2 Feb 2017capital raising announcement▼ Bad
Houston American raised $1.2 million selling 12%-dividend Series A convertible preferred stock, a high-cost financing typical of the funding strain the company faced through this period.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Jan 2017material agreement▲ GoodMajor
Houston American agreed to buy a 25% working interest in about 800 acres (the Johnson and O'Brien leases in Reeves County, Texas) from Founders Oil and Gas III for $1.1 million, with Founders operating -- the company's first move into the Permian Basin, diversifying beyond Colombia.
27 Sept 2016listing compliance notice▼ BadMajor
Houston American missed the September 19, 2016 deadline to fix its stock-price deficiency; NYSE MKT granted an extension to January 3, 2017.
1 July 2016material agreement termination▼ Bad
Houston American terminated its subscription agreement to buy 12.5% of Tamboran Resources for $1,000,000, effective June 30, 2016, after Tamboran said it had failed to satisfy certain closing conditions.
6 June 2016listing compliance notice● Neutral
NYSE MKT accepted Houston American's plan to regain compliance with the stockholders'-equity standard, extending the cure period to September 2017; the separate low-price deadline stayed at September 19, 2016.
22 Mar 2016listing compliance notice▼ BadMajor
NYSE MKT notified Houston American it had fallen out of compliance on stockholders' equity (only $5.5 million against a required $6 million, given five straight years of losses) and flagged its stock price as too low for a sustained period, requiring a reverse split or price recovery by September 2016 -- the start of a listing-standards struggle that would run for years.
25 Feb 2016material agreement● Neutral
Houston American agreed to buy a 12.5% equity stake in Tamboran Resources Limited, an Australian shale-gas company, for $1 million, with anti-dilution top-up rights -- contingent on Tamboran itself raising a minimum of additional outside capital.
3 Oct 2012material agreement▼ BadMajor
Houston American raised about $10 million in a unit offering (14.8 million units at $0.675/unit) through C.K. Cooper -- a per-unit price roughly a third of May's $2.12 offering, reflecting how far the stock had fallen after the Cachirre and Tamandua drilling setbacks.
2 July 2012listing compliance notice● Neutral
NYSE MKT warned Houston American it was out of compliance on board-independence and audit-committee-size requirements after a director's resignation; the company cured the deficiency the same day by appointing Keith Grimes to the board and audit committee.
28 June 2012well test result● NeutralMajor
The Cachirre #1 well (drilled to 9,486 feet) became a point of dispute among partners: Houston American elected to test the C-9 sand at its own sole risk after partners SK Innovation and Gulf United Energy wanted to abandon the well, having deemed the other objective sands non-productive. (Originally tagged production_update, but no production figures appear -- this is a well test, not established production -- corrected to well_test_result.)
3 May 2012material agreement▲ GoodMajor
Houston American raised about $13.1 million in a registered direct unit offering (shares plus warrants) at $2.12/unit through Canaccord Genuity and Pareto Securities -- continued funding for Colombian development.
5 Oct 2011drilling progress report● NeutralMajor
Houston American's first well on the new CPO-4 block, Tamandua #1, ran into serious drilling trouble -- a strong hydrocarbon kick forced a shut-in, and stuck drill pipe later forced a sidetrack -- but the strong shows of oil and gas in the target C-7 sand were seen as an encouraging validation of the block's prospectivity despite the setbacks.
26 July 2010listing compliance notice▲ GoodMajor
the New York Stock Exchange certified ABUNDIA GLOBAL IMPACT GROUP, INC.'s securities for listing, clearing them to begin trading.
26 July 2010listing compliance notice▼ BadMajor
ABUNDIA GLOBAL IMPACT GROUP, INC.'s securities were notified for removal from listing and registration on its exchange.
16 July 2010listing compliance notice▲ Good
Houston American gave notice that it would voluntarily move its listing from the Nasdaq Global Market to NYSE Amex, with trading expected to start July 27, 2010 under the same HUSA symbol. It cited added visibility, lower volatility, better liquidity and a designated market maker.
