Company: RNGE
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001343
Chunk: 239

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 239
---
     2,017,000 
  
    Deferred tax liabilities: 

    Derivative income 
     1,108,000  
     1,108,000 
  
    Fixed Assets 
     66,500  
     909,000 
  
    Operating
    lease right-of-use asset 
     -  
     - 
  
    Total deferred tax liabilities 
     1,174,500  
     2,017,000 

    Net deferred income
    tax assets (liabilities) 
    $-  
    $- 

    F-19

The
                                            provisions of ASC Topic 740, Accounting for Income Taxes, require an assessment of both positive
                                            and negative evidence when determining whether it is more likely than not that deferred tax
                                            assets are recoverable. For the years ended December 31, 2024 and 2023, based on all available
                                            objective evidence, including the existence of cumulative losses, the Company determined
                                            that it was more likely than not that the net deferred tax assets were not fully realizable.
                                            Accordingly, the Company established a full valuation allowance against its net deferred
                                            tax assets. The Company intends to maintain a full valuation allowance on net deferred tax
                                            assets until sufficient positive evidence exists to support reversal of the valuation allowance.
                                            During the year ended December 31, 2024 and the year ended December 31, 2023, the valuation allowance changed by $0.8 million and $2.2
million, respectively.

At
December 31, 2024 and December 31, 2023, the Company had available federal and state net operating loss carryforwards
(“NOLs”) to reduce future taxable income. Due to restrictions imposed by Internal Revenue Code Section 382 regarding
substantial changes in ownership of companies with loss carryforwards, the utilization of the Company’s NOLs may be limited as
a result of changes in stock ownership. For Federal purposes, after considering limitations under Section 382, the net operating
loss amounts available were approximately $19.2 million
and $16.9 million
as of December 31, 2024 and December 31, 2023, respectively. For state purposes, after considering limitations under Section 382,
the net operating loss amounts available were approximately $16.5 million
as of December 31, 2024 and $16.6 million as of December