Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 136

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 8
Chunk 136
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NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

THREE
AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(Unaudited)

1.
BUSINESS OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Range
Impact, Inc. (the “Company”, “we”, “us” or “our”), was incorporated in the State of Nevada
on June 29, 2007.

Originally
founded in 2007 as Legend Mining Inc., the Company began operations as a mineral extraction exploration business. In 2011, the Company
changed its name to Stevia First Corp. and pursued a new strategy focused on developing stevia-based additives for the food and beverage
industry. In 2015, the Company changed its name to Vitality Biopharma, Inc. and pursued a new strategy focused on developing cannabinoid-based
prodrugs anticipated to treat inflammatory conditions of the gastrointestinal tract. In October 2021, the Company changed its name to
Malachite Innovations, Inc. and expanded its corporate strategy to include impact investing.

In
May 2022, the Company acquired Range Environmental Resources, Inc., a West Virginia corporation (“Range Environmental”) and
Range Natural Resources, Inc., a West Virginia corporation (“Range Natural”) to provide land reclamation and water restoration
services to mining and non-mining customers throughout the Appalachian region. In August 2023, the Company acquired Collins Building
& Contracting, Inc., a West Virginia corporation (“Collins Building”), an environmental services business primarily focusing
on the reclamation of abandoned mine land sites in West Virginia, as described in more detail in Note 2.

In August 2023, the Company
acquired Collins Building & Contracting, Inc., a West Virginia corporation (“Collins Building”), an environmental services
business primarily focusing on the reclamation of abandoned mine land sites in West Virginia.

In
September 2023, the Company, through its wholly-owned subsidiary CLV Azurite Land, LLC, acquired 1,745 acres of surface land and mineral
interests at the Hobet mine complex (“Hobet Mine”) located in Lincoln and Boone Counties, West Virginia, from three private
landowners in three separate transactions for a total cash purchase price of $948,376 (“Hobet Acquisition”).

In
December 2023, the Company changed its name to Range Impact, Inc., and reorganized into five operating business segments