HOUSTON AMERICAN ENERGY CORP SEC 10-Q Report

Houston American Energy Corp, a company engaged in legacy oil and gas operations and emerging renewable energy initiatives, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and key business activities, reflecting its strategic focus on maintaining traditional energy assets while expanding into the recycling and renewable energy sectors. Financial Highlights Total Revenue: $0.2 million, reflecting the company's legacy oil and gas operations.Net Loss: $(7.0) million for the three months ended September 30, 2025, compared to $(0.3) million for the same period in 2024, primarily due to increased general and administrative expenses related to the acquisition of AGIG.Net Loss Per Common Share - Basic: $(0.21), compared to $(0.01) for the same period in 2024, reflecting the increased net loss.Net Loss Per Common Share - Diluted: $(0.21), compared to $(0.01) for the same period in 2024, consistent with the basic loss per share due to anti-dilutive effects. Business Highlights Segment Performance: The company operates in two segments: legacy oil and gas (O&G) operations and emerging renewables initiatives. The O&G segment generates revenue from oil and gas operations, while the Renewables segment is in the pre-revenue stage, focusing on developing technologies for converting plastic and biomass waste into renewable fuels and chemicals.Geographical Performance: Substantially all of the company's revenue and long-lived assets are located in Texas, indicating a concentrated geographical focus for its operations.New Production Launches: The company completed the purchase of a 25-acre site at the Cedar Port Industrial Park in Baytown, Texas, for approximately $8.6 million. This site is intended for constructing the company's first plastics recycling plant, which will transform plastic waste into pyrolysis oil.Future Outlook: The company plans to maintain its legacy oil and gas assets while expanding its operations in the recycling and renewable energy sectors through its subsidiary, AGIG. The focus will be on using waste products to decarbonize the energy, fuels, and chemicals sector by providing renewable or recycled alternatives.SEC Filing: HOUSTON AMERICAN ENERGY CORP [ HUSA ] - 10-Q - Nov. 19, 2025