v3.26.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

16. SEGMENT INFORMATION

 

ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about services, categories, business segments and major customers in financial statements. The Company has two reportable segments that are based on the following business units: (i) Range Land and (ii) Range Services. Range Reclaim, Range Security and Range Water, which had been previously reported as separate operating business segments are now captured within the Range Services operating business segment. As described in Note 4, the Company’s Graphium Biosciences segment was reported as discontinued operations during the third quarter of 2024, and accordingly, the results of this segment are excluded from the table below, which only reflects continuing operations for all periods presented. In accordance with the “Segment Reporting” Topic of ASC 280, the Company’s chief operating decision-maker (“CODM”) has been identified as the Company’s Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics, nature of products and services, and procurement, manufacturing and distribution processes. For each reportable segment, the CODM regularly reviews: (i) segment revenue, (ii) segment operating income or loss, (iii) segment general and administrative expenses, (iv) segment net income or loss, and (v) segment capital investments. The CODM reviews this information to assess segment performance, allocate capital and other resources, and evaluate strategic and operational decisions.

 

 

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

 

● Range Land – mine land acquired, reclaimed and repurposed for next generation uses
   
● Range Services – services in support of reclamation and repurposing of acquired mine land
   

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

 

Summarized financial information concerning the Company’s reportable segments (excluding discontinued operations) is shown below:

 

By Categories

 

   Range Land   Range Services   Corporate   Total 
   For the year ended December 31, 2025 
   Range Land   Range Services   Corporate   Total 
                 
Coal royalties  $1,960,714   $-   $-   $1,960,714 
Consulting fees   750,000    -    1,000,000    1,750,000 
Total sales  2,710,714   -   1,000,000   3,710,714 
Operating expenses   3,587,157    445,403    1,418,018    5,450,578 
Operating income (loss) from continuing operations   (876,443)   (445,403)   (418,018)   (1,739,864)
Net income (loss) from continuing operations   21,054,501                 (1,438,963)   (422,699)   19,192,839 
                     
Total assets   122,050,484    158,192    1,028,016    123,236,692 
                     
Depreciation   -    78,383    -    78,383 
Amortization   1,098,737    -    -    1,098,737 
Accretion   

1,912,968

    -    -    

1,912,968

 
Interest expense   -    163,618    88,661    252,279 
Capital expenditures for long-lived assets  $-   $100,000   $-   $100,000 

 

   Range Land   Range Services   Corporate   Total 
   For the year ended December 31, 2024 
   Range Land   Range Services   Corporate   Total 
                 
Coal royalties  $-   $-   $-   $- 
Consulting fees   -    -    -    - 
Total sales  -   -   -   - 
Operating expenses   28,341    987,213    1,136,984    2,152,538 
Operating income (loss) from continuing operations   (28,341)   (987,213)   (1,136,984)   (2,152,538)
Net income (loss) from continuing operations   (28,341)   (1,803,494)   (1,346,324)   (3,178,159)
                     
Total assets   1,008,898    1,813,250    7,143    2,829,291 
                     
Depreciation   -    89,947    -    89,947 
Amortization   -    -    -    - 
Interest expense   -    -    255,972    255,972 
Capital expenditures for long-lived assets  $-   $-   $-   $-