The text HMK maybe is referring to = His Majesty the King (= Hans Kungliga Majestat in Swedish language)
No guarantees can be given regarding context and truthfulness of text written on works of art.
The frame wood or hard plaster moulded and put togheter in pieces is possibly18th century- early 19th century and the painting is possibly from the 20th century.
You can clearly see joins all around the frame.
This is a very rare exclusive art object of international interest with a possible previous owner: the king of Swedens name on the back of the frame, 18th century!
Another possible provenance comes from a possible previous owner: a merchant whose name is written on the back of the frame. Swedish king is related to British royal court: King Carl XVI Gustaf of Sweden is a great-great grandchild of Queen Victoria.
Oil painting Wahlberg!
Historical dates: 1809 03 29 Gustav Adolf IV signed his abdication.
The frame is dated to late 18th century to the beginning of the 19th century by dealers of antiques.
Old inventories are kept in the library of the Royal court.
The value in this unique art object mainly comes from the extraordinary frame from the 18th century with possible provenance from the Swedish king Gustav IV and a possible later provenance from a Swedish merchant: On the back of the frame the following is inscribed: merchant + the merchants name and HMK Gustav IV.
Price example of what a royal provenace can do for the price on an royal object:
-Some letters written by prince Charles was recently sold for 30 138 USD.
Swedish king is related to British royal court: King Carl XVI Gustaf of Sweden is a great-great grandchild of Queen Victoria. 
*This piece of art work is executed in the manner of the Swedish painter Bertil Gunnar Wahlberg(1923-1980) who is well known for people and nature paintings. He is very well represented both in the Swedish National Museum of art and the Modern museum of art in Stockholm.
Another famous Swedish artist with the name Wahlberg is Herman Alfred Leonard Wahlberg(1834-1906)  vice professor in the Swedish Academy of arts.
He travelled to the Netherlands, Belgium and Düsseldorf and had a prominent postion in the art world of his times. He often residenced at ´the castle of Ulriksdal and was  liked by the Swedish king both as an artist and as a person.
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