v3.26.1
INVESTMENTS IN CORPORATIONS AND LLCS
3 Months Ended
Mar. 31, 2026
INVESTMENTS IN CORPORATIONS AND LLCS  
INVESTMENTS IN CORPORATIONS AND LLCS

NOTE 3 – INVESTMENTS IN CORPORATIONS AND LLCS

 

Investments in corporations and limited liability companies as of March 31, 2026 and December 31, 2025 consisted of the following:

 

 

 

March 31,

2026

 

 

December 31,

2025

 

FUB Mineral LLC

 

$628,135

 

 

$624,956

 

Ferrox Holdings Ltd.

 

 

9,623,705

 

 

 

9,623,705

 

Total Investments in Corporations and LLCs

 

$10,251,840

 

 

$10,248,661

 

 

FUB Mineral LLC

On October 1, 2021, the Company made an investment into FUB Mineral LLC (FUB) in the amount of $250,000 in exchange for 38.45% of the membership interest. The investment in FUB is accounted for using the equity method of accounting. On February 1, 2022, the Company invested an additional $200,000 into FUB through the purchase of debt held in that entity, resulting in the current Company’s ownership of 41.75% of FUB. FUB Mineral is an entity that owns or controls coal properties and real estate in the United States that can be leased to mining companies for rental income or a royalty on sales. The Company recorded passthrough income of $3,179 and $2,222, for the three-month periods ended March 31, 2026 and 2025, respectively.

 

Ferrox Holdings Ltd.

On December 23, 2022, the Company entered into an agreement with Maxpro Invest Holdings Inc. ("Maxpro") to purchase from Maxpro the sum of 95,000,000 Class A Common Stock of Ferrox Holdings Ltd. (“Ferrox”) that was owned by Maxpro. RMC has a 9.9% ownership interest in Ferrox. The investment in Ferrox is accounted for using the cost method of accounting. Ferrox is a mining company with operations in South Africa that is focused on extracting and selling iron, vanadium, titanium, and phosphate. The consideration paid to Maxpro for those shares was the sum of 627,806 shares of common stock of the Company.