Company: RNGE
Filing Date: 2025-03-31
Form Type: 424B3
Source: 0001641172-25-001863
Chunk: 77

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 424B3
Chunk 77
---
 Note 2, on August 22, 2024, nearly all of the equipment, as well as the land and buildings acquired on August 31, 2023, were sold to the previous owner of Collins Building in consideration of the full and complete cancellation of the First Promissory Note and the Second Promissory Note.

For the year ended December 31, 2024, the Company recorded the revenue generated from reclamation services on abandoned mine land, which was historically the core business of Collins Building, as revenue of Range Environmental. Collins Building contributed revenues of $2,833,068 and net income of $437,554 to the Company’s consolidated revenues and net income for the year ended December 31, 2023.

4. GOODWILL

The decrease in goodwill in the year ended December 31, 2024, was driven by the impairment of the Range Reclamation Entities goodwill that was assessed at the time of its acquisition in 2022. See note 1 for further discussion.

SCHEDULE OF GOODWILL

|                        |     |   | December 
 31, 2024 |   |     |   | December 
 31, 2023 |
|:-----------------------|:----|:--|---------:|:--|:----|:--|---------:|
| Range Reclaim Segment: |     |   |          |   |     |   |          |
| Beginning Balance      |     | $ |  751,421 |   |     | $ |  751,421 |
| Impairment             |     |   | (751,421 | ) |     |   |        - |
| Ending Balance         |     | $ |        - |   |     | $ |  751,421 |

5. EQUITY

Issuance of Common Stock and Warrants

In April 2023, the Company entered into securities purchase agreements providing for the issuance and sale by the Company of (i) 2,733,334 shares of the Company’s common stock (the “April 2023 Shares”) at a price of $0.15 per share and (ii) warrants to purchase up to an additional 2,733,333 shares of the Company’s common stock at a price of $0.60 per share (the “April 2023 Warrants”). The April 2023 Warrants expire on April 11, 2028. The aggregate proceeds to the Company from the sale of