Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 89

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 Clay and Nicholas
Counties, West Virginia. As part of the Fola Acquisition, the Company acquired 15 mining permits at the Fola Mine with an estimated
reclamation obligation of $29,282,126
and assumed an obligation to manage an additional 21 mining permits at the Fola Mine with a reclamation bond amount of
$13,796,945.
As a result, on March 31, 2025, the Company recorded AROs of $43,079,071
related to the Fola Acquisition, and capitalized an equal amount onto the fair value of the acquired land on that same date. The
Company also assumed two coal royalty contracts and one 25-year solar lease for the development of a large-scale solar project
located on more than 1,500 acres at the Fola Mine.

SCHEDULE OF
BUSINESS ACQUISITION OF FOLA MINE SITA 

    Estimated asset retirement obligation on 15 acquired permits 
    $29,282,126 
  
    Contingent reclamation obligation on 21 permits 
     13,796,945 
  
    Total asset retirement obligation capitalized to land 
    $43,079,071 
  
    Fair value of Fola Mine land acquired 
     8,561,000 
  
    Total land value of Fola Mine property 
    $51,640,071 
  
    Beginning land value as of December 31, 2024 
     1,008,897 
  
    Land value as of March 31, 2025 
    $52,648,968 

The
fair value of the land acquired by the Company in connection with the Fola Acquisition was $8,561,000, and the Company agreed to credit
an outstanding receivable of $2,958,516 due from one of the sellers to the Company, as consideration provided in lieu of cash. Because
the fair value of the land acquired exceeded the amount of the accounts receivable credited in connection with the Fola Acquisition,
the Company recognized a bargain purchase gain of $5,602,484 during the three months ended March 31, 2025.

SCHEDULE OF BARGAIN
PURCHASE GAIN 

    Fair value of Fola Mine land acquired 
    $8,561,000 
  
    Accounts receivable credited in lieu of cash 
     (2,958,516)
  
    Bargain purchase gain recognized 
    $5,602,484