Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 112

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 112
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 and motivate our existing employees.

19

Results of Operations

Three Months Ended March 31, 2025 and March
31, 2024

The Company’s revenue
for the three months ended March 31, 2025 was $695,701 and its gross profit was $3,851. The Company’s revenue for the three months
ended March 31, 2024 was $3,909,893 and its gross profit was $18,854. The significant decrease in revenue is primarily a result of management’s
decision to exit the mining business and the AML reclamation business in 2024.

For the three months
ended March 31, 2025, general and administrative expenses were $559,147, compared to $943,901 incurred for the three months ended
March 31, 2024 (a decrease of $384,754). General and administrative expenses generally include corporate overhead, salaries and
other compensation costs, financial and administrative contracted services, legal and audit fees, other professional and consulting
fees, insurance, marketing, and travel expenses. The largest decrease in general and administrative expenses for the three months
ended March 31, 2025 compared to the three months ended March 31, 2024, was attributable to labor and benefit costs of $147,023,
insurance costs of $120,313, professional and legal fees of $94,225, and utilities of $20,000.

For the three months ended
March 31, 2025, the Company incurred net other income in the amount of $5,654,923, compared to total net other expense of $157,153 recorded
for the three months ended March 31, 2024 (an increase of $5,812,076). This increase in net other income was attributable to a gain on bargain purchase of $5,602,484, other income of $83,627, gain on sale of fixed assets of $59,680, and lower
interest expense of $84,390.

Net income for
the three months ended March 31, 2025 was $5,099,627 compared to a net loss of $1,213,840 for the three months ended March 31, 2024
(an increase of $6,313,467).

Liquidity and Capital Resources

As of March 31, 2025, the Company had total current assets of $1,208,068,
comprised of: (