Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 7

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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three months ended March 31, 2025, the Company incurred a net loss of $502,857
(net of the gain on bargain purchase of $5,602,484 related to the Fola Acquisition) and used $428,101
of cash in the Company’s operating activities. These factors raise substantial doubt about the Company’s ability to
continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not
include any adjustments that might be necessary should the Company be unable to continue as a going concern.

The ability to
continue as a going concern is dependent on the Company attaining and maintaining profitable operations in the future and/or raising
additional capital to meet its obligations and repay its liabilities arising from normal business operations when they come due. The
Company estimates, as of March 31, 2025, that it may not have sufficient funds to operate the business for 12 months given its cash
balance of $252,695 and expected revenues to be generated by the Company’s operating business segments. The Company is
actively seeking additional financing and other sources of capital to fund its currently estimated level of operations. However,
these estimates could differ from actual capital needs if the Company’s business encounters unanticipated difficulties, or if its estimates of
the amount of cash necessary to operate its business prove to be wrong, and the Company uses its available financial resources
faster than it currently expects. No assurance can be given that any future financing or capital, if needed, will be available or,
if available, that it will be on terms that are satisfactory to the Company.

    8

Basis of Presentation

The accompanying consolidated financial
statements have been prepared in accordance with generally accepted accounting principles (GAAP) and with the instructions to Form
10-K and Article 8 of Regulation S-X. The consolidated financial statements include the accounts of the Company and its wholly-owned
subsidiaries: CLV Azurite Land LLC, Collins Building & Contracting, Inc., Graphium Biosciences, Inc. (sold in September
2024  and included in discontinued operations in 2024), Range Environmental Resources, Inc., Range Land, LLC, Range Minerals,
LLC, Range Natural Resources, Inc., Range Reclaim, LLC, Range Rock Creek Land, LLC, Range Security, LLC, Range Security Resources,
LLC, Range Sky View Land, LLC, Range Water, LLC, and Terra Preta, LLC, and have been prepared in accordance with