Equity Investment

6 Months Ended

Jun. 30, 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 Company uses the equity method to account for its interest in RWI. As of June 30, 2024, the Company invested $0.4 million in RWI in the form of a note. For the quarters ended June 30, 2024 and 2023, RWI recorded net losses of $271,028 and nil, respectively, of which the Company recognized losses from equity method investments of $108,411 and nil, respectively.

					Carrying Value as of
	Location	Percentage Ownership			June 30, 2024		December 31, 2023
Rainmaker Worldwide Inc.	Ontario, Canada		40	%
Initial investment cost					$	400,000		-
Less: Distributions						7,000		-
Less: Share of net loss						108,411		-
Carrying value					$	284,589		-

	Quarter Ended June 30,
	2024			2023
Statements of operations:
Operating revenue	$	215,828			-
Operating expenses		486,856			-
Net loss	$	(271,028	)		-

	June 30, 2024			December 31, 2023
Balance sheets:
Current assets	$	429,826			-
Long-term assets		23,110			-
Current liabilities		(186,033	)		-
Long-term liabilities		(972,255	)		-
Net assets	$	(705,352	)		-