Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 21

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 now captured as part of the Range Services
operating business segment. This change was implemented as each of these business segments now serve to support the reclamation and improvement
of the land holdings of Range Land and not as businesses serving other customers. The change in the segment reporting is shown retrospectively
in this filing. Graphium Biosciences was sold in September 2024 and therefore the drug development business segment named Graphium Biosciences
is no longer reported as an operating business segment of the Company.

In
accordance with the “Segment Reporting” Topic of the ASC 280, the Company’s chief operating decision-maker has been
identified as the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance
for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to
report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers,
and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation
under “Segment Reporting” due to their similar customer base and similarities in economic characteristics, nature of products
and services, and procurement, manufacturing, and distribution processes.

Recent
Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.”
This ASU enhances reportable segment disclosures on both an annual and interim basis primarily in regards to the disclosure of significant
segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within the reported
measure(s) of segment profit or loss. In addition, this ASU requires disclosure, by segment, of other items included in the reported
measure(s) of segment profit or loss, including qualitative information describing the composition, nature and type of each item. This
ASU also expands disclosure requirements related to the CODM, including how the reported measure(s) of segment profit or loss are used
to assess segment performance and allocate resources, and the method used to allocate overhead for significant segment expenses. All
current required annual segment reporting disclosures under Topic 280 are now effective for interim periods. The ASU is effective for
fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early
adoption permitted. The Company has adopted this ASU. The