Emerging mineral resource development and technology company HXPN Inc (OTCMKTS:HXPN) was one of the companies that had hit the news cycle after it made a key announcement on Friday. The company announced on Friday that it had generated revenues of $1,175,000 in the first fiscal quarter of 2022 and revenues of $640000 in the 2nd fiscal quarter of the year.
On Friday, HXPN stock ended flat at $0.0340 with 400 shares, compared to its average volume 3.47K shares. The stock moved within a range of $0.0340 – 0.0340 after opening trade at $0.0340.
HXPN, Inc. announces 2022 Q1, Q2 Revenue, Sheppard Pool Energy Oil Recompletion Flow Test Results, Bayou Villars First Well Recompletion Oil Production Rate.
The company noted that it had managed to generate such revenues thanks to the sale of its net profit interest in the Sheppard Pool Energy and the Bayou Villars investments respectively in the two quarters. Both of those investments had been announced by HXPN earlier on in the year.
It should be noted that HXPN owns as much as 75% of the Sheppard Pool Energy project. The company sold its some of its net profit interests in the two projects in order to fund the redevelopment projects involved with both these investments.
HXPN also announced that it intended to release its financial results for both the first quarter and the second quarter at some point in the near future. In light of the announcement on Friday, it could be a good time for investors to add the stock to their watch lists.
HXPN stock is trading below the 20-Day and 50-Day Moving averages of $0.0501 and $0.0643 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0630.