Royalty Management Holding Corp
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 16, 2024
RMCO$2.190.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheet
Royalty Management Holding CorporationConsolidated Balance Sheet
Part I – Financial Information
ASSETS
| CURRENT ASSETS | December 31, 2023 | December 31, 2022 |
|---|---|---|
| Cash | $195,486 | $510,366 |
| Accounts Receivable | 70,323 | 71,540 |
| Prepaid Insurance | 0 | 100,049 |
| Total Current Assets | 265,809 | 681,955 |
| LONG-TERM ASSETS | ||
| Interest Receivable | 404,548 | 147,084 |
| Fee Income Receivable | 176,777 | 376 |
| Investments in Corporations and LLCs | 10,112,852 | 10,115,948 |
| Convertible Notes Receivable | 1,150,000 | 350,000 |
| Notes Receivable | 350,000 | 250,000 |
| Intangible Assets, less accumulated amortization of $103,885 and $28,658 | 520,259 | 740,487 |
| Restricted Cash | 176,800 | 176,800 |
| Cash Held in Trust account | 0 | 7,613,762 |
| Operating lease right-of-use assets | 453,686 | 181,006 |
| Total Long-Term Assets | 13,344,923 | 19,575,462 |
| TOTAL ASSETS | $13,610,731 | $20,257,417 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable – related party | $381,243 | $359,825 |
| Accounts payable | 96,071 | 156,931 |
| Current portion of operating lease liabilities, net | 33,923 | 11,876 |
| Accrued expenses | 834,267 | 481,318 |
| Total Current Liabilities | 1,345,504 | 1,009,949 |
| LONG-TERM LIABILITIES | ||
| Convertible Notes Payable, Net | 0 | 2,187,512 |
| Notes Payable – Related Party, Net | 1,681,755 | 1,422,138 |
| Operating lease liabilities, net | 418,662 | 169,252 |
| Notes Payable | 270,000 | 42,000 |
| Deferred Underwriter commissions | 0 | 3,500,000 |
| Fair value liability of Public Warrants | 157,584 | 110,182 |
| Fair value liability of Private Warrants | 117,036 | 101,432 |
| TOTAL LONG-TERM LIABILITIES | 2,645,037 | 7,532,516 |
| TOTAL LIABILITIES | $3,990,542 | $8,542,465 |
| COMMITMENTS AND CONTINGENCIES | ||
| Class A Common Stock at $10.10 per share, 0 in 2023 and 742,308 as of 2022 shares at redemption value: | $0 | $7,497,311 |
| SHAREHOLDERS’ EQUITY | ||
| Common Stock: $0.0001 par value; 100,000,000 shares authorized, 14,270,761 and 729,817 shares issued and outstanding for 2023 and 2022 | 1,427 | 68,903 |
| Class B Common Stock: $0.0001 par value; 10,000,000 shares authorized, 0 and 2,726,500 shares issued and outstanding for 2023 and 2022 (including 100,000 representative shares).(1) | 0 | 273 |
| Additional paid-in capital | 8,226,273 | 688,753 |
| Shareholders’ Equity | 1,392,490 | 3,459,712 |
| Total Shareholders’ Equity | 9,620,190 | 4,217,641 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $13,610,731 | $20,257,417 |
| (1) | Includes up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter (see Note 12). |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.