Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 99

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 99
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    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 

As discussed in Note 4, on August 22, 2024, nearly
all of the equipment, as well as the land and buildings 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.

Collins Building contributed revenues of
$173,788
and a net loss of $96,967
to the Company’s consolidated revenues and net loss, respectively, for the three months ended March 31, 2024. Collins Building did not
contribute any revenue or net income to the Company’s consolidated revenues and net income for the three months ended March
31, 2025.

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 an estimated reclamation obligation 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 ACQUIS