Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 1 of 7 1 Jeffrey L. Hartman, Esq. Nevada Bar No. 1607 2 HARTMAN & HARTMAN 3 510 W. Plumb Lane, Suite B Reno, NV 89509 4 T: (775) 324-2800 F: (775) 324-1818 5 notices@bankruptcyreno.com 6 Attorney for Christina Lovato, Trustee 7 UNITED STATES BANKRUPTCY COURT 8 DISTRICT OF NEVADA 9 In re Case No.: 24-50792-gs (Chapter 7) 10 META MATERIALS INC., 11 Debtor. AMENDED DECLARATION OF CHRISTINA LOVATO IN SUPPORT OF 12 MOTION FOR ORDER AUTHORIZING SALE AND ASSIGNMENT OF 13 LITIGATION CLAIMS 14 15 Hearing Date: October 13, 2026 Hearing Time: 1:30 p.m. 16 17 18 SEE ATTACHED 19 20 21 22 23 24 25 26 27 28 Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 2 of 7 1 Jeffrey L. Hartman, Esq. – NSB #1607 Kent R. Robison, Esq. – NSB #1167 HARTMAN & HARTMAN ROBISON LAW GROUP 2 510 W. Plumb Lane, Suite B 71 Washington Street Reno, Nevada 89503 3 Reno, Nevada 89509 T: (775) 329-3151 T: (775) 324-2800 krobison@robison-law.com 4 F: (775) 324-1818 notices@bankruptcyreno.com 5 Clayton P. Brust, Esq. – NSB #5234 6 Hannah E. Winston, Esq. – NSB #14520 SBW LAW GROUP 7 3600 Mayberry Drive 8 Reno, Nevada 89509 T: (775) 299-4051 9 cbrust@sbwlawgroup.com hwinston@sbwlawgroup.com 10 11 Attorneys for Christina W. Lovato, Chapter 7 Trustee 12 UNITED STATES BANKRUPTCY COURT 13 DISTRICT OF NEVADA 14 In re Case No.: 24-50792-gs (Chapter 7) 15 META MATERIALS INC., 16 Debtor. 17 CHRISTINA W. LOVATO, Adversary No.: 26-05037-gs 18 Plaintiff, 19 v. AMENDED DECLARATION OF CHRISTINA LOVATO IN SUPPORT OF 20 AUTHENTIX, INC., a Delaware MOTION FOR ORDER AUTHORIZING corporation; AUTHENTIX SOLUTIONS SALE AND ASSIGNMENT OF LITIGATION 21 CANADA, INC., a British Columbia CLAIMS 22 corporation; and DOES I-V, Hearing Date: October 13, 2026 23 Defendants. Hearing Time: 1:30 p.m. 24 25 Christina W. Lovato, under penalty of perjury of the laws of the United States, declares: 26 1. I am the chapter 7 trustee for the estate of Meta Materials Inc. (“Meta” or “Estate”). 27 [ECF No. 14]. 28 1 Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 3 of 7 1 2. This Amended Declaration is provided in support of my Motion For Order 2 Authorizing Sale And Assignment Of Litigation Claims designated as [Adv. Nos: 26-05037 3 (“Authentix”), and 26-05038 (“24M”)]. The proposed purchaser is BaileyBridge, Inc., a Texas 4 corporation (“BaileyBridge” or “Purchaser”). The purchase price is $250,000 plus 20% of any net 5 recovery by the Purchaser after attorneys’ fees and costs. 6 3. Meta was a publicly traded company on Nasdaq with operations in Canada, 7 California and Maryland, as well as in the U.K. and Greece. The Schedules of Assets and 8 Liabilities disclosed that Meta owned 100% of the equity in nine separate subsidiaries. [ECF No. 9 5, page 4 of 24]. 10 4. As my administration of the case proceeded, I was able to recover certain insurance 11 premiums and sell tangible items of personal property. In consultation with counsel, I determined 12 that the Estate owned potential significant claims which held the possibility of substantial recovery 13 for creditors and, possibly, equity holders. The potential claims are in two separate categories: 14 claims against securities brokers and dealers for market manipulation, spoofing and naked short 15 selling; and voidable transfer claims under 11 U.S.C. §§ 544, 548, 550, and N.R.S. 112.010 et seq. 16 (“Avoidance Actions”). 17 5. I sought and obtained approval to employ contingent-fee based litigation counsel 18 to investigate and determine whether there is a factual and legal basis to pursue potential claims of 19 market manipulation, naked short selling and spoofing. On August 7, 2026, I filed a Class Action 20 adversary proceeding as Adv. No. 26-05036 (“Class Action”). 