HNRC Targets up Listing to NYSE / NASDAQ

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) is targeting an up listing to NYSE or NASDAQ by Q4 2021, anticipating a market cap exceeding $50 million and a minimum bid price of $4.00 per share. The company expects total revenues of $23 million and earnings of $12 million for the year ending December 31, 2021, with forward earnings per share projected at $0.77. HNRC aims to realize assets worth $9.67 per share for shareholders.

Positive

• Targeting up listing to NYSE or NASDAQ by Q4 2021.
• Projected market cap exceeding $50 million.
• Anticipated revenue of $23 million for 2021.
• Projected earnings of $12 million for 2021.
• Forward earnings per share estimate of $0.77.

Negative

• None.

HOUSTON, June 15, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") confirmed today that it is targeting up listing to either the NYSE or NASDAQ markets in the fourth quarter of this year.

The Company anticipates reaching a Market Capitalization in excess of $50 million dollars, with a minimum bid price of $4.00 per share, in addition to meeting all the other minimum requirements for the NASDAQ or NYSE listing.

The Company has previously announced that it intends to focus on realizing the value on the total of $9.67 per share in assets held by its subsidiaries for the benefit of the shareholders. 

The company projects total combined revenues of $23 million and $12 million in earnings for the year ending December 31, 2021. The forward earnings per share are projected to be $0.77c per share. According to industry research, the S&P 500 Integrated Oil & Gas Index, forward earnings, & valuation, between 8x and 14x forward earnings. This would imply a target value for HNRC of $6.16 per share and $10.78 per share.

The company projects it will meet the NYSE or NASDAQ listing requirements providing for it to trade on either of the exchanges in the fourth quarter of 2021.

HNRC is a diversified holding company that has two subsidiaries, Houston Natural Resources, Inc ("HNRI") and Worldwide Diversified Holdings, Inc ("WDHI"). HNRI owns oil and gas properties and a waste-water treatment plant. WDHI has business operations that provide products & services in the Information Technology & Healthcare markets. 

About Houston Natural Resources Corp

Houston Natural Resources Corp (www.HoustonNaturalResources.com) (OTC:HNRC). The Company is dedicated to increasing shareholder value through developing natural resources with state-of-the-art innovative technologies in tandem with sustainable environmental services of toxic oil field waste disposal and recycling that are environmentally safe and socially responsible. 

About Worldwide Diversified Holdings, Inc.

Worldwide Diversified Holdings, Inc.(www.wdhinc.net). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in 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@HoustonNaturalResources.com   
Houston Texas USA.
+1-757-707-4563

View original content:http://www.prnewswire.com/news-releases/hnrc-targets-up-listing-to-nyse--nasdaq-301312877.html

SOURCE Houston Natural Resources Corp.

FAQ

What is Houston Natural Resources Corp.'s target market listing date?

Houston Natural Resources Corp. is targeting an up listing to NYSE or NASDAQ in the fourth quarter of 2021.

What is the projected market capitalization for HNRC?

HNRC anticipates a market capitalization in excess of $50 million.

What are HNRC's projected revenues for 2021?

HNRC projects total revenues of $23 million for the year ending December 31, 2021.

What is the expected earnings per share for HNRC in 2021?

The forward earnings per share for HNRC are projected to be $0.77.

What asset value does HNRC aim to realize for shareholders?

HNRC aims to realize assets valued at $9.67 per share for the benefit of its shareholders.