Royalty Management (RMCO) - 2022 Q1 - Quarterly Report

Financial Performance - For the 3-month period ended March 31, 2022, the company reported a net income of $2,316,786[117]. Initial Public Offering (IPO) - The company generated gross proceeds of $100,000,000 from its Initial Public Offering of 10,000,000 Units at a price of $10.00 per Unit[119]. - Following the Initial Public Offering, a total of $101,000,000 was placed in the trust account[119]. - The company incurred $3,910,297 in Initial Public Offering related costs, including $3,500,000 of underwriting fees[122]. - Cash generated from financing activities was $102,414,704 related to the proceeds of the Initial Public Offering and sale of Private Warrants[122]. Trust Account and Business Combination - As of March 31, 2022, the company had cash of $1,511 available outside the trust account[124]. - The company intends to use substantially all funds in the trust account to complete its Business Combination[123]. - The company may need to obtain additional financing to complete its Business Combination if necessary[126]. Debt and Risk Management - The company does not have any long-term debt or capital lease obligations as of March 31, 2022[128]. - As of March 31, 2022, the company was not subject to any market or interest rate risk due to the nature of its investments[134].