Hyperdynamics Corp (HDYNQ)

[Rule_62]

You might want to read a little further into that 10-Q. This is from pg 7:

Status of our Business, Liquidity and Going Concern

We have no source of operating revenue and there is no assurance when we will, if ever.

On March 31, 2017 we had $0.6 million in cash, and $2.2 million in accounts payable and accrued expense liabilities, all of which are current liabilities. Our net working capital will not be sufficient to meet our corporate needs and Concession related activities for the quarter ending June 30,2017. We are currently pursuing several avenues to raise funds. We have no other material comitments other than ordinary operating costs and commitments relating to the PSC.

As of the date of filing, the Company's trade accounts payable and accured expenses exceeded its cash balances.

Yup, that's right. Every penny of those cash assets was owing and then some.

They were supposed to spud the Fatala well at the beginning of May. Care to guess why it got put off to the end of May? Then June? Then July? And finally August? Care to guess why they paid the drillship to stand by all that time? One word. Cash. It took that long to raise. Almost $6M in drillship standby fees were shelled out while they desperately attempted to raise sufficient money to pay for their 50% of the drilling cost. Btw those costs were in large part, paid in shares in lieu of cash. Why? Because Pacific Drilling didn't have much left to lose either. They too are staring a bankruptcy filing in the face.

Funny, huh? Some of us actually know the history of events only too well. Some of us even know how much they have to shell out to pay the employees and keep the office lights on.

investors.hyperdynamics.com/common/download/sec.cfm?companyid=HDY&fid=1104659-17-34705&CIK=937136