21 6. I also sought and obtained approval to employ separate litigation counsel, Robison 22 Law Group, and accounting specialists, to investigate and determine whether there is factual and 23 legal support to pursue the Avoidance Actions. 1 This task was complicated due to the inter- 24 relationship between the U.S. and Canadian entities as well as the challenge to locate 25 documentation pertinent to the inquiry. Following a lengthy analysis, which included, among other 26 27 1 28 For the potential Avoidance Actions, the Trustee engaged Robison Sharp Sullivan & Brust. As of January 1, 2026, coverage is by and between Robison Law Group and SBW Law Group. 2 Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 4 of 7 1 things, determinations related to solvency, I filed two adversary proceedings: 26-05037 2 (“Authentix”), and 26-05038 (“24M”). 3 7. I received an offer to acquire the Authentix and 24M Avoidance Actions. The 4 purchaser is BaileyBridge. The terms to acquire Authentix and 24M Avoidance Actions are 5 $250,000 payable after an Order approving this Motion is final and non-appealable, plus 20% of 6 net recovery on either or both claims after payment of attorney’s fees and expenses. A copy of the 7 Assignment of Litigation Claims Agreement (“Assignment”), is attached as Exhibit 1. Notably, 8 the Agreement includes an indemnity provision at Section 5.3. 9 8. BaileyBridge is owned and controlled by Greg McCabe. Mr. McCabe is one of the 10 largest shareholders of MMAT shares. As a result, I believe Mr. McCabe has an incentive to 11 successfully prosecute the Avoidance Actions. 12 9. On a separate matter, I have entered into a tolling agreement with Mr. McCabe 13 concerning transactions between Mr. McCabe and Meta in 2023, including his acquisition of Meta 14 common stock and his purchase of Meta’s secured lender position in certain Next Bridge 15 Hydrocarbons notes and related collateral (the “McCabe Tolling Agreement”). Separately, and 16 unrelated to those 2023 transactions, the earlier MMTLP spin-off resulted in shares of Next Bridge 17 Holdings going to a certain group of equity claimants in December 2022. In January 2024, McCabe 18 and Meta executed a Board-approved release agreement addressing the stock purchase 19 arrangement. Out of an abundance of caution, I have entered into the McCabe Tolling Agreement 20 to preserve any claims the Estate may hold against Mr. McCabe. I do not believe that the McCabe 21 Tolling Agreement creates a conflict and it is not material to the § 363 analysis. 22 10. Mr. McCabe has engaged the law firm of Cooper & Levenson to represent 23 BaileyBridge in connection with the proposed acquisition of the Avoidance Actions. 24 11. In the exercise of my business judgment and in consultation with my professionals, 25 I have concluded that the Assignment has the positive benefit for the Estate of recovering a 26 substantial portion of the investigatory fees and costs incurred in developing a very complex fact 27 scenario. Additionally, BaileyBridge will bear the fees and costs on a going-forward basis, 28 including but not limited to discovery and expert witness fees. In addition, in the event of a 3 Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 5 of 7 1 successful recovery, the Estate will share in 20% of the net recovery in either or both of the 2 Adversary Actions. 3 12. In the event the litigation proceeds to a successful conclusion, I will comply with 4 F.R.Bankr.P. 9019 for a determination that the resolution is fair and equitable. 