Did Your Broker Recommend High-Concentration of Houston American Energy Corp. (HUSA) stock?

Soreide Law Group is investigating, on behalf of clients who suffered devastating losses, broker/dealers who over-concentrated their clients in:
Houston American Energy Corp. (HUSA)

Houston American Energy Corp. is an independent energy company. HUSA acquires, explores, develops, and produces natural gas, crude oil, and condensate from properties located principally in the Texas Permian Basin and Gulf Coast areas of the United States and South America. Its oil and gas properties are located primarily in Colombia and in the onshore Gulf Coast region of Texas and Louisiana. As of December 31, 2016, the company owned interests in nine gross wells. Houston American Energy Corp. was founded in 1981 and is based in Houston, Texas.
In March of 2017, it was reported that Houston American Energy Corp. was struggling to maintain compliance with NYSE MKT LLC listing standards and had included a concern qualification in the latest annual report. HUSA had received another deficiency letter from the stock exchange that indicated shareholders' equity was below sufficient levels. Houston American Energy noted in the release it has previously submitted a plan to regain compliance with the exchange's listing standards
In early May, HUSA completed a private placement of $910,000 of Units consisting of shares of 12.0% Series B Convertible Preferred Stock and Warrants. These funds will be used primarily to pay Houston American's share of drilling costs on the Johnson State #1H well in Reeves County, Texas, with excess funds being added to working capital.
Even though they obtained these funds, Houston American Energy Corp., is subject to a number of risks, including the potential inability to secure financing to fund Houston American's share of completion costs, timing of drilling operations and drilling results, among other factors.
As more energy-related companies incur losses, or worse yet file for bankruptcy, due to the plummeting prices of crude oil beginning in 2015, Soreide Law Group continues to hear from a growing list of investors whose brokers recommended a high-concentration of risky oil and gas stocks for their conservative portfolios.
If your broker/dealer or financial advisor recommended Houston American Energy Corp. (HUSA) for your portfolio and you experienced significant losses, contact Soreide Law Group for a no-cost consultation with a lawyer on the possibility of recouping your investment losses at:  888-760-6552.
You may be able to recover your losses through a FINRA arbitration. We operate on a contingency fee basis. Soreide Law Group represents investors nationwide before FINRA, the Financial Industry Regulatory Authority.