Hyperdynamics Corp (HDYNQ)

[Rule_62]

BTW that cash and assets was as of March 31st. They also needed to raise $20M to drill the well at that point.

They do not own any property. That category was valued at $53,000 for "Property and equipment, net of accumulated depreciation of $2,104 and $2,075 ." Probably mostly office furniture and computers.

The majority of that asset value was the $4.7M lease value ("Unproved oil and gas properties excluded from amortization"). It was worth more as of March 31st than it will be today with less than 8 days remaining on the lease and a dry well on the record.