HNRC PROJECTS STRONG FIRST QUARTER
EARNINGS
HOUSTON, TX -- April 4, 2022 --
InvestorsHub NewsWire -- 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.
FORWARD-LOOKING
STATEMENTS:
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.
Contact:
Houston Natural Resources Corp
E-mail: frank@hnrcholdings.com
Houston Texas USA.
Phone: (757) 707-4563
