Realbotix Secures Payment in Genesis Restructuring Efforts

Realbotix Engages in Significant Financial Recovery

Realbotix Corp. (TSX-V: XBOT | Frankfurt Stock Exchange: 76M0.F | OTC: XBOTF), a pioneer in the creation of humanoid robots and AI technology, has recently made headlines by receiving a substantial cash payment of US$743,500 as part of the ongoing restructuring process at Genesis Global Capital. This marks a noteworthy step forward for the Company as it navigates the complexities of asset recovery.

Details of the Payment and Recovery of Assets

This initial cash payment of US$743,500 corresponds to 30% of the Company’s Solana (SOL) tokens held with Genesis, recovered at a value of $165.55 each. This represents a significant premium of approximately 26.5% over the current market price of SOL, demonstrating effective asset management by Realbotix amid turbulent market conditions. Furthermore, the Company has fully repaid an outstanding amount of $138,190 owed to Genesis from other tokens it held.

Impact on Realbotix’s Financial Position

The addition of this cash payment and the previous receipt of 189 Ethereum (ETH) from Genesis in August 2024 signifies a positive shift in Realbotix's financial portfolio. These assets were previously written off, yet now they will contribute to strengthening the Company’s balance sheet. In upcoming financial reports, stakeholders will notice the elimination of the debt balance of USD $138,190 that was previously owed to Genesis. Management is optimistic about receive further payments as the restructuring continues.

Positive Outlook as Genesis Restructures

Recognizing the significance of this development, Andrew Kiguel, CEO of Realbotix, expressed enthusiasm regarding the recovery of their assets through the Genesis restructuring process. “We are pleased to see the recovery of our assets via the Genesis restructuring process,” he stated. This optimism reflects the management's confidence in Genesis's ability to recover funds, signaling potential future distributions of assets to Realbotix by the end of the year.

Remaining Assets Held by Genesis

As part of the restructuring, Genesis still maintains custody of 97 ETH and 10,691 SOL belonging to Realbotix. Apart from these assets, Realbotix holds self-custody of additional valuable cryptocurrencies including 3,052 ETH, 87,209 DOT, and a significant quantity of Blaze tokens. This diversification strengthens Realbotix’s financial resilience in the growing cryptocurrency market.

Company Ticker Update

Recently, Realbotix has updated its ticker symbol on the Frankfurt Exchange to 76M0.F from 76M, while all other ticker symbols for the Company remain unchanged. This change reflects a strategic move to align with its recovery efforts and ongoing innovations in robotics.

About Realbotix

Realbotix stands at the forefront of creating humanoid robots equipped with advanced AI technologies designed to enhance human experience through interaction and companionship. This groundbreaking work is conducted in Nevada, USA, where the Company has positioned itself as a leader in the development of the most sophisticated humanoid robotics technologies available. With a mission focused on bridging the gap between humans and machines, Realbotix aims to replicate the intricate physical and emotional qualities of human interaction through its customizable robots.

Realbotix's addressable market is vast, opening doors to opportunities worth tens or even hundreds of billions USD as it continues to innovate and redefine human-robot interactions.

Frequently Asked Questions

What payment did Realbotix receive from Genesis?

Realbotix received a cash payment of US$743,500 as part of Genesis's restructuring process.

How did the payment affect Realbotix's debts?

The Company fully repaid a debt of USD $138,190 to Genesis, which will be reflected in upcoming financial statements.

What cryptocurrencies does Realbotix currently hold?

Realbotix currently holds 3,052 ETH, 87,209 DOT, and Blaze tokens, along with 97 ETH and 10,691 SOL held by Genesis.

What ticker symbols are associated with Realbotix?

Realbotix is listed under TSX-V: XBOT, Frankfurt Stock Exchange: 76M0.F, and OTC: XBOTF.

What is the mission of Realbotix?

The mission of Realbotix is to create robots and AI that are indistinguishable from humans, enhancing human interactions through advanced robotics technology.

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