RAIN — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• On March 11, 2026, our Compensation Committee and the Board approved repayment of the amounts due under the Loan Agreement of up to 30% of any amount received by us from any potential future capital raise net of any underwriting, legal, and accounting fees and related costs.

• On June 5, 2026, we entered into an agreement to convert a portion of the Loan owed to RHY and its affiliates (the “Conversion Agreement”), pursuant to which an aggregate of $4,000,000 of Loan was converted into 1,612,903 shares of Class A Common Stock at a price per share equal to the volume-weight…

• As of June 30, 2026 and December 31, 2025, we had outstanding balance of approximately $8.5 million and $9.1 million (including the $3.1 million Rollover) under the Loan Agreement, respectively.

• Subsequent to June 30, 2026, we borrowed additional amounts under the LOC in the aggregate amount of approximately $426,000, increasing the outstanding balance under the LOC to approximately $8.9 million. On August 10, 2026, the Company repaid approximately $555,000 of accrued interest under the LOC…

• In July 2026, the Colorado Water Conservation Board, the Colorado River District, and the Upper Yampa Water Conservancy District publicly supported our pending application for a weather enhancement pilot project in Colorado. If approved, the project would represent our first commercial deployment of…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• As of December 31, 2025, we had approximately $9.1 million outstanding under the Loan Agreement, consisting of approximately $3.1 million of rollover amounts and approximately $6.0 million of additional borrowings during 2025.

• On March 11, 2026, the Compensation Committee and the Board approved repayment of the amounts due under the Loan Agreement of up to 30% of any amount received by us from any potential future capital raise net of any underwriting, legal, and accounting fees and related costs.

• Effective as of March 31, 2026, the Company and RHY entered into an amendment to the Loan Agreement to increase the amount that could be borrowed under the Loan Agreement from $7,000,000 to $10,000,000.

• RET currently has two rain and snowfall generation systems installed and placed in service in the United States in November 2025 and are currently being used to support field observations, data collection and ongoing research activities related to our rainfall generation technology.

• For the three months ended March 31, 2025, we had net loss of approximately $1.5 million, which consisted of general and administrative expenses of approximately $1.3 million, amortization expenses of approximately $3,000, loss in change in fair value of warrant liability of $90,000, and interest ex…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• We continue to implement its remediation plan to address the material weakness, including enhancing its internal controls over the accounting and review of recurring transactions, including insurance premium financing arrangements. Specifically, we are enhancing our accounting policies and implement…

• Management continued implementing and operating the enhanced controls described above during the quarter ended June 30, 2026.

• Other than these remediation efforts, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter ended June 30, 2026 that materially affected, or are reasonably likely to materially affect, our…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, in connection with the preparation of our consolidated financial statements as of and for the year ended December 31, 2025, the Audit Committee, in consultation with management, determined that we should …

• While we have processes to identify and appropriately apply applicable accounting requirements, we intend to take steps to remediate this material weakness, including enhancing its internal controls over the accounting and review of recurring transactions, including insurance premium financing arran…

• Management continued implementing and operating the enhanced controls described above resulting from an error in the accounting for financed insurance premiums as of March 31, 2025 and June 30, 2025.

• Other than these remediation efforts, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter ended March 31, 2026 that materially affected, or are reasonably likely to materially affect, ou…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• We are currently in a period of economic uncertainty and capital markets disruption, which has been significantly impacted by recent escalation of conflicts in the Middle East, changing trade policies, ongoing military conflicts, geopolitical instability, and rising inflation and interest rates.

• U.S. and global markets have recently been experiencing volatility and disruption caused by the recent escalation of conflicts in the Middle East, including the U.S.-Israel and Iran war (“Iran War”), the sustained Russia-Ukraine war and related economic sanctions, economic uncertainty as a result of…

• RET’s future success depends in part on recruiting and retaining key personnel and failure to do so may make it more difficult for us to execute the business strategy.

• RET is dependent upon the continued services of key personnel, including members of its executive management team. The loss of any one of these individuals could disrupt our operations or its strategic plans. Additionally, RET’s future success will depend on, among other things, its ability to hire …