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Pure Acquisition (HPK)

Pure Acquisition Corp. engages in the provision of merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination. It focuses on energy industry with an emphasis on opportunities in the upstream oil and gas industry in North America. The company was founded on November 13, 2017 and is headquartered in Fort Worth, TX.

Company profile

Ticker
HPK, PACQU, PACQ
Exchange
CEO
Jack D. Hightower
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
HighPeak Energy, Inc. • Pure Acquisition Merger Sub, Inc. • HighPeak Energy ...

HPK stock data

Calendar

10 Aug 20
20 May 22
31 Dec 22
Quarter (USD) Jun 20 Mar 20 Dec 19 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 26K 26K 26K 26K 26K 26K
Cash burn (monthly) 27.18K 46.08K 75.79K 187.21K 235.4K 260.81K
Cash used (since last report) 617.57K 1.05M 1.72M 4.25M 5.35M 5.93M
Cash remaining -591.57K -1.02M -1.7M -4.23M -5.32M -5.9M
Runway (months of cash) -21.8 -22.2 -22.4 -22.6 -22.6 -22.6

Beta Read what these cash burn values mean

13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Management Discussion
  • We have neither engaged in any significant operations nor generated any operating revenue. Our only activities from Inception through December 31, 2019 have been related to our formation and the Public Offering. Although we have not generated operating revenue, we have generated non-operating income in the form of interest income on cash and cash equivalents. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as costs in the pursuit of an acquisition target.
  • For the year ended December 31, 2019, we earned net income of $3,785,174, which primarily consisted of interest income on cash and cash equivalents held in the Trust Account partially offset by (i) expenses related to the business combination of $2,903,814, (ii) tax expenses of $1,930,172 and (iii) administrative expenses of $120,000. For the year ended December 31, 2018, we earned net income of $4,275,271, which primarily consisted of interest income on cash and cash equivalents held in the Trust Account partially offset by tax expenses of $1,327,759, expenses related to the business combination of $88,737 and administrative expenses of $86,000. The increase in expenses related to the Business Combination was primarily related to our entry into the HPK Business Combination Agreement and the agreements contemplated thereby.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
Coll. graduate V bad
New words: CVR, demand, founder, Global, Investor, join, PIPE, Registerable, remove, retained, term, uncommitted, withdrawn
Removed: consummating, forfeited