Houston American Energy (US:HUSA)2025-11-19 22:27Revenue and Financial Performance - Total revenue from the oil and gas segment was $225,678 for the three and nine months ended September 30, 2025[140]. - General and administrative expenses increased to $3,456,958 during the three months ended September 30, 2025, from $433,412 during the same period in 2024[141]. - Cash balance at September 30, 2025, was $1,512,157, an increase from $525,809 at December 31, 2024[143]. - Operating activities used $4,606,146 of cash during the nine months ended September 30, 2025, compared to $1,823,786 during the same period in 2024[146]. - Financing activities raised $7,431,486 during the nine months ended September 30, 2025, compared to none during the same period in 2024[148]. - Long-term liabilities increased to $6,191,700 at September 30, 2025, from $5,860,274 at December 31, 2024[149]. Strategic Initiatives - The Company acquired all outstanding units of AGIG on July 1, 2025, diversifying its portfolio in the energy sector[127]. - The Company is focused on using waste products to decarbonize the energy sector through AGIG's proprietary technologies[128]. - The Company is in the pre-revenue stage for its renewable energy segment, incurring research and development costs[144]. - The Company will need substantial additional funding to support operations and growth strategy[145].