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

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 of public company effective dates.

Recent Accounting Pronouncements

Management does not believe that any recently issued,
but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

Note 4. Related Party Transactions

During the three months ended September 30, 2025
and 2024, the Company earned other income of $0 and $34, respectively. During the nine months ended September 30, 2025 and 2024,
the Company earned other income of $0 and $96 respectively, for engineering consulting services provided to related parties. The
consulting services are unrelated to the core business of the Company and are included in the statement of operations under other income — related
party.

During the year ended December 31, 2024, the
Company entered into an interest-free loan agreement (the “2024 Loan Agreement”) with its quotaholders for approximately $216
which was provided in full by March 31, 2025. The loan is scheduled to mature on December 31, 2040, with automatic annual extensions
permitted until December 31, 2045, unless repayment is requested by the quotaholders.

On March 21, 2025, the
Company entered into a second interest-free loan agreement (the “2025 Loan Agreement”) with its quotaholders. The total loan
amount of $221 is to be provided in cash installments by April 10, 2025, and matures on December 31, 2040. The maturity is
subject to annual extensions until December 31, 2024, unless repayment is requested by the quotaholders.

As of September 30, 2025 and December 31,
2024, quotaholders advanced a total of $325 and $107, respectively, related to the 2024 and 2025 Loan Agreements.

8

Lease Agreement

On April 1, 2025, the Company entered into
a lease agreement with Nine Nuclear and Industrial Engineering S.R.L. (“Nine”), a related party, to sublease three office
rooms from a property unit located in Lucca, Sorbano del Giudice, Via della Chiesa XXXII n. 759. The three office rooms will be used
exclusively for professional office purposes and related activities. The term of the lease agreement is 24 months starting from April 1,
2025 and ending on March