Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 114

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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 stock warrants had no intrinsic value.

8.
LINE OF CREDIT

In
November 2022, the Company secured a bank line of credit with a limit of $1,000,000. In November 2023, the parties amended and restated
this line of credit. The line of credit, as amended, had a maturity date of December 31, 2025, and bears interest at the fixed rate of
eight and three-quarters percent (8.75%). This line of credit was refinanced and replaced by a non-revolving note in September 2025.
As of December 31, 2024, the balance due under the line of credit was $1,000,000.

In
June 2023, Range Environmental secured a bank loan with a limit of $1,000,000. In November 2023, the loan amount was increased to $1,400,000.
Principal and accrued interest payments are required in March, June, September and December. The loan had a maturity date of December
31, 2025, and bears interest at the fixed rate of seven and three-quarters per cent (7.75%). This bank loan was refinanced and replaced
by a non-revolving note in September 2025. As of December 31, 2024, the balance due under the loan was $1,000,000.

In
September 2025, the Company consolidated both of the above-referenced credit facilities into a single non-revolving note in the
principal amount of $1,800,000 with a maturity date of June
30, 2030. The note bears interest at the fixed rate of seven and three-quarters per cent (7.75%).
Quarterly interest only payments are required through December 2025. Beginning in 2026, quarterly principal and interest payments
are required in March, June, September and December.

9.
LONG-TERM DEBT OBLIGATIONS

Long-term
debt consists of debt on equipment, which serves as the collateral. Interest rates on the equipment financings range from 6.2% to 7.2%
for 2025 and mature between 2027 through 2029.

As
described in Note 4, in August 2024, the Collins Building debt was cancelled in exchange for the property and substantially all of the
equipment acquired in the original transaction. The Collins Building debt consisted of a five5-year secured promissory note