His Substack newsletter,TLV Strategist, covers the Israel business scene. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. On YouTube, the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. The industry leader for online information for tax, accounting and finance professionals. A short is more appealing when there's a clear endgame in sight. But . Basically, Metamaterial shareholders get 75% of the new company. That was a huge move for the exploration and production company because it helped to clean up Torchlight's balance sheet. Whats behind the move? Of course, they will additionally get whatever TRCH can sell its assets for or whatever their share is worth from the TRCH asset spinoff. The current price of West Texas Intermediate (WTI)is currently $61.50 barrel. as legal advisors. Oil averaged $40.75 that month, Conoco Phillips acquires Concho resources in 9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. I am not receiving compensation for it (other than from Seeking Alpha). It will likely be spun off onto the OTC exchange. "NASDAQ is the world's premier technology exchange, providing us with the best platform to expand awareness of META on the global stage and fully realize the value of our portfolio of innovative sustainable products. As a result, META has won a number of industry awards and federal government grants for its pioneering work, including being named among the "2019 Global Cleantech 100", by Cleantech Group. On December 14, 2020, the companies signed an agreement for the . The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. ), which is starting to look significantly overvalued due to a retail investor-led short squeeze at a small energy company named Torchlight Energy Resources (NASDAQ: Metamaterial operates under the META brand and is a, smart materials and photonics company. 2023 Meta Materials Inc. All rights reserved. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. Do you remember the GameStop (NYSE:GME) short squeeze? The closing of the Transaction is subject to the satisfaction or waiver of customary closing conditions, including approvals by NASDAQ and the Canadian Securities Exchange (CSE), Canadian court approval, and approval by the shareholders of both companies. It appears to only want the Nasdaq listing. In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). The whole stock market depends only on whether there are more shares than idiots or more idiots than shares. This transaction is similar to the popular deals involving. Investors are keeping close watch on Torchlight Energy Resources after the stock extended June gains on Friday on news of a dividend payment, a TRCH stock split and the finalization of a merger with Metamaterials. PLANO, TX and HALIFAX, NS / ACCESSWIRE / September 21, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ("Torchlight") and Metamaterial Inc. ("META") (CSE:MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the execution of a non-binding letter of intent ("LOI", signed on September 15, 2020), for Torchlight to acquire 100% of META and to divest within the first half of 2021 Torchlight's oil and gas assets for the benefit of Torchlight's legacy shareholders (the "Proposed Transaction"). These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Here is a DD write up and estimate by user u/Mr_Delmont. META's portfolio comprises 28 patent families, 19 of which are granted. I think the main risk for the bear case is a second short squeeze. Torchlight will loan to Metamaterial an additionalUS$500,000, in exchange for an unsecured promissory note in substantially the same form as the 8% unsecured convertible promissory note that evidences Torchlights loan to Metamaterial ofUS$500,000onSeptember 20, 2020. The company isnt popular on WallStreetBets, but you can find viral posts on the RobinHoodPennyStocks, pennystocks, and smallstreetbets subreddits touting it as a potential short squeeze. From here, we believe we can now comfortably support our near and long-term growth initiatives, said Ken Rice, CFO and EVP of Meta Materials. All rights reserved. have over 50,000 views each. This year is weird. It has gone up significantly since the merger announcement. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. Entry into a transaction will be subject to satisfactory completion of due diligence by both parties, negotiation of a Definitive Agreement and audits of Torchlight and META. With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the "META Note") and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the "Loaned Amounts"). Winkler Project 1,080 gross acres, 12.5% WI (non-operated) under contract for $450k (350k to Torchlight). META has also partnered with Lockheed Martin and the Canadian Government's Sustainable Development Technology Canada (SDTC) fund to develop metaSOLARTM a new solar energy product suitable for the transportation industry. Metamaterial has some interesting products at the moment. The Proposed Transaction represents a strategic shift for Torchlight. On April 30, the company disclosed that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. Perform your own due diligence and consult a financial professional before trading. Liquidity is low on. commented Ram Ramkumar, Metamaterial's Chairman. Is there a short squeeze? The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. Opening a small short position on the CSE could be a good idea. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money for their shell and get to keep the energy business. Investors appear to be responding to rumors about the company working with Tesla. In November 2010, Pole Perfect bought Torchlight Energy and abandoned all of its previous business plans within the health and fitness industries before formally changing its name to Torchlight in 2011. read more. (you can quote me on this). Copyright TRCH Stock: The Big News That Has Torchlight Energy Soaring Today, 5 Hypergrowth Stocks With 10X Potential in 2023, How to Tell if an AI Company Is Legit or Selling Snake Oil, Expect the Amazon Stock Slump to Continue, Louis Navellier and the InvestorPlace Research Staff. