$RAKR
Rainmaker Worldwide Inc.

2023 Q3 Form 10-Q Financial Statement

#000149315223028281 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $78.91K
YoY Change
Cost Of Revenue $61.94K
YoY Change
Gross Profit $16.97K
YoY Change
Gross Profit Margin 21.51%
Selling, General & Admin $90.89K
YoY Change
% of Gross Profit 535.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $90.89K $181.1K $190.1K
YoY Change -70.63% -4.72% 75.43%
Operating Profit -$73.92K -$181.1K -$190.1K
YoY Change -76.11% -4.72% 75.43%
Interest Expense -$81.38K
YoY Change -1092.44%
% of Operating Profit
Other Income/Expense, Net -$120.0K -$131.0K -$86.07K
YoY Change -16.79% 52.24% 121.71%
Pretax Income -$194.0K -$312.1K -$276.1K
YoY Change -57.25% 13.03% 87.64%
Income Tax
% Of Pretax Income
Net Earnings -$194.0K -$312.1K -$276.1K
YoY Change -57.25% 13.03% 87.64%
Net Earnings / Revenue -245.8%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 346.3M shares 246.4M shares 144.4M shares
Diluted Shares Outstanding 357.9M shares 276.2M shares 144.4M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $370.00
YoY Change
Cash & Equivalents $368.00 $33.59K $1.002K
Short-Term Investments
Other Short-Term Assets $25.00K
YoY Change
Inventory $255.0K
Prepaid Expenses $25.00K $51.75K $10.00K
Receivables
Other Receivables $5.493K $5.392K
Total Short-Term Assets $30.86K $90.73K $346.1K
YoY Change -91.86% -73.78%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $30.86K $90.73K $346.1K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $30.86K $90.73K $346.1K
YoY Change -91.86% -73.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $172.6K $176.7K $89.34K
YoY Change 95.85% 97.76%
Accrued Expenses $70.48K $894.7K $594.3K
YoY Change -89.45% 50.56%
Deferred Revenue
YoY Change
Short-Term Debt $73.52K
YoY Change
Long-Term Debt Due $3.973M
YoY Change
Total Short-Term Liabilities $10.61M $10.58M $6.534M
YoY Change 56.87% 61.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $3.106M
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.61M $10.58M $6.534M
Total Long-Term Liabilities $0.00 $3.106M
Total Liabilities $10.61M $10.58M $9.640M
YoY Change 7.5% 9.71%
SHAREHOLDERS EQUITY
Retained Earnings -$73.78M -$73.59M -$71.48M
YoY Change 2.57% 2.95%
Common Stock $63.05M $62.95M $61.88M
YoY Change 1.6% 1.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.73M -$10.64M -$9.294M
YoY Change
Total Liabilities & Shareholders Equity $30.86K $90.73K $346.1K
YoY Change -91.86% -73.78%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$194.0K -$312.1K -$276.1K
YoY Change -57.25% 13.03% 87.64%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$139.5K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 145.9K
YoY Change
NET CHANGE
Cash From Operating Activities -139.5K
Cash From Investing Activities
Cash From Financing Activities 145.9K
Net Change In Cash 6.390K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$139.5K
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Share Based Compensation
ShareBasedCompensation
69474 usd
us-gaap Share Based Compensation
ShareBasedCompensation
43991 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
113669 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
327153 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-135 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
44 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
21364 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
5002 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
351728 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
327457 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
34231 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-106304 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-119449 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
150000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
56000 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
-50000 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
108750 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
11268 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
10081 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
23090 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
145919 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
96928 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-13155 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19186 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
26460 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3335 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7130 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4337 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33590 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1002 usd
RAKR Receipts Of Prepaid Inventory
ReceiptsOfPrepaidInventory
80000 usd
us-gaap Stock Issued1
StockIssued1
363048 usd
RAKR Initial Derivative Liabilitydiscount
InitialDerivativeLiabilitydiscount
73594 usd
RAKR Reattribution Of Aoci For Disposal Of Foreign Subsidiary
ReattributionOfAociForDisposalOfForeignSubsidiary
359494 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80D_eus-gaap--NatureOfOperations_zugIxZpjmqJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="S1_007"></span>Note 1: <span id="xdx_827_zhxo8S17Bk6e">Nature of Operations and Going Concern</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature of Operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rainmaker Worldwide Inc. (“Rainmaker” or the “Company” or “RAKR”) is a Nevada company which previously operated Rainmaker Worldwide Inc. (Ontario) (“RWI”) until March 31, 2023, with its head office in Peterborough, Ontario, Canada. The Company distributes two main types of energy-efficient, fresh water-producing technologies: (1) Air-to-Water (“AW”), which harvests fresh water from humidity in the atmosphere, and (2) Water-to-Water (“WW”), which transforms seawater or polluted water into drinking water. The technology can be wind, solar, or use conventional power sources (grid or generator), is deployable anywhere, and leaves no carbon trace if renewable resources are deployed.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rainmaker holds a <span id="xdx_90B_eus-gaap--DiscontinuedOperationEquityMethodInvestmentRetainedAfterDisposalOwnershipInterestAfterDisposal_pid_dp_uPure_c20230101__20230630__dei--LegalEntityAxis__custom--RainmakerHollandBVMember_zpE3TcbTg3rl" title="Ownership interest after disposal">12</span>% interest in Rainmaker Holland B.V. (“RHBV”) which consists of the innovation and manufacturing center located in Rotterdam, Netherlands. RAKR will purchase equipment on a favorable cost-plus formula.