Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 250

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 250
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 new ways. We seek to thoughtfully allocate our capital into strategic
opportunities that are expected to make a positive impact on the people-planet ecosystem and generate strong investment returns for our
shareholders.

25

Critical
Accounting Policies

Preparation
of financial statements in conformity with U.S. generally accepted accounting principles requires management to make certain estimates
and assumptions which affect amounts reported in our consolidated financial statements. On an ongoing basis, we evaluate the accounting
policies and estimates that are used to prepare financial statements. Management has made their best estimates and judgments of certain
amounts included in the financial statements, giving due consideration to materiality. We do not believe that there is great likelihood
that materially different amounts would be reported under different conditions or using different assumptions related to the accounting
policies described below. However, application of these accounting policies involves the exercise of judgment and use of assumptions
as to future uncertainties and, as a result, actual results could differ from these estimates.

Use
of Estimates and Assumptions

The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual
results could differ from those estimates.

Business
Combinations

Business
combinations are accounted for using the purchase method of accounting under ASC 805, “Business Combinations.” This method
requires the Company to record assets and liabilities of the businesses acquired at their estimated fair values as of the acquisition
date. Any excess of the cost of the acquisition over the fair value of the net assets acquired is recorded as goodwill. Determining the
fair value requires management to make estimates and assumptions including discount rates, rates of return on assets, and long-term sales
growth rates.

Bargain
purchases occur if the acquisition date amounts of the identifiable net assets acquired, excluding goodwill, exceed the sum of (1) the
value of consideration transferred, (2) the value of any noncontrolling interest in the acquiree, and (3) the fair value of any previously
held equity interest in the acquiree. ASC 805 requires the recognition of a gain for a bargain purchase. The FASB believes that
a bargain purchase represents an economic gain, which should be immediately recognized by the acquirer in earnings. When a bargain purchase
gain is recognized