Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 16

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 by the Company include,
among others, accounts receivable, accounts payable and long-term debt. The carrying amounts reported in the balance sheets for assets
and liabilities qualifying as financial instruments are a reasonable estimate of fair value.

As defined in FASB ASC 280 “Fair Value
Measurements”, fair value is the price that would be received to sell an asset or paid to transfer a liability, in an orderly
transaction between market participants at the measurement date. In determining fair value, the Company utilizes certain assumptions
that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in
the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable firm
inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable
inputs. Based on the examination of inputs used in the valuation techniques, the Company is required to provide the following
information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information
used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the
following three categories.

    ●
    Level 1:
    Quoted market prices in active markets for identical assets or liabilities

    ●
    Level 2:
    Inputs to the valuation methodology include:

    ○
    Quoted prices for similar assets or liabilities in active markets;

    ○
    Quoted prices for identical assets or similar assets or liabilities
    in inactive markets;

    ○
    Inputs other than quoted prices that are observable for the asset or
    liability;

    ○
    Inputs that are derived principally from or corroborated by observable
    market data by correlation or other means.

    ●
    Level 3:
    Unobservable inputs that are not corroborated by market data

A financial instrument’s categorization
within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The following is a description of the valuation
methodologies used for instruments measured at fair value, including the general classification of such instruments pursuant to the valuation
hierarchy.

The equipment held for sale is carried at the
lower of carrying amount or fair value, and is considered level 2 as it is based on market prices for similar assets.

Segments

As of March 31, 2025, the Company has two
operating business segments: (i)