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$MMAT ⚖️ TRUSTEE v. EQUINITI — $64,174.86 PLUS INTEREST SOUGHT 🏛️ U.S. Bankruptcy Court, District of Nevada 👨‍⚖️ Judge Gary Spraker 📁 Bankruptcy: 24-50792-gs 📂 Adversary proceeding: 26-05029-gs 📅 Docket reviewed through November 4, 2026. 📄 DOC. 1 — COMPLAINT FILED AUGUST 5, 2026 Trustee Christina Lovato seeks repayment of $64,174.86 that Meta allegedly paid Equiniti on July 18, 2024, for “investor related expenses”—22 days before Meta filed bankruptcy. The trustee alleges the payment covered an existing debt, occurred while Meta was insolvent, and gave Equiniti more than it would have received through Chapter 7. 💰 WHAT DOES THE TRUSTEE WANT? ▪️ Declare the payment an avoidable preferential transfer. ▪️ Order Equiniti to return $64,174.86 to the estate. ▪️ Award interest and enter judgment. 📚 PLAIN ENGLISH A preference claim seeks to recover certain payments made shortly before bankruptcy so the money can be distributed under bankruptcy rules. Even a legitimate bill payment can potentially be recoverable. This claim does not itself establish fraud. 📂 WHY A SEPARATE CASE NUMBER? An adversary proceeding is a separate lawsuit within the bankruptcy, with its own complaint, summons and docket. That is standard procedure for this type of recovery claim. 🗓️ WHAT HAS HAPPENED? 📌 AUG. 5 — DOC. 1: Complaint filed. 📌 AUG. 10 — DOC. 4: Summons issued. 📌 AUG. 12 — Equiniti served by mail, according to the certificate. Proof filed AUG. 13 as DOC. 5. 📌 SEPT. 17 — DOC. 6: Scheduling conference continued to October 22. 📌 OCT. 22 — DOC. 8: Hearing continued to November 19. Minute entry entered October 23. 📌 OCT. 23 — DOC. 7: Trustee files a NOTICE OF INTENT TO TAKE DEFAULT, stating Equiniti has not answered or otherwise responded. ⏰ NOVEMBER 18, 2026 — RESPONSE DEADLINE The notice warns that the trustee will pursue default unless Equiniti files and serves an answer or another responsive pleading by this date. ⚖️ NOVEMBER 19, 2026 — STATUS HEARING 🕜 1:30 p.m. Pacific / 4:30 p.m. Eastern 💻 Zoom Video 📄 Docket entry 8. This is listed as a STATUS HEARING, not a default-judgment hearing. ❓ WHY ISN’T EQUINITI RESPONDING? Interesting question—but the docket does not explain why. Possible explanations include an internal routing problem, a missed deadline, settlement discussions outside the docket, or a decision about defense costs. These are possibilities only, not established facts. Equiniti may also have defenses depending on the payment’s circumstances. 🔎 WHAT STANDS OUT? The supplied November 4 docket shows no answer, entry of default, or default judgment. The trustee’s November 18 deadline falls immediately before the next status hearing. A default warning is not a judgment, and a judgment would not itself guarantee collection. 📌 This complaint seeks repayment—not trading records or shareholder lists. Any recovery goes to the bankruptcy estate, not automatically to shareholders. ⚠️ Allegations are not court findings. Informational summary with clearly identified speculation. Not legal advice.

MMAT 🦋 MMTLP 🛢️ NWBO 🧬 Upcoming Dates & Docket Watch

📊 $MMAT | ⚖️In re Meta Materials Inc. Chapter 7 bankruptcy 🗄️Case No. 24-50792-gs 📆Filed September 15, 2026 ⚠️Not legal advice. The trustee is asking the court to approve the sale of two lawsuits involving alleged avoidable transfers—the Authentix and 24M cases. This proposal does not include the separate market-manipulation class action against Citadel, Virtu, and Anson. The sale has not been approved yet. 💰 Doc. 2966 — Trustee’s Motion for Order Authorizing Sale and Assignment of Litigation Claims Trustee Christina Lovato proposes selling the Authentix and 24M claims to BaileyBridge, Inc., owned and controlled by Greg McCabe, for $250,000 upfront plus 20% of any recovery remaining after litigation costs. BaileyBridge would pay the future costs of pursuing the cases. 🔎 Significant disclosure: Lovato also has a separate tolling agreement with McCabe concerning certain 2023 transactions. In plain terms, it preserves time for the estate to consider any claims it may have against him. She says she does not believe it creates a conflict. 📄 Doc. 2967 — Declaration of Christina Lovato in Support of the Motion Lovato gives her sworn reasons for supporting the sale. She says the two cases took substantial investigation, and McCabe’s large MMAT shareholding gives him an incentive to pursue them. She confirms that the securities-trading class action is a separate set of claims. 📝 Doc. 2967-1 — Exhibit 1, Assignment of Litigation Claims Agreement If the court approves the deal, BaileyBridge would control how the Authentix and 24M claims are pursued, settled, or appealed. The estate’s 20% share is calculated after reasonable, documented legal and other prosecution expenses—not from the gross recovery. ⏳ The $250,000 would be due within 20 days after a final, nonappealable approval order. The copy attached to the filing has blank execution dates and signature lines. 🗓️ Doc. 2968 — Notice of Hearing on the Trustee’s Motion Judge Gary Spraker has scheduled a remote hearing for October 13, 2026, at 1:30 p.m. Anyone opposing the motion must file and serve a written response at least 14 days beforehand—ordinarily September 29, 2026, unless an exception applies. 👀 What to watch: Whether the court finds the price and the estate’s retained 20% interest fair, particularly in light of the disclosed McCabe tolling agreement. These filings state the trustee’s proposal; they are not a ruling on the sale or proof that either lawsuit will succeed. dropbox.com/scl/fi/1yqgpjagl… dropbox.com/scl/fi/b6er0bvpu… dropbox.com/scl/fi/obfcoj2d1… dropbox.com/scl/fi/bqupi9mb8…