Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 113

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 113
---
i) cash of $252,695; (ii) accounts receivable of $153,938; (iii) equipment held for sale of $733,613; and
(iv) prepaid expenses of $67,822. As of March 31, 2025, the Company had total current liabilities of $3,067,577, consisting of: (i) outstanding
amounts on lines of credit of $2,000,000; (ii) accounts payable of $444,419; (iii) accrued expenses of $148,377, and (iv) the current
portion of long-term debt of $474,781. As a result, as of March 31, 2025, the Company had negative working capital of $(1,859,509). As
of December 31, 2024, the Company had positive working capital of $749,437.

As of March 31, 2025, the Company had long-term assets of $53,240,251,
comprised of: (i) land, including asset retirement cost, of $52,648,968, (ii) net equipment assets of $585,669; and (iii) deposits of
$5,614. As of March 31, 2025, the Company had long-term liabilities of $44,842,220, comprised of (i) asset retirement obligations of $43,079,071 and (ii) long-term debt, net of current portion of $1,763,149. As of December 31, 2024, the Company had long-term assets of $1,899,669,
comprised of (i) land of $1,008,897 and (ii) net equipment assets of $890,772. As of December 31, 2024, the Company had long-term liabilities
of $1,814,701, comprised of long-term debt, net of current portion.

Sources of Capital

Based on the Company’s current corporate strategy, we expect our
general operating expenses to be substantially offset by royalty income generated by Range Land. Based on the Company’s current
cash balance of $252,695 and no current availability under its revolving credit line, the Company may not have sufficient funds to operate
its business over the next 12 months. If additional capital is needed in excess of our current capital resources, we will explore financing
options to accelerate the funding and execution of our growth strategy and shareholder value creation plan.

20