Company: RNGE
Filing Date: 2025-03-31
Form Type: 424B3
Source: 0001641172-25-001863
Chunk: 67

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 424B3
Chunk 67
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 bad debt expense was accrued in either of the years ended December 31, 2024 or 2023.

Contract Assets

Billing practices are governed by the contract terms of each project based upon costs incurred, achievement of milestones or predetermined schedules. Billings do not necessarily correlate with revenue recognized over time using the percentage-of-completion method. Contract assets include unbilled amounts typically resulting from revenue under long-term contracts when the percentage-of-completion method of revenue recognition is utilized, and revenue recognition exceeds the amount billed to the customer. The Company’s contract assets are reported on a contract-by-contract basis at the end of each reporting period. The Company classifies contract assets as current or noncurrent based on whether the revenue is expected to be recognized sooner or later than one year from the balance sheet date.

Details of contract assets arising from reclamation contracts in process as of December 31, 2024 and 2023 are as follows:

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, 2023

| Costs incurred on contracts in          
 progress                                |     | $ |  425,634 |   |
| Estimated earnings                      |     |   |  340,528 |   |
| Revenue earned on contracts in progress |     |   |  766,162 |   |
| Less:                                   
 Billings to date                        |     |   | (518,852 | ) |
| Total contract assets                   |     | $ |  247,310 |   |

Property and 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 of are removed from the accounts and any gain or loss is reflected in the current year’s earnings.

SCHEDULE OF PROPERTY AND EQUIPMENT

|                               |     |   |   December 
   31, 2024 |   |