secwatch.observer — SEC 8-K summary
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Issuer:     Rainmaker Worldwide Inc. (RAKR)
CIK:        0001872292
Form:       8-K
Filed at:   2023-06-02T23:59:59+00:00
Accession:  0001493152-23-019848
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rainmaker Worldwide issues 150K Series A Preferred shares to Viva Industries for $150K; strong control rights
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- Sold 150,000 Series A Preferred Shares at $1.00 each for aggregate $150,000 to Viva Industries, partially owned by former CEO Michael Skinner.
- Preferred shares carry 1.5% monthly dividend on original purchase price, payable in cash or restricted common stock at company's option.
- Investor gains approval rights on future common/preferred dilution, right to appoint up to 3 directors, and ability to authorize a reverse stock split with 50.1% voting power.
- Investor has option to buy up to $600,000 of common stock at $0.0006 per share (50% discount to market) and convert preferred on same terms.
- Buyback triggers include loss of SEC compliance or OTC listing; if unrepurchased within 60 days, investor can take ownership of Ontario equity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1872292/000149315223019848/0001493152-23-019848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1872292/000149315223019848/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-019848

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