5 13. I am also requesting the Court make a finding that the sale and assignment to Bailey 6 Bridge is made in good faith as contemplated by 11 U.S.C. § 363(m). I believe the requirements 7 for a finding of good faith are satisfied. As noted in ¶ 11, I believe the up-front acquisition price 8 of $250,000 is fair value. Next, the Agreement includes a potential 20% upside recovery at little 9 to no expense or risk to the Estate. My counsel, Robison Law Group will assist in the transition 10 of the supporting materials and analysis to Purchaser’s counsel. The transaction was negotiated at 11 arm’s length, with no prior relationship or undisclosed connections between BaileyBridge and me 12 that would suggest self-dealing. Fourth, there is no fraud, no collusion, nor any secret side deals, 13 and finally, the material terms of the Agreement are fully disclosed. Although I believe there is no 14 conflict, I have fully disclosed the existence and pendency of McCabe Tolling Agreement and Mr. 15 McCabe’s relationship to BaileyBridge. 16 DATED: September 22, 2026. 17 18 /s/ Christina W. Lovato Christina W. Lovato, Trustee/Plaintiff 19 20 21 22 23 24 25 26 27 28 4 Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 6 of 7 1 CERTIFICATE OF SERVICE 2 I certify that I am an employee of Hartman & Hartman, and that on September 22, 2026, I 3 caused to be served, the following document(s): 4 AMENDED DECLARATION OF CHRISTINA LOVATO IN SUPPORT OF MOTION FOR ORDER AUTHORIZING SALE AND ASSIGNMENT OF 5 LITIGATION 6 I caused to be served the above-named document(s) as indicated below: 7  a. Via ECF to: 8 x MICHAEL R. BRUNET mbrunet@cooperlevenson.com 9 x CLAYTON BRUST cbrust@sbwlawgroup.com, iesguerra@rssblaw.com 10 x DAVID D. BURNETT dburnett@schneiderwallace.com 11 x DAVID ERNESTO CHAVEZ chavezd@ballardspahr.com, 12 LitDocket_West@ballardspahr.com 13 x BRADLEY A. COSMAN Brad.Cosman@ashurstperkins.com 14 x JIMMY F. DAHU jdahu@mcdonaldcarano.com, sbettinger@mcdonaldcarano.com 15 x KAWA FOAD kfoad@kf-law.com 16 x JEFFREY L HARTMAN notices@bankruptcyreno.com, abg@bankruptcyreno.com 17 x MICHAEL R. HOGUE hoguem@gtlaw.com, michael-hogue- 18 0383@ecf.pacerpro.com;flintza@gtlaw.com;JavieAnne.Bauer@gtlaw.com;andersonel@ gtlaw.com;navarrom@gtlaw.com 19 x MATTHEW L. JOHNSON mjohnson@mjohnsonlaw.com, 20 annabelle@mjohnsonlaw.com;kristi@mjohnsonlaw.com;admin@mjohnsonlaw.com 21 x CHRISTINA W. LOVATO trusteelovato@att.net, NV26@ecfcbis.com 22 x DAVID S. NORRIS david.norris@squirepb.com, 23 tanya.skeet@squirepb.com,sarah.conley@squirepb.com,phx_dckt@squirepb.com 24 x TERESA M. PILATOWICZ tpilatowicz@gtg.legal, bknotices@gtg.legal 25 x JARROD L RICKARD jlr@semenzarickard.com, oak@semenzarickard.com,alb@semenzarickard.com 26 x KENT R ROBISON krobison@rssblaw.com, jferretto@rssblaw.com 27 x U.S. TRUSTEE - RN - 7 USTPRegion17.RE.ECF@usdoj.gov 28 5 Case 24-50792-gs Doc 2978 Entered 09/22/26 16:11:19 Page 7 of 7 1 x ABRAN E. VIGIL VigilA@ballardspahr.com, Docketclerk_lasvegas@ballardspahr.com 2 x MARK M. WEISENMILLER mark@abwfirm.com, mark-weisenmiller- 3 1991@ecf.pacerpro.com;weisenmiller.markm.b117998@notify.bestcase.com;melissa@a 4 bwfirm.com 5 x HANNAH E. WINSTON HWINSTON@SBWLAWGROUP.COM, cobrien@rssblaw.com 6 x RYAN J. WORKS rworks@mcdonaldcarano.com, 7 kkirn@mcdonaldcarano.com;bgrubb@mcdonaldcarano.com 8 x MATTHEW C. ZIRZOW mzirzow@lzlawnv.com, 9 hannah@lzlawnv.com;carey@lzlawnv.com;trish@lzlawnv.com;jennifer@lzlawnv.com;b chambliss@lzlawnv.com 10 11 I declare under penalty of perjury that the foregoing is true and correct. 12 DATED: September 22, 2026. 13 /s/ Angie Gerbig 14 Angie Gerbig 15 16 17 18 19 20 21 22 23 24 25 26 27 28 6