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Rainmaker Worldwide Inc. has submitted its 10-K filing for the fiscal year ended December 31, 2024. The company specializes in energy-efficient freshwater production and purification technologies.
The filing details Rainmaker's financial performance, reporting a revenue of $143,725 for 2024, an increase from $78,912 in 2023. Despite this increase, the company reported a net loss of $1,056,242 for 2024, which is a reduction from the $1,229,753 loss in 2023.
Operating expenses were a significant factor in the company's losses, with consulting expenses, stock option expenses, and interest expenses being the largest contributors. The company also reported impairment expenses and losses from equity method investments.
Rainmaker's balance sheet shows total assets of $50,116 as of December 31, 2024, compared to $30,725 the previous year. The company continues to face challenges with recurring losses and limited resources to cover operating costs.
The filing notes the company's strategic focus on expanding its product range through acquisitions and partnerships. In 2024, Rainmaker acquired a 60% stake in Miranda Environmental and Water Treatment Technologies, enhancing its water treatment capabilities.
Rainmaker's business model involves strategic partnerships with local technology partners and distributors to deploy its water production and purification systems. The company aims to provide sustainable water solutions globally.
The company faces risks related to its limited commercial operating history, dependence on key personnel and suppliers, and the need for additional financing to continue operations. The auditor's report for 2024 expressed substantial doubt about Rainmaker's ability to continue as a going concern.
Rainmaker's stock is quoted on the OTC: Pink, and the company has not paid any cash dividends to date. The filing notes that the company does not anticipate paying dividends in the foreseeable future.
The filing also highlights Rainmaker's focus on the global water market, which is projected to expand significantly in the coming years. The company aims to address the demand for fresh water in underserved regions through its innovative technologies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rainmaker Worldw annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.