Company: RAIN
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044438
Chunk: 0

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item 1. Unaudited Condensed Consolidated Financial Statements

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

    March 31, 2025  
    December 31,  2024 

    (unaudited)  

    Assets: 

    Current assets: 

    Cash 
    $273,125  
    $32,604 
  
    Prepaid expenses 
     332,398  
     12,335 
  
    Deferred financing costs 
     75,000  
     75,000 
  
    Subscription receivable 
     -  
     650,000 
  
    Total current assets 
     680,523  
     769,939 
  
    Equipment 
     414,034  
     414,034 
  
    Construction in-process equipment 
     139,387  
     - 
  
    Intangible assets, net 
     89,508  
     92,427 
  
    Total Assets 
    $1,323,452  
    $1,276,400 

    Liabilities and Stockholders' Deficit: 

    Current liabilities: 

    Accounts payable 
    $2,176,497  
    $1,946,931 
  
    Accrued expenses 
     1,125,719  
     700,000 
  
    Line of credit - related party 
     3,847,278  
     3,110,149 
  
    Note payable from related parties 
     400,000  
     400,000 
  
    Accrued interest - related parties 
     85,274  
     38,192 
  
    Shortfall payment liability 
     20,636  
     20,636 
  
    Total current liabilities 
     7,655,404  
     6,215,908 
  
    Derivative warrant liabilities 
     440,000  
     350,000 
  
    Total liabilities 
     8,095,404  
     6,565,908 

    Commitments and Contingencies 

    Stockholders' Deficit: 

    Preferred stock, $0.0001 par value; 1,000,000 shares authorized, respectively; no shares issued and outstanding as