HNRC PROJECTS STRONG FIRST QUARTER EARNINGS
HOUSTON, April 4, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that it expects to report strong results for the first quarter ending March 31, 2022.
The company is projecting $20 million in revenue and $10m in EBITDA for the year ending December 31,2022 with the first quarter projected to be $5 million in revenue and $2.5m in EBITDA. The company has historically been increasing revenues over the last three years. This is been due to increase in revenues from its portfolio companies and acquisitions.
The company's revenues have increased by more than 91% to $18,217.737 over the last year from the previous year and net income increasing by more than 157% to $7,636,830.
The company's net assets have increased 2% to $74,251,027 over the last year. The company's net asset value is $3.46 per share for the period ending December 31, 2021. The company recently announced a letter of intent to acquire Cunningham Energy, which would result in a significant increase in the company's assets for the year ending December 31,2022.
The company is planning on applying for listing on the OTCQB in the second quarter. It has engaged auditors Sadler Gibbs and the first year of Worldwide Diversified Holdings, Inc has been completed and they are working on the second year. The listing requirements include two-year audited statements.
The company sponsored a successful $86 million NYSE listing of an energy focused special purpose acquisition corporation during the first quarter of 2022. This will result in a dividend to its shareholders after the lock up period has expired.
The company is evaluating sponsoring other energy focused special purpose acquisition corporation and expects a second energy focused special purpose to be completed in the second quarter. This would also result in an additional dividend to the shareholders.
About Houston Natural Resources Corp
Houston Natural Resources Corp (www.hnrcholdings.com) (OTC: HNRC). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in energy, information technology and healthcare.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
Houston Natural Resources Corp
Houston Texas USA.
Phone: (757) 707-4563
SOURCE Houston Natural Resources Corp.