Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 65

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 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 in which the entity holds material assets and reports revenue. All material operating units qualify for
aggregation under “Segment Reporting” due to their similar customer base and similarities in economic
characteristics, nature of products and services, and procurement, manufacturing and distribution processes.

The two reportable segments that result from applying the aggregation
criteria are as follows:

    ●
    Range Land – mine land acquired, reclaimed and repurposed for next
generation uses

    ●
    Range Services – services in support of reclamation and repurposing of acquired mine land

The Company had no inter-segment sales for the
periods presented.