Financial Performance - Royalty Management reported a 160% year-over-year increase in revenue, totaling $162,100 for Q1 2024 compared to $62,292 in Q1 2023[1] - Net income for Q1 2024 was $135,180, or $0.01 per share, a significant improvement from a net loss of $274,345, or a loss of $0.38 per share, in the prior year period[13] - 2024 expenses are trending significantly lower than 2023, primarily due to the reduction of one-time merger expenses associated with American Acquisition Opportunity[13] Assets and Liabilities - Total assets increased to $13,709,149 as of March 31, 2024, up from $13,610,731 a year earlier, while total liabilities decreased to $3,603,779 from $3,990,541[13] - Royalty Management's clean balance sheet and strong asset base position the company well for continued growth and value creation in 2024[2] Revenue Generation and Future Projects - The company anticipates Ferrox Holdings' Tivani mining project to generate approximately $8 million in annualized revenue by 2025, with production expected to reach 50,000 tons of run-of-mine ores per year[5] - The company expects additional revenue streams to expand from its portfolio over the next six months, generating free cash flow and positioning for an exciting 2025[6] Cash Flow and Financing Activities - Net Cash Used in Operating Activities was $(580,218) compared to $(228,195) in the previous period, indicating a significant increase in cash outflow[21] - Net Cash Provided by (Used in) Investing Activities decreased to $(91,420) from $2,100,442, reflecting a substantial reduction in cash inflow from investments[21] - Net Cash Provided (Used in) Financing Activities improved to $611,000 from $(2,194,640), showing a positive shift in financing cash flows[21] - Ending Cash balance decreased to $311,648 from $364,773, indicating a decline in available cash[21] - The company reported a withdrawal of cash in the trust account amounting to $2,152,346, which significantly impacted cash flows from investing activities[21] - The company issued shares worth $350,000 in the purchase of debt, contributing to financing activities[21] - The acquisition of Right of Use Assets for Lease Obligations was recorded at $305,380, indicating ongoing investment in operational assets[21] - The company reclassified $1,681,755 of debt from related to non-related parties, which may affect future financial obligations[21] Strategic Initiatives - RMC Environmental Services recorded a record monthly revenue of slightly under $1.0 million for March 2024, covering the majority of the parent company's expenses[5] - The company has initiated a stock repurchase program for up to $2.0 million over the next 24 months, already commencing buy-backs prior to the current "black out" period[5] - The company is focused on acquiring and developing high-value assets in sustainable market environments to build shareholder value[22] Risks and Forward-Looking Statements - Forward-looking statements indicate potential risks associated with the initial public offering, emphasizing the uncertainty in future financial performance[23] - The company is a gold member of CASFER, gaining access to innovative technologies for producing and recycling nitrogen-based fertilizers, with updates on emerging opportunities expected soon[5]
Royalty Management (RMCO) - 2024 Q1 - Quarterly Results