SEGMENT INFORMATION | 12. SEGMENT INFORMATION ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services, categories, business segments and major customers in financial statements. The Company has five The five reportable segments that result from applying the aggregation criteria are as follows: ● Range Reclaim – land reclamation, water restoration , incidental mining and land repurposing ● Range Water - biochar product development and water solutions business ● Range Security – security services on mine land being reclaimed and repurposed for non-fossil fuel uses ● Range Land – mine land being acquired, reclaimed and repurposed for non-fossil fuel uses ● Drug Development – glycosylated cannabinoid drug development program The Company operated two reportable business segments during the three and nine months ended September 30, 2022, the Drug Development and Range Reclaim segments. The other business segments began operating in 2023. The Company had no inter-segment sales for the periods presented. Summarized financial information concerning the Company’s reportable segments is shown as below: SCHEDULE OF FINANCIAL INFORMATION OF REPORTABLE SEGMENT By Categories For the three months ended September 30, 2023 Range Reclaim Range Water Range Security Range Land Drug Development Corporate Total Sales $ 5,299,415 $ - $ 156,218 $ - $ - $ - $ 5,455,633 Cost of services 2,514,503 - 83,364 - - - 2,597,867 Gross profit 2,784,912 - 72,854 - - - 2,857,766 Net income (loss) 4,048,527 (15,376 ) 50,555 - (140,840 ) (538,691 ) 3,404,175 Total assets 17,227,868 14,498 136,835 1,009,988 11,859 443,441 18,844,489 Depreciation 370,404 640 2,891 - - - 373,935 Interest expense 93,933 - - - - 41,534 135,467 Tax expense - - - - - - - Capital expenditures for long-lived assets $ 349,898 $ - $ - $ 976,858 $ - $ - $ 1,326,756 For the nine months ended September 30, 2023 Range Reclaim Range Water Range Security Range Land Drug Development Corporate Total Sales $ 12,170,394 $ - $ 298,393 $ - $ - $ - $ 12,468,787 Cost of services 7,957,216 - 159,702 - - - 8,116,918 Gross profit 4,213,178 - 138,691 - - - 4,351,869 Net income (loss) 4,669,092 (53,656 ) 71,000 - (354,461 ) (1,117,898 ) 3,214,077 Total assets 17,227,868 14,498 136,835 1,009,988 11,859 443,441 18,844,489 Depreciation 1,061,569 1,066 7,210 - - - 1,069,845 Interest expense 199,744 - 224 - - 44,133 244,101 Tax expense - - - - - - - Capital expenditures for long-lived assets $ 1,066,389 $ 15,350 $ 52,674 $ 976,858 $ - $ - $ 2,111,271 For the three months ended September 30, 2022 Range Reclaim Drug Development Corporate Total Revenue $ 1,547,258 $ - $ - $ 1,547,258 Cost of services 1,189,475 - - 1,189,475 Gross profit 357,783 - - 357,783 Net income (loss) 213,865 (106,744 ) (226,737 ) (119,616 ) Total assets 3,518,019 8,334 681,298 4,207,651 Capital expenditures for long-lived assets $ 135,495 $ - $ - $ 135,495 For the nine months ended September 30, 2022 Range Reclaim Drug Development Corporate Total Revenue $ 2,186,617 $ - $ - $ 2,186,617 Cost of services 1,763,882 - - 1,763,882 Gross profit 422,735 - - 422,735 Net income (loss) 153,719 (340,297 ) (824,198 ) (1,010,776 ) Total assets 3,518,019 8,334 681,298 4,207,651 Capital expenditures for long-lived assets $ 1,243,328 $ - $ - $ 1,243,328 |