Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 33

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 $2,987 and net income of $16, respectively. For the nine months ended
September 30, 2025 and 2024, we reported a net loss of $5,580 and net income of $36, respectively. Net cash used in operating
activities was $3,688 for the nine months ended September 30, 2025, and net cash provided by operating activities was $12
for the nine months ended September 30, 2024. As noted in our financial statements, we had an accumulated deficit of $5,617
as of September 30, 2025.

Key Factors and Trends Affecting Our Business and Results of Operations

We believe the following factors and trends may
cause previously reported financial information not to be necessarily indicative of future operating results or future financial conditions:

●Product Development Plan

The commercial rollout of any advanced nuclear reactors depends
on securing regulatory approvals for its design, construction, and operation. Our regulatory engagement plan was submitted to the NRC,
and the NRC is currently reviewing a number of safety related topics related to SOLO. Although our team has significant prior experience
working with the NRC, we cannot control NRC’s review process and review periods may take longer than anticipated.

●Macroeconomic Conditions and Global Market Dynamics

Our business operates in a complex global environment with
multiple interconnected economic factors that can significantly impact our technological development, regulatory trajectory, and potential
market penetration. As a nuclear technology company with an international human capital strategy and multinational supply chain, we are
sensitive to macroeconomic trends and risks.

●Global Supply Chain Dynamics

We utilize a strategic outsourced manufacturing approach for
the SOLO Micro-Modular Nuclear Reactor, leveraging international human resources and implementing an international manufacturing model
for our FOAK reactor. This strategy exposes us to global supply chain vulnerabilities, including potential impacts from geopolitical tensions,
trade agreements, tariffs, and manufacturing disruptions. Our current assembly preparation in Europe for reactor deployment in the U.S. introduces
additional complexity in navigating international trade regulations, currency exchange risks, and logistical challenges.

24

By partnering with specialized suppliers certified in nuclear
engineering and precision manufacturing, we aim to avoid significant capital investments in manufacturing facilities and concentrate our
resources on core competencies such as reactor design, technological innovation, and regulatory compliance. Our procurement strategy involves
direct engagement with multiple suppliers for critical components, ensuring supply chain reliability and maintaining the flexibility to
adapt our technology to evolving market