Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 169

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 8
Chunk 169
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The
Company’s revenue for the six months ended June 30, 2025 was $2,087,183 and its gross profit was $512,173. The Company’s
revenue for the six months ended June 30, 2024 was $6,259,631 and its gross loss was $130,075. The significant decrease in revenue is
primarily a result of management’s decision to exit its coal mining business in 2024.

For
the six months ended June 30, 2025, general and administrative expenses were $1,183,918, compared to $1,614,600 incurred for the six
months ended June 30, 2024 (a decrease of $457,682). General and administrative expenses generally include corporate overhead, salaries
and other compensation costs, financial and administrative contracted services, legal and audit fees, other professional and consulting
fees, insurance, marketing, and travel expenses. The largest decrease in general and administrative expenses for the six months ended
June 30, 2025 compared to the six months ended June 30, 2024, was attributable to labor and benefit costs of $235,385, professional and
legal fees of $151,989, and insurance costs of $151,650, offset by an increase in stock option expense of $112,500.

For
the six months ended June 30, 2025, the Company generated net other income in the amount of $4,973,191 compared net other expense
of $322,328 recorded for the six months ended June 30, 2024 (an increase of $5,295,519). In 2025, the Company recognized a gain on
bargain purchase of $5,602,484, other income of $83,627 and a gain on sale of assets of $25,668 offset by a $560,402 deficiency
claim on surrendered equipment and $178,186 of interest. In 2024 the Company had interest expense of $340,918 offset by $18,590 of
other income.

Net
income for the six months ended June 30, 2025 was $4,301,446 compared to a net loss of $2,439,521 for the six months ended June 30, 2024
(an improvement of $6,740,967).

Liquidity
and Capital Resources

As
of June 30, 2025, the Company had total current