Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 133

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 133
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 comprised of $600,000 from the sale of common stock, partially offset by the repayment of long-term debt of $366,490.
For the three months ended March 31, 2024, net cash used in financing activities was $(396,057), comprised entirely of the repayment of
long-term debt of $396,057.

Off-Balance Sheet Arrangements

We have no significant off-balance
sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that would be material to
stockholders.

21

Critical Accounting Policies

Our financial statements
and accompanying notes included in this report have been prepared in accordance with United States generally accepted accounting principles
(“U.S. GAAP”) applied on a consistent basis. The preparation of financial statements in conformity with U.S. GAAP requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
periods.

We regularly evaluate the
accounting policies and estimates that we use to prepare our financial statements. In general, management’s estimates are based
on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable
under the facts and circumstances. Actual results could differ from the estimates made by management.

We believe the following
critical accounting policies require us to make significant judgments and estimates in the preparation of our consolidated financial
statements included in this report:

Use of Estimates and Assumptions

The preparation of financial
statements in conformity with generally accepted accounting principles in the United States 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. The more significant estimates and assumption
by management include, among others, assumptions used in valuing assets acquired in business acquisitions, reserves for accounts receivable,
assumptions used in valuing equity instruments issued for services, the valuation allowance for deferred tax assets, accruals for potential
liabilities, and assumptions used in the determination of the Company’s liquidity. Actual results could differ from those estimates.

Business Combinations

Business combinations are
accounted for using the purchase method of accounting under ASC 805,