TORONTO--(BUSINESS WIRE)--Sep. 18, 2024--
Realbotix Corp. (TSX-V: XBOT | Frankfurt Stock Exchange: 76M0.F | OTC: XBOTF) (“Realbotix” or the “Company”), a leading creator of humanoid robots and companionship-based AI, has received a payment of US$743,500 as part of the restructuring process at Genesis Global Capital (“Genesis”). In addition, an amount of $138,190 owed by Realbotix to Genesis was repaid in its entirety from other tokens held at Genesis. The Company has no further obligations to Genesis.
This initial payment of US$743,500 represents 30% of the Company's Solana (SOL) tokens held at Genesis which were recovered at a value of $165.55 per SOL. This recovery reflects a premium of approximately 26.5% over the current market price of SOL. This cash payment is in addition to the 189 Ethereum (ETH) received from Genesis in August 2024, also as part of the restructuring.
The US$743,500 cash payment and 189 ETH will be added to Realbotix’s balance sheet, as these assets had been previously written-off. In addition, the debt balance of USD $138,190 that was owed to Genesis will be eliminated in the upcoming financial statements. Based on its communications with Genesis, management expects to receive further payments in cash or in-kind as the restructuring progress continues. This cash distribution reflects the positive progress of Genesis's restructuring efforts and sets the stage for subsequent distributions.
“We are pleased to see the recovery of our assets via the Genesis restructuring process. In addition, we are pleased to add these recovered assets back to our balance sheet, which will be reflected in our next quarter reporting,” said Andrew Kiguel, CEO of Realbotix. “We are confident that we will receive more of our assets by the end of the year as funds continue to be distributed," added Kiguel.
Genesis still holds 97 ETH and 10,691 SOL in its custody that belong to Realbotix. In addition to these amounts, Realbotix owns and has self custody of 3,052 ETH, 87,209 DOT and 1,111 million Blaze tokens in its treasury.
The Company’s ticker symbol on The Frankfort Exchange has also been updated to 76M0.F from 76M. All other ticker symbols for the Company remain unchanged.
About
Realbotix
Transcending the barrier between man and machine, Realbotix creates customizable, full-bodied, human-like robots with AI integration that improve the human experience through learning, connection and play. Manufactured in Nevada, USA, Realbotix has built a reputation for having the highest quality humanoid robots and the most realistic skin technology on the market. Our target addressable markets are massive, most of them in the tens or hundreds of billions USD.
Our mission is to create robots and AI that are indistinguishable from humans in appearance and social interaction. Realbotix replicates the physical and emotional aspects of being human, in hardware and software. This versatility makes our robots and their personalities customizable to suit a wide variety of use cases.
Visit Realbotix.AI to learn more.
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Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Realbotix Corp.
Andrew Kiguel, CEO
Email: contact@realbotix.ai
Jennifer Karkula, Head of Communications
Email: contact@realbotix.ai
Telephone: 647-578-7490
Source: Realbotix Corp.
