Company: RNGE
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010872
Chunk: 129

Company: RANGE IMPACT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 129
---
ation, erosion control, and other activities necessary to meet federal and state post-mining land use requirements. Water treatment
services include the operation and maintenance of passive and active treatment systems designed to manage and treat mine-impacted water,
including acid mine drainage, in compliance with applicable environmental permits. Range Services is also responsible for collecting water
samples, coordinating testing with certified laboratories, and treating water with chemicals and other more innovative solutions, such
as the Company’s proprietary biochar water filtration products and system currently in development. Range Services also
provides physical site security, access control, and risk mitigation activities to ensure the safety, compliance, and regulatory protection
of the Company’s land assets.

Competition

Our Company is focused on
a large and growing marketplace for impact investing initiatives, and therefore, is anticipated to face competition from a variety of
operating businesses and investment funds who are developing similar business plans and operating strategies to satisfy the increasing
demands of these types of investments in the marketplace. In many cases, these competitors are larger and better capitalized operating
businesses and investment funds.

Our Company competes on the
basis of a number of factors, including our geographic focus on Appalachia, access to mission-driven energy-transition capital, access
to impact investing opportunities, strategic relationships with reclamation bond insurance companies, recruitment and retention of key
personnel, market share with key customers, and supply relationships with critical vendors. Our ability to continue to compete effectively
in our businesses will depend upon our ability to attract new employees and retain and motivate our existing employees.

19

Results of Operations

Three Months Ended March 31, 2025 and March
31, 2024

The Company’s revenue
for the three months ended March 31, 2025 was $695,701 and its gross profit was $3,851. The Company’s revenue for the three months
ended March 31, 2024 was $3,909,893 and its gross profit was $18,854. The significant decrease in revenue is primarily a result of management’s
decision to exit the mining business and the AML reclamation business in 2024.

For the three months
ended March 31, 2025, general and administrative expenses were $559,147, compared to $943,901 incurred for the three months ended
March 31, 2024 (a decrease of $384,754). General and administrative expenses generally include corporate overhead, salaries and
other compensation costs, financial and administrative