Formation Minerals, Inc.
OOTC:FOMI0.00
USD
0.00
(0.00%)
ISIN
US81726B1089
CUSIP
81726B108
Return %
Stock
S&P 500
1Y
-50.00
14.20
3Y
-99.99
81.12
5Y
- -
68.34
Capital Structure
USD
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in mil. unless spec.Working Capital
USD
•
in mil. unless spec.Growth Rates
USD
•
in mil. unless spec.Quarterly Revenue
USD
•
in mil. unless spec.Quarterly Earnings Per Share
USD
•
in mil. unless spec.Quarterly Dividends Per Share
USD
•
in mil. unless spec.Company Description
- CEO
- Scott A. Cox
- Sector
- Health technology
- Industry
- Medical specialties
- Address
- Jacksboro United States
- IPO Date
- Dec 1, 2022
- Similar Companies
- Business
- Formation Minerals, Inc. (OTC: FOMI) is an independent energy company focused on the acquisition, development, and management of revenue-producing oil and natural gas mineral, royalty, and non-operated working interests across major resource basins in the United States. Founded in 2010 and headquartered in Jacksboro, Texas, the company operates primarily within the upstream energy sector, serving mineral owners, exploration and production operators, and energy investment markets through the targeted aggregation of diversified, long-life hydrocarbon assets. The company's core asset portfolio and operational activities encompass multiple interest classifications, including: producing and non-producing mineral interests, which convey direct ownership of subsurface oil, natural gas, and natural gas liquids; overriding royalty interests providing direct revenue participation from active leaseholds without exposure to lease operating expenses or drilling capital costs; non-operated working interests that participate in production cash flows alongside established regional exploration and production operators; and mineral asset portfolio management services, including the strategic acquisition, monetization, and divestiture of onshore oil and gas properties. Geographically, the company manages a portfolio spanning more than 50,000 gross acres across major North American hydrocarbon plays, including the Permian and Delaware Basins in Texas; the Denver-Julesburg Basin in Colorado and Wyoming; the Haynesville Shale in Louisiana; the Marcellus and Utica Shales across West Virginia and Ohio; and the Anadarko Basin in Oklahoma. In recent corporate developments, the company underwent a transformative restructuring in May 2024 through the completion of a reverse merger between SensaSure Technologies, Inc. and Verde Bio Holdings, Inc., whereby the combined operating entity was rebranded as Formation Minerals, Inc. and transitioned its trading to the OTC symbol FOMI under current chief executive leadership. Following the merger, the company entered into a definitive agreement in June 2024 to acquire producing mineral interests within the Haynesville Shale natural gas play in Louisiana. To fund continued asset acquisition and operational initiatives, the company expanded its financial flexibility in early 2025 by entering into a 10 million dollar equity financing agreement alongside a 1 million dollar common stock purchase agreement with GHS Investments, LLC.