Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 128

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 128
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, partially offset by minimal interest income earned from operating cash.

For the nine months ended September 30, 2024, RET had net loss of approximately $2.5 million, which consisted mainly of general and administrative expenses of approximately $2.5 million, minimal franchise tax expenses and interest expense in connection with the Note of approximately $22,000, partially offset by minimal interest income earned from operating cash.

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For the three months ended September 30, 2023, RET had net loss of approximately $35,000, which consisted of general and administrative expenses of approximately $28,000, minimal franchise tax expenses and interest expense in connection with the Note of approximately $7,500, partially offset by minimal interest income earned from operating cash.

For the nine months ended September 30, 2023, RET had net loss of approximately $387,000, which consisted mainly of general and administrative expenses of approximately $367,000, minimal franchise tax expenses and interest expense in connection with the Note of approximately $20,000, partially offset by minimal interest income earned from operating cash.

For the year ended December 31, 2023, RET had net loss of approximately $437,000, which consisted of general and administrative expenses of approximately $410,000, minimal franchise tax expenses and interest expense in connection with the Note of approximately $27,000, partially offset by minimal interest income earned from operating cash.

For the period from November 10, 2022 (inception) through December 31, 2022, RET had net loss of approximately $1.3 million, which consisted mainly of general and administrative expenses (of which approximately $970,00 was for stock based compensation expenses to officers).

Going Concern Consideration

As of September 30, 2024, RET had approximately $240,000 in cash and had a working capital deficit of approximately $1.3 million.

RET’s liquidity needs through September 30, 2024 were provided from proceeds from the issuance of stocks of approximately $525,000 (excluding $450,000 in subscription receivable), loans from certain officers and investors pursuant to the promissory note for an aggregate amount of $600,000 and advances from certain investor. As of September 30, 2024, RET has approximately $204,000 in outstanding amount for advances received from such investor. RET expects that its operating expenses and investment in asset development and technologies will continue to increase.

RET’s primary uses of cash