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective April 1, 2023, Rainmaker (RAKR) divested <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230401__srt--RangeAxis__srt--MaximumMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RainmakerHollandBVMember_zMLYCkoTxadi" title="Equity method investment, ownership percentage">60</span>% interest in Rainmaker Worldwide Inc. (Ontario) (RWI) and continues to hold a <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230401__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--RainmakerHollandBVMember__srt--RangeAxis__srt--MinimumMember_zBgzYiyNMi4a" title="Equity method investment, ownership percentage">40</span>% interest. RWI will be the driver of operations in Canada, the Caribbean, Central America and South America. RAKR will retain a management participation and will retain one out of three board seats. The rationale for the divestiture and restructuring was to have RWI serve as a vehicle to acquire complementary technology and companies. As a private company, acquisitions, including the current Miranda acquisition which is in process, become easier to finance and operate. The new majority owners have agreed to provide the necessary working capital to affect this and future transactions. In addition, with majority Canadian owners and a technology history, RWI is now eligible for a large range of grants and preferable financing options that were not previously accessible with a Canadian company that was wholly owned by a US based public company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company History</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RWI was incorporated on <span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_dd_c20230101__20230630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zGTrItETMSM2" title="Date of incorporation">July 21, 2014</span>, under the Ontario Business Corporations Act. On July 3, 2017, RWI shareholders completed a share exchange with the Company (the “Merger”) pursuant to a share exchange agreement dated June 28, 2017 (the “Share Exchange Agreement”) among the Company, RWI and RWI’s 45 shareholders. Upon completion of the Merger, and in accordance with the terms and provisions of the Share Exchange Agreement, the Company acquired an aggregate of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20230101__20230630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zOlt0vxBba2" title="Shares acquired">9,029,562</span> common shares in the capital of RWI from the RWI Shareholders (being all of the issued and outstanding shares in the capital of RWI) in exchange for an aggregate of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20230101__20230630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zNWGjjWyQbu" title="Restricted shares exchanged">66,818,759</span> restricted shares of the Company’s common stock, or <span id="xdx_901_eus-gaap--SharesIssued_iI_pid_c20230630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zlHQXydVKXu" title="Number of shares issued">7.4</span> shares for each share of RWI. Therefore, RWI became a wholly owned subsidiary of the Company effective July 3, 2017. The Company’s former name, Gold and Silver Mining of Nevada, Inc. (“CJT”) was changed on April 24, 2017, in expectation of and conditional upon completion of the Merger. The Merger was accounted for as a reverse acquisition with RWI considered the accounting acquirer since the former RWI shareholders remained in control of the combined entity after the transaction. As part of the merger, net liabilities of $<span id="xdx_909_eus-gaap--Liabilities_iI_c20230630__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zTFsp3gXcpL3" title="Net liabilities">235,495</span> were recognized on the Company’s balance sheet. As a result of the Merger the Company originally traded on the OTC Pink Sheet under the trading symbol RAKR but since then become an SEC filing company and was up-listed to the OTCQB in 2022. The Company has temporarily been relegated to the OCT Pink due to share price. The Company is working on mechanisms to cure that issue. In the meantime, shareholders remain able to trade the stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 1, 2023, the Company’s wholly owned subsidiary, RWI (Rainmaker Worldwide Inc. (Ontario)), completed the issuance of <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20230329__20230402__srt--OwnershipAxis__custom--RainmakerWorldwideIncMember_ze6VNJdj80ag" title="Stock Issued During Period, Shares, New Issues">13,544,343</span> representing <span id="xdx_903_ecustom--PercentageForOutstandingShares_iI_pid_dp_uPure_c20230401__srt--OwnershipAxis__custom--RainmakerWorldwideIncMember_zSkOVQUYRyyd" title="Percentage for outstanding shares">60</span>% of the outstanding shares of RWI shares to an investor. As a result, the investor will take over management of RWI, and the Company will retain a <span id="xdx_903_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20230401__srt--OwnershipAxis__custom--RainmakerWorldwideIncMember_zpilxMqi307a" title="Retain ownership interest">40</span>% ownership interest in RWI. This transaction was completed in accordance with applicable laws and regulations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ongoing Partnerships</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 28, 2022, the Company signed a Joint Development Agreement (“JDA”) with Miranda Environmental and Water Treatment Technologies, Energy, Natural Resources, Engineering, Consulting, Construction and Commerce Inc. (“Miranda”) whose primary operations reside in Ankara, Turkey. This JDA allows for reciprocal distribution rights for all of RAKR’s and Miranda’s combined technologies and fosters a long-term technological integration strategy between the two companies. The first result of this JDA was achieved in May of 2023 with a purchase order from Turks and Caicos. Delivery and commissioning is expected in September 2023. We will also deliver an Air-to-Water machine to be commissioned alongside the water treatment plant.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 5, 2022, the Company entered into a Memorandum of Understanding (the “MOU”) with Miranda to formalize the mutual intention to integrate the two firms at both strategic and operating levels. This is a non-binding agreement allowing for standard due diligence to take place before the creation of, and agreement to definitive agreements. There can be no assurance that the parties will reach a definitive agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has incurred continuing losses from its operations and has an accumulated deficit of $<span id="xdx_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20230630_z9WRNZvhqpzc" title="Accumulated deficit">73,588,656</span>. There are no assurances the Company will be able to raise capital on acceptable terms or that cash flows generated from its operations will be sufficient to meet its current operating costs and required debt service. If the Company is unable to obtain sufficient amounts of additional capital, it may be required to reduce the scope of its business, which could harm its financial condition and operating results. These conditions raise substantial doubt about the Company’s ability to continue ongoing operations. These consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s ability to continue its operations and to pay its obligations when they become due is contingent upon the Company obtaining additional financing. Management’s plans include seeking to procure additional funds through debt and equity financing to enable it to meet its operating needs including current and future sales orders. In addition, revenues are being forecasted at the operational level.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-73588656 usd
