8 May 2026capital raising announcement▼ BadMajor
Sold yet another small toxic convertible note, $67,500 principal (net $62,500), to Monroe Street Capital Partners — the pattern of frequent, small, discount-priced convertible notes continuing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2026capital raising announcement▼ BadMajor
Entered a new $30 million, 24-month equity line of credit with Lambda Ventures, allowing puts at 80% of the lowest recent trading price — steeper terms than the 90%-of-market GHS facility from 2023, suggesting weakened negotiating position.
17 Apr 2026capital raising announcement▼ BadMajor
Sold another toxic convertible note, $96,250 principal (net $87,500) plus warrants for 385,000 shares, to Jefferson Street Capital — continuing the reliance on small, expensive, dilutive debt.
16 Apr 2026auditor change▼ Bad
Dismissed Barton CPA (whose clean reports for FY2024-2025 nonetheless carried a going-concern qualification) and engaged Green Growth CPAs as the new independent auditor.
17 Mar 2026capital raising announcement▼ BadMajor
Sold a $150,000 convertible note (net $133,000) to CFI Capital LLC convertible at 60% of the lowest 20-day trading price — worsening to 50% if a DTC 'chill' is imposed or 45% on default — a classic toxic death-spiral structure.
5 Jan 2026material agreement▼ Bad
Extended the HNO Green Fuels promissory notes a third consecutive time, to December 2026 — now a well-established pattern of annual rollovers on related-party debt rather than repayment.
22 Sept 2025financial restatement▼ BadMajor
Restated FY2024 and the two subsequent interim periods a second time for the same root cause — understated stock-based compensation from mis-valued service-stock issuances, adding $1.1 million (FY2024) and $4.8 million (Q1 FY2025) of non-cash expense — confirming a recurring, unresolved internal-controls weakness around valuing stock paid for services.
6 Mar 2025financial restatement▼ BadMajor
New auditor Barton CPA found errors in the valuation of stock issued for services, forcing a restatement of the FY2023 financial statements — a direct consequence of the forced auditor change after BF Borgers was barred.
3 Jan 2025capital raising announcement▲ GoodMajor
CEO/Chairman Donald Owens and lender HNO Green Fuels exchanged a combined 360 million shares of common stock (245 million and 115 million respectively) for new Series B Convertible Preferred Stock — a major recapitalization that sharply cut the outstanding common float, though it concentrates control with insiders via preferred shares.
20 Dec 2024material agreement▼ Bad
Extended the same stack of HNO Green Fuels promissory notes for a second time, pushing maturities from December 2024 to December 2025 — the related-party debt rollover becoming a recurring annual event rather than being resolved.
12 Nov 2024listing compliance notice▼ Bad
HNO International, Inc. withdrew a registration statement, abandoning the offering it covered.
8 May 2024auditor change▼ BadMajor
Dismissed BF Borgers CPA as auditor after the SEC barred the firm from practicing before it (a May 3, 2024 enforcement order affecting hundreds of public companies) and engaged Barton CPA — an industry-wide audit disruption, not company-specific misconduct, but a real one nonetheless.
5 Mar 2024material agreement▼ BadMajor
Extended five more promissory notes owed to HNO Green Fuels (all issued in 2023) to the same December 2024 maturity, adding to the growing stack of related-party debt being repeatedly rolled rather than repaid.
23 Jan 2024material agreement▼ BadMajor
Extended three promissory notes (originally issued 2021-2022) owed to affiliated lender HNO Green Fuels, Inc., waiving prior defaults and pushing maturity to December 2024 — the company had been in default on debt to its own affiliate.
12 Oct 2023capital raising announcement▼ BadMajor
Now renamed HNO International, Inc., entered a $10 million equity line of credit with GHS Investments, allowing the company to sell stock at 90% of the lowest recent trading price over a 24-month period — a dilutive, market-price-linked financing facility, plus upfront commitment shares to GHS.
20 Aug 2019listing compliance notice▼ BadMajor
HNO International, Inc. suspended its duty to file periodic reports with the SEC.
12 Sept 2011asset acquisition disposition▼ BadMajor
Restructured its African and Southeast Asian operations around a joint venture with Futenco AG, giving up majority control of its Ghana subsidiary (down to 40%, Futenco 57%) in exchange for project financing commitments the company acknowledged had not yet been funded, while simultaneously overhauling its board and losing its India country director — a defensive restructuring under real strain, not a straightforward growth deal.
1 June 2011capital raising announcement▼ BadMajor
Borrowed $300,000 from TCA Global Credit Master Fund at 10% interest plus a 7.5% commitment fee and other charges, netting only $277,950 against a $331,500 repayment obligation due within six months — another expensive short-term facility.
11 Aug 2010capital raising announcement● Neutral
Borrowed roughly $607,000 in two convertible promissory notes from Rootchange, an entity whose assets Clenergen UK had earlier acquired for stock.
24 June 2010material agreement▲ GoodMajor
Agreed to acquire an existing 18MW biomass power plant near Chennai, India, projected to generate about $15 million in annual revenue and $3 million in annual surplus cash at an 80% load factor — a major scale-up from the 1.5MW India plant bought weeks earlier.
8 June 2010asset acquisition disposition▲ GoodMajor
Acquired United Bio Fuels Private Limited, owner of a 1.5MW biomass power plant in Salem, Tamil Nadu, India, for about $1.76 million — mostly used to retire the plant's debt to India's government renewable-energy lender — giving the company its first operating power asset.
18 May 2010capital raising announcement▼ BadMajor
Borrowed $250,000 from Vastani Trading Limited at 24% annual interest with a 3-month maturity and warrants struck at a 30% discount to market, plus escalating penalty warrants for every month the note went unpaid past maturity — expensive, high-risk short-term financing.
27 Nov 2009capital raising announcement▼ Bad
Four unregistered share issues in a fortnight totalling 582,500 shares: 12,500 and 350,000 to consultants for entering consulting agreements, and 100,000 and 120,000 under stock purchase agreements to offshore buyers.
23 Nov 2009auditor change▲ Good
The post-merger board replaced auditor Chang G. Park with the larger firm Holtz Rubenstein Reminick LLP, a step up in audit quality befitting the newly merged operating company.
10 Nov 2009business combination▲ GoodMajor
Closed the reverse merger with Clenergen UK, establishing the company as a biomass renewable-energy developer with a public-private partnership in Ghana (a planned 56MW biomass plant on a 14,000-acre energy plantation) and operations underway in India.
4 Sept 2009material agreement▲ GoodMajor
Signed a share exchange agreement to acquire UK-based Clenergen Corporation Limited, issuing 70.3 million shares to its shareholders — the reverse merger that would turn this shell into a renewable-energy operating company.
5 Aug 2009capital raising announcement▼ Bad
Now renamed Clenergen Corporation, issued 57.4 million shares as compensation to 22 individuals for services rendered and to be rendered — a large stock-for-services issuance rather than a cash raise.
11 Sept 2006auditor change▼ Bad
As American Bonanza Resources Corp. (this company's original name), lost its founding auditor to resignation just 16 months after inception, with the outgoing accountant's only report already flagging going-concern doubt due to no operations; Chang G. Park, CPA engaged as replacement.