Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 37

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 performance obligation is satisfied. The Company primarily invoices customers and recognizes revenue on a periodic
basis for equipment and labor hours provided to a customer on a particular job based on an agreed-upon hourly rate sheet or a fixed amount
for a project. The Company also invoices customers and recognizes revenue for equipment mobilization fees and materials and supplies
required to complete a project. The Company invoices for the sales of chemicals and recognizes revenue when the products are delivered
to the customer’s designated site. Costs for equipment, labor and chemicals are generally expensed as incurred since the projects
are generally short-term and not subject to a contract. The Company also invoices customers for the provision of environmental security
services on an agreed-upon hourly rate for each project. All revenue is recognized at a point in time.

The Company recognizes revenue
from contracts for financial reporting purposes over time. Progress toward completion of the Company’s contracts is measured by
the percentage of cost incurred to date compared to estimated total costs for each contract. This method is used because management considers
total cost to be the best available measure of progress on contracts. Because of inherent uncertainties in estimating costs, it is at
least reasonably possible that the estimates used will change significantly within the near term.

22

Stock-Based Compensation

The Company periodically
issues stock options and restricted stock awards to employees and non-employees in non-capital raising transactions for services and
for financing costs. The Company accounts for such grants issued and vesting based on ASC 718, “Compensation - Stock
Compensation” whereby the value of the award is measured on the date of grant and recognized for employees as compensation expense on
the straight-line basis over the vesting period. Recognition of compensation expense for non-employees is in the same period and
manner as if the Company had paid cash for the services.

Recent Accounting Pronouncements

Please refer to Footnote
1 of the accompanying financial statements for management’s discussion of recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

Not Applicable.

Item 4. Controls and Procedures

Disclosure Controls and Procedures

We have established disclosure
controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under
the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC,
and that information relating to the Company is accumulated and communicated to management, including our principal officers, as appropriate
to allow timely decisions regarding required disclosure