Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 173

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 173
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 reclamation bond amount of $13,796,945. As
a result, on March 31, 2025, the Company recorded AROs of $43,079,071 related to the Fola Acquisition and capitalized an equal amount
onto the fair value of the acquired land. The Company also assumed two coal royalty contracts and one 25-year solar
lease for the development of a large-scale solar project located on more than 1,500 acres at the Fola Mine.

SCHEDULE OF
BUSINESS ACQUISITION OF FOLA MINE SITA 

    Estimated asset retirement obligation on 15 acquired permits 
    $29,282,126 
  
    Contingent reclamation obligation on 21 permits 
     13,796,945 
  
    Total asset retirement obligation capitalized to land 
    $43,079,071 
  
    Fair value of Fola Mine land acquired 
     8,561,000 
  
    Total land value of Fola Mine property 
    $51,640,071 
  
    Beginning land value as of December 31, 2024 
     1,008,897 
  
    Land value as of March 31, 2025 
    $52,648,968 

The
fair value of the land acquired by the Company in connection with the Fola Acquisition was $8,561,000, and the Company agreed to credit
an outstanding receivable of $2,958,516 due from one of the sellers to the Company, as consideration provided in lieu of cash. Because
the fair value of the land acquired exceeded the amount of the accounts receivable credited in connection with the Fola Acquisition,
the Company recognized a bargain purchase gain of $5,602,484 during the three months ended March 31, 2025.

SCHEDULE OF BARGAIN
PURCHASE GAIN 

    Fair value of Fola Mine land acquired 
    $8,561,000 
  
    Accounts receivable credited in lieu of cash 
     (2,958,516)
  
    Bargain purchase gain recognized 
    $5,602,484 

4.
DISPOSALS AND DISCONTINUED OPERATIONS

On
August 22, 2024, substantially all the assets of Collins Building were sold to its previous owner in exchange for the cancellation
of all remaining debt owed to him arising from the Company’s acquisition in August 2023. The Company recognized a
net loss