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Royalty Management Holding Corp Cl A (RMCO+10.01%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that the company reported revenues of $807,089 for 2024, up from $488,520 in 2023. This increase is attributed to higher volumes in its environmental services subsidiary.
Operating expenses rose to $1,096,748 in 2024 from $777,600 in 2023, primarily due to public company listing fees and professional fees.
The company reported a net loss of $114,261 for 2024, compared to a net loss of $1,113,645 in 2023. The improvement is attributed to gains from warrant liabilities and increased interest income.
Total assets as of December 31, 2024, were $15,040,664, slightly up from $15,040,123 in 2023, driven by increases in accounts and interest receivables.
Total liabilities decreased to $1,414,940 in 2024 from $3,926,243 in 2023, mainly due to conversions of accrued wages and notes payable to preferred stock shares.
The company had a working capital deficit of $236,740 as of December 31, 2024, with a cash balance of $114,138.
The filing notes that Royalty Management Holding Corp Cl A does not anticipate paying cash dividends in the near future.
The company identified a material weakness in its internal controls over financial reporting due to a lack of segregation of duties and reliance on manual processes.
The company continues to focus on acquiring and developing assets with cash flow potential, primarily in the natural resources and environmental services sectors.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Royalty Management Holding Corp Cl A annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.