Houston American Energy Corp. Files Q2 2025 10-Q

Ticker: AGIG · Form: 10-Q · Filed: Aug 15, 2025 · CIK: 1156041

Sentiment: neutral

Topics: 10-Q, quarterly-report, sec-filing

Related Tickers: HUSA

TL;DR

**HUSA Q2 2025 10-Q FILED** - Standard quarterly update, nothing major flagged yet.

AI Summary

Houston American Energy Corp. filed its quarterly report for the period ended June 30, 2025. The company's common stock trades under the symbol HUSA on the NYSE American exchange. The filing indicates the company has met its reporting requirements for the past 12 months and 90 days.

Why It Matters

This filing provides investors with an update on Houston American Energy Corp.'s financial performance and operational status for the second quarter of 2025.

Risk Assessment

Risk Level: low — This is a standard quarterly report filing with no immediate red flags or significant new information presented.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-Q filing?

The primary purpose is to provide a quarterly report of the registrant's financial condition and results of operations for the period ended June 30, 2025.

What is the trading symbol and exchange for Houston American Energy Corp.'s common stock?

The trading symbol is HUSA, and it is registered on the NYSE American exchange.

Has Houston American Energy Corp. filed all required reports for the preceding 12 months?

Yes, the filing indicates that the registrant has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Has the company submitted all required Interactive Data Files electronically?

The filing does not explicitly state 'Yes' or 'No' for the submission of Interactive Data Files, but it is a required question for this form.

What is the company's jurisdiction of incorporation?

The company is incorporated in Delaware.

Filing Stats: 4,607 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2025-08-14 21:33:54

Key Financial Figures

Filing Documents

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) 4 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2025 and 2024 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18 PART II OTHER INFORMATION 19 Item 6. Exhibits 37 2 PART I —FINANCIAL INFORMATION ITEM 1 Financial HOUSTON AMERICAN ENERGY CORP. CONSOLIDATED BALANCE SHEETS June 30, 2025 (Unaudited) December 31, 2024 ASSETS CURRENT ASSETS Cash $ 6,951,006 $ 2,960,151 Accounts receivable - oil and gas sales 32,906 75,074 Prepaid expenses and other current assets 483,810 175,866 TOTAL CURRENT ASSETS 7,467,722 3,211,091 PROPERTY AND EQUIPMENT Oil and gas properties, full cost method Costs subject to amortization 62,775,947 62,770,657 Office equipment 90,004 90,004 Total 62,865,951 62,860,661 Accumulated depletion, depreciation, amortization, and impairment ( 61,809,714 ) ( 61,743,025 ) PROPERTY AND EQUIPMENT, NET 1,056,237 1,117,636 Right of use asset 28,812 69,901 Refundable acquisition deposit 160,000 - Other assets 3,167 3,167 TOTAL ASSETS $ 8,715,938 $ 4,401,795 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 193,266 $ 49,542 Accrued expenses 19,582 17,684 Current portion of lease liability 29,285 71,082 TOTAL CURRENT LIABILITIES 242,133 138,308 LONG-TERM LIABILITIES Reserve for plugging and abandonment costs 62,470 57,180 TOTAL LONG-TERM LIABILITIES 62,470 57,180 TOTAL LIABILITIES 304,603 195,488 COMMITMENTS AND CONTINGENCIES - - SHAREHOLDERS' EQUITY Common stock, par value $ 0.001 per share; 300,000,000 shares authorized; 1,908,385 and 1,308,653 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1,908 1,309 Additional paid-in capital 96,451,859 89,420,107 Accumulated deficit ( 88,042,432 ) ( 85,215,109 ) TOTAL SHAREHOLDERS' EQUITY 8,411,335 4,206,307 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 8,715,938 $ 4,401,795 On June 6, 2025, the Company effected a 1-for-10 reverse stock split (the "Reverse Stock Split") of all outstanding s

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