Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 206

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 206
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 and administrative contracted services, legal and audit fees, other professional and consulting
fees, insurance, marketing, and travel expenses. The largest decrease in general and administrative expenses for the six months ended
June 30, 2025 compared to the six months ended June 30, 2024, was attributable to labor and benefit costs of $235,385, professional and
legal fees of $151,989, and insurance costs of $151,650, offset by an increase in stock option expense of $112,500.

For
the six months ended June 30, 2025, the Company generated net other income in the amount of $4,973,191 compared net other expense
of $322,328 recorded for the six months ended June 30, 2024 (an increase of $5,295,519). In 2025, the Company recognized a gain on
bargain purchase of $5,602,484, other income of $83,627 and a gain on sale 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