2024 Q2 Form 10-Q Financial Statement

#000149315224019870 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $2.350M $3.910M $6.878M
YoY Change -41.23% 29.69% 159.95%
Cost Of Revenue $2.499M $3.428M $4.995M
YoY Change -20.76% 44.91% 198.16%
Gross Profit -$148.9K $481.5K $1.883M
YoY Change -117.62% -25.8% 94.01%
Gross Profit Margin -6.34% 12.32% 27.38%
Selling, General & Admin $697.7K $943.9K $1.603M
YoY Change 9.72% 30.0% 83.03%
% of Gross Profit 196.01% 85.11%
Research & Development $157.3K $131.6K $104.4K
YoY Change 46.38% 23.98% -19.98%
% of Gross Profit 27.34% 5.55%
Depreciation & Amortization $638.4K $638.4K $711.7K
YoY Change 86.83% 80.26% 242.8%
% of Gross Profit 132.58% 37.8%
Operating Expenses $855.0K $1.076M $1.707M
YoY Change 15.02% 29.24% 69.67%
Operating Profit -$1.004M -$594.0K $124.0K
YoY Change -1086.55% 224.19% -585.17%
Interest Expense $165.7K $175.3K -$259.0K
YoY Change 154.87% 301.63% 902.24%
% of Operating Profit -208.82%
Other Income/Expense, Net -$165.2K -$157.2K
YoY Change 154.13% 260.14%
Pretax Income -$1.169M -$751.2K -$83.02K
YoY Change -3280.3% 231.11% 35.21%
Income Tax $56.60K
% Of Pretax Income
Net Earnings -$1.226M -$751.1K -$83.02K
YoY Change -3434.1% 231.11% 61.52%
Net Earnings / Revenue -52.16% -19.21% -1.21%
Basic Earnings Per Share -$0.01 -$0.01
Diluted Earnings Per Share -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 101.0M shares 101.0M shares 89.69M shares
Diluted Shares Outstanding 101.6M shares 101.0M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.7K $667.7K $2.177M
YoY Change -65.59% 191.55% 392.08%
Cash & Equivalents $123.7K $667.7K $2.177M
Short-Term Investments
Other Short-Term Assets $42.20K $90.76K $115.3K
YoY Change -11.57% 10213.64% 13004.55%
Inventory $725.4K
Prepaid Expenses $42.20K $90.76K $115.3K
Receivables $4.389M $6.004M $7.185M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.655M $7.389M $9.725M
YoY Change 136.84% 404.88% 582.62%
LONG-TERM ASSETS
Property, Plant & Equipment $12.03M $12.66M $13.30M
YoY Change 96.04% 96.71% 120.03%
Goodwill $751.4K $751.4K $751.4K
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.980K $9.980K $9.980K
YoY Change -50.05% 12.26% 12.26%
Total Long-Term Assets $12.79M $13.42M $14.06M
YoY Change 85.16% 86.51% 106.64%
TOTAL ASSETS
Total Short-Term Assets $6.655M $7.389M $9.725M
Total Long-Term Assets $12.79M $13.42M $14.06M
Total Assets $19.44M $20.81M $23.79M
YoY Change 100.11% 140.3% 189.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.037M $1.706M $3.714M
YoY Change 163.54% 64.96% 1488.49%
Accrued Expenses $54.40K $71.67K $101.3K
YoY Change
Deferred Revenue $205.3K
YoY Change
Short-Term Debt $2.200M $2.400M $2.400M
YoY Change 83.33% 2300.0%
Long-Term Debt Due $2.617M $2.514M $2.756M
YoY Change 140.24% 145.16% 108.9%
Total Short-Term Liabilities $7.059M $6.897M $8.971M
YoY Change 130.5% 219.35% 477.66%
LONG-TERM LIABILITIES
Long-Term Debt $4.199M $5.096M $5.250M
YoY Change 21.43% 34.5% 40.45%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.199M $5.096M $5.250M
YoY Change 21.43% 34.5% 40.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.059M $6.897M $8.971M
Total Long-Term Liabilities $4.199M $5.096M $5.250M
Total Liabilities $11.26M $11.99M $14.22M
YoY Change 72.66% 101.61% 168.78%
SHAREHOLDERS EQUITY
Retained Earnings -$49.52M -$47.83M -$47.08M
YoY Change -1.75% -5.17% -6.24%
Common Stock $57.71M $56.65M $56.65M
YoY Change 7.66% 6.59% 6.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.184M $8.820M $9.567M
YoY Change
Total Liabilities & Shareholders Equity $19.44M $20.81M $23.79M
YoY Change 100.11% 140.3% 189.03%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$1.226M -$751.1K -$83.02K
YoY Change -3434.1% 231.11% 61.52%
Depreciation, Depletion And Amortization $638.4K $638.4K $711.7K
YoY Change 86.83% 80.26% 242.8%
Cash From Operating Activities -$550.5K -$1.113M -$636.1K
YoY Change -48.75% -264.7% 1704.99%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $16.28K
YoY Change -100.0% -100.0% -99.64%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$16.28K
YoY Change -100.0% -99.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $396.1K
YoY Change -36.74%
Cash From Financing Activities 6.500K -$396.1K 1.803M
YoY Change -99.48% 177.12% -53.66%
NET CHANGE
Cash From Operating Activities -550.5K -$1.113M -636.1K
Cash From Investing Activities 0.000 -16.28K
Cash From Financing Activities 6.500K -$396.1K 1.803M
Net Change In Cash -544.0K -$1.509M 1.151M
YoY Change -516.72% 607.33% -261.04%
FREE CASH FLOW
Cash From Operating Activities -$550.5K -$1.113M -$636.1K
Capital Expenditures $0.00 $0.00 $16.28K
Free Cash Flow -$550.5K -$1.113M -$652.4K
YoY Change -50.52% 1480.36% -85.83%

