Rainmaker Worldwide Inc (RAKR)

[236T568]

RAKR - a few more important things from the 2017 Annual Report:


Unaudited Financials

Cash of only $20,097 as of Dec 31, 2018

and the winner:

"The principal amount of $41,895 of the convertible notes remain outstanding with a conversion price of $0.001 per share. "

This means that this note is convertible into 41.895 million common shares of RAKR, increasing the Dec 31, 2017 Outstanding Common Shares 81.6 millon by a whopping 51%

RAKR FY2017: Expenses $5,474,891 Revenues: $0

Going Concern
The Company has incurred continuing losses from its operations and has an accumulated deficit of $7,736,766 (2016: $2,198,961).

Note 9: Marketing, Advertising and Promotion Costs
Advertising and marketing costs (including website construction and hosting) are expensed as incurred and totaled $80,152 (2016: $67,405).

Note 12: Reverse Merger
The Company had no revenue prior to the acquisition. Convertible notes payable in the amount of $214,500 was the only item on the Company’s balance sheet included in the acquisition (See note 3).

Subsequent to the completion of the reverse merger the following three liabilities belonging to CJT were identified: 1) a convertible note payable in the amount of $20,995, legal fees in the amount of $62,244 and three promissory notes totaling $79,500. The Company settled these liabilities on January 31, 2018 through the issuance of 297,552 restricted shares at prices ranging from $0.42 to $0.57 per share (See note 17).

Note 13: Private Placements
Between August 8, 2017 and October 12, 2017, the Company completed private placements raising gross proceeds of $412,000 through the issuance of 580,281 common stock at a price of $0.71 per common stock.

Note 17: Subsequent Events
Convertible Promissory Note Payable
On January 4, 2018 the Company entered into a $120,000 convertible promissory note. The note is non-interest bearing for the first 90 days and convertible into common stock of the Company during that period. On February 26, 2018 the Note was converted into 342,857 common stock at $0.35 per stock.

Private Placement
On February 26, 2018 the Company completed a private placement raising gross proceeds of $175,000 through the issuance of 500,000 common stock for $0.35 per stock.

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