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Range Impact (OTC: RNGE) reported first-quarter results for 2024, showing a consolidated revenue increase to $3,909,893, up $895,006 from 1Q 2023. However, the company's consolidated Adjusted EBITDA decreased to $67,034, down from $170,961 in 1Q 2023.
The Range Reclaim segment saw a revenue decline by $1,482,504 to $1,505,983, while Range Minerals, a newly separate segment, reported $1,982,115 in revenue. Range Security also showed strong growth, with revenue up to $421,795 from $26,400 in 1Q 2023.
Operating expenses increased to $1,075,541, contributing to a net loss of $751,149, compared to a net loss of $226,860 in 1Q 2023. Cash flow from operations turned negative at $(1,113,045). The company emphasizes its commitment to reclaiming and repurposing mine sites for sustainable economic activity in Appalachia.
Range Impact, Inc. (OTC: RNGE) announces the transition of two executives to Graphium Biosciences Subsidiary as part of a proposed divestiture, while promoting a new Chief Financial Officer. The company, formerly focused on biotech research, now includes impact investing in Appalachia. The transition aligns with a capital raise for Graphium's divestiture, ensuring leadership continuity for drug development plans.