v3.26.1
SEGMENT REPORT
 3 Months Ended
Mar. 31, 2026
SEGMENT REPORT  
SEGMENT REPORT

NOTE 15 – SEGMENT REPORT

 

In its operation of the business, management, including our chief operating decision maker, who is also our CEO, reviews certain financial information, including segmented internal profit and loss statements. All the revenue generating activity is undertaken and assets are held in eastern Kentucky, Indiana, and Limpopo, South Africa.

 

For all of the segments, the CODM uses segment operating income (loss) in the annual budgeting and forecasting process. The CODM considers profit measures when making decisions about allocating capital and personnel to the segments. The CODM also uses segment operating income to assess the performance for each segment by comparing the results and return on assets of each segment with one another.

 

During the periods presented, we reported our financial performance based on the following segments: Corporate, Royalty Management Corporation (RMC), RMC Environmental Services (RMCES) and Vault Holding Corporation (Vault).

 

Our reportable segments are described below.

 

Corporate - Includes metal recovery revenue and direct cost of sales related to the maintenance of mining operations in connection with the Share Exchange Agreement with Quest Energy. In addition, certain costs are incurred at a corporate level and allocated to our segments. These allocated costs generally include corporate overhead and administrative support costs incurred as a part of a corporate program. Each allocation is measured differently based on the specific facts and circumstances of the costs being allocated and is generally based on relative gross margin or relative headcount.

 

RMC – To invest or purchase assets that have near and medium-term income potential to provide RMC with accretive cash flow from which it can reinvest in new assets or expand cash flow from those existing assets.

 

RMCES – Environmental services business that supports residential, municipal, and commercial development.

 

Vault – Holds a contract to manage the electrical power account for a coal mining complex in Perry County, Kentucky. The Company plans to leverage this power infrastructure to support digital currency operations, including hosting or managing mining activities.

 

The accounting policies of our reportable segments are the same as those described in the “Summary of Significant Accounting Policies” for the Company.

 

Revenue and costs are generally directly attributed to our segments. However, due to the integrated structure of our business, certain revenue recognized and costs incurred by one segment may benefit other segments.

The tables below present information about reported segments for the three months ending:

 

 

 

Three Months Ended March 31, 2026

 

 

 

 

 

 

 

 

 

Corporate - RMHC

 

 

Royalty Management

Corporation - Investments

 

 

RMC Environmental Services

 

 

Vault Holding Corporation

 

 

Consolidated

 

Revenues

 

$-

 

 

$9,889

 

 

$1,611,265

 

 

$15,000

 

 

$1,636,154

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

-

 

 

 

9,889

 

 

 

183,817

 

 

 

15,000

 

 

 

208,706

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income (Loss)

 

$(207,157 )

 

$(11,996 )

 

$148,330

 

 

$(15,985 )

 

$(86,808 )

 

 

 

Three Months Ended March 31, 2025

 

 

 

 

 

 

 

 

 

Corporate - RMHC

 

 

Royalty Management

Corporation - Investments

 

 

RMC Environmental Services

 

 

Vault Holding Corporation

 

 

Consolidated

 

Revenues

 

$-

 

 

$9,889

 

 

$898,334

 

 

$15,000

 

 

$923,223

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

-

 

 

 

9,889

 

 

 

228,433

 

 

 

15,000

 

 

 

253,323

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income (Loss)

 

$(233,804 )

 

$(40,458 )

 

$171,994

 

 

$(8,943 )

 

$(111,211 )
A reconciliation of total segment revenues to total consolidated revenues and of total segment gross margin and segment operating income (loss) to total consolidated income (loss), for the three months ended March 31, 2026 and 2025, is as follows:

 

 

 

For the Three Months Ended

March 31, 2026

 

 

 

 

 

 

 

 

 

Corporate - RMHC

 

 

Royalty Management 

Corporation - Investments

 

 

RMC

Environmental Services

 

 

Vault Holding Corporation

 

 

Consolidated

 

Environmental Services

 

$-

 

 

$-

 

 

$1,611,265

 

 

$-

 

 

$1,611,265

 

Fee Income

 

 

-

 

 

 

2,389

 

 

 

-

 

 

 

-

 

 

 

2,389

 

Rental Income

 

 

-

 

 

 

7,500

 

 

 

-

 

 

 

15,000

 

 

 

22,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

 

$-

 

 

$9,889

 

 

$1,611,265

 

 

$15,000

 

 

$1,636,154

 

Cost of Revenue

 

 

-

 

 

 

-

 

 

 

(1,427,448 )

 

 

-

 

 

 

(1,427,448 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

-

 

 

 

9,889

 

 

 

183,817

 

 

 

15,000

 

 

 

208,706

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangibles Amortization Expense

 