3 Dec 2009material agreement▲ GoodMajor
Houston American agreed to place up to 3 million shares at $4.68 each in a registered direct offering, for gross proceeds of about $14 million and expected net proceeds of about $13.3 million. The money was intended for general working capital, and Global Hunter Securities led the placement agents.
16 Oct 2009farm in farm out agreement▲ GoodMajor
Houston American finalized a Farmout Agreement and Joint Operating Agreement with SK Energy for the CPO-4 block (about 345,000 acres in Colombia's Llanos Basin), earning a 25% interest by paying 12.5% of seismic costs and 25% of other costs, after Colombia's hydrocarbons regulator approved the assignment -- a second major Colombian exploration block alongside Hupecol/Tambaqui. (Originally tagged material_agreement, but the filing documents entry into a farmout/JOA earning arrangement -- corrected here.)
5 Feb 2009material agreement● NeutralMajor
Houston American agreed to provide up to $300,000 in bankruptcy debtor-in-possession financing to Yazoo Pipeline, Sterling Exploration & Production and Matagorda Operating Company, with an eye toward buying the debtors' seismic data and other oil and gas assets out of Chapter 11 for up to $5.6 million -- a distressed-asset acquisition play, contingent on bankruptcy court approval.
22 Jan 2009auditor change● Neutral
Houston American switched auditors again, from Malone & Bailey to GBH CPAs, following the same audit partner between firms; Malone & Bailey had flagged a material weakness in internal controls for FY2007.
3 July 2007listing compliance notice▲ GoodMajor
Nasdaq certified ABUNDIA GLOBAL IMPACT GROUP, INC.'s securities for listing, clearing them to begin trading.
3 July 2007listing compliance notice▼ BadMajor
ABUNDIA GLOBAL IMPACT GROUP, INC.'s securities were notified for removal from listing and registration on its exchange.
22 June 2007listing compliance notice▲ Good
Houston American voluntarily moved its stock listing from AMEX to the Nasdaq Capital Market, adopting the ticker "HUSA" -- an uplisting, not a compliance failure.
19 Apr 2007auditor change▼ Bad
Houston American dismissed auditor Thomas Leger & Co. and hired Malone & Bailey, PC, disclosing that Leger had flagged material weaknesses in the company's internal controls for both 2005 and 2006.
20 Nov 2006financial restatement● Neutral
Houston American amended its 8-K to say its June 30 and September 30, 2005 quarterly financials should not be relied on. Errors in accounting for derivatives embedded in 2005 convertible notes and warrants required a restatement, and the amended 10-QSBs would be filed.
9 Nov 2006financial restatement▼ BadMajor
Houston American disclosed that its 2005 quarterly financial statements could no longer be relied on: the company had failed to properly account for embedded derivatives in 2005 convertible notes and warrants, requiring restatement of the June and September 2005 10-QSBs.
25 July 2006listing compliance notice▲ GoodMajor
the American Stock Exchange certified ABUNDIA GLOBAL IMPACT GROUP, INC.'s securities for listing, clearing them to begin trading.
5 May 2006capital raising announcement● Neutral
Holders converted the full $2.125 million of Houston American's 2005 convertible notes into 2.125 million shares, closing out that debt.
28 Apr 2006capital raising announcement▲ GoodMajor
Houston American raised $16.6 million in a private placement of 5.5 million shares at roughly $3/share, a much larger capital raise than its 2005 note deal, with Sanders Morris Harris as placement agent.
7 Nov 2005listing compliance notice▼ Bad
ABUNDIA GLOBAL IMPACT GROUP, INC. withdrew a registration statement, abandoning the offering it covered.
10 May 2005capital raising announcement● Neutral
Houston American sold $2.125 million of 8% subordinated convertible notes due 2010 to a group of private investors, convertible into stock at $1.00/share.