Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 25

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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-term debt 
    $2,237,930 

10. MAJOR CUSTOMER AND CONCENTRATION OF CREDIT
RISK

Sales to the Company’s largest customer
were 59% of total sales for the three months ended March 31, 2025. Sales to the Company’s largest customer for the year ended December
31, 2024 was 53%.

Accounts receivable from the same customer
were 0%
of total accounts receivable as of March 31, 2025 (since the entire accounts receivable balance due from this customer was credited
as in-lieu consideration in connection with the Fola Acquisition that closed on that date) and 83%
as of December 31, 2024.

11. COMMITMENTS AND CONTINGENCIES

From time to time, the Company is involved in
legal matters arising in the ordinary course of business. While the Company believes that such matters are currently not material, there
can be no assurance that matters arising in the ordinary course of business for which the Company is, or could be, involved in litigation,
will not have an adverse effect on its business, financial condition or results of operations.

12. SEGMENT INFORMATION

ASC 280, “Segment Reporting”
establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal
organizational structure as well as information about services, categories, business segments and major customers in financial
statements. The
Company has two
reportable segments that are based on the following business units: (i) Range Land and (ii) Range Services. The Range Reclaim, Range Security and Range Water operating business segments,
which had been previously reported as separate operating business segments are now captured within the Range Services
operating business segment. As described in Note 4, the Company’s Graphium Biosciences segment was
reported as discontinued operations during the third quarter of 2024, and accordingly, the results of this segment are excluded from the table
below, which only reflects continuing operations for all periods presented. In accordance with the “Segment Reporting”
Topic of the ASC, the Company’s chief operating decision-maker has been identified as the Company’s Chief Executive
Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire
Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report
selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers
and the countries