Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 193

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 193
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Revenue
Recognition

The
Company recognizes revenue under ASC 606, “Revenue from Contracts with Customers”. The core principle of the revenue standard
is that a company should recognize revenue by analyzing the following five steps: (1) identify the contract with the customer; (2) identify
the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance
obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The Company primarily invoices customers
and recognizes revenue on a periodic basis for equipment and labor hours provided to a customer on a particular job based on an agreed-upon
hourly rate sheet or a fixed amount for a project. The Company also invoices customers and recognizes revenue for equipment mobilization
fees and materials and supplies required to complete a project. The Company invoices for the sales of chemicals and recognizes revenue
when the products are delivered to the customer’s designated site. Costs for equipment, labor and chemicals are generally expensed
as incurred since the projects are generally short-term and not subject to a contract. The Company also invoices customers for the provision
of environmental security services on an agreed-upon hourly rate for each project. All revenue is recognized at a point in time.

The
Company recognizes revenue from contracts for financial reporting purposes over time. Progress toward completion of the Company’s
contracts is measured by the percentage of cost incurred to date compared to estimated total costs for each contract. This method is
used because management considers total cost to be the best available measure of progress on contracts. Because of inherent uncertainties
in estimating costs, it is at least reasonably possible that the estimates used will change significantly within the near term.

24

Stock-Based
Compensation

The
Company periodically issues stock options and restricted stock awards to employees and non-employees in non-capital raising transactions
for services and for financing costs. The Company accounts for such grants issued and vesting based on ASC 718, “Compensation -
Stock Compensation” whereby the value of the award is measured on the date of grant and recognized for employees as compensation
expense on the straight-line basis over the vesting period. Recognition of compensation expense for non-employees is in the same period
and manner as if the Company had paid cash for the services.

Recent
Accounting Pronouncements

Please
refer to Footnote 1 of the accompanying financial statements for management’s discussion of recent accounting pronouncements.

Item
3. Quantitative and Qualitative Disc