Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 33

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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602,484, other income of $83,627, gain on sale of fixed assets of $59,680, and lower
interest expense of $84,390.

Net income for
the three months ended March 31, 2025 was $5,099,627 compared to a net loss of $1,213,840 for the three months ended March 31, 2024
(an increase of $6,313,467).

Liquidity and Capital Resources

As of March 31, 2025, the Company had total current assets of $1,208,068,
comprised of: (i) cash of $252,695; (ii) accounts receivable of $153,938; (iii) equipment held for sale of $733,613; and
(iv) prepaid expenses of $67,822. As of March 31, 2025, the Company had total current liabilities of $3,067,577, consisting of: (i) outstanding
amounts on lines of credit of $2,000,000; (ii) accounts payable of $444,419; (iii) accrued expenses of $148,377, and (iv) the current
portion of long-term debt of $474,781. As a result, as of March 31, 2025, the Company had negative working capital of $(1,859,509). As
of December 31, 2024, the Company had positive working capital of $749,437.

As of March 31, 2025, the Company had long-term assets of $53,240,251,
comprised of: (i) land, including asset retirement cost, of $52,648,968, (ii) net equipment assets of $585,669; and (iii) deposits of
$5,614. As of March 31, 2025, the Company had long-term liabilities of $44,842,220, comprised of (i) asset retirement obligations of $43,079,071 and (ii) long-term debt, net of current portion of $1,763,149. As of December 31, 2024, the Company had long-term assets of $1,899,669,
comprised of (i) land of $1,008,897 and (ii) net equipment assets of $890,772. As of December 31, 2024, the Company had long-term liabilities
of