Rainmaker Worldwide Files SEC Form 10 to Prepare for OTCQB Up-List
Rainmaker Worldwide Inc. (OTC: RAKR) announced the filing of SEC Form 10, a key step for up-listing to OTCQB®. This transition aims to enhance capital access for RAKR, which has been restructuring since late 2020 by reducing debts and liabilities. The company has completed audits for 2019 and 2020 and is expanding its Water-as-a-Service offerings. Two Air-to-Water and Water-to-Water machines will be sent to Canada for testing. CEO Michael O’Connor emphasized the urgent need for clean water solutions as global demands rise.
- Filed SEC Form 10, advancing towards OTCQB® up-listing.
- Reduced debts and contingent liabilities since late 2020.
- Completed audits for financial statements (2019 and 2020).
- Expanding Water-as-a-Service offerings to address global water scarcity.
- No assurance of successful OTCQB® up-listing.
- Delay in project implementations due to the pandemic.
Peterborough, Canada, July 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Rainmaker Worldwide Inc. (OTC: RAKR) (“Company”, “Rainmaker” or “RAKR”) announced today that on Monday, July 19th the Company filed SEC Form 10 with the Security and Exchange Commission, completing another critical requirement for RAKR to up-list to the OTCQB®.
Subject to successful completion of the registration process and approval from OTC Markets, up-listing to the OTCQB® would position RAKR to access capital from sources currently unable to support companies traded on OTC PINK. “The future growth of Rainmaker will require broad access to efficient capital,” said Rainmaker CEO Michael O’Connor. “We are very excited to take this critical next step and provide both existing and future shareholders with the highest levels of transparency.” There can be no assurance that the Company will be successful in its efforts to become quoted on the OTCQB.
With its eye on the OTCQB®, the Company has been strategically restructuring since late 2020 by eliminating significant debts and contingent liabilities from its balance sheet. RAKR has also been seeking to increase its board to a five-member board and is in the process of recruiting two qualified independent directors to comply with OTCQB® listing requirements. Most importantly, Rainmaker has completed the audit of its financial statements for the years ended December 31, 2019 and 2020.
Concurrent with its financial and governance restructuring, Rainmaker has been expanding its Water-as-a-Service (“WaaS”) offering by sourcing new and innovative water solutions to service a wider range of applications. The Company strongly believes that providing a greater selection of water solutions will result in solving more water scarcity issues globally, a crisis that has been exacerbated by COVID-19.
As the world emerges from the global pandemic, Rainmaker is strongly pursuing the implementation of previously announced projects that were stalled over the past several months. Initially, the Company will be sending two full size Air-to-Water (“AW”) and Water-to-Water (“WW”) machines to Canada for JV partners to test and conduct training on the equipment. The AW and WW units will also be used to showcase water production to multiple groups who have demonstrated considerable interest in Rainmaker solutions.
RAKR’s dedication to bringing halted projects to fruition will be matched with a determination to continue sourcing new clean water solutions to help the 2.2 billion in population who are suffering from clean water scarcity.
Mr. O’Connor stated, “The past year and a half has made the global emergency for accessible clean water more dire. Rainmaker’s water solutions are in demand now more than ever before as we witness surging levels of drought, wildfire, and other disasters ruin the lives of millions. RAKR’s next step of transitioning from PINK to OTCQB® will ultimately empower us to deliver clean water to more people worldwide.”
About Rainmaker Worldwide Inc.
Rainmaker Worldwide Inc. (OTC: RAKR) is a leader in affordable water solutions through a Water-as-a-Service business model. RAKR is headquartered in Peterborough, Canada. The Company provides economical drinking water at scale wherever it is needed. Rainmaker was recognized as the Best Community Impact Water Solutions Global 2020 by Capital Finance International. For latest product information and FAQ’s please visit www.rainmakerww.com.
Forward-looking Statements:
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of Rainmaker’s business, potential distribution partnerships and/or clients, and related business strategy. Such statements estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time-to-time. Rainmaker’s undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements.
Investor Contact
Rainmaker Worldwide Inc.
Michael O’Connor
Executive Chairman and Chief Executive Officer
info@rainmakerww.com
FAQ
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