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

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 of the sellers to the Company, as consideration provided in lieu of cash. Because
the fair value of the land acquired exceeded the amount of the accounts receivable credited in connection with the Fola Acquisition,
the Company recognized a bargain purchase gain of $5,602,484 during the three months ended March 31, 2025.

SCHEDULE OF BARGAIN
PURCHASE GAIN 

    Fair value of Fola Mine land acquired 
    $8,561,000 
  
    Accounts receivable credited in lieu of cash 
     (2,958,516)
  
    Bargain purchase gain recognized 
    $5,602,484 

4.
DISPOSALS AND DISCONTINUED OPERATIONS

On
August 22, 2024, substantially all of the assets of Collins Building were sold to its previous owner in exchange for the cancellation
of all remaining debt owed to him arising from the Company’s acquisition of Collins Building in August 2023. Any projects related
to Collins Building will be completed either by subcontractors or with equipment and resources of Range Environmental. The Company recognized
a net loss on the Collins Building sale of $3,043,799. This sale did not constitute a discontinued operation as the Company has ongoing
activities related to its acquisition of Collins Building, and only certain assets were sold and debts forgiven. As of March 31, 2025,
any remaining active projects related to Collins Building will be completed by the previous owner or his subcontractors at the previous
owner’s expense.

On
September 30, 2024, the Company sold all of its common stock of Graphium Biosciences to a newly-formed entity, Placer Biosciences, Inc.
(“Placer”), owned by two former officers of the Company, in exchange for a warrant to purchase 1,000 shares of Placer’s
common stock (then representing 25% of the outstanding shares of Placer) at $0.01 per share and cash proceeds of $100. The warrant to
purchase shares of Placer’s common stock expires on September 30, 2034.

Loss
from Discontinued Operations

Discontinued
operations for the three and six months ended June 30, 2024 consists of results from Graphium Biosciences operations. The Company
had no discontinued operations for the three and six months ended June 30, 2025. The following table provides details about the
major classes of line items constituting “Loss from discontinued