Yes, sadly says it all. The 4,8% is under dispute but Henc has not started any procedure to dispute this officially.
also says that Holloman Aussie holds a pledge over probably 50% of asset. If loan is not repaid by due date Henc loses half its asset to its largest shareholder and best friend Holloman. No conflict of interest there of course. Lol.
If Tgc was to drill another well Henc would have to raise the 2 million and a further 1,3 million to pay its share. Otherwise presumably Holloman would put up the money and take the other half of the asset. That is the reason to delist. No more reporting to SEC nor to shareholders. Holloman can now do what it wants with the asset.
Also Henc issued 2,5 million shares in the period.
As somebody pointed out, another pump turned sour, like STBR and EFLO.
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