Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 306

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 306
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 |     |          | (628,206 | ) |     |            |  471,825 |   |     |          | (156,381 | ) |
| Income tax benefit  |     |          |        0 |   |     |            |        0 |   |     |          |        0 |   |

As of December 31, 2022 and for the period from November 10, 2022 (inception) through December 31, 2022:

|                     |     | As       
 Reported |          |   |     | Adjustment |          |   |     | As       
 Restated |         |   |
| Deferred tax asset  |     |          |  269,605 |   |     |            | (203,726 | ) |     |          |  65,879 |   |
| Valuation Allowance |     |          | (269,605 | ) |     |            |  203,726 |   |     |          | (65,879 | ) |
| Income tax benefit  |     |          |        0 |   |     |            |        0 |   |     |          |       0 |   |

The disclosures required by FASB ASC 740, “Income Taxes” are added in Note 8.

Note 3 — Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of these financial statements and the reported amounts of expenses during the reporting periods.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of these financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Significant estimates included stock-based compensation expenses incurred in 2022 and 2023 and useful lives on intangible assets and equipment.

<div align='center'>F-78

Rain Enhancement Technologies, Inc.

Notes to Financial Statements
December 31, 2023 AND 2022</div>

Fair Value of Financial Instruments

The fair value of the Company’s assets