Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 692

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 692
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 the accompanying financial statements, during the year
ended December 31, 2024, the Company incurred a net loss of $9,798,083 and used $1,591,426 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 December 31, 2024, that it may not have sufficient funds to operate the business for 12 months given its
cash balance of $167,286 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 if
the Company 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.

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
and retroactively for 2023), Range Environmental Resources, Inc., Range Land, LLC, Range Minerals, LLC, Range Natural Resources,
Inc., Range Reclaim, LLC, Range Security, LLC, Range Security Resources, LLC, Range Water, LLC, Terra Preta, LLC, Aether Credit
Ventures, Inc. (dissolved in November 2023), Pristine Stream Ventures, Inc. (dissolved in November 2023),