Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 528

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 528
---
 the manner in which we seek to raise capital,
we may incur substantial costs in those pursuits, including investment banking fees, legal fees, accounting fees, and other related costs.

28

Net
Cash Provided By (Used in) Operating Activities 

For
the year ended December 31, 2024, net cash used in operating activities was $1,591,426 compared to net cash provided by operating
activities of $438,637 for the year ended December 31, 2023 (a decrease of $2,030,063). This decline was primarily attributable to
(i) our net loss of $9,798,083 for the year ended December 31, 2024 compared to a net profit of $3,131,055 for the year ended
December 31, 2023, (ii) a decrease in accounts receivable (including unbilled receivables) of $3,976,341, (iii) an increase in the
cash adjustment for asset disposals of $3,677,400, (iv) an increase in the cash adjustment for goodwill impairment of $751,421, (v)
an increase in the cash adjustment for equipment impairment of $738,913, and (vi) depreciation expense of $1,868,997 offset by a
decrease in accounts payable of $3,157,453. Net cash provided by operating
activities during the year ended December 31, 2023, consisted primarily of a net profit of $3,131,055, an increase in accounts
payable of $3,480,206 and depreciation of $1,781,573 offset by an increase in accounts receivable of $6,204,026 and stock-based
compensation of $386,530.

Net
Cash Used in Investing Activities 

For
the year ended December 31, 2024, net cash provided by investing activities was $430,100, which consisted of $270,000 received from
sale of equipment, $160,000 in insurance policy proceeds from a casualty loss, and $100 received from the sale of the Graphium
subsidiary. For the year ended December 31, 2023, net cash used in investing activities was $7,162,811, which consisted primarily of
$4,035,250 of long-term debt issued and $1,000,000 paid for the Collins Building acquisition, $1,118,664 for equipment purchased
primarily by the Range Re