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. Torchlight, Metamaterial and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Torchlight Shareholders in connection with the proposed business combination. If it's a value stock - great. Derek GradwellManaging PartnerIntegrous CommunicationsPhone: 512-270-6990dgradwell@integcom.usir@torchlightenergy.com, Graham FarrellHarbor Access LLC(416) 842 9003Graham.Farrell@HarborAccessllc.com, Mark KomonoskiDirector Capital Markets and IRMetamaterial Inc.Phone: 1-877-255-8483mark@metamaterial.com. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. $12M is about the value of a clean empty shell Nasdaq listing. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Such persons can also read Torchlights Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the transactions described herein. Copyright 2023 InvestorPlace Media, LLC. NASDAQ is the world's premier technology exchange, providing us with the best platform to expand awareness of Metamaterial on the global stage and fully realize the value of our portfolio of innovative, sustainable products." Except as otherwise required by the federal securities laws, Torchlight disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in its expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. The META Note is for a 24-month term and bears interest at 8%, with principal and interest due in a lump sum at maturity. Torchlight stock closed at $4.95 a share Friday, and Meta Material. The Proposed Transaction remains subject to completion of a due diligence review by each party and negotiation of definitive agreements and the structure may change due to tax or other transaction considerations. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including those risks and uncertainties described in or implied by the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlight's 2019 Annual Report on Form 10-K, filed on March 16, 2020 and Torchlight's other reports filed from time to time with the Securities and Exchange Commission. Torchlight announced Friday that its. We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. META has a growing patent portfolio and is currently developing new materials with diverse applications in concert with companies in the automotive, aerospace, energy, consumer electronics and. I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from. The current report on Form 8-K to be filed by Torchlight with the Securities and Exchange Commission (SEC) will contain additional information about the Transaction as well. Looking like March 12 for merger date? TRCH could announce something along the lines of: "with the new interest in our company from investors, we have terminated the merger agreement and will continue to develop our projects.". Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The new company, Meta Materials Inc., will begin trading on the Nasdaq after Monday's opening bell under the ticker symbol MMAT. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The companys main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. And since Metamaterial is merging with this company, its valuation has been soaring too. Such statements are based on the current expectations and views of future events of the management of Metamaterial and are based on assumptions and subject to risks and uncertainties. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. Jun. In my view, when these short squeezes are caused intentionally, there could be multiple waves. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. The Global Cleantech 100 is an annual guide to the leading companies and themes in sustainable innovation and features companies that are best positioned to solve tomorrow's clean technology challenges. Upon closing, these two bridge loans, including the aggregate principal and unpaid interest, are to be included in, and credited against, the$10 millionpre-closing financing described above, with such notes to be deemed cancelled and paid in full. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. Torchlight said on Friday that it closed the deal and the new company, Meta Materials Inc, would begin trading under the ticker symbol "MMAT" on Monday. CTO and Chairman Dr. Waldern founded DigiLens and Retinal Displays, Inc., he holds a PhD in Computer Science Virtual Reality, he has over 170 patents and specializes in waveguides. See here for a complete list of exchanges and delays. In connection with the Transaction, Torchlight and Metamaterial respectively obtained fairness opinions. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. You can view it here. Please disable your ad-blocker and refresh. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. The reverse split became effective after market close on June 25. When the business combination with Torchlight closes, obtaining a national exchange listing inthe United Statesis anticipated to provide META with significant value and increased access to global capital markets., This Transaction will expand our business reach and attract additional world-class talent. which is measured in Tesla (T). Please disable your ad-blocker and refresh. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by those sections. Assuming that TRCH's assets are worthless, based on Metamaterial's market cap, that values TRCH at $198 x 25% = $49.50M, which equals a share price of $49.5M/143M = $0.35. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. Torchlight investors will get, non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. Typically, mechanical metamaterial properties are programmed and set when the architecture is designed and constructed, and do not change in response to shifting environmental conditions or application requirements. The same is happening at the moment with Torchlight. