Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 87

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 87
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 attaining and maintaining profitable operations in the future and/or raising
additional capital to meet its obligations and repay its liabilities arising from normal business operations when they come due. The
Company estimates, as of March 31, 2025, that it may not have sufficient funds to operate the business for 12 months given its cash
balance of $252,695 and expected revenues to be generated by the Company’s operating business segments. The Company is
actively seeking additional financing and other sources of capital to fund its currently estimated level of operations. However,
these estimates could differ from actual capital needs if the Company’s business encounters unanticipated difficulties, or if its estimates of
the amount of cash necessary to operate its business prove to be wrong, and the Company uses its available financial resources
faster than it currently expects. No assurance can be given that any future financing or capital, if needed, will be available or,
if available, that it will be on terms that are satisfactory to the Company.

    8

Basis of Presentation

The accompanying consolidated financial
statements have been prepared in accordance with generally accepted accounting principles (GAAP) and with the instructions to Form
10-K and Article 8 of Regulation S-X. The consolidated financial statements include the accounts of the Company and its wholly-owned
subsidiaries: CLV Azurite Land LLC, Collins Building & Contracting, Inc., Graphium Biosciences, Inc. (sold in September
2024  and included in discontinued operations in 2024), Range Environmental Resources, Inc., Range Land, LLC, Range Minerals,
LLC, Range Natural Resources, Inc., Range Reclaim, LLC, Range Rock Creek Land, LLC, Range Security, LLC, Range Security Resources,
LLC, Range Sky View Land, LLC, Range Water, LLC, and Terra Preta, LLC, and have been prepared in accordance with accounting
principles generally accepted in the United States of America. Intercompany balances and transactions have been eliminated in
consolidation.

Reclassifications

Certain prior period amounts have been reclassified
to conform with the current period’s presentation.

Use of Estimates

The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

Discontinued Operations