Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 10

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 recognized an asset retirement obligation of $10,399,477 and derecognized a reclamation bond obligation of $5,184,920.

As
a result of the various transactions referenced in this Note 1, the Company has reorganized its operations into two operating business
segments: (i) Range Land and (ii) Range Services.

Going
Concern

The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement
of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the six
months ended June 30, 2025, the Company incurred a net loss of $1,301,038 (net of the gain on bargain purchase of $5,602,484 related
to the Fola Acquisition) and used $118,974 of cash in the Company’s activities. These factors raise substantial doubt about the
Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial
statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

The
ability to continue as a going concern is dependent on the Company attaining and maintaining profitable operations in the future and/or
raising additional capital to meet its obligations and repay its liabilities arising from normal business operations when they come due.
The Company estimates, as of June 30, 2025, that it may not have sufficient funds to operate the business for 12 months given its cash
balance of $48,312 and expected revenues to be generated by the Company’s operating business segments. The Company is actively
seeking additional financing and other sources of capital to fund its currently estimated level of operations. However, these estimates
could differ from actual capital needs if the Company’s business encounters unanticipated difficulties, or if its estimates of
the amount of cash necessary to operate its business prove to be wrong, and the Company uses its available financial resources faster
than it currently expects. No assurance can be given that any future financing or capital, if needed, will be available or, if available,
that it will be on terms that are satisfactory to the Company.

    8

Basis
of Presentation

The
accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP)
and with the instructions to Form 10-K and Article 8 of Regulation S-X. The consolidated financial statements include the accounts