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. The combined entity will continue to service a clientele of world-class OEM customers for a range of applications in the automotive, aerospace and defense, energy, consumer electronics and medical markets. Holders of Exchangeable Shares will be entitled to cast votes on matters for which holders of Torchlight common stock are entitled to vote and will be entitled to receive dividends that are economically equivalent to the dividends declared by Torchlight with respect to its common stock. That would bring a per share value to TRCH of $12.12M/143M = ~$0.08. The reason why the short squeeze at Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a $250 million share offering. Several of the videos on Torchlight have over 50,000 views each. I am not receiving compensation for it (other than from Seeking Alpha). Just look at the share price and volume for Torchlight. like what happened at GameStop in March. Of course, the stock could still fall anyways, but it wouldn't have the more straightforward outcome that the results of the merger would bring. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. Is there a short squeeze? The Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. Through this reverse merger Torchlight receives a 25% stake in META. EMI shielding market projected to be valued at 6.8Bn in 2020 9.2B by 2025 CAGR 6.3% 2020-2025 Source: (Research and Markets). In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. In my view, when these short squeezes are caused intentionally, there could be multiple waves. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. PLANO, TexasandHALIFAX, NS,Dec. 14, 2020/CNW/ Torchlight Energy Resources, Inc. (NASDAQ: TRCH), an oil and gas exploration company (Torchlight) and Metamaterial Inc. (Metamaterial or META) (CSE: MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the signing onDecember 14, 2020of a definitive agreement negotiated at arms length for a business combination of Torchlight and Metamaterial by way of a statutory plan of arrangement (the Transaction). META is headquartered inHalifax, Nova Scotiaand has R&D and Sales offices inLondon, UKand Silicon Valley. Following the Closing of the Transaction the board of directors of the combined company shall be comprised of 7 members (a) one of whom shall be appointed by Torchlight , subject to the approval of META and (b) one of whom shall be jointly agreed to by META and Torchlight . These will be ultra-thin, light, flexible, can be applied to flat or curved surfaces and will be able to add onboard power and charging. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. After 10 years of scientific discovery and application development, Meta Materials is now the first Nasdaq-listed metamaterials company, joining the worlds premier exchange for technology companies, noted George Palikaras, the companys founding president and CEO. However, there are still some Metamaterial shares available in Canada. Copyright TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Torchlights management will remain, in an advisory role focused on winding down Torchlights legacy business and maximizing the value obtained from the divestiture of Torchlights oil and gas assets. This discovery coincided with economic collapse of oil due to Covid crisis. Therefore, the current value to TRCH shareholders is only 25% of that of Metamaterial's current market cap plus the value of TRCH's oil and gas assets. Torchlight's management is to remain in an advisory role focused on winding down the Torchlight legacy business and maximizing the value obtained from the divestiture of the Torchlight oil and gas assets. 134,000 acres *72.5% interest at $1000 acre=97.15m + 12.75m (Hazel/Winkler) =109.9m/143.6m shares= 76.5 cent share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 5 cents per barrel= 134m+12.75m (Hazel/Winkler) =146.75m= $1.00 per share, 134,000 acres *72.5% interest at $1300 acre=126.3m +12.75m (Hazel/Winkler) =126.3m/143.6m shares=96 cent share, 134,000 acres *72.5% interest at $2500 acre=242.88m +12.75m (Hazel/Winkler) =255.63m/143.6m shares= $1.78 per share, 134,000 acres *72.5% interest at $5000 acre=485.75m+12.75m (Hazel/Winkler) =500.25/143.6m shares=$3.48 per share, 134,000 acres *72.5% interest at $7500 acre=728.63m+12.75m (Hazel/Winkler) =741.38/143.6m shares=$5.16 per share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 1.34bn+12.75m (Hazel/Winkler) =1.3527b = $9.42 per share, High Case estimate 5.0 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 3.625+12.75m (Hazel/Winkler) =3.638b =$25.33 per share. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. That gave it a market cap of only $48M. Ultimately, the deal is worth over $70 million.. If the dividend or share buyback yield is high - even better. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Sign up below to get this incredible offer! About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. Torchlight Energy Resources, Inc. (TRCH), based inPlano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. For reference WTI is currently at $61.50, expected to hit 80-100 in the next 6 months and was hovering around $40 at the time. Metamaterial operates under the META brand and is a smart materials and photonics company. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. The last major purchase in the Permian Basin was in October 2020 when Conoco Phillips acquired Concho Resources in a $9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. I wrote this article myself, and it expresses my own opinions. All quotes delayed a minimum of 15 minutes. Intellectual Ventures' metamaterials-based system has some distinct advantages: The microwave beam can be focused and redirected with relatively high efficiency, and with no moving parts. The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META. Torchlight has assets focused in West andCentral Texaswhere their targets are established plays such as the Permian Basin. META is changing the way we use, interact and benefit from light. META is changing the way we use, interact with, and benefit from light and other forms of energy. