Royalty Management Holding Corp (NASDAQ:RMCO) announced that it has fully repaid or converted to equity the balance of its outstanding promissory notes, thereby eliminating all company debts other than typical vendor debt and payables.
The forward leaning royalty company said the remaining notes, amounting to about $150,000, were converted to Royalty Management common stock in agreement with the note holders, at around the current market share price.
The company noted it intends to maintain its debt-free balance sheet and the transaction further positions Royalty Management for future strong growth by enabling it to better utilize its cash flow from operations to invest in critical minerals, alternative currencies, other royalty opportunities, and other forms of shareholder value creation.