Company: RAIN
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001213900-25-035587
Chunk: 223

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-25
Form: 424B3
Chunk 223
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 |      |       - |   |
| Valuation allowance  |     |              |  667,496 |   |     |      |  90,502 |   |
| Income tax provision |     | $            |        - |   |     | $    |       - |   |

The Company’s net deferred tax assets are as follows:

| Deferred tax assets:                 |     | December 31, 
 2024         |          |   |     | 2023 |          |   |
|:-------------------------------------|:----|:-------------|---------:|:--|:----|:-----|---------:|:--|
| Start-up/Organization costs          |     | $            |  124,713 |   |     | $    |   50,795 |   |
| Intangibles                          |     |              |    1,703 |   |     |      |      885 |   |
| Stock based compensation             |     |              |  583,239 |   |     |      |        - |   |
| Net operating loss carryforwards     |     |              |  114,223 |   |     |      |  104,701 |   |
| Total deferred tax assets            |     |              |  823,877 |   |     |      |  156,381 |   |
| Valuation allowance                  |     |              | (823,877 | ) |     |      | (156,381 | ) |
| Deferred tax asset, net of allowance |     | $            |        - |   |     | $    |        - |   |

<div align='center'>F-20</div>

In assessing the realization of deferred tax assets,
management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary
differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax
assets, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information
available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has
therefore established a full valuation allowance for the years ended December 31, 2024 and 2023.

A reconciliation of the statutory federal income
tax rate (benef