Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 284

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1A
Chunk 284
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 by
management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide
a reasonable basis for our opinion.

/s/ WithumSmith+Brown, PC

We have served as the Company’s auditor since
2022.

New York, New York

April 15, 2025

PCAOB ID No. 100

F-2

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.
AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

    December 31, 

    2024  
    2023 
  
    Assets: 

    Current assets: 

    Cash 
    $32,604  
    $37,345 
  
    Prepaid expenses 
     12,335  
     8,136 
  
    Deferred financing costs 
     75,000  
     - 
  
    Subscription receivable 
     650,000  
     - 
  
    Total current assets 
     769,939  
     45,481 
  
    Equipment 
     414,034  
     368,206 
  
    Intangible assets, net 
     92,427  
     104,102 
  
    Total Assets 
    $1,276,400  
    $517,789 

    Liabilities and Stockholders’ Deficit: 

    Current liabilities: 

    Accounts payable 
    $1,946,931  
    $505,383 
  
    Accrued expenses 
     700,000  
     10,750 
  
    Line of credit - related party 
     3,110,149  
     - 
  
    Note payable and advances from related parties 
     400,000  
     611,265 
  
    Accrued interest - related parties 
     38,192  
     27,041 
  
    Tax payable 
     -  
     225 
  
    Shortfall payment liability 
     20,636  
     - 
  
    Total current liabilities 
     6,215,908  
     1,154,664 
  
    Derivative warrant liabilities 
     350,000  
     - 
  
    Total liabilities 
     6,565,908  
     1,154,664 

    Commitments and