 

-

 

 

 

(14,211 )

 

 

-

 

 

 

-

 

 

 

(14,211 )

Depreciation Expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,445 )

 

 

(1,445 )

General and Administrative Expenses

 

 

(76,769 )

 

 

(7,675 )

 

 

(35,487 )

 

 

(21,264 )

 

 

(141,195 )

Professional fees

 

 

(130,387 )

 

 

-

 

 

 

-

 

 

 

(8,276 )

 

 

(138,663 )

Total Operating Expenses

 

 

(207,156 )

 

 

(21,886 )

 

 

(35,487 )

 

 

(30,985 )

 

 

(295,514 )

Segment Net Income (Loss) from Operations

 

$(207,156 )

 

$(11,997 )

 

$148,330

 

 

$(15,985 )

 

$(86,808)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation to Net Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

-

 

 

 

46,714

 

 

 

-

 

 

 

998

 

 

 

47,712

 

Income from Investment

 

 

-

 

 

 

3,179

 

 

 

-

 

 

 

-

 

 

 

3,179

 

Loss on Warrant Fair Value Adjustment

 

 

(614,600 )

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(614,600 )

Interest Expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,841 )

 

 

(1,841 )

Total Other Income (Expense)

 

 

(614,600 )

 

 

49,893

 

 

 

-

 

 

 

(843 )

 

 

(565,550 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$(821,756 )

 

$37,896

 

 

$148,330

 

 

$(16,828 )

 

$(652,358 )

 

 

For the Three Months Ended March 31, 2025

 

 

 

 

 

 

 

 

 

Corporate - RMHC

 

 

Royalty Management

Corporation - Investments

 

 

RMC Environmental Services

 

 

Vault Holding Corporation

 

 

Consolidated

 

Environmental Services

 

$-

 

 

 

-

 

 

 

898,334

 

 

 

-

 

 

$898,334

 

Fee Income

 

 

-

 

 

 

2,389

 

 

 

-

 

 

 

-

 

 

 

2,389

 

Rental Income

 

 

-

 

 

 

7,500

 

 

 

-

 

 

 

15,000

 

 

 

22,500

 

Total Revenue

 

$-

 

 

$9,889

 

 

$898,334

 

 

$15,000

 

 

$923,223

 

Cost of Revenue

 

 

-

 

 

 

-

 

 

 

(669,900 )

 

 

-

 

 

 

(669,900 )

Gross Profit

 

 

-

 

 

 

9,889

 

 

 

228,434

 

 

 

15,000

 

 

 

253,323

 

Intangibles Amortization Expense

 

 

-

 

 

 

(14,211 )

 

 

-

 

 

 

-

 

 

 

(14,211 )

Depreciation Expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(396 )

 

 

(396 )

General and Administrative Expenses

 

 

(100,863 )

 

 

(36,135 )

 

 

(56,439 )

 

 

(15,297 )

 

 

(208,734 )

Professional fees

 

 

(132,943 )

 

 

-

 

 

 

-

 

 

 

(8,250 )

 

 

(141,193 )

Total Operating Expenses

 

 

(233,806 )

 

 

(50,346 )

 

 

(56,439 )

 

 

(23,943 )

 

 

(364,534 )

Segment Net Income (Loss) from Operations

 

$(233,806 )

 

$(40,457 )

 

$171,995

 

 

$(8,943 )

 

$(111,211 )

Reconciliation to Net Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

-

 

 

 

37,759

 

 

 

-

 

 

 

-

 

 

 

37,759

 

Income from Investment

 

 

-

 

 

 

2,222

 

 

 

-

 

 

 

-

 

 

 

2,222

 

Gain (Loss) on Warrant Fair Value Adjustment

 

 

19,436

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

19,436

 

Interest Expense

 

 

-

 

 

 

(6,961 )

 

 

-

 

 

 

-

 

 

 

(6,961 )

Total Other Income (Expense)

 

 

19,436

 

 

 

33,020

 

 

 

-

 

 

 

-

 

 

 

52,456

 

Net Income (Loss)

 

$(214,370 )

 

$(7,437 )

 

$171,995

 

 

$(8,943 )

 

$(58,755 )

 

Assets are not allocated to segments for internal reporting presentations. Total assets, by segment were as follows:

 

 

 

March 31,

2026

 

 

December 31,

2025

 

Corporate - RMHC

 

$5,246

 

 

$(1,304 )

Royalty Management Corporation - Investments

 

 

13,448,815

 

 

 

13,228,316

 

RMC Environmental Services

 

 

1,802,528

 

 

 

1,716,360

 

Vault Holding Corporation

 

 

1,863,688

 

 

 

1,709,151

 

Consolidated

 

$17,120,277

 

 

$16,652,522