Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 1010

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 6
Chunk 1010
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 Combination shares 

    RWT Shares 
     2,125,539  
     57,752 
  
    Issuance of shares in connection with PIPE 
     118,557  
     - 
  
    Class A common stock issued for services 
     5,000  
     - 
  
    Common Stock immediately after the Business Combination 
     7,528,761  
     57,752 

The number of RWT shares was determined as follows:

    Legacy 
RWT Shares  
    RWT Shares after conversion ratio 
  
    Preferred Stock 
     1,232  
     1,766,554 
  
    Class A Common Stock 
     250  
     358,985 
  
    Class B Common Stock 
     40  
     57,752 
  
    Total 
     1,522  
     2,183,291 

F-15

Note 4 — Intangible Assets

Patent License

On November 21, 2022, the Company entered
into a license agreement with Dr. Theodore Anderson, a plasma physicist, whereby the Company was granted an exclusive, worldwide
license under certain of Dr. Anderson’s patents. The consideration paid for the license of $33,000, which was fully paid in
November of 2022, was recorded as a finite-lived intangible asset.

Consulting Agreement for Rainfall Ionization
Equipment

In November 2022, the Company entered into a consulting agreement,
which was later amended on December 8, 2022, to engage its senior technology advisor (“Technical Advisor”). The Company
agreed to pay the Technical Advisor a one-time fee upon execution of the agreement (“First-time fee”) and a consulting fee
of AUD 250,000 per year (equivalent to approximately $170,000 as of the effective date), which was later revised to $186,000 in February
2025, as well as certain success fees that will be paid upon reaching certain milestones. In May 2023, the Technical Advisor met
a significant milestone in improving the design and a bonus of AUD 25,000 was paid in June 2023 (equivalent to approximately $13,000).

In connection with the consulting agreement, the Company also agreed
to obtain from the Technical Advisor an irrevocable, perpetual, non-exclusive license under certain engineering designs in connection