Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 41

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 of assets of $25,668 offset by a $560,402 deficiency
claim on surrendered equipment and $178,186 of interest. In 2024 the Company had interest expense of $340,918 offset by $18,590 of
other income.

Net
income for the six months ended June 30, 2025 was $4,301,446 compared to a net loss of $2,439,521 for the six months ended June 30, 2024
(an improvement of $6,740,967).

Liquidity
and Capital Resources

As
of June 30, 2025, the Company had total current assets of $1,211,631, comprised of: (i) cash of $48,312; (ii) accounts receivable of
$257,207; (iii) equipment held for sale of $833,613; (iv) prepaid expenses of $67,362; and (v) deposits of $5,137. As of June 30, 2025,
the Company had total current liabilities of $3,926,867, comprised of: (i) outstanding amounts on lines of credit of $1,800,000; (ii)
accounts payable of $503,145; (iii) accrued expenses of $769,476, and (iv) the current portion of long-term debt of $854,246. As a result,
as of June 30, 2025, the Company had negative working capital of $2,715,236. As of December 31, 2024, the Company had positive working
capital of $749,437.

As
of June 30, 2025, the Company had long-term assets of $57,005,861, comprised of: (i) land, including asset retirement cost, of $56,618,965,
and (ii) net equipment assets of $386,896. As of June 30, 2025, the Company had long-term liabilities of $48,385,794, comprised of (i)
asset retirement obligations of $47,157,763 and (ii) long-term debt, net of current portion of $1,228,031. As of December 31, 2024, the
Company had long-term assets of $1,899,669, comprised of (i) land of $1,008,897 and (ii) net equipment assets of $890,772. As of December
31