Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 24

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
 loss for the three months ended
June 30, 2024. For the six months ended June 30, 2024, Collins Building’s operations contributed no revenue and a net loss of $544,836.
The losses stem primarily from depreciation of equipment and buildings purchased as part of the Collins Building acquisition.

    14

3.
ACQUISITION OF FOLA MINE SITE

On
March 31, 2025, the Company, through its wholly-owned subsidiary Range Sky View Land, LLC, acquired 120,154
acres of fee, surface and mineral interests at the Fola mine complex (“Fola Mine”) located in 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