Rainmaker director converts notes into stock
Rainmaker Worldwide Inc. director Ross James Samuel reported the conversion of convertible promissory notes into common stock held through an affiliated company.
Rhea-AI Filing Summary
Rainmaker Worldwide Inc. director Ross James Samuel reported the conversion of convertible promissory notes into common stock held through an affiliated company. On January 26, 2026, Sage Stone (Canada) Inc., which he controls, received 1,249,178 shares of common stock at a conversion price of $0.0347 per share. The filing notes that these shares were issued upon converting outstanding principal and accrued interest under two identical convertible promissory notes, and that no cash consideration was paid for the shares.
Following the transaction, Sage Stone (Canada) Inc. indirectly holds 1,255,845 shares of Rainmaker common stock for the reporting person. The derivative table shows that the underlying convertible promissory notes were reduced to zero after the conversion. The report also states that Samuel, through Sage Stone (Canada) Inc., continues to hold a separate convertible promissory note dated December 31, 2025 that was not converted in this transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | CONVERTIBLE PROMISSORY NOTES | 1 | $0.00 | $0.00 |
| Conversion | COMMON STOCK | 1,249,178 | $0.0347 | $43K |
FAQ
What insider transaction did Rainmaker Worldwide (RAKR) disclose in this Form 4?
At what price were the Rainmaker (RAKR) notes converted into common stock?
Was any cash paid in connection with the Rainmaker (RAKR) note conversion?
Does the Rainmaker (RAKR) director still hold any convertible notes after this transaction?
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