American Acquisition Opportunity restates financials for warrant liability reclassification

Royalty Management Holding Corp

Audit committee on Oct 18, 2021 determined non-reliance on March 17, 2021 balance sheet and Q1/Q2 2021 quarterly reports.
Previously classified private and public warrants as equity; reclassifying to liabilities per SEC April 12, 2021 guidance.
Company expects to file amended quarterly reports reflecting the reclassification and expanded disclosures.
No impact on cash position or cash held in trust account; adjustments only affect warrant classification.
Going forward, warrants will continue as liabilities, requiring fair value measurement and potentially affecting results.

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