Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 756

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 756
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 have continuing value, the amount of future benefits to be derived from
the patents is uncertain. Accordingly, patent costs are expensed as incurred.

Research
and Development

Research
and development costs consist primarily of fees paid to consultants and outside service providers, patent fees and costs, and other expenses
relating to the acquisition, design, development and testing of the Company’s treatments and product candidates. Research and development
costs are expensed as incurred.

Fair
Value of Financial Instruments

FASB
ASC 825, “Financial Instruments” requires that the Company disclose estimated fair values of financial instruments. Financial
instruments held by the Company include, among others, accounts receivable, accounts payable, line of credit, and long -term debt.
The carrying amounts reported in the balance sheets for assets and liabilities qualifying as financial instruments are a reasonable estimate
of fair value.

Fair
Value Measurements

As
defined in FASB ASC 280 “Fair Value Measurements”, fair value is the price that would be received to sell an asset or paid
to transfer a liability, in an orderly transaction between market participants at the measurement date. In determining fair value, the
Company utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about
risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated,
or generally unobservable firm inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize
the use of unobservable inputs. Based on the examination of inputs used in the valuation techniques, the Company is required to provide
the following information according to the fair value hierarchy. The fair hierarchy ranks the quality and reliability of the information
used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the
following three categories.

    ●
    Level
    1:
    Quoted
    market prices in active markets for identical assets or liabilities

    ●
    Level
    2:
    Inputs
    to the valuation methodology include:

    ○
    Quoted
    prices for similar assets or liabilities in active markets;

    ○
    Quoted
    prices for identical assets or similar assets or liabilities in inactive markets;

    ○
    Inputs
    other than quoted prices that are observable for the asset or liability;

    ○
    Inputs
    that are derived principally from or corroborated by observable market data by correlation or