Company: RNGE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023395
Chunk: 147

Company: RANGE IMPACT, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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 stock is restricted by the SEC’s “penny stock” regulations and certain FINRA rules, which may limit a stockholder’s
ability to buy and sell our common stock.

Our
securities are covered by certain “penny stock” rules, which impose additional sales practice requirements on broker-dealers
who sell low-priced securities to persons other than established customers and accredited investors. For transactions covered by these
rules, a broker-dealer must make a special suitability determination for the purchaser and have received the purchaser’s written
consent to the transaction prior to sale, among other things. These rules may affect the ability of broker-dealers and holders to sell
our common stock and may negatively impact the level of trading activity for our common stock. To the extent our common stock remains
subject to the penny stock regulations, such regulations may discourage investor interest in and adversely affect the market liquidity
of our common stock.

32

The
Financial Industry Regulatory Authority (FINRA) has adopted rules that require a broker-dealer, when recommending an investment to a
customer, to have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative
low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the
customer’s financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA
believes that there is a high probability that speculative low-priced securities will not be suitable for at least some customers. FINRA
requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit an investor’s
ability to buy and sell our common stock and could have an adverse effect on the market for our shares.

If
we issue and sell additional shares of our common stock in the future, our existing stockholders will be diluted and our stock price
could fall.

Our
articles of incorporation authorize the issuance of up to 1,000,000,000 shares of common stock, of which, as of September 30, 2025, 112,282,745
shares were outstanding and 18,855,879 shares were reserved for issuance under our stock incentive plan and other outstanding options
or warrants. As a result, we have a large number of shares of common stock that are authorized for issuance that are not outstanding
or otherwise reserved, and could be issued at the discretion of our Board of Directors. We expect to seek additional financing in the
future in order