Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 100

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 100
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 financings. Until such time as our operating businesses are
consistently cash flow positive, we expect to continue funding our operations, at least in part, through equity and debt financings.
However, sources of additional funds may not be available when needed, on acceptable terms, or at all. If we issue equity or convertible
debt securities to raise additional funds or to fund, in whole or in part, acquisitions in furtherance of our business strategy, our
existing stockholders may experience substantial dilution, and the new equity or debt securities may have rights, preferences and privileges
senior to those of our existing stockholders. If we incur additional debt, it may increase our leverage relative to our earnings or to
our equity capitalization, requiring us to pay additional interest expenses. Obtaining commercial loans, assuming those loans would be
available, would increase our liabilities and future cash commitments. Moreover, regardless of the manner in which we seek to raise capital,
we may incur substantial costs in those pursuits, including investment banking fees, legal fees, accounting fees, and other related costs.

28

Net
Cash Provided By (Used in) Operating Activities 

For
the year ended December 31, 2024, net cash used in operating activities was $1,591,426 compared to net cash provided by operating
activities of $438,637 for the year ended December 31, 2023 (a decrease of $2,030,063). This decline was primarily attributable to
(i) our net loss of $9,798,083 for the year ended December 31, 2024 compared to a net profit of $3,131,055 for the year ended
December 31, 2023, (ii) a decrease in accounts receivable (including unbilled receivables) of $3,976,341, (iii) an increase in the
cash adjustment for asset disposals of $3,677,400, (iv) an increase in the cash adjustment for goodwill impairment of $751,421, (v)
an increase in the cash adjustment for equipment impairment of $738,913, and (vi) depreciation expense of $1,868,997 offset by a
decrease in accounts payable of $3,157,453. Net cash provided by operating
activities during the year ended December 31, 2023, consisted primarily of a net profit of $3,131,055, an increase in accounts
payable of $3,480,