HNRC REPORTS RECORD RESULTS FOR PERIOD ENDING DECEMBER 31, 2021

Rhea-AI Summary

Houston Natural Resources Corp (OTC: HNRC) reported record financial results for the year ending December 31, 2021. Total revenue surged 91% to $18,217,737, while total earnings soared 157% to $7,636,830. The company’s earnings per share rose 84%, reaching $0.35. Total assets increased by 2% to $74,251,027. President Frank Kristan highlighted the growth attributed to expanded services for portfolio companies and mentioned a successful $86 million NYSE listing of an energy-focused SPAC. The company expects consistent growth in 2022, with plans to explore further acquisitions.

Positive

• Total revenue increased by 91% to $18,217,737.
• Total earnings rose by 157% to $7,636,830.
• Earnings per share increased by 84% to $0.35.
• Total assets grew by 2% to $74,251,027.
• Successful $86 million NYSE listing of an energy-focused SPAC.

Negative

• None.

HOUSTON, Feb. 24, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today record results for the year ending December 31, 2021. 

Financial Results: Twelve Months December 31, 2021 vs Twelve Months December 31, 2020

• Total revenue for twelve months was $18,217,737 vs $9,523,634, an increase of  91%
• Total earnings for twelve months were $7,636,830 vs $2,973,320, an increase of 157%
• Total assets for twelve months were $74,251,027 vs $72,514,735, an increase of 2%
• Earnings per share for twelve months was $0.35c vs $0.19c, an increase of 84%
• The company has a net asset value of $3.46 per share as of December 31, 2021.

Frank Kristan, President of Houston Natural Resources Corp commented that:

"We are delighted that our growth is continuing with strong results for the year ending December 31,2022. The company's increase in revenues and earnings has been due to an increase in services it provides to its portfolio companies. The company sponsored a successful $86 million NYSE listing of an energy focused special purpose acquisition corporation this month. We anticipate consistent growth from revenue and profit in 2022. The company is evaluating sponsoring other energy focused special purpose acquisition corporations in addition to water treatment plants, oil and gas and other water treatment technology acquisitions."

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.

View original content:https://www.prnewswire.com/news-releases/hnrc-reports-record-results-for-period-ending-december-31-2021-301490080.html

SOURCE Houston Natural Resources Corp

FAQ

What were the total revenues for Houston Natural Resources Corp in 2021?

Houston Natural Resources Corp reported total revenues of $18,217,737 for the year ending December 31, 2021.

How much did earnings increase for HNRC in 2021?

Earnings for Houston Natural Resources Corp increased by 157% to $7,636,830 in 2021.

What is the earnings per share for HNRC as of December 31, 2021?

As of December 31, 2021, the earnings per share for Houston Natural Resources Corp was $0.35.

What successful financial event did HNRC achieve recently?

Houston Natural Resources Corp successfully sponsored an $86 million NYSE listing of an energy-focused special purpose acquisition corporation.

What growth is expected for HNRC in 2022?

Houston Natural Resources Corp anticipates consistent revenue and profit growth in 2022.