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<p id="xdx_84F_eus-gaap--UseOfEstimates_zJ5VocYNRfBk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_863_z3BswfsZWbfc">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2024Q1 RNGE Costs Incurred On Contracts In Progress
CostsIncurredOnContractsInProgress
920618 usd
CY2023Q4 RNGE Costs Incurred On Contracts In Progress
CostsIncurredOnContractsInProgress
425634 usd
CY2024Q1 RNGE Estimated Earnings
EstimatedEarnings
716038 usd
CY2023Q4 RNGE Estimated Earnings
EstimatedEarnings
340528 usd
CY2024Q1 RNGE Revenue Earned On Contracts In Progress
RevenueEarnedOnContractsInProgress
1636656 usd
CY2023Q4 RNGE Revenue Earned On Contracts In Progress
RevenueEarnedOnContractsInProgress
766162 usd
CY2024Q1 RNGE Contract Billings To Date
ContractBillingsToDate
1215558 usd
CY2023Q4 RNGE Contract Billings To Date
ContractBillingsToDate
518852 usd
CY2024Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
421098 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
247310 usd
CY2024Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
626425 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
247310 usd
CY2024Q1 us-gaap Contract With Customer Liability Current
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205327 usd
CY2024Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
421098 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
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247310 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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2935759 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2297324 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12663467 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13301902 usd
CY2024Q1 us-gaap Depreciation
Depreciation
638435 usd
CY2023 us-gaap Depreciation
Depreciation
1781573 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14699212 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
6 segment
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquipment
6156000 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
554900 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
199500 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
6910400 usd
CY2024Q1 us-gaap Goodwill
Goodwill
751421 usd
CY2023Q4 us-gaap Goodwill
Goodwill
751421 usd
CY2023Q4 us-gaap Goodwill
Goodwill
751421 usd
CY2022Q4 us-gaap Goodwill
Goodwill
751421 usd
CY2024Q1 us-gaap Goodwill
Goodwill
751421 usd
CY2023Q4 us-gaap Goodwill
Goodwill
751421 usd
CY2024Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
4490 usd
CY2023Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
17960 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11392544 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.47
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
6667 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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4.70
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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11385877 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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0.46
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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11185877 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.47
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11385877 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1133480 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11385877 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
11185877 shares
CY2024Q1 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000 usd
CY2022Q4 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2024-11-30
CY2022Q4 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.01 pure
CY2024Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0950 pure
CY2024Q1 us-gaap Line Of Credit
LineOfCredit
1000000 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
1000000 usd
CY2024Q1 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
mature between 2025 through 2029
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
6 segment
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
6 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3909893 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
481545 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-751149 usd
CY2024Q1 us-gaap Assets
Assets
20813520 usd
CY2024Q1 us-gaap Depreciation
Depreciation
638435 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
175258 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3014887 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
649002 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-226860 usd
CY2023Q1 us-gaap Assets
Assets
8661303 usd
CY2023Q1 us-gaap Depreciation
Depreciation
354184 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
43637 usd
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
746226 usd

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form10-q.htm Edgar Link pending
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report.css Edgar Link pending
rnge-20240331.xsd Edgar Link pending
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rnge-20240331_def.xml Edgar Link unprocessable
rnge-20240331_lab.xml Edgar Link unprocessable
rnge-20240331_pre.xml Edgar Link unprocessable
rnge-20240331_cal.xml Edgar Link unprocessable