Harris Exploration, Inc (HXPN)

[Special Situations]

As far as I understood, Harris Exploration, Inc. wants to become something like a holding company. Their company reports contain information on sectors and industries they are going to invest their money in. Those are water, food, power generation, minerals, and energy.

However, for a company which has 500 million dollars, it is quite strange to have a reporting status as “Alternative Reporting Standard – Pink Limited Information”. A company of this kind should submit their reports to the SEC. Or at least they should have a reporting status as “Alternative Reporting Standard – Pink Current Information”. If the company is going to work for the interests of all their shareholders, but not for those of the top managers only, they should have regular audited reports representing accurate information on the financial condition of the company, on the Share Structure, etc. Besides, we would like to know on what conditions the company received their 500 million dollars. That means we need more up-to-date and reliable information.

P.S.: The situation about this company is quite interesting, but the risks are big as well! IMO

Disclosure: I own this company’s shares purchased from the open market!