Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 314

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 314
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b) one divided by the total preferred stock then outstanding. Each share of Series A preferred stock shall be convertible, at the option of the holder at any time or automatically upon a sale of all outstanding stock or a merger, into share of common stock on a one-to-one basis.

On April 14, 2023, the Company issued 200 shares of the Company’s of Series A preferred stock to Rainwater, LLC for a purchase price of $8,000. The Company has 200 and 0 shares of Series A preferred stock outstanding as of December 31, 2023 and 2022, respectively.

Common Stock

As of December 31, 2023 and 2022, the Company was authorized to issue 4,800 and 5,000 shares of common stock, respectively, with a par value of $0.0001 per share.

On December 1, 2022, the Company issued 1 share of common stock to Rainwater, LLC for a purchase price of $100,000, which was recapitalized for 200 shares on December 6, 2022 and retroactively restated. On December 9, 2022, the Company issued an aggregate of 1,500 shares of the Company’s common stock to two of its executive officers for services performed by them for the Company. The Company estimated the fair value of such shares as approximately $970,000 based on probability-weighted discounted cash flow model and recognized stock-based compensation expense for such services to its executive officers within general and administrative expense in the accompanying statements of operations.

On April 14, 2023, the Company issued 1,110 shares of the Company’s common stock to Rainwater, LLC for a purchase price of $1,998. The Company recognized the excess fair value of approximately $3,800 based on a probability-weighted expected return method in stock-based compensation expense within general and administrative expense in the accompanying statements of operations.

<div align='center'>F-83

Rain Enhancement Technologies, Inc.

Notes to Financial Statements
December 31, 2023 AND 2022</div>

On April 18, 2023, two officers resigned from their positions and forfeited 1,500 shares of common stock for no consideration. As of December 31, 2023 and 2022, there were 1,310 and 1,700 shares of common stock issued and outstanding, respectively.

Note 8 — Income Taxes

The income tax provision