Rainmaker Worldwide Inc.: 10% owner Michelle White received 0 shares

What happened

• Michelle White, reported as a greater-than-10% owner, acquired a convertible promissory note on Dec 31, 2025. The filing shows no immediate common shares issued (table reports N/A shares) and lists the transaction value as $163,888.08.
• The note is convertible at $0.027 per share, which the filing converts into approximately 6,069,929 share equivalents (principal divided by $0.027). The filing discloses the acquisition of the note, not issuance of common shares.

Key details

• Transaction date and type: Dec 31, 2025; transaction code J (other acquisition or disposition).
• Price/value: $163,888.08 (note principal acquired in exchange for accounts payable; no cash paid).
• Conversion terms: convertible at $0.027 per share; accrued interest is also convertible at that price; maturity Dec 31, 2026; bears 10% simple annual interest.
• Shares owned after the transaction: filing continues to report Michelle White as a greater-than-10% owner; the filing does not report a specific post-transaction common-share count.
• Footnotes: F1 shows the share-equivalent calculation (approx 6,069,929); F2 explains the note was acquired in exchange for $163,888.08 of accounts payable, bears 10% interest and is convertible at holder's option before Dec 31, 2026; F3 notes this discloses a previously omitted acquisition held indirectly through 2752128 Ontario Ltd. and that the report covers the note acquisition, not issuance of shares.
• Timeliness: the Form 4 was filed on Oct 22, 2026 for a Dec 31, 2025 transaction (filed late).

Why it may matter

• This filing reports acquisition of a convertible promissory note that could convert into common-share equivalents at $0.027 per share (about 6,069,929 share equivalents based on principal).
• The filing reports the note acquisition, not a market transaction in underlying common shares.
• Michelle White is reported as a greater-than-10% owner and later as a director and financial officer effective Sep 21, 2026. A filing does not show why the insider traded or why the company acted.