Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 610

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 2
Chunk 610
---
 
     7,528,761  
     57,752 

The number of RWT shares was determined as follows:

    Legacy 
RWT Shares  
    RWT Shares after conversion ratio 
  
    Preferred Stock 
     1,232  
     1,766,554 
  
    Class A Common Stock 
     250  
     358,985 
  
    Class B Common Stock 
     40  
     57,752 
  
    Total 
     1,522  
     2,183,291 

F-15

Note 4 — Intangible Assets

Patent License

On November 21, 2022, the Company entered
into a license agreement with Dr. Theodore Anderson, a plasma physicist, whereby the Company 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 of 2022, was recorded as a finite-lived intangible asset.

Consulting Agreement for Rainfall Ionization
Equipment

In November 2022, the Company entered into a consulting agreement,
which was later amended on December 8, 2022, to engage its senior technology advisor (“Technical Advisor”). The Company
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 success fees 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 (equivalent to approximately $13,000).

In connection with the consulting agreement, the Company 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. The Company fully paid the amount of $83,750 in June 2023.

Intangible Assets

Intangible assets as of December 31, 2024 and 2023 are composed
of licenses under certain patents and designs for weather modification and rainfall ionization equipment to Dr. Anderson and the Technical
Advisor as discussed above.