Company: RAIN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110062
Chunk: 88

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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ases providing services to the Company prior to the lapse of the restrictions or does not meet
certain performance conditions.

17

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

SEPTEMBER 30, 2025

The following summarizes the Company’s restricted
stock award activity and the RSAs outstanding:

         Weighted
Average   Weighted Average Remaining      Shares   Grant
Date
Fair Value   Contractual 
Life (in years)   Unvested at June 30, 2025   -   $               -        Granted   602,320    4.40        Forfeited   -    -        Vested   -    -        Unvested at September 30, 2025   602,320    4.40    0.75  

The aggregate fair value was calculated based on the closing market price of the Company’s common stock on the date of grant and
is recognized ratable over the vesting period. The Company recognized approximately $349,000 of stock compensation expense within the general and administrative expenses in the accompanying unaudited condensed
consolidated financial statements for the three and nine months ended September 30, 2025. As of September 30, 2025, total unrecognized
compensation cost related to RSAs was approximately $2.3 million, which is expected to be recognized over a remaining weighted-average
vesting period of 0.75 years.

Note 10 — Segment
Information

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources
and assess performance.

The Company operates and manages the business
as one reportable and operating segment, which is the business of developing, manufacturing and commercializing ionization rainfall
generation technology. The Company’s Chief Executive Officer has been identified as the chief operating decision
maker (“CODM”), who reviews the operating results for the Company