Rainmaker Worldwide Inc (RAKR)

[Arthur]

Brian Collins has been a CJTF "partner" for a long while.

For the past four years, Brian Collins, an investor, has provided financing to the Company in the form of paid-in capital without the issuance of additional common shares and also in the form of notes payable to Mr. Collins. At December 31, 2015 the Company owed Mr. Collins $228,387. However, there is no assurance that this source of funding will continue or that it will be sufficient to allow the Company to continue as a going concern.

In order to finance the mineral interest claim filings and exploration costs, the Company assigned a 50% interest in its mineral interest claims to Brian Collins, doing business as Collins Mining, (“Collins”) on September 28, 2010. As a result, the Company will only recognize 50% of the revenue from any mining production that may occur in the future from the mineral interest claims and the Company will bear its share of the exploration, development and production costs.
In addition, the Company billed Collins and Collins paid the Company $20,000 for the Year ended December 31, 2014 and $44,010, $50,650, $184,060 and $20,150 during the years ended December 31, 2010, 2011, 2012, and 2013 respectively, for exploration costs incurred in his behalf. The Company has not recognized income from these payments received because substantial uncertainty exists about the recovery of the costs applicable to the mineral interests retained by the Company and because Collins is a shareholder in the Company.