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

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 Months Ended June 30, 2025  
    Six Months Ended June 30, 2024 

    Earned over time 
    $-  
    $2,049,835 
  
    Point in time 
     2,087,183  
     4,209,796 
  
    Total revenue 
     2,087,183  
     6,259,631 

Cost
of Services

Contract
costs include all direct labor, materials, subcontractor, and equipment costs and those indirect costs related to contract performance,
such as indirect labor, tools and supplies. For construction contracts, costs are generally recognized as incurred. Under certain circumstances,
costs incurred in the period related to future activity on contracts may be capitalized.

Costs
incurred that do not contribute to satisfying performance obligations are excluded from the cost input calculation for revenue recognition.
Excluded costs include both uninstalled materials and abnormal costs. Abnormal costs comprise wasted materials, wasted or rework labor
and other resources to fulfill a contract that were not reflected in the price of the contract. A limited allowance for material overages
and labor inefficiencies is typically included in our contract costs estimates (and by extension, in the contract price).

Cash
and Cash Equivalents

The
Company considers all highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash
equivalents. From time to time, the Company’s cash account balances exceed the balances covered by the Federal Deposit Insurance
Corporation. The Company has never suffered a loss due to such excess balances.

    10

Accounts
Receivable

Included
as a component of accounts receivable are contract receivables that represent the Company’s unconditional right, subject only to
the passage of time, to receive consideration arising from performance obligations under reclamation contracts with customers. Billed
contract receivables have been invoiced to customers based on contracted amounts. There were no contract receivables at June 30, 2025, and
$154,354 at December 31, 2024. Trade accounts receivable are stated at the amount management expects to collect from the balances outstanding
as of June 30, 2025 or December 31, 2024 in the consolidated balance sheets. Based on management’s assessment, it has concluded
that losses on balances outstanding as of those dates will be immaterial and therefore, no allowances were recorded for the six months