Company: RNGE
Filing Date: 2025-03-31
Form Type: 424B3
Source: 0001641172-25-001863
Chunk: 81

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 424B3
Chunk 81
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 December 31, 2023, the First Promissory Note had an outstanding balance of $1,887,395 and the Second Promissory Note had an outstanding balance of $1,798,633.

In November 2024, certain equipment items no longer required by the Company were surrendered to the financing company which held liens on the equipment in exchange for a release of debt. The result of this transaction was a reduction of the net equipment values on the balance sheet and a reduction in the long-term debt of $1,012,375. The difference in the equipment value and the debt is captured in the statement of operations and cash flow in the line item for the loss on sale of fixed assets.

A summary of payments due under the long-term debt as of December 31, 2024 by year is as follows:

SCHEDULE OF MATURITIES OF LONG TERM DEBT

|                      |     | Equipment 
 Financing |           |
|:---------------------|:----|:----------|----------:|
| 2025                 |     | $         |   789,719 |
| 2026                 |     |           |   512,172 |
| 2027                 |     |           |   503,314 |
| 2028                 |     |           |   514,940 |
| 2029                 |     |           |   284,275 |
| Total long-term debt |     | $         | 2,604,420 |

| F-18 |

10. INCOME TAXES

The Company had no federal income tax expense for the year ended December 31, 2024 and 2023 due to its history of operating losses. They Company did have income and franchise taxes paid to the states of West Virginia and California for 2024. The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

|                                  |     |     |        Year-Ended 
 December 31, 2024 |   |     |     |        Year-Ended 
 December 31, 2023 |   |
|:---------------------------------|:----|:----|------------------:|:--|:----|:----|------------------:|:--|
| Federal statutory tax rate       |     |     |               -21 | % |     |     |               -21 | % |
| State tax rate, net of