Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 639

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 639
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    31, 2024  
    December
    31, 2023 
  
    Assets 

    Current
    Assets 

    Cash and cash
    equivalents 
    $         -  
    $219 
  
    Current
    assets of discontinued operations 
    $-  
    $219 

    Long-term
    Assets 

    Long term assets of
    discontinued operations 
    $-  
    $8,534 

    F-13

Loss
from Discontinued Operations

Discontinued
operations for years ended December 31, 2024 and 2023 consists of results from Graphium Biosciences operations.

The
following table provides details about the major classes of line items constituting “Loss from discontinued operations” presented
on the Company’s Consolidated Statements of Operations:

    December
    31 

    2024  
    2023 

    Operating expenses: 

    Research and
    development 
    $465,936  
    $458,889 
  
    Total operating expenses 
     465,936  
     458,889 

    Loss
    from discontinued operations 
    $(465,936) 
    $(458,889)

3.
ACQUISITION OF COLLINS BUILDING & CONTRACTING

On
August 31, 2023, the Company entered into a stock purchase agreement with the owner of Collins Building & Contracting, Inc. (“Collins
Building”) pursuant to which the owner agreed to sell all of the outstanding common stock of Collins Building to the Company in
exchange for (a) cash consideration of $1,000,000, (b) a five-year secured promissory note in the principal amount of $2,000,000, bearing
interest at 7.0% per annum (the “First Promissory Note”), and (c) a two-year secured promissory note in the principal amount
of $2,035,250, bearing interest at 8.25% per annum (the “Second Promissory Note”). The First Promissory Note is secured by
the acquired real property and quarry infrastructure, and the Second Promissory Note is secured by the acquired equipment.

The
Company accounted for the transaction as a business combination in accordance ASC 805 “Business Combinations”. The Company
has performed an allocation of the purchase price paid for the assets acquired and the liabilities assumed. The