Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 1201

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 1201
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 the goal of returning land to pre-mining conditions or repurposing the land for natural,
commercial, agricultural or recreational use. The Range Reclamation Entities’ water restoration services seek to improve the water
quality in rivers, streams and discharges through novel and innovative treatment applications to help customers meet their various regulatory
standards and requirements. From May 2022 to June 2024, Range Natural engaged subcontractors who controlled and were responsible for
mining and selling coal to third-party customers incidental to the reclamation and repurposing of mine sites.

In
August 2023, the Company acquired Collins Building & Contracting, Inc., a West Virginia corporation (“Collins Building”),
an environmental services business primarily focusing on the reclamation of abandoned mine land sites in West Virginia, as described
in more detail in Note 2.

In
December 2023, the Company changed its name to Range Impact, Inc., and reorganized into five operating business segments: (i) Range Reclaim,
(ii) Range Water, (iii) Range Security, (iv) Range Land, and (v) Drug Development.

In
January 2024, the Company added Range Minerals as a new operating business segment. Range Minerals was previously reported within the
Range Reclaim operating business segment. The Drug Development segment was also renamed Graphium Biosciences.

In
August 2024, the Company sold substantially all of the assets of Collins Building to its previous owner in
exchange for the cancellation of all remaining debt owed to him, as described in more detail in Note 2.

In
September 2024, the Company sold Graphium and all of its drug development assets. The Company is no longer in the cannabinoid drug development
business, as described in more detail in Note 2.

Going
Concern

The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement
of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the year
ended December 31, 2024, the Company incurred a net loss of $9,798,083 and used $1,591,426 of cash in the Company’s operating activities.
These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that
the financial statements are issued. The financial statements do not include any adjustments that might be necessary should the Company
be unable to continue as a going