v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

12. SEGMENT INFORMATION

 

ASC 280, “Segment Reporting” establishes standards for reporting operating segment information consistent with the Company’s internal organizational structure, as well as disclosures related to services, categories, business segments and major customers. The Company has two reportable segments that are based on the following business units: (i) Range Land and (ii) Range Services. The Range Reclaim, Range Security and Range Water operating business segments, which had been previously reported separately, are now included within the Range Services operating business segment. The Company’s previous Graphium Biosciences segment was classified as discontinued operations during the third quarter of 2024. Accordingly, its results are excluded from the table below, which only reflects continuing operations for all periods presented. In accordance with ASC 280, the Company’s Chief Executive Officer has been identified as the chief operating decision-maker, who reviews consolidated operating results to allocate resources and assess performance. Under the management approach to segment reporting, the Company reports selected segment information on a quarterly basis and provides annual entity-wide disclosures about products and services, major customers and geographic information. All material operating units meet the criteria under ASC 280 due to their similar customer base and similarities in economic characteristics, nature of products and services, and procurement, manufacturing and distribution processes.

 

The two reportable segments that result from applying the aggregation criteria are as follows:

 

● Range Land – mine land acquired, reclaimed and redeveloped to meet strategically essential future needs of the United States, including power generation, data centers, rare earth elements, agriculture, housing, and health
   
● Range Services – services in support of reclamation and redevelopment of acquired mine land

 

The Company had no inter-segment sales for the periods presented.

 

 

Summarized financial information concerning the Company’s reportable segments is shown as below:

 

By Categories

 

   Range Land   Range Services   Corporate   Total 
   For the three months ended June 30, 2026 
   Range Land   Range Services   Corporate   Total 
                 
Revenue  $1,109,661   $-   $-   $1,109,661 
Operating (loss)   (1,228,471)   (113,798)   (485,593)   (1,827,862)
Net (loss)   (1,228,471)   (113,798)   (519,561)   (1,861,830)
                     
Total assets   121,292,797    144,685    994,847    122,432,329 
Depreciation   -    13,087    -    13,087 
Amortization   790,423    -    -    790,423 
Accretion   1,547,190    -    -    1,547,190 
Interest expense   -    -    33,968    33,968 
Capital expenditures for long-lived assets  $-   $-   $-   $- 

 

   Range Land   Range Services   Corporate   Total 
   For the three months ended June 30, 2025 
   Range Land   Range Services   Corporate   Total 
                 
Revenue  $1,106,089   $-   $-   $1,106,089 
Operating income (loss) continuing   110,939    (19,102)   (410,708)   (318,871)
Operating income (loss) discontinued   -    (30,636)   -    (30,636)
Net income (loss)   113,384    (709,353)   (432,826)   (1,028,795)
                     
Total assets   45,773,946    1,402,602    57,668    47,234,216 
Depreciation from continuing operations   -    20,260    -    20,260 
Depreciation from discontinued operations   -    30,636    -    30,636 
Amortization   364,167    -    -    364,167 
Accretion   592,134    -    -    592,134 
Interest expense   -    65,200    22,118    87,318 
Capital expenditures for long-lived assets  $-   $-   $-   $- 

 

   Range Land   Range Services   Corporate   Total 
   For the six months ended June 30, 2026 
   Range Land   Range Services   Corporate   Total 
                 
Revenue  $2,025,041   $-   $-   $2,025,041 
Operating (loss)   (2,505,565)   (228,045)   (893,457)   (3,627,067)
Net (loss)   (2,505,565)   (228,045)   (961,910)   (3,695,520)
                     
Total assets   121,292,797    144,685    994,847    122,432,329 
Depreciation   -    30,934    -    30,934 
Amortization   1,572,159    -    -    1,572,159 
Accretion   2,951,531    -    -    2,951,531 
Interest expense   -    -    68,453    68,453 
Capital expenditures for long-lived assets  $-   $-   $-   $- 

 

   Range Land   Range Services   Corporate   Total 
   For the six months ended June 30, 2025 
   Range Land   Range Services   Corporate   Total 
                 
Revenue  $1,106,089   $-   $-   $1,106,089 
Operating income (loss) from continuing operations   87,874    (254,329)   (743,823)   (910,278)
Operating income (loss) from discontinued operations   -    5,475    -    5,475 
Net income (loss)   5,692,802    (931,322)   (690,648)   4,070,832 
                     
Total assets   45,773,946    1,402,602    57,668    47,234,216 
Depreciation from continuing operations   -    63,771    -    63,771 
Depreciation from discontinued operations   -    30,636    -    30,636 
Amortization   364,167    -    -    364,167 
Accretion   592,134    -    -    592,134 
Interest expense   -    147,734    30,452    178,186 
Capital expenditures for long-lived assets  $-   $100,000   $-   $100,000