Equity Investment

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Equity Investment

Note 3 – Equity Investment

RAINMAKER WORLDWIDE INC. (ONTARIO)(RWI)

Effective April 1, 2023, Rainmaker (RAKR) divested 60% interest in Rainmaker Worldwide Inc. (Ontario) (RWI) and continues to hold a 40% interest. On January 16, 2024, Rainmaker (RAKR) entered into an agreement with Rainmaker Worldwide Inc. (Ontario) (“RWI”) to acquire Miranda Environmental and Water Treatment Technologies, Energy, Natural Resources, Engineering, Consulting, Construction and Commerce Inc. (“Miranda”) in Ankara, Turkey.

The acquisition of 60% of Miranda was completed January 22, 2024.

The Company uses the equity method to account for its interest in RWI. As of March 31, 2024, the Company invested $0.4 million in RWI in the form of a note. For the quarters ended March 31, 2024 and 2023, RWI recorded net losses of $144,386 and nil, respectively, of which the Company recognized losses from equity method investments of $57,754 and nil, respectively.

					Carrying Value as of
	Location	Percentage Ownership			March 31, 2024		December 31, 2023
Rainmaker Worldwide Inc.	Ontario, Canada		40	%
Initial investment cost					$	400,000	-
Less: Distributions						12,000
Less: Share of net loss						57,754
Carrying value					$	330,246	-

	Quarter Ended March 31,
	2024		2023
Statements of operations:
Operating revenue	$	73,225		-
Operating expenses		217,611		-
Net loss	$	144,386		-

	March 31, 2024			December 31, 2023
Balance sheets:
Current assets	$	496,644			-
Long-term assets		24,462			-
Current liabilities		(317,585	)		-
Long-term liabilities		(1,000,535	)		-
Net assets	$	(797,014	)		-