Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 294

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 294
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 performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements and disclosures.

In December 2023, the FASB issued ASU No. 2023-09 (Topic 740), Improvements to Income Tax Disclosures. The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as an expansion of other income tax disclosures. The ASU is effective on a prospective basis for annual reporting periods beginning after December 15, 2024. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements and related disclosures.

Note 4 — Intangible Assets

Intangible assets as of September 30, 2024 and December 31, 2023 are composed of licenses under certain patents and designs for weather modification and rainfall ionization equipment.

Management anticipates that Equipment utilizing certain of these patents and designs will become operational and placed in service within one year from this filing. The Company amortizes those assets on a straight-line basis over the estimated useful lives of the assets under full-month convention. The Company plans to continually adapt to incorporate new technologies and to expand into markets that may be created by new technologies for rainfall generation. As a result, the Company anticipates that the licensed patents and designs will have a ten-year useful life before the Company transitions and adopt new technologies.

Intangible assets as of September 30, 2024 and December 31, 2023 was composed of the following:

|                                            |     | Weighted 
  Average | Useful  
 Life    
 (Years) | Carrying 
 Value    | September 30, 
          2024 |   |     |   | December 31, 
         2023 |   |
|:-------------------------------------------|:----|---------:|:--------|:---------|--------------:|:--|:----|:--|-------------:|:--|
| Intangible assets:                         |     |          |         |          |               |   |     |   |              |   |
| Licensed                                   
 technology for weather modification        |     |       10 |         | $        |        33,000 |   |     | $ |