Emails now reveal bad actors were at play regarding Next Bridge’s lease deal, with CEO McCabe being tormented by “pathetic bottom feeders”.
Next Bridge Hydrocarbons, Inc. (“Next Bridge”) has been navigating turbulent waters following the recent decision by University Lands not to extend the Development Unit Agreement for its Orogrande asset, which expired on December 31, 2024.
This decision comes as a disappointment to the company, which had invested considerable effort into negotiations.
Disappointment and Determination
Greg McCabe, Chairman and CEO of Next Bridge, expressed his dismay at the decision, stating, “We are both dismayed and puzzled by this decision, despite having put forth what we believed to be a strong and fair proposal.”
The company has not agreed to the immediate termination of the Development Unit Agreement as sought by University Lands.
McCabe reassured shareholders that Next Bridge remains committed to moving forward, emphasizing the company’s efforts to diversify its portfolio beyond the Orogrande asset.
The Investor Analysis
In the wake of these developments, investors have begun to scrutinize the circumstances surrounding the negotiations.
A recent post on X (formerly Twitter) highlighted internal communications that suggest McCabe made extensive efforts to reach an agreement.
The investor pointed out that the emails reveal a concerted effort on McCabe’s part to salvage the deal, while also indicating that “trapped short investors” may have played a role in undermining the negotiations.
The investor’s comments reflect a growing concern within the retail investor community about transparency and accountability in the dealings between Next Bridge and University Lands.
The call to action is clear: stakeholders need to demand transparency from all parties involved.
Activist investor Plute has also reached out to make a difference any way possible.
Allegations of Manipulation
The situation has escalated, with allegations that certain parties have engaged in tactics aimed at discrediting Next Bridge and its leadership.
McCabe has publicly stated that the company has faced “short-and-distort” campaigns—tactics that involve spreading misinformation to manipulate stock prices.
He described the environment as one where some investors may have attempted to bankrupt Next Bridge to escape their financial exposure.
The CEO’s alarming account includes threats against his family and a campaign of intimidation against his team.
He noted a troubling incident where threats were directed at his daughter-in-law, highlighting the extent to which these “pathetic bottom feeders” have gone to undermine the company’s reputation.
“The board and I made this decision to go private in an effort to escape a broken system that encourages the destruction of public companies via short-and-distort campaigns.
We have been battling these attacks for the last five years.
Our very act of going private has trapped some bad actors with significant financial exposure.
Oddly, it appears they believe that their only solution is to bankrupt Next Bridge to make their problems go away.
In an effort to crush Next Bridge, these pathetic bottom feeders have put on a full fledged attack against our company, the board, and the management.
These attacks started with a vicious social media smear campaign and frivolous lawsuits, but have now escalated to multiple anonymous threats via texts and emails.
They crossed an unforgivable line when they sent a threatening email about me to my daughter-in-law at the private school where she teaches, and they had the audacity to copy every member of the faculty.
My wife taught at this school for 20 years, all four of our children graduated from there, and now two of my grandchildren attend.”
Related: A Lawsuit Now Urges DOJ To Investigate SEC, FINRA, DTCC
A Call for Action
As the situation unfolds, it is imperative that the truth comes to light.
Investors and stakeholders are urged to share their findings with Congress and regulatory bodies such as the SEC and FINRA.
Transparency is fundamental to restoring trust in the market, and any attempts to manipulate or misrepresent a company’s value must be thoroughly investigated.
Next Bridge Hydrocarbons is at a crossroads.
While the company has faced significant challenges with University Lands, it is also taking steps to expand and diversify its operations.
The board’s decision to transition from a public to a private company underscores its commitment to shielding itself from a system that enables predatory practices against public firms.
The unfolding saga of Next Bridge Hydrocarbons serves as a stark reminder of the complexities and challenges facing companies in the oil and gas sector.
It also highlights the importance of transparency and accountability in corporate governance, especially in an environment where misinformation can have dire consequences for both companies and their investors.
As Next Bridge navigates this difficult period, the focus must remain on ensuring that all stakeholders have access to accurate information and that any attempts to undermine the company are met with scrutiny and accountability.
The truth will ultimately prevail, but it requires collective action from investors, regulators, and the broader financial community to ensure a fair and transparent market.
This is a developing story — read Daily Market News for more updates and developments like this.
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