Company: RAIN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110062
Chunk: 125

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 125
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 our ability to successfully
build and commercialize rainfall generation technology and successfully execute our sales strategy.

Recent Developments

Business Developments

In October 2025, we announced preliminary field
observations from a fog-mitigation pilot conducted in Australia using our WETA platform. The observations suggested ionization may influence
fog dissipation under certain atmospheric conditions. Based on these results, we plan to conduct expanded, instrumented pilot programs
in 2026 in Oregon, California, Utah and Colorado to further evaluate performance across different fog types and use cases, and we are
also exploring the potential application of our technology to snow enhancement. These activities remain in the research and development
stage and are not expected to generate material revenue until validation and commercialization.

In the beginning of the fourth quarter of 2025,
we began installing our first two fully built rain generation systems in the United States, which are expected to be placed in service
in November 2025 upon completion of installation.

Nasdaq Compliance Notices

On February 18, 2025, we received written notice
(the “MVLS Notice”) from the Listing Qualifications Staff (“Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”)
which notified us that, for the 30 consecutive business days ended February 14, 2025, our market value of listed securities (“MVLS”)
closed below the $50,000,000 MVLS threshold required for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(A)
(the “MVLS Rule”). Also on February 18, 2025, we received written notice (the “MVPHS Notice”) from the Staff that
for the 30 consecutive business days ended February 14, 2025, our market value of publicly held securities (“MVPHS”) closed
below the $15,000,000 MVPHS threshold required for continued listing on Nasdaq under Nasdaq Listing Rule 5450(b)(2)C) (the “MVPHS
Rule”). In accordance with Nasdaq Listing Rule 5810(c)(3)(D), we had 180 calendar days, or until August 18, 2025, to regain compliance
with each of the MVLS Rule and the MVPHS Rule.

On August 19, 2025, we received a notice (the
“Notice”) from the Staff indicating that we had not regained compliance with either the MVLS Rule or the MVPHS Rule