Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 253

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 253
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875,150 
  
    Other income 
     63,170  
     - 
  
    Goodwill impairment 
     (751,421) 
     - 
  
    Fixed asset impairment 
     (738,913) 
     - 
  
    Loss on sale of fixed assets 
     (3,677,500) 
     - 
  
    Interest expense 
     (617,422) 
     (505,917)
  
    Interest income 
     7,405  
     7,458 
  
    Total other income (expense) 
     (5,714,681) 
     1,376,691 

    Income (loss) from continuing operations before
    income tax 
     (9,254,779) 
     3,589,944 
  
    Income tax expense attributable
    to continuing operations 
     (77,368) 
     - 
  
    Income (loss) from continuing
    operations 
     (9,332,147) 
     3,589,944 
  
    Loss from discontinued
    operations 
     (465,936) 
     (458,889)
  
    Net income (loss) 
    $(9,798,083) 
    $3,131,055 

The
Company’s revenue during the year ended December 31, 2024 was $9,011,081 compared to $19,346,306 for the year ended December
31, 2023 (a decrease of $10,335,225). During the year ended December 31, 2024, the gross loss was $(884,128) compared to gross
profit of $6,234,809 during the year ended December 31, 2023 (a decrease of $7,118,937). The significant reduction in revenue is
attributable to a decrease in revenues at Range Natural of $8,230,685 in 2024 compared to 2023 due to reduced mining activity
resulting from the failure of the Company’s mining subcontractor that reduced the amount of coal mined and sold during the
year and that Range Environmental had a large non-recurring project in 2023 that contributed $2,902,088 in
revenue.

During
the year ended December 31, 2024, we incurred general and administrative expenses in the aggregate amount of $2,655,970 compared