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 by 91% to $18,217,737, while total earnings jumped 192% to $6,307,247. The company’s earnings per share increased 84% to $0.35, with a net asset value of $3.46 per share. The growth was attributed to enhanced services to its portfolio companies. Additionally, HNRC successfully sponsored an $86 million NYSE listing of an energy SPAC and anticipates consistent growth in 2022.

Positive

• Total revenue increased by 91% to $18,217,737.
• Total earnings rose by 192% to $6,307,247.
• Earnings per share increased by 84% to $0.35.
• Net asset value per share is $3.46.
• Successful sponsorship of an $86 million NYSE listing for an energy SPAC.

Negative

• None.

HOUSTON, TX, 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 $6,307,247  vs  $2,153,149, an increase of 192%
• 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.

Contact:

Houston Natural Resources Corp
E-mail: frank@hnrcholdings.com  
+1 757-707-4563
Houston Texas USA.

 

View original content:https://www.prnewswire.com/news-releases/hnrc-reports-record-results-for-period-ending-december-31-2021-301489808.html

SOURCE Houston Natural Resources Corp.

FAQ

What were Houston Natural Resources Corp's total revenue and earnings for 2021?

For the year ending December 31, 2021, total revenue was $18,217,737 and total earnings were $6,307,247.

How did HNRC's earnings per share change in 2021?

Earnings per share for HNRC increased by 84% to $0.35 for the year ending December 31, 2021.

What was the net asset value per share for HNRC as of December 31, 2021?

The net asset value per share for HNRC was $3.46 as of December 31, 2021.

What major financial event did HNRC sponsor recently?

HNRC sponsored a successful $86 million NYSE listing of an energy-focused special purpose acquisition corporation.

What growth expectations does HNRC have for 2022?

HNRC anticipates consistent growth in revenue and profit for 2022.