CY2022Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
85013 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
502611 usd
RAKR Derivative Liabilities Change Due To Issuances
DerivativeLiabilitiesChangeDueToIssuances
73594 usd
RAKR Derivative Liabilities Change Due To Conversions
DerivativeLiabilitiesChangeDueToConversions
-159538 usd
RAKR Derivative Liabilities Markettomarket
DerivativeLiabilitiesMarkettomarket
-113669 usd
CY2023Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
302998 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zYILcPEpDFyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zA84NpA6r2d4">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
The Company has options, debentures and other potentially dilutive instruments extending to the latest date of July 1, 2027
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_ztIhY9F3VW91" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_z0nHzQ3MWJA2">Customer Concentration</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to the infancy of the Company’s market penetration, current sales are concentrated on a limited number of customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
100000 cad
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q2 us-gaap Percentage Of Interest Bearing Domestic Deposits To Deposits Other Time Deposit
PercentageOfInterestBearingDomesticDepositsToDepositsOtherTimeDeposit
0.50 pure
CY2017Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
8200 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3694 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
296652 usd
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
157586 usd
RAKR Interest Expense Of Amortization Debt Discount Premium
InterestExpenseOfAmortizationDebtDiscountPremium
244803 usd
CY2023Q2 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
4050 usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
9323 usd
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
144354957 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
144354957 shares
CY2022Q2 RAKR Shares Authorized
SharesAuthorized
501000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
346305647 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
346305647 shares
CY2022Q3 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.08 pure
CY2023Q2 us-gaap Noncash Or Part Noncash Divestiture Description
NoncashOrPartNoncashDivestitureDescription
Effective April 1, 2023 Rainmaker (RAKR) divested 60% interest in Rainmaker Worldwide Inc. (Ontario) (RWI) and continues to hold a 40% interest. RAKR will retain management participation and will retain one out of three board seats.
CY2022Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
1376147 shares
CY2021Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
1834862 shares
CY2022Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
197183 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
1648352 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
1250000 shares
CY2022Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
2750 usd
CY2022Q3 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
2542373 shares
CY2022Q4 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
3000000 shares
CY2022Q4 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
4988208 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
5769231 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
3229505 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
7500000 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
4316123 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
9027778 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
4986627 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
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CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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5384615 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
3507813 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
9375000 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
11090909 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
11648352 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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12235294 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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5403846 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
15192307 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
15192307 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
10600962 shares
CY2018Q2 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
4423910 usd
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
4423910 usd
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
4423910 usd
CY2022 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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CY2023Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
66700000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.16 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.56 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
5728377 usd
us-gaap Tax Credit Carryforward Limitations On Use
TaxCreditCarryforwardLimitationsOnUse
These NOL carry-forwards begin to expire in 2037. No provision was made for federal income taxes as the Company has significant NOLs in the United States and Canada. All of the Company’s income tax years remained open for examination by taxing authorities
us-gaap Net Income Loss
NetIncomeLoss
-753992 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-1837611 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
69474 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
410171 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
219206 usd
CY2022 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
252373 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-465312 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-1175067 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
97716 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
246764 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
97716 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
246764 usd
CY2022Q2 RAKR Shares Authorized
SharesAuthorized
501000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001

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