Rainmaker director reports indirect RAKR stake
Director Michael A. Skinner reports indirect Common and Series A Preferred holdings in RAKR, including convertible preferred stock at a $0.015 per share conversion price.
Rhea-AI Filing Summary
Rainmaker Worldwide Inc. (RAKR) reported the initial insider holdings of director Michael A. Skinner. He indirectly holds 377,404 shares of Common Stock and 35,469 shares of Series A Preferred Stock through MAS Capital Inc., and 1,119,491 shares of Common Stock and 34,000 shares of Series A Preferred Stock through Kawartha Entertainment Group Inc.
The Series A Preferred Stock held through both entities is convertible into Common Stock at a conversion price of $0.015 per share, representing 2,364,600 underlying Common shares for MAS Capital Inc. and 2,266,667 underlying Common shares for Kawartha Entertainment Group Inc. No buy or sell transactions are reported; this filing only discloses existing indirect beneficial ownership, and no Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Skinner Michael A.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | SERIES A PREFERRED STOCK F5, F3 | -- | -- | -- |
| holding | SERIES A PREFERRED STOCK F5, F4 | -- | -- | -- |
| holding | COMMON STOCK F1 | -- | -- | -- |
| holding | COMMON STOCK F2 | -- | -- | -- |
Holdings After Transaction:
SERIES A PREFERRED STOCK — 2,364,600 contracts (Indirect, By MAS Captial Inc.);
SERIES A PREFERRED STOCK — 2,266,667 contracts (Indirect, By Kawartha Entertainment Group Inc.);
COMMON STOCK — 377,404 shares (Indirect, By MAS Capital Inc.);
COMMON STOCK — 1,119,491 shares (Indirect, By Kawartha Entertainment Group Inc.)
Footnotes (5)
- F1. The Reporting Person is the sole owner of MAS Capital Inc.and has sole voting and investment power over the securities held by it.
- F2. The Reporting Person is the sole owner of Kawartha Entertainment Group Inc.and has sole voting and investment power over the securities held by it.
- F3. The Reporting Person is the sole owner of MAS Capital Inc. and has sole voting and investment power over the securities held by it. The amount reported represents the Reporting Person's indirect beneficial ownership of 35,469 shares of Series A Preferred Stock, convertible into 2,364,600 shares of Common Stock at a conversion price of $0.015 per share.
- F4. The Reporting Person is the sole owner of Kawartha Entertainment Group Inc. and has sole voting and investment power over the securities held by it. The amount reported represents the Reporting Person's indirect beneficial ownership of 34,000 shares of Series A Preferred Stock, convertible into 2,266,667 shares of Common Stock at a conversion price of $0.015 per share.
- F5. The Series A Preferred Stock is immediately convertible into Common Stock at the option of the holder, subject to the terms and conditions of the Certificate of Designation. The Series A Preferred Stock has no stated expiration date. Accordingly, no expiration date is applicable.
Key Figures
Indirect Common Stock via MAS Capital Inc.: 377,404 shares
Indirect Common Stock via Kawartha Entertainment Group Inc.: 1,119,491 shares
Series A Preferred via MAS Capital Inc.: 35,469 shares
+4 more
7 metrics
Indirect Common Stock via MAS Capital Inc.
377,404 shares
Common Stock indirectly owned by Michael A. Skinner through MAS Capital Inc.
Indirect Common Stock via Kawartha Entertainment Group Inc.
1,119,491 shares
Common Stock indirectly owned by Michael A. Skinner through Kawartha Entertainment Group Inc.
Series A Preferred via MAS Capital Inc.
35,469 shares
Series A Preferred Stock indirectly owned; convertible into Common Stock
Underlying Common via MAS Capital Inc. preferred
2,364,600 shares
Common Stock underlying Series A Preferred held through MAS Capital Inc.
Series A Preferred via Kawartha Entertainment Group Inc.
34,000 shares
Series A Preferred Stock indirectly owned; convertible into Common Stock
Underlying Common via Kawartha Entertainment preferred
2,266,667 shares
Common Stock underlying Series A Preferred held through Kawartha Entertainment Group Inc.
Conversion price of Series A Preferred
$0.015 per share
Conversion price from Series A Preferred Stock into Common Stock
Key Terms
indirect beneficial ownership, conversion price, Certificate of Designation
3 terms
indirect beneficial ownership financial
"The amount reported represents the Reporting Person's indirect beneficial ownership of 35,469 shares"
conversion price financial
"convertible into 2,364,600 shares of Common Stock at a conversion price of $0.015"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
Certificate of Designation regulatory
"subject to the terms and conditions of the Certificate of Designation."
A certificate of designation is a formal document that spells out the specific rights and rules attached to a particular class or series of stock, usually preferred shares. Think of it as a rulebook or menu that lists dividend terms, liquidation priority, conversion or redemption rights and any special voting protections; investors use it to judge how much income, control or downside protection those shares will provide compared with other securities.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider position did Michael A. Skinner report in Rainmaker Worldwide Inc. (RAKR)?
Michael A. Skinner reported indirect beneficial ownership of Rainmaker Worldwide Inc. securities, including Common Stock and Series A Preferred Stock held through MAS Capital Inc. and Kawartha Entertainment Group Inc., where he has sole voting and investment power over the securities held.
What Series A Preferred holdings in RAKR are reported for MAS Capital Inc. and their conversion terms?
MAS Capital Inc. holds 35,469 shares of Series A Preferred Stock, convertible into 2,364,600 shares of Common Stock at a conversion price of $0.015 per share, with the Series A Preferred immediately convertible subject to its Certificate of Designation.
What Series A Preferred holdings in RAKR are reported for Kawartha Entertainment Group Inc. and their conversion terms?
Kawartha Entertainment Group Inc. holds 34,000 shares of Series A Preferred Stock, convertible into 2,266,667 shares of Common Stock at a conversion price of $0.015 per share, with no stated expiration date for the preferred stock.
Were any RAKR insider buy or sell transactions reported in this Form 3?
No. The Form 3 for Rainmaker Worldwide Inc. reports only holding entries and existing indirect beneficial ownership. There are no buy, sell, exercise, or gift transactions disclosed, and no Rule 10b5-1 trading plan is reported.
AI-generated analysis. How Rhea-AI works. Not financial advice.
