secwatch.observer — SEC 8-K summary
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Issuer:     Rainmaker Worldwide Inc. (RAKR)
CIK:        0001872292
Form:       8-K
Filed at:   2022-02-16T23:59:59+00:00
Accession:  0001493152-22-004735
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rainmaker Worldwide issues $55K convertible note; term sheet indicates potential $700K funding
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- Issued $55,000 promissory note with 10% interest (22% default) maturing Feb 7, 2023.
- Conversion price set at 65% of the lowest trading price in the prior 10 days (35% discount).
- Term sheet signed Feb 3, 2022 shows investor willingness to fund up to $700,000 in tranches at discretion.
- Proceeds from note to be used for general working capital.
- Securities sold in unregistered offering under Section 4(a)(2) and Rule 506(b).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1872292/000149315222004735/0001493152-22-004735-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1872292/000149315222004735/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-004735

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer