Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 302

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 302
---
 concern is dependent upon the Company’s
ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds.

These accompanying financial statements have been
prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome
of this uncertainty.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Recent Accounting Standards and Pronouncements

Management does not believe that any recently issued,
but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial
statement.

Basis of accounting

The accompanying financial statements have been
prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Use of estimates

The preparation of the accompanying financial statements
in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures
of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
period. Estimates are adjusted to reflect actual experience when necessary. There were no significant estimates as of April 29, 2025.

Foreign Currency Translation

The Company’s reporting currency is the United States
Dollar (“US$”), while its functional currency is the Euro (“€”), which it uses for conducting business and
maintaining its books and records. The accompanying financial statements are presented in US$.

In accordance with ASC 830-30, Translation
of Financial Statements, the Company translates assets and liabilities from its functional currency into US$ using the exchange rate at
the balance sheet date. Revenues and expenses are translated at the average exchange rate for the reporting period. Translation gains
and losses are recorded as a separate component of accumulated other comprehensive income (AOCI) within the statements of changes in quotaholders’
equity.

Net loss per share

The Company is a limited liability company (Srl.)
under Italian law and does not issue traditional shares. Instead, ownership is divided into quotas (similar to membership interests in
a limited liability company in the United States), which represent percentage ownership in the Company and not actual shares. Historical
earning per quota has not been included in these financial statements as the Company
determined that representing net loss per quota is not a meaningful or material disclosure due to the Company’s current capital
structure, and due to the fact that the Company has not started operations.

<div align='center'>F-75

TERRA INNOVATUM GLOBAL S.R.L.
NOTES