Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 164

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 164
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 mine land projects as of September 30, 2025 therefore no contract assets were recognized on that date.

SCHEDULE
OF CONTRACT ASSETS 

    December 31, 2024 
  
    Costs incurred on contracts in progress 
    $1,513,306 
  
    Estimated earnings 
     1,168 
  
    Revenue earned on contracts in progress 
     1,514,474 
  
    Less: Billings to date 
     (1,360,120)
  
    Total contract assets 
    $154,354 

    December 31, 2024 
  
    Costs and estimated earnings in excess of billings on contracts in progress 
    $154,354 
  
    Billings in excess of costs and estimated earnings on contracts in progress 
     - 
  
    Net contract assets 
    $154,354 

Equipment
Held for Sale

Following
the completion of specific projects in the fourth quarter of 2024, management concluded that certain equipment would no longer be
required for future projects. Consequently, these items were separated and prepared for sale. It is not yet known whether there will
be a gain or loss on the disposal of the equipment held for sale, but management believes the equipment assets are currently held at
fair value. The Company recorded an impairment loss of $738,913
as of December 31, 2024. These assets are reported within the Range Services operating business segment. In August of 2025, these
assets were returned to the equipment manufacturer who held loans against the equipment. It is expected that these assets will be
sold in the fourth quarter of 2025 and any gain or loss on the disposal will be recognized in the period in which the sale is
completed.

Land

Land
is carried at cost, which includes an amount of asset retirement costs equal to the amount of asset retirement obligations recognized
in connection with the Fola Acquisition. The Company assesses the recoverability of its land by determining whether the cost of the land
can be recovered through projected future cash flows generated by the land. No land was identified for impairment. Land is reported within
the Range Land operating business segment. Refer to Note 3 for more details.

    11

Property
& Equipment

Property
and equipment is carried at cost. Expenditures for maintenance and repairs are charged to cost of services. Additions and betterments
are capitalized. The cost and related accumulated depreciation of equipment sold or otherwise disposed