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. Furthermore, MMAT's cash from operations came in at a negative $9.06 million compared to the industry average of $112.30 million.HALIFAX, NS / ACCESSWIRE / Ma/ Meta Materials Inc. ![]() Also, its ROA and return on total capital are negative 13.5% and 3.7%, respectively. Its trailing-12-month asset turnover ratio of 0.01% is 98.8% lower than the industry average of 0.7%. In addition, its net cash used in operating activities surged 25.7% year-over-year to $5.61 billion for the six months ended June 30, 2021. Its loss per share increased 200% from the prior-year quarter to $0.03. The company's net loss grew 185.2% from the year-ago value to $5.18 billion. ![]() MMAT's operating expenses increased 90.4% year-over-year to $5.08 billion in the second quarter ended June 30, 2021. ![]() However, this acquisition is expected to lead to a significant cash outlay in the near term, impacting MMAT's already weak balance sheet. This acquisition might boost MMAT's growth and leadership position in commercializing metamaterials. This month, MMAT acquired Nanotech Security Corp., a leader in developing secure and visually memorable nano-optic security features that provide anti-counterfeiting solutions used in the government, banknote, and brand protection markets through an all-cash transaction valued at approximately C$90.9 million on a fully diluted basis. Here's what could influence MMAT's performance in the near term: Though the company is working through various collaborative research and projects to accelerate its growth, the stock's bloated valuation and inadequate financial strength could make investors worried.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |