Next Bridge Hydrocarbons Faces Challenges in Engaging Federal Securities Regulators

In a recent update, Next Bridge Hydrocarbons, Inc. has reported that they are encountering difficulties in their ongoing attempts to engage federal regulators. These challenges have spanned over a period of more than three years, during which the company has sought direct dialogue about serious concerns related to the FINRA U3 halt of MMTLP shares. This halt has caused significant discrepancies in share distributions, affecting many shareholders.

Last month, on August 7, 2026, the Chairman and CEO, Greg McCabe, reached out to David Woodcock, the newly appointed director of the SEC's Division of Enforcement. In this correspondence, McCabe expressed the company's desire to present what they believe to be compelling evidence that unauthorized shares of Next Bridge were being generated by U.S. broker-dealers. Despite requesting feedback by August 14, 2026, McCabe noted that no response has yet been received, nor has any meeting been arranged.

Following this, on August 14, 2026, McCabe also contacted Robert Colby of FINRA. He provided copies of the previous correspondence with the SEC and again pushed for direct communication. His message emphasized the need to address the broker-dealers at the center of the company's ongoing concerns, which fall under FINRA's regulatory oversight. However, similar to the SEC outreach, this attempt has also not yielded a response.

Both of these letters have been made publicly available for download and view on the company's website. More importantly, Next Bridge conveyed that while they will explore all legal routes available to them, their preference remains to find cooperative solutions with regulators. They aim to rectify what they perceive as a substantial miscarriage of justice and the prolonged inaction that has characterized their current situation.

McCabe expressed deep frustration, stating, “I am deeply troubled that our system continues to turn a blind eye to an issue affecting tens of thousands of investors. My message remains exactly as it was on day one—I am here to help. We are asking for nothing more than a seat at the table, an honest examination of the facts, and a path toward resolution that is fair to all parties.”

Next Bridge Hydrocarbons operates as a public reporting entity in the energy sector, focusing on acquiring and developing oil and natural gas properties primarily within the United States. Their operations include minor interests in Texas’ Midland Basin and exploration leaseholds in the Gulf Coast area of Louisiana.

The future looks uncertain as they continue pressing for dialogue, underscoring the pressing need for clarity and resolution in a matter that has significant implications for investors. McCabe’s comments reflect the company’s determination to advocate for their shareholders, ensuring that their voices are heard in the regulatory landscape.

For further updates, interested parties can follow their developments through their official website or social media channels. The company remains committed to transparent communication with stakeholders and is preparing for any necessary actions to advocate for their interests in this evolving situation.