Significant Growth Reported in Total Revenue (41%) , Significant Increase in Operating Earnings (123%)
Houston Natural Resources Corp. (OTC: HNRC) (“HNR or the Company”) announced today record results for the quarter ending March 31, 2022.
Financial Results: Three Months March 31, 2022 vs Three Months March 31, 2021
Total revenue for three months was $3,562,169 vs $2,518,986, an increase of 41%Total earnings for three months were $2,062,075 vs $920,866, an increase of 123%Total assets for the period were $73,973,967 vs $72,616,087, an increase of 2%Earnings per share for three months was $0.08c vs $0.06c, an increase of 33%The company has a net asset value of $3.03 per share as of March 31, 2022.
Frank Kristan, President of Houston Natural Resources Corp commented that:
“Our growth is continuing with strong results for the quarter ending March 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 is focused on sponsoring a new special purpose acquisition corporation in each quarter this year. This will provide dividends in the future. The company intends to make acquisitions of water treatment plants and oil and gas properties.”
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.