UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
HYPERDYNAMICS CORPORATION
(Name of Issuer)
Common Stock, par value $.001
(Title of Class of Securities)
448954107
(CUSIP Number)
Gregory J. Micek
5444 Westheimer, Suite 2080
Houston, Texas 77056
(713)622-1893
(Name, Address, and Telephone Number of Person Authorized
to Receive Notices and Communications:
August 26, 1996
(Date of Event which Requires Filing of this Statement)
If this filing person has previously filed a statement on 13G to
report the acquisition which is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(b)(3) or (4),
check the following box [ ].
Check the following if a fee is being paid with this statement [ ].
(A fee is not required only if the reporting person: (1) has a
previous statement on file reporting beneficial ownership of
more than five percent of the class of securities described in Item
1; and (2) has filed no amendment subsequent thereto reporting
beneficial ownership of five percent or less of such class.) (Rule
13d-7.)
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes)
<PAGE>
SCHEDULE 13D
CUSIP NO. 448954107
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1) Names of Reporting Person
Kent Watts
S.S. or I.R.S. Identification No. of Above Person
###-##-####
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2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds:
oo
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5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
N/A
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6) Citizenship of place of Organization:
UNITED STATES
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7) Sole Voting Power
Number of Shares 1,180,000
Beneficially owned -------------------------------------------------
by Each Reporting 8) Shared Voting Power
Person With -0-
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9) Sole Dispositive Power
1,180,000
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10) Shared Dispositive Power
-0-
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11) Aggregate Amount Beneficially Owned by Each Reporting Person:
1,180,000
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12) Check if Aggregate Amount in Row 11 excludes certain shares:
[ ]
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13) Percent of Class Represented by Amount in Box 11:
21.4%
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14) Type of Reporting Person
IN
ITEM 1. Security and Issuer
The class of equity securities to which this statement
relates is the common stock, par value $.001 per share ("the
Common Stock") issued by HyperDynamics Corporation, a
Delaware corporation ("the Company"), which has its principal
executive offices at 5444 Westheimer, Suite 2080, Houston,
Texas 77056.
ITEM 2. Identity and Background
This statement is filed by Kent Watts ("the Reporting
Person") whose principal business address is 2656 South Loop
West, Suite 103, Houston, Texas 77054. The Reporting Person
is principally engaged as the Chief Financial Officer and Chief
Information Officer of the Company. The Reporting Person is a
United States citizen. During the last five years, the Reporting
Person has not been convicted in a criminal proceeding. During
the last five years, the Reporting Person has not been a party to
a civil proceeding of a judicial or administrative body of
competent jurisdiction and, as a result of such proceeding, is or
was subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or fining any violation with
respect to such laws.
ITEM 3. Source and Amount of Funds or other Consideration
The Reporting Person acquired 480,000 shares of
Common Stock giving rise to the filing of this statement in
exchange for the outstanding common stock of MicroData
Systems, Inc. owned by the Reporting Person.
The Reporting Person also acquired 700,000 shares of
Common Stock in exchange for the cancellation of the rescission
rights relating to its part of the merger agreement with the
Company and the owners of Houston Creative Connections, Inc.
ITEM 4. Purpose of Transaction
On August 26, 1996, the Reporting Person acquired
480,000 shares of Common Stock in exchange for the outstanding
common stock of MicroData Systems, Inc. owned by the Reporting
Person. The purpose of this exchange was the acquisition of
MicroData Systems, Inc. The decision to issue the shares of Common
Stock was reached by the Reporting Person and the Company on a
mutual basis.
On February 6, 1997, the Reporting Person acquired
700,000 shares of Common Stock in exchange for the
cancellation of the rescission rights relating to its part of the
merger agreement with the Company and the owners of Houston
Creative Connections, Inc. The purpose of this exchange was to
have the Reporting Person to cancel his rescission rights relating
to its part of the merger agreement with the Company and the
owners of Houston Creative Connections, Inc. The decision to
issue the shares of Common Stock was reached by the Reporting
Person and the Company on a mutual basis.
The Reporting Person intends to hold his shares of
Common Stock for investment, and does not have any present
plans or proposals which relate to or would result in: (i) any
acquisition by any person of additional securities of the
Company, or any disposition of securities of the Company; (ii)
any extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of
its subsidiaries; (iii) any sale or transfer of a material amount of
assets of the Company or any of its subsidiaries; (iv) any change
in the present board of directors or management of the Company,
including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (v) any
material change in the present capitalization or dividend policy
of the Company; (vi) any other material change in the Company's
business or corporate structure; (vii) any changes in the
Company's charter, by-laws, or other instruments corresponding
thereto or other actions which may impede the acquisition of
control of the Company by any person; (viii) any termination of
registration pursuant to section 12(g)(4) of the Act of a class of
equity securities of the Company; or (ix) any action similar to
any of those enumerated above.
Notwithstanding the foregoing, the Reporting Person
may determine to change his investment intent to the Company
at any time in the future. In reaching any conclusion as to his
future course of action, the Reporting Person will take into
consideration several factors, such as the Company's business
and prospects, other developments concerning the Company,
other business opportunities available to the Reporting Person,
developments with respect to the business of the Reporting Person,
and general economic and stock market conditions, including, but
not limited to, the market price of the Common Stock. The
Reporting Person may, depending on other relevant factors, acquire
additional shares of Common Stock in the open market or privately
negotiated transactions, dispose of all or a portion of his holdings
of shares of Common Stock or change his intention with respect to
any or all of the matters referred to in this item.
ITEM 5. Interest in Securities of the Issuer
The Reporting Person is the beneficial owner of
1,180,000 shares of Common Stock for which he has sole voting
power and investment power. Except for the shares described in
Item 3 above, the Reporting Person has not effected any
transaction in or with respect to the Common Stock during the
past 60 days.
ITEM 6. Contracts, Arrangements, Understandings or Relationships
with the Securities of the Issuer
N/A
ITEM 7. Material to be Filed as Exhibits
No exhibits are being filed with this statement.
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: April 18, 1997
s/s KENT WATTS
Name/Title ________________________________________
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF
FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18
U.S.C. 1001).
