Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 61

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 subcontractors  at the previous owner’s expense.

On September 30, 2024,
the Company sold all of its common stock of Graphium Biosciences to a newly-formed entity, Placer Biosciences, Inc. (“Placer”),
owned by two former officers of the Company, in exchange for a warrant to purchase 1,000
shares of Placer’s common stock (then representing 25%
of the outstanding shares of Placer) at $0.01
per share and cash proceeds of $100.
The warrant to purchase shares of Placer’s common stock expires on September 30, 2034.

Loss from Discontinued Operations

Discontinued
operations for the three months ended March 31, 2024 consists of results from Graphium Biosciences operations. The following table
provides details about the major classes of line items constituting “Loss from discontinued operations” presented on the
Company’s Consolidated Statements of Operations:

SCHEDULE
OF DISCONTINUING OPERATIONS INCOME STATEMENT

    March 31, 2024 

    Operating expenses: 

    Research and development 
    $131,640 
  
    Total operating expenses 
     131,640 

    Loss from discontinued operations 
    $(131,640)

5. EQUITY

Issuance of Common Stock

On January 21, 2025, the Company entered into a securities
purchase agreement for the issuance and sale of 3,333,333 shares of the Company’s common stock at a price of $0.15 per share. The aggregate proceeds to the Company were approximately
$500,000.

On February 6, 2025, the Company entered into a securities purchase agreement
for the issuance and sale of 555,556 shares of the Company’s common stock at a price of $0.18 per share. The aggregate proceeds to the Company were approximately $100,000.

6. STOCK OPTIONS

Stock options issued during the three months
ended March 31, 2025 and the three months ended March 31, 2024

No stock options were granted to directors, advisors,
and employees during the three months ended March 31, 2025 or the three months ended March 31, 2024.

For each of the three months ended March 31,
2025 and March 31, 2024, the Company recorded $4,490
in stock-based compensation expense related to vested stock options. At March