Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 817

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 817
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.
The allocation of the purchase price is based on management’s estimates and a third-party assessment of the fair value of the equipment
purchased.

SCHEDULE
OF BUSINESS ACQUISITION ALLOCATION OF PURCHASE PRICE 

    Fair value of assets acquired: 

    Equipment 
    $6,156,000 
  
    Land 
     554,900 
  
    Buildings 
     199,500 
  
    Total assets acquired 
     6,910,400 
  
    Less: Gain on bargain
    purchase price 
     (1,875,150)
  
    Purchase price 
    $5,035,250 
  
    Cash consideration 
     1,000,000 
  
    Long-term notes issued
    to the seller 
     4,035,250 
  
    Total purchase price 
    $5,035,250 
  
    Acquisition transaction
    costs incurred 
    $167,212 

    F-14

As
discussed in Note 2, on August 22, 2024, nearly all of the equipment, as well as the land and buildings acquired on August 31, 2023,
were sold to the previous owner of Collins Building in consideration of the full and complete cancellation of the First Promissory Note
and the Second Promissory Note.

For
the year ended December 31, 2024, the Company recorded the revenue generated from reclamation services on abandoned mine land, which
was historically the core business of Collins Building, as revenue of Range Environmental. Collins Building contributed revenues of $2,833,068
and net income of $437,554 to the Company’s consolidated revenues and net income for the year ended December 31, 2023.

4.
GOODWILL

The
decrease in goodwill in the year ended December 31, 2024, was driven by the impairment of the Range Reclamation Entities goodwill
that was assessed at the time of its acquisition in 2022. See note 1 for further discussion.

SCHEDULE OF GOODWILL 

    December
    31, 2024  
    December
    31, 2023 
  
    Range Reclaim Segment: 

    Beginning Balance 
    $751,421  
    $751,421 
  
    Impairment 
     (751,421) 
     - 
  
    Ending Balance 
    $-  
    $751,421