Fri, May 9, 7:50 PM (6 days ago)
**Houston American Energy Corp. (HUSA) Q1 2025 Financial Summary** **Financial Health and Performance:** Houston American Energy Corp. (HUSA) reported a challenging Q1 2025, with a net loss of $1,032,483,000 compared to a net loss of $15,699,000 in Q1 2024. Revenue from oil and gas operations decreased by 31% to $102,345,000, primarily due to one well being shut down for a month. Operating expenses decreased by 47% to $76,025,000, while general and administrative expenses increased significantly to $1,052,361,000 due to professional fees related to the proposed acquisition of Abundia Global Impact Group. **Profit Margins and Cash Flow:** The company's loss from operations was $1,061,983,000, with a negative operating cash flow of $1,311,230,000. Despite the net loss, the company had a positive cash flow from financing activities of $3,819,495,000, primarily from the sale of 2,600,000 shares of common stock. **Earnings Changes and Trends:** The basic and diluted loss per common share was $0.07, compared to $0.00 in Q1 2024. The company's stock-based compensation expense decreased to $14,057,000, largely due to a decline in the company's share price. **Future Operations and Uncertainties:** HUSA is pursuing the acquisition of Abundia Global Impact Group, which is expected to close in Q2 2025. The company may need additional funding for future drilling and acquisition plans, but there are no commitments for such funding. The company's internal control over financial reporting was deemed ineffective due to the CEO's assumption of the principal financial officer's duties and the lack of segregation of duties. **Key Metrics:** - **Revenue:** $102,345,000 (down 31% YoY) - **Net Loss:** $1,032,483,000 (up from $15,699,000) - **Operating Cash Flow:** -$1,311,230,000 - **Financing Cash Flow:** $3,819,495,000 - **Loss per Share:** $0.07 - **Cash Balance:** $5,308,416,000 (up from $4,059,182,000) **Ticker:** HUSA