Company: RAIN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110062
Chunk: 79

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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, 2024 were comprised of the following:

         Carrying Value      Weighted Average Useful Life 
(Years)   September 30, 2025   December 31, 2024   Intangible assets:                 Licensed technology for weather modification   10   $33,000   $33,000   Purchased intellectual property for rainfall ionization equipment   10   $83,750    83,750   Less:                 Accumulated amortization        (33,080)   (24,323)  Total intangible assets, net       $83,670   $92,427  

The Company incurred approximately $3,000 and
$9,000 in amortization expenses for each of the three and nine months ended September 30, 2025 and 2024, which is included in the
accompanying unaudited condensed consolidated statements of operations. The intangible assets are tested for impairment whenever events
or changes in circumstances indicate the carrying amount may not be recoverable. These conditions may include a change in the extent or
manner in which the asset is being used or a change in future operations. For the three and nine months ended September 30, 2025 and 2024,
there were no impairment charges associated with the Company’s intangible assets.

Note 5 — Commercial Agreements

Leases

On September 10, 2025, the Company entered into
a lease agreement to lease a parcel of land in Colorado (“Colorado Lease”), which served as its installation site for the
Company’s first Equipment unit. The lease commencement date is the date selected by the Company within 30 days following the applicable
government hearing granting permission for use. The Company obtained its permit on October 29, 2025, and selected November 1, 2025 as
the lease commencement date. The lease has an initial term of a one year and includes four options to extend the term, each for an additional
one-year period. Under the Colorado Lease, the Company is required to make an upfront payment of $2,500 upon commencement date and pay
a monthly base rate of $2,500, which will automatically increase for each extension term at the rate of 5%.

On September 21, 2025, the Company entered