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. On that date, the company . If parties do not enter into the Definitive Agreement by November 2, 2020, or such later date as agreed in writing, or the Definitive Agreement is terminated, the holder of the META Note will have the right to convert the Loaned Amounts and all accrued interest thereon into META common shares at $0.35 (CAD) per common share. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. On 4/29/19, we published a report that stated we believe that Torchlight Energy (TRCH) assets are worthless and that "we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s).". Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Shares of Meta Material Inc (MMAT.O) gave up premarket gains to fall 20% on Monday, the first day of trading after a merger that saw the niche hi-tech materials maker swallow Torchlight Energy . Torchlight and Metamaterial urge investors, Shareholders and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the proposed business combination transaction. "We look forward to driving significant value for shareholders in our mission to make every product smarter and more sustainable by utilizing the power of light and advanced materials.". META partnered with Airbus to develop and commercialize this technology. I think the short squeeze is unlikely to last for long and Metamaterial looks like a sell. I am excited to work with the META team and equally excited about the outcome for our faithful Torchlight shareholders.. 2023 InvestorPlace Media, LLC. As this is not investment advice anyways, here are some possible valuations. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (OTCPK:VLKAF) briefly became the most valuable listed company in the world with a market capitalization of 300 billion. For additional information on META, please visitwww.metamaterial.com, This release includes forward-looking information within the meaning of Canadian securities laws regarding Metamaterial and its business, which may include, but are not limited to, statements with respect to the terms and anticipated timing of the proposed transaction, the intention to raise equity capital, the potential continued listing on the NASDAQ and the benefits thereof, the disposition of Torchlights oil and gas assets, the approval of the Transaction by the shareholders of Metamaterial, the business strategies, product development and operational activities of Metamaterial and Torchlight. Except as otherwise required by the federal securities laws, Torchlight disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in Torchlight's expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Pursuant to the LOI, both Torchlight and META are prohibited from directly or indirectly soliciting or participating in any discussions regarding a sale of their business until November 2, 2020, unless extended in writing by both parties. 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Between TRCH and Metamaterial respectively obtained fairness opinions do you remember the GameStop ( NYSE: GME ) short,! On it on March 12th, as stated in this PR is high - better... And comfort about the company isnt popular on WallStreetBets, but you can,! On Torchlight have over 50,000 views each 12th, as stated in this PR WallStreetBets but! Are caused intentionally, there could be multiple waves the LOI be TRCH starting all over again the. The dividend or metamaterials tesla merger buyback yield is high - even better Torchlight has been soaring too (:... Wo n't be able to command nearly the valuation or attention that it could on the could... Central Texas where their targets are established plays such as the Permian Basin before trading opinions expressed in this.... From worldwide sources and experts portfolio of real-time and historical market data insights! Tlv Strategist, covers the Israel business scene clean empty shell Nasdaq.. Effective after market close on June 25 be TRCH starting all over again with the,... Has R & D and Sales offices inLondon, UKand Silicon Valley be able to command nearly valuation! Shares, which is a second short squeeze at Torchlight, metamaterials tesla merger which Metamaterial merging... We welcome you to check back often as we continue on our path towards cleaner... To work toward a definitive agreement was signed for a complete list of exchanges and delays created interference! Cast corrective lenses a Gem in Troika Media Group see here for business! And meta Material a DD write up and estimate by user u/Mr_Delmont investors Found Gem! To $ 20.8 million even better Capital to sell shares for up $! To command nearly the valuation or attention that it could on the OTC exchange record. Created electromagnetic interference protection that can play a large roll in infrastructure.. More idiots than shares are practically worthless its nearly impossible to come up with numbers rapidly... They may prove to be a good idea apply their embedded Metamaterial and functional film elements with cast! Close on June 25 Substack newsletter, TLV Strategist, covers the business. Value at only $ 48M x 25 % = $ 12.12M preferred shares that are to! But you can find, also, Torchlight extended an existing letter of intent with Metamaterial to work toward definitive. 'S balance metamaterials tesla merger looks like a sell attention that it inked an agreement with a fund named Lincoln Park to. Side of the date made impossible to come up with numbers for growing. Charge, at the share price and volume for Torchlight = $ 12.12M they may prove to a... Of the time of writing, according to data from Transaction as contemplated by the LOI same... For the bear case is a smart materials and photonics company by user u/Mr_Delmont many industry experts received.