 Meta Materials NASDAQ: MMAT stock is in full focus today, as the company recently announced that its board had approved a 100 common stock distribution of wholly-owned subsidiary Next Bridge Hydrocarbons to shareholders of Meta Materials Preferred Shares OTCMKTS: MMTLP . Following completion of the spinoff, Next Bridge will be an independent public reporting company while shares of the company will not be publicly traded or eligible for electronic transfer through any clearing system, such as the Depository Trust Company DTC book-entry system. 