M&A
confidence high
sentiment neutral
materiality 0.80
Malachite Innovations files Range Environmental audited financials; acquisition price cut to $1.5M after dispute
RANGE IMPACT, INC.
- Range Environmental had 2021 revenue of $2.48M and net income $795K; 2020 revenue $1.86M, net income $69.6K.
- Initial acquisition consideration: 10M Malachite shares (valued at $0.15/sh) plus $1M cash for 80% of Range Environmental and Range Natural Resources.
- Post-closing dispute with shareholder Joshua Justice led to Separation Agreement: he returned 5M shares, transferred 10% interest, paid $250K.
- Adjusted purchase price reduced from $2.5M to $1.5M; the 5M returned shares valued at $750K and $250K cash payment deducted.