Company: RAIN
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044438
Chunk: 89

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 89
---
  
    $21,028 
  
    Other significant non-cash items: 

    Amortization expenses 
     2,919  
     2,919 
  
    Loss from operations 
     (1,345,401) 
     (23,947)
  
    Total other expenses 
     (137,043) 
     (7,393)
  
    Net loss 
    $(1,482,444) 
    $(31,340)

As the Company has not earned any revenue,
the key measures of segment profit or loss reviewed by the Company’s CODM are general and administrative expenses to monitor,
manage and forecast cash to ensure enough capital is available for working capital needs. The CODM also reviews general and
administrative costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and
budget.

18

RAIN ENHANCEMENT TECHNOLOGIES
HOLDCO, INC.

NOTES TO UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2025

Note 10 — Subsequent Events

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date through May 15, 2025, the date at which the unaudited condensed consolidated financial statements
were issued. Based upon this review, the Company did not identify any subsequent events that required adjustment or disclosure in the
unaudited condensed consolidated financial statements, except as noted below.

Subsequent to March 31, 2025, the Company drew
an additional amount of approximately $554,000 under the LOC.

On April 1, 2025, the Board increased the size
of the Board from five to seven directors and appointed Mr. Marcus Peperzak and Mr. Robert Reardon to the Board to fill the resulting
vacancies.

In connection with their appointments to the
Board, Mr. Reardon and Mr. Peperzak each entered into the Director Agreements which are the form of agreement adopted by the Board in
April 2025 to govern the terms of service and compensation of the Company’s non-employee directors. Additionally, effective as
of April 4, 2025, the Company entered into Director Agreements with Lyman Dickerson, Alexandra Steele, and Christopher Riley, each non-employee
members of the Board. Pursuant to the terms of the Director Agreements, the Company agreed to