Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 62

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 (an increase of $9,106,189). During the nine months
ended September 30, 2025, the Company recognized a gain on bargain purchase of $5,602,484, other income of $83,627 and a gain on
sale of assets of $1,085 offset by a $560,402 deficiency claim on surrendered equipment and $216,431 of interest expense. During the nine
months ended September 30, 2024 the Company had a loss on sale of fixed assets of $3,751,680 and interest expense of $496,322 offset
by $52,176 of other income.

Net
income for the nine months ended September 30, 2025 was $3,668,065 compared to a net loss of $7,359,859 for the nine months ended September
30, 2024 (an improvement of $11,027,924).

Liquidity
and Capital Resources

As
of September 30, 2025, the Company had total current assets of $800,842, comprised of: (i) cash of $285,388; (ii) accounts
receivable of $447,162; (iii) prepaid expenses of $52,897; and (iv) deposits of $15,395. As of September 30, 2025, the Company had
total current liabilities of $2,694,495, comprised of: (i) accounts payable of $499,211; (ii) current portion of bank debt of $300,000; and
(iii) accrued payables related to prior equipment debt of $1,895,284. As a result, as of September 30, 2025, the Company had
negative working capital of $1,893,653. As of December 31, 2024, the Company had positive working capital of $749,437.

As
of September 30, 2025, the Company had long-term assets of $56,754,250, comprised of: (i) land, including asset retirement cost, of $56,618,965,
and (ii) net equipment assets of $135,285. As of September 30, 2025, the Company had long-term liabilities of $49,039,147, comprised
of (i) asset retirement obligations of $47,539,147 and (ii) long-term debt, net of current portion of $1,500,000. As