announced that it implemented a one for two reverse stock split which I just explained of its common stack. The reverse split which will become effective after market closing on June 25th, 2021 was approved by the stockholders of touchlight at a special shareholder meeting held on June 11th. The one for two ratio represented lowest amount touchlight may implement under the one to 20 range that was previously approved by the stockholders. Touchlight also announced that the steps necessary to close the business combination with meta-material were completed on June 25th. And therefore, touchlight expect that the business combination will be effective on June 28th as of 12, 01 a.m. So if you wake up June 28, Monday, June 28th, this is gonna be the new future for the touchlight. Commencing on June 28th, 2021, touchlight's name will be changed to meta-material. Again, this website was saying here, all this is gonna disappear, it's gonna become meta-material. And its common stack will begin trading on the NASDAQ under the ticket symbol. Again, write this down if you don't know yet, M-M-A-T, meta-material, that would be the new ticket symbol. Remember that meta-material trades on the Canadian exchange and touchlight traded under American exchange on the NASDAQ. So now meta-material is gonna be trading on the NASDAQ under this new ticket symbol, M-M-A-T. So prior to implementation of the reverse tax split, it was expected that meta-material shareholders would receive 3.690 shares of touchlight common stack in exchange for each of their shares of meta-material. This exchange ratio was planned to result in the meta-material and shareholders owning approximately 75% of the resulting post-merger company. Meta-material subject to financing prior to the closing of the business combination to ensure that the meta-material shareholders own the same approximately 75% after the reverse split, the exchange ratio was divided by two, to 1.845 shares of touchlight, which will be named meta-material as of Monday morning for each share of meta-material to reflect the reverse split impact on total outstanding shares of touchlight. So again, these are the details that we were looking for to kind of see and know exactly what's happening here. So again, if you wake up Monday morning, starting this week, you're gonna be looking, instead of looking at CRSCH, which was touchlight, you're gonna start looking at M-M-A-T. That would be the new ticket symbol. So you would see that in your account, if you had touchlight, you're gonna see now it's gonna change to this. So again, a lot of people, in my personal opinion here, what I see is there's gonna be a lot of pressure on the stock per se. People are gonna wanna buy in, because I mean, obviously for the fact that the company is going through this merger and it looks like it's gonna get a lot more exposure and a lot more reputation and people want to be a part of that deal. So definitely something that you have to keep an eye on this week. This stock would definitely make the rounds this week. Remember that if we just jump here and take a look at what this stock just did, just this month alone, you can see here kind of a squeeze. This thing just squeezed from like $2 and some change all the way to a high of, I think this thing here is saying $9, but this thing was way over nine. I think it went to a high of about 11 before pulling back. So it finally pulled back to right now sitting at $4.95. So again, it's gonna open on Monday at about $9. So $9 and some change. That would be the base, the new openings appoint for meta-materia. Again, like I said, the reason why they're probably doing that reverse stock split is again, to give them some reputation, public image attract more investors, maybe just to prevent them from being delisted if they don't meet all their requirements. Again, to give them the ability for people to trade options with the stock. So that could be a good reason. So again, guys, this is, I mean, for Russ, this is excellent news. I'm excited about this one. So one other key thing that I wanted to bring up here is that because the fact that these reverse major was actually announced at the end of the week. So a lot of people that have short positions on the stock might wanna close it first thing Monday morning. So they're gonna try to jump in and close their short positions. And by doing so, they're gonna be buying the stock to close the short position. So you probably see that would put pressure and push the price of the stock up. And again, you probably see a lot of new investors that are just hearing about the stock who wanna jump in and maybe write that wave of the merger news. And again, that's probably gonna put a lot of pressure on this stock. So definitely keep an eye on this week because there's a high possibility that this thing is probably gonna spike. Again, it's spike and then before it would come back down to where it really does belong. So again, my strategy for this week is since I cannot buy any options because when the market opens at 3 a.m. my time, pre-market, I'm not gonna be able to buy any options. And most often than not, you would probably need a very sophisticated platform to trade them because I think in Weibo, most often it would be like this stock is not tradable until the morning when the market opens before the stock was that trading again. So definitely keep an eye on that but I'm gonna be watching this one closely. So let me know again in the comment section what you guys think about this good news. Metamaterial is now trading on the NASDAQ under the ticket symbol. Again, bring it up here so we don't mess it up. MMAT, that would be the new ticket symbol. Again, let me know what you think about this. Do you currently own this stock? Are you holding long-term? Are you swinging or what's your strategy? I personally think this is a stock to hold long-term. If the future is clean tag, the future is these kind of tech materials. I think Metamaterial has a good foot on the door to be able to explore that space. So again, let me know in the comment section if you're new to the channel, we talk about how to earn money, how to save money, how to invest and build wealth. So if that's something that interests you, go ahead and hit that subscribe button and the notification bell so you don't miss out on new content. Also guys, if you're looking to get started with investing, Weibo has the promotion where if you sign up and deposit $100, you get some free stocks. Links in the description below. And as always guys, do your due diligence. Don't be a greedy savage. Stay motivated.