Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 96

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 that any future financing or capital, if needed, will be available
or, if available, that it will be on terms that are satisfactory to the Company. Additionally, even if the Company does raise
sufficient capital to support its operating expenses and generate revenues, there can be no assurances that the revenue will be sufficient
to enable it to develop business to a level where it will generate profits and cash flows from operations.

    8

Basis
of Presentation

The
accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP)
and with the instructions to Form 10-K and Article 8 of Regulation S-X. The consolidated financial statements include the accounts of
the Company and its wholly-owned subsidiaries: CLV Azurite Land LLC, Collins Building & Contracting, Inc., Graphium Biosciences,
Inc. (sold in September 2024 and included in discontinued operations in 2024), Range Environmental Resources, Inc., Range Land, LLC,
Range Minerals, LLC, Range Natural Resources, Inc., Range Reclaim, LLC, Range Rock Creek Land, LLC, Range Security, LLC, Range Security
Resources, LLC, Range Sky View Land, LLC, Range Water, LLC, and Terra Preta, LLC, and have been prepared in accordance with accounting
principles generally accepted in the United States of America. Intercompany balances and transactions have been eliminated in consolidation.

Reclassifications

Certain
prior period amounts have been reclassified to conform with the current period’s presentation.

Use
of Estimates

The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual
results could differ from those estimates.

Discontinued
Operations

During
the third quarter of 2024, the Company sold its wholly-owned subsidiary Graphium Biosciences, Inc. In accordance with GAAP, assets and
liabilities of discontinued operations are presented separately in the Consolidated Balance Sheets, and results of discontinued operations
are reported as a separate component of consolidated net loss or net income in the Consolidated Statements of Operations, for all periods
presented, resulting in changes to the presentation of certain prior period amounts.

Refer
to Note 4 for additional discussion of discontinued operations and disposition of assets. All other notes to