Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 94

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

THREE
AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

(Unaudited)

1.
BUSINESS OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Range
Impact, Inc. (the “Company”, “we”, “us” or “our”), was incorporated in the State of Nevada
on June 29, 2007.

Since inception, the Company has undergone several
strategic transformations conducting prior operations under the names Legend Mining Inc., Stevia First Corp., Vitality Biopharma, Inc.,
and Malachite Innovations, Inc. In December 2023, the Company adopted its current name and reorganized into six operating segments: Range
Reclaim, Range Water, Range Security, Range Land, Range Minerals, and Graphium Biosciences. The Company expanded its environmental services
operations through the acquisitions of Range Environmental Resources, Inc. and Range Natural Resources, Inc. in May 2022, and Collins
Building & Contracting, Inc. in August 2023. The Company subsequently sold substantially all of the assets of Collins Building in
August 2024 and divested Graphium Biosciences, Inc. in September 2024, as described in more detail in Note 4. As of June 2025, the Company
conducts its business under two operating segments: Range Land and Range Services.

Significant land and asset acquisitions include:

●Hobet Mine Acquisition (September 2023): The Company acquired 1,745 acres of surface and mineral interests
in Lincoln and Boone Counties, West Virginia, for a total cash purchase price of $948,376.

●Fola Mine Acquisition (March 2025): The Company acquired 120,154 acres of fee, surface, and mineral interests
at the Fola Mine Complex in Clay and Nicholas Counties, West Virginia (the “Fola Acquisition”). The acquisition included 15
mining permits with an estimated reclamation obligation of $29.3 million and assumed management responsibility for 21 additional mining
permits with a $13.8 million reclamation bond. The Company also assumed two coal royalty contracts, and a 25-year lease for a large-scale
solar project. The Fola Acquisition is described in more detail in Note 3.

●Ramp Run Mine Transaction (May 2025):
The Company entered into a Transaction Advisory Agreement (“Advisory