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$2.14-2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Royalty Management Holding Corporation Consolidated Statements of Cash Flows
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Cash flows from Operating Activities: | ||
| Net Income (Loss) | $(2,067,222) | $1,199,503 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Amortization of debt discount | 30,770 | 750,451 |
| Amortization expense of right of use assets | (1,223) | 122 |
| Amortization of intangibles | 75,227 | 28,658 |
| Shares issued for services | 5,000 | 63,750 |
| Impairment loss on intangible asset | 0 | 2,000,000 |
| Fair Value Adjustment of Public Warrants | 47,402 | (2,926,119) |
| Fair Value Adjustment of Private Warrants | 15,604 | (2,161,509) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable – related party | 0 | 675,000 |
| Accounts receivable | 1,218 | (71,540) |
| Prepaid Insurance | 100,049 | 2,485 |
| Interest receivable | (257,464) | (147,084) |
| Fee income receivable | (176,402) | (376) |
| Accounts payable – related party | 21,418 | 0 |
| Accounts payable | (60,860) | 417,753 |
| Accrued expenses | 352,950 | 433,920 |
| Net cash provided (used) in operating activities | (1,913,533) | 265,014 |
| Investing Activities | ||
| Withdrawal (Investment) of cash in Trust Account | 7,613,762 | 98,502,261 |
| Investments in Corporations and LLCs | 3,096 | (365,604) |
| Convertible Notes Receivable | (800,000) | (350,000) |
| Notes Receivable | 0 | (250,000) |
| Intangible Assets | 45,000 | (679,995) |
| Net cash provided in investing activities | 6,861,858 | 96,856,662 |
| Financing Activities | ||
| (Return of Investment Proceeds) Proceeds from sale of Units, net underwriting fees paid | (7,497,311) | (98,614,709) |
| Shares issued in connection with the combination merger | 984,227 | 0 |
| Notes Payable | 228,000 | 42,000 |
| Proceeds from issuance of convertible notes | 259,617 | 1,435,377 |
| Convertible Note Conversion | 762,262 | 409,669 |
| Net cash used in financing activities | (5,263,205) | (96,727,663) |
| Net Change in Cash | (314,881) | 394,013 |
| Cash – Beginning of Year | 687,166 | 293,153 |
| Cash – Ending of Year | $372,286 | $687,166 |
| Supplemental Information | ||
| Discount on Convertible Notes | 30,770 | 750,451 |
| Notes Receivable | (100,000) | 0 |
| Intangible Assets | 100,000 | 0 |
| Acquisition of right of use assets for lease obligations | 0 | 186,636 |
| Issuance of common shares for purchase of membership interest | 0 | 9,498,705 |
| Issuance of common shares for conversion of debt | 0 | 630 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.