Quarterly ResultMay 15, 2026, 05:08 PM
RANGE IMPACT Reports Q1 Net Loss of $1.83M; Going Concern Doubt Raised
AI Summary
RANGE IMPACT, INC. reported a net loss of $1.83 million for the first quarter of 2026, a significant decline from a net income of $5.10 million in the prior year, primarily due to a lack of bargain purchase gains. The company generated $915,380 in revenue for the quarter, compared to no revenue in the same period last year. Management raised substantial doubt about the company's ability to continue as a going concern, citing the net loss and $982,050 cash used in operations, with current cash of $1.28 million potentially insufficient for the next 12 months. The company is actively seeking additional financing.
Key Highlights
- Reported a net loss of $1.83 million for Q1 2026, compared to a net income of $5.10 million in Q1 2025.
- Generated $915,380 in revenue for Q1 2026, up from no revenue in Q1 2025.
- Net loss per share was $(0.02) for Q1 2026, down from $0.05 per share in Q1 2025.
- Cash and cash equivalents decreased to $1.28 million as of March 31, 2026, from $2.11 million at December 31, 2025.
- Used $982,050 in cash from operating activities during Q1 2026.
- Management expressed substantial doubt about the company's ability to continue as a going concern.
- Total assets decreased to $121.97 million from $123.24 million, while total liabilities increased to $85.86 million from $85.45 million.
- Company shifted strategy from service-based to land ownership, focusing on reclaiming and repurposing mine sites.
Price Impact
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