Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 61

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 61
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 mining companies and forfeited surety bonds on or after 1977.

Range
Environmental currently provides reclamation and water treatment services to one customer at one large mining complex located in Fola,
West Virginia (the “Fola Mine”). Range Environmental employs 8 full-time workers and owns over 30 pieces of equipment, trucks
and accessories that are used in its business operations. Occasionally, Range Environmental will also rent or lease specific pieces of
equipment for certain tasks. Range Environmental operates in a highly-competitive market environment with high price sensitivity of customers
and inflationary pressures on labor, material and supply costs, therefore operating efficiency and asset utilization are key drivers
of profitability and performance. Range Environmental uses minimal raw materials in connection with its reclamation services at the Fola
Mine, other than grass seed, trees, water treatment solutions and other related reclamation and water treatment supplies, which are reimbursed
by its customer. Range Environmental does not own any intellectual property and does not require any government approvals to provide
reclamation services at the Fola Mine, other than standard business licenses and safety training for workers.

In
August 2023, the Company acquired Collins Building & Contracting, Inc. (“Collins Building”), a West Virginia-based
environmental services business focused on performing reclamation services on AML sites throughout West Virginia. After the
acquisition, the Company used Range Environmental employees to perform reclamation services on AML sites using Range Environmental
equipment and Collins Building equipment. The Company subsequently determined that AML reclamation work was more administratively
and operationally challenging than anticipated, and that the Company was devoting a disproportionate amount of time, capital and
human resources allocated to these AML projects, particularly when compared to alternative opportunities in the marketplace. In
August 2024, the Company sold substantially all of the assets of Collins Building back to its previous owner in exchange for the
discharge of the outstanding indebtedness then owed by the Company in connection with the August 2023 acquisition. The
Company completed its final AML jobs in early November 2024, and subcontracted its remaining three active AML jobs to the previous
owner of Collins Building as part of the August 2024 transaction. As of the date of this filing, the Company is no longer engaged
in the AML reclamation business but continues with other reclamation activities. 

Range
Minerals

In
May 2022, the Company acquired Range Natural Resources, Inc., a West Virginia corporation (“Range