Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 813

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 813
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observable
    inputs that are not corroborated by market data

A
financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant
to the fair value measurement.

The
following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification
of such instruments pursuant to the valuation hierarchy.

The
equipment held for sale is carried at the lower of carrying amount or fair value, and is considered level 2 as it is based on market
prices for similar assets.

Segments

As
of December 31, 2024, the Company has five operating business segments: (i) Range Reclaim; (ii) Range Minerals; (iii) Range Water; (iv)
Range Security; and (v) Range Land. Previously, beginning in October 2021, the Company began operating under two segments: (A) the Drug
Development segment, which reported the operating results of the Company’s broad portfolio of glycosylated cannabinoid prodrugs
operating under the name Graphium Biosciences, and (B) the Range Reclaim segment, which reported the operating results of our land reclamation,
water restoration and incidental coal mining services to customers throughout Appalachia. The Range Water, Range Security and Range Land
business segments began operations in 2023. Beginning in January 2024, Range Minerals, which was previously reported within the Range
Reclaim operating business segment, was separately reported as its own operating business segment focused on coal mining using subcontractors
and related reclamation activities, and the Drug Development segment was renamed Graphium Biosciences. Graphium Biosciences was sold
in September 2024 and therefore the drug development business segment named Graphium Biosciences is no longer reported as an operating
business segment of the Company.

In
accordance with the “Segment Reporting” Topic of ASC 280, the Company’s chief operating decision-maker has been identified
as the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance
for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to
report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers,
and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation
under “Segment Reporting” due to their similar customer base and similarities in: economic characteristics; nature of products
and services