Is Meta Materials stock halal to invest in?

Company Name
Company Symbol
Exchange
Meta Materials
MMAT
NASDAQ
MMAT
Halal
Meta Materials
NASDAQ

Warning: The result may change based on other methodologies. As of the recent update on Tuesday 7th of February 2023 , is considered as Halal based on FTSE methodology. To access full report and unlock the detailed results with associated ratios for 5 halal investment methodologies, you can click below.

Detailed report based on FTSE methodology

Activity filter

Main Activity
Activity test result
Electronic Equipment & Parts
PASS

Meta Materials

Torchlight Energy Resources, Inc. (Torchlight) is an energy company. The Company is engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. The Company is primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. Torchlight has interests in four oil and gas projects: the Orogrande Project in Hudspeth County, Texas; the Hazel Project in Sterling, Tom Green, and Irion Counties, Texas; the Winkler Project in Winkler County, Texas, and the Hunton wells in partnership with Husky in Central Oklahoma. The Company operates its business through its subsidiaries, including Torchlight Energy, Inc., Torchlight Energy Operating, LLC, Hudspeth Oil Corporation, Torchlight Hazel, LLC and Warwink Properties, LLC.

Financial filter

Debt test

Total Debt
Interest free debt
Adjusted debt level
Total Asset
Debt Ratio
PASS or FAIL
$78,932,490
0
$78,932,490
$482,650,000
16.35%
PASS

Cash test

Cash
Cash Eq.
Short Term Investment
Total Asset
Cash & Eq. ratio
PASS or FAIL
$29,750,000
$30,610,000
$1,180,000
$482,650,000
6.59%
PASS

Acid test

Cash
Cash Eq.
Net Accounts Receivables
Total Asset
Quick ratio
PASS or FAIL
$29,750,000
$30,610,000
$1,980,000
$482,650,000
12.92%
PASS

Non permissible income filter

Net Interest Income (Expense) as non-Operating

Total Non permissible and doubtful income
Total revenue
Non permissible and doubtful income ratio
PASS or FAIL
-$20,000
$2,460,000
-0.81%
PASS