DISPOSALS AND DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

4. DISPOSALS AND DISCONTINUED OPERATIONS

On August 22, 2024, substantially all of the assets of Collins Building were sold to its previous owner in exchange for the cancellation of all remaining debt owed to him arising from the Company’s acquisition of Collins Building in August 2023. Any projects related to Collins Building will be completed either by subcontractors or with equipment and resources of Range Environmental. The Company recognized a net loss on the Collins Building sale of $3,043,799. This sale did not constitute a discontinued operation as the Company has ongoing activities related to its acquisition of Collins Building, and only certain assets were sold and debts forgiven. As of March 31, 2025, any remaining active projects related to Collins Building will be completed by the previous owner or his subcontractors at the previous owner’s expense.

On September 30, 2024, the Company sold all of its common stock of Graphium Biosciences to a newly-formed entity, Placer Biosciences, Inc. (“Placer”), owned by two former officers of the Company, in exchange for a warrant to purchase 1,000 shares of Placer’s common stock (then representing 25% of the outstanding shares of Placer) at $0.01 per share and cash proceeds of $100. The warrant to purchase shares of Placer’s common stock expires on September 30, 2034.

Loss from Discontinued Operations

Discontinued operations for the three months ended March 31, 2024 consists of results from Graphium Biosciences operations. The following table provides details about the major classes of line items constituting “Loss from discontinued operations” presented on the Company’s Consolidated Statements of Operations:

	March 31, 2024

Operating expenses:
Research and development	$	131,640
Total operating expenses		131,640

Loss from discontinued operations	$	(131,640	)

RANGE IMPACT, INC. 10-Q