Company: RAIN
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044438
Chunk: 23

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 full-month convention. The Company plans to continually adapt
to incorporate new technologies and to expand into markets that may be created by new technologies for rainfall generation. As a result,
the Company anticipates that the licensed patents and designs will have a ten-year useful life before the Company transitions and adopts
new technologies.

Intangible assets as of March 31, 2025 and December
31, 2024 were comprised of the following:

     Weighted Average   Carrying Value      Useful   March 31,   December 31,      Life (Years)   2025   2024   Intangible assets:              Licensed technology for weather modification   10   $33,000   $33,000   Purchased intellectual property for rainfall ionization equipment   10   $83,750    83,750   Less:                 Accumulated amortization        (27,242)   (24,323)  Total intangible assets, net       $89,508   $92,427  

14

RAIN ENHANCEMENT TECHNOLOGIES
HOLDCO, INC.

NOTES TO UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2025

The Company incurred approximately $3,000 in amortization
expenses for each of the three months ended March 31, 2025 and 2024, which is included in the accompanying unaudited condensed consolidated
statements of operations. The intangible assets are tested for impairment whenever events or changes in circumstances indicate the carrying
amount may not be recoverable. These conditions may include a change in the extent or manner in which the asset is being used or a change
in future operations. For the three months ended March 31, 2025 and 2024, there were no impairment charges associated with the
Company’s intangible assets.

Note 5 — 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