Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 1302

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 16
Chunk 1302
---
275 
  
    Total long-term debt 
    $2,604,420 

    F-18

10.
INCOME TAXES 

The
Company had no federal income tax expense for the year ended December 31, 2024 and 2023 due to its history of operating losses. They
Company did have income and franchise taxes paid to the states of West Virginia and California for 2024. The following is a reconciliation
of the statutory federal income tax rate to the Company’s effective tax rate:

 SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

    Year-Ended
    December 31, 2024  
    Year-Ended
    December 31, 2023 
  
    Federal statutory tax rate 
     -21% 
     -21%
  
    State tax rate, net of
    federal benefit 
     -7% 
     -7%
  
    Total federal and state tax rate 
     -28% 
     -28%
  
    Valuation allowance 
     28% 
     28%
  
    Effective tax rate 
     -% 
     -%

Deferred
tax assets and liabilities consist of the following:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

    December
    31, 2024  
    December
    31, 2023 

    Net deferred tax assets: 

    Net operating
    loss carryforwards 
    $5,358,900  
    $4,718,000 
  
    Stock-based compensation 
     3,525,900  
     3,506,000 
  
    Goodwill 
     -  
     187,000 
  
    Research credits 
     -  
     342,000 
  
    Other Capitalized Costs 
     -  
     208,000 
  
    Operating
    lease liability 
     -  
     - 
  
    Gross deferred tax assets 
     8,884,800  
     8,961,000 
  
    Less:
    valuation allowance 
     (7,710,300) 
     (6,944,000)
  
    Total
    deferred tax assets 
     1,174,500  
     2,017,000 
  
    Deferred tax liabilities: 

    Derivative income 
     1,