One of our guys found HNRC while he was running a 200Day Low Scan in #DDAmanda.
He was doing the DD and looked at the financials.
They blew him away.
He calculated the Book Value, and came up with $1.35/share.
HNRC was trading at .06 at the time.
They had assets of $92M and Liabilities of only $1M or so.
Their Net Profit/Revenue was about $8M.
They were also working on an acquisition where the appraised assets were about $200M.
They also had $10M set aside for uplisting to Nasdaq/NYSE.
Then they released their results for last year, and again, the gains were incredible.
Total revenue for twelve months was $ 20,516,899 vs $ 18,217,737, an increase of 12.6 % Total earnings for twelve months were $ 9,821,899 vs $ 7,820,857, an increase of 25.5 % Total assets for twelve months were $ 92,741,566 vs $ 74,251,027, an increase of 24.9 % Earnings per share for twelve months was $ 0.14 per share. The company has a net asset value of $1.35 per share as of December 31, 2022.
The acquisition they were working on also had a new appraised value of $352M.
Now, at this time the Book Value was $1.35/share.
If you add the $352M value you come up with a Book Value of $6.53/Share.
A Book Value of $6.53/share would easily get a company to Nasdaq/NYSE. Currently HNRC is trading at .25.
Now you can believe the DD/Numbers, or not.
But we can only go by what a company releases and makes public. And there are serious consequences if a company releases false numbers.
Bottom Line: At this point, a $6.53 Book Value is only Math.
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