Houston Natural Resources Corp (HNRC)

[vulken17]

Tender offer was extended once again and Philip sands resigned

NOTE 10 – SUBSEQUENT EVENTS
Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that no material subsequent events exist expect for:
(1) The company has announced a Tender Offer to acquire up to 2,000,000,000 of its company common shares at price of $0.0001 to $0.01 per share. The offer was to expire on March 31, 2017. The company has extended the offer until June 30, 2017. The company is evaluating other ways to increase shareholder value. The company has received, as of December 31,2016, a total of 28,033,400 common shares at prices between $0.0001 and $0.01. It has also received a total redemption of 650,000,000 previously issued common shares, to reduce the amount of shares outstanding. The shares have not been adjusted to the issued shares until the tender offer is completed.
(2) The company has received the resignation of the Company’s Secretary, Phil Sands, effective January 1, 2017. The Company has issued a Promissory Note for $60,000 for services rendered for the period January 1, 2016 through December 31, 2016. Frank Kristan was appointed as the company’s secretary effective January 1, 2017.