Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 130

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 130
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 contracted services, legal and audit fees, other professional and consulting
fees, insurance, marketing, and travel expenses. The largest decrease in general and administrative expenses for the three months
ended March 31, 2025 compared to the three months ended March 31, 2024, was attributable to labor and benefit costs of $147,023,
insurance costs of $120,313, professional and legal fees of $94,225, and utilities of $20,000.

For the three months ended
March 31, 2025, the Company incurred net other income in the amount of $5,654,923, compared to total net other expense of $157,153 recorded
for the three months ended March 31, 2024 (an increase of $5,812,076). This increase in net other income was attributable to a gain on bargain purchase of $5,602,484, other income of $83,627, gain on sale of fixed assets of $59,680, and lower
interest expense of $84,390.

Net income for
the three months ended March 31, 2025 was $5,099,627 compared to a net loss of $1,213,840 for the three months ended March 31, 2024
(an increase of $6,313,467).

Liquidity and Capital Resources

As of March 31, 2025, the Company had total current assets of $1,208,068,
comprised of: (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