Company: MTR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001104659-25-049448
Chunk: 13

Company: MESA ROYALTY TRUST/TX
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 4
Chunk 13
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 Working Interest Owners. See “ Trustee’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources” under Part II, Item 7 of the Trust’s Annual Report on Form 10-K for the year ended December 31, 2024 for information concerning controls and procedures with respect to the Royalties and information related to the Trustee’s review of certain information and calculations by the Working Interest Owners.

Changes in Internal Control over Financial Reporting. In connection with the evaluation by the Trustee of changes in internal control over financial reporting of the Trust that occurred during the Trust’s last fiscal quarter, no change in the Trust’s internal control over financial reporting was identified that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting. The Trustee notes for purposes of clarification that it has no authority over, has not evaluated and makes no statement concerning the internal control over financial reporting of the Working Interest Owners.

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PART II  -   OTHER INFORMATION

Item 1. Legal Proceedings.

There are no pending legal proceedings to which the Trust is a named party. The Trustee has been advised by each of the Working Interest Owners that the Trust may be subject to litigation in the ordinary course of business for certain matters that include the Royalty Properties. While each of the Working Interest Owners has advised the Trustee that it does not currently believe any of the pending litigation will have a material adverse effect net to the Trust, in the event such matters were adjudicated or settled in a material amount and charges were made against royalty income, such charges could have a material impact on future royalty income.

Item 1A. Risk Factors.

For a discussion of the Trust’s potential risks and uncertainties, please see “ Risk Factors” in Part I, Item 1A of the Trust’s Annual Report on Form 10-K for the year ended December 31, 2024. During the quarter ended March 31, 2025, there was no material change in such risk factors.

Item 5. Other information.

Rule 10b5-1 Trading Plans. During the three months ended March 31, 2025, no officer or employee of the Trustee who performs policy-making functions for the Trust adopted, modified, or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as such terms are defined in Item 408(a) of Regulation S-K, with respect to the Trust units.

Item