Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 980

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 980
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,043,799. This sale did not constitute a discontinued operation as
the Company has ongoing business and is still operating with active contracts and completion of work in progress. Only certain assets
were sold and debts forgiven.

On
September 30, 2024, the Company sold all of its common stock of Graphium Biosciences to a newly-formed entity, Placer Biosciences, Inc.
(“Placer”) owned by two former officers of the Company, in exchange for a warrant to purchase 1,000 shares of Placer’s
common stock (then representing 25% of the outstanding shares of Placer) at $.01 per share and cash proceeds of $100, with
the cash proceeds reflected within “Net proceeds from disposition of Graphium Biosciences” in the investing activities of
the Consolidated Statements of Cash Flows, and recognized a gain on sale of $100, included within “Loss from discontinued operations”
on the Consolidated Statements of Operations. The warrant to purchase Placer’s shares expires September 30, 2034.

During
the quarter ended September 30, 2024, Range Environmental suffered a casualty loss on a piece of equipment. Insurance proceeds of $160,000
were received for this loss. In addition, several pieces of equipment no longer needed for current or foreseeable operations were sold
for net proceeds of $270,000. The proceeds from these transactions are shown within “Cash flows from investing activities”
and the losses from these transactions are shown within “Cash flows from operating activities” on the Consolidated Statements
of Cash Flows.

During
the quarter ended September 30, 2024, the biochar ovens owned by our wholly-owned subsidiary, Terra Preta, LLC, were dismantled since
they were no longer being used for small batch biochar production. The resulting loss of $12,365 is included within “Cash flows
from operating activities” on the Consolidated Statements of Cash Flows.

Assets
and Liabilities of Discontinued Operations

As
previously described, assets and liabilities of discontinued operations are presented separately in the Consolidated Balance Sheets for
all periods presented. At December 31, 2024 and 2023, these balances consisted of current and long-term assets.

The
following table presents a reconciliation of the carrying amounts of the major classes of these assets and liabilities to the current
and long-term assets and liabilities of discontinued operations as presented on the Company’s Consolidated Balance Sheets:

SCHEDULE
OF