Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 593

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 593
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 in revenues at Range Natural of $8,230,685 in 2024 compared to 2023 due to reduced mining activity
resulting from the failure of the Company’s mining subcontractor that reduced the amount of coal mined and sold during the
year and that Range Environmental had a large non-recurring project in 2023 that contributed $2,902,088 in
revenue.

During
the year ended December 31, 2024, we incurred general and administrative expenses in the aggregate amount of $2,655,970 compared to
$4,021,556 incurred during the year ended December 31, 2023 (a decrease of $1,365,586). General and administrative expenses
generally include corporate overhead, salaries and other compensation costs, financial and administrative contracted services,
consulting costs and travel expenses. The largest decreases related to (i) the general and administrative expenses incurred by our
Range Reclaim segment (not including Range Natural) of $1,072,984 during the year ended December 31, 2024, compared to $1,646,627
incurred during the year ended December 31, 2023 (a decrease of $573,643), which was due to the sale of Collins Building property
and equipment in 2024 and significantly decreased activity in the Range Reclaim segment during the year ended December 31, 2024; and
(ii) the general and administrative expenses recorded for the Corporate segment decreased $621,005 during the year ended December
31, 2024 compared to the year ended December 31, 2023, which was primarily due to a decrease of $321,070 in stock option
compensation, a $102,601 decrease in insurance and employee benefit costs, and a decrease of $94,676 in legal and accounting
fees.

During
the year ended December 31, 2024, we incurred research and development expenses of $465,936 compared to $458,889 incurred during the
year ended December 31, 2023 (an increase of $7,047). All of these expenses were incurred by the Company’s (discontinued) Drug
Development business segment. The Company’s research and development personnel expenses were $295,300 during the year ended
December 31, 2024, compared to $274,912 for the year ended December 31, 2023 (an increase of $20,388). These expenses are presented
as discontinued operations.