Meanwhile, the laser protection segment does exist, but just barely. Like solar, there’s little evidence that a material business or notable technology ever existed. Meta’s solar efforts are still portrayed on its website as “early stage” nearly ten years – and zero results – after they began, while the LED lighting business mysteriously disappeared in 2020. Lockheed’s “investment” was booked as deferred revenue and conveniently accounted for 70% of Meta’s revenues between 2017-2020. In the solar business, Meta started by pretending it could double solar cell efficiency, proceeded to deceptively use stock photos to depict products “in the final stage of development,” and then took investment funding from Lockheed Martin through a segment it later disclosed had already ceased activity at the time. From the archived records of Meta’s websites, public information concerning its finances and research activity, and the securities filings of recent years, a clear picture emerges: Meta has habitually made outlandish and misleading claims about the feasibility, development, and commercial potential of various technologies only to repeatedly move the goalposts or retrospectively alter its claims, often just quietly dropping entire projects they had previously touted as pivotal.įounded in 2011, Meta first claimed it was developing transparent thin films (TTFs) for three end markets: solar cells, LED lighting, and laser protection. The company is a collection of disjointed and failed laboratory experiments designed, in our opinion, to fuel a stock promotion scheme. We are short shares of Meta Materials, a $1 billion market cap company whose business is comprised of a whole lot of nothing: no real revenue, no promising technologies, undeveloped products, no track record of achievement.
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