Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 746

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 4
Chunk 746
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. Theodore Anderson, a plasma physicist, whereby RWT was granted an exclusive, worldwide license under
certain of Dr. Anderson’s patents. The consideration paid for the license of $33,000, which was fully paid in November 2022,
was recorded as a finite-lived intangible asset.

Consulting Agreement for Rainfall Ionization
Equipment 

In November 2022, RWT entered into a consulting agreement, which was
later amended on December 8, 2022, to engage with its senior technology advisor (“Technical Advisor”). RWT agreed to pay the
Technical Advisor a one-time fee upon execution of the agreement (“First-time fee”) and a consulting fee of AUD 250,000 per
year (equivalent to approximately $170,000 as of the effective date), which was later revised to $186,000 in February 2025, as well as
certain bonuses that will be paid upon reaching certain milestones. In May 2023, the Technical Advisor met a significant milestone in
improving the design and a bonus of AUD 25,000 was paid in June 2023 (or approximately $13,000).

In connection with the consulting agreement, we also agreed to obtain
from the Technical Advisor an irrevocable, perpetual, non-exclusive license under certain engineering designs in connection with rainfall
ionization equipment and systems. We fully paid this amount of $83,750 in June 2023.

Related Party Transactions

Note Payable and Line of Credit from Related
Parties

On February 2, 2023, RWT issued a promissory
note (the “Note”) to its former CEO and Mr. You and Mr. de Masi for an aggregate amount of $600,000. The Note has an
annual interest rate of 5% and is currently due on demand.

On December 30, 2024, Holdco entered into the
Loan Agreement with RHY, an affiliate of Harry You, pursuant to which RHY agreed to issue an LOC to Holdco for up to $7 million, in addition
to the Rollover amount described below. The Loan has an interest rate of 5%, and interest will be due and payable in arrears quarterly. 

Prior to Closing, the outstanding amount that
Coliseum and RWT owed to Mr. You and his affiliates are: (i) approximately $1.7 million and approximately $333,000 of advances to Coliseum