Company: NKLR
Filing Date: 2025-12-09
Form Type: S-1/A
Source: 0001213900-25-119411
Chunk: 221

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-09
Form: S-1/A
Chunk 221
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   |        |   |     |        |    |
| Other                                 |     |                          | 17,062 |   |     | (73.52 | )% |     |   |  1,056 |   |     | (22.01 | )% |
| Total income tax provision (benefit)  |     | $                        | 10,374 |   |     | (44.70 | )% |     | $ |   (327 | ) |     |   6.81 | %  |

At December 31, 2024 and 2023, the Company
did not have any deferred tax assets or liabilities.

The Company complies with the provisions of ASC 740
in accounting for its uncertain tax positions. ASC 740 addresses the determination of whether tax benefits claimed or expected to
be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit
from an uncertain tax position only if it is more likely that not that the tax position will be sustained on examination by the taxing
authorities, based on the technical merits of the position. At December 31, 2024 and 2023, the Company had no uncertain tax positions.

The Company recognizes interest accrued related
to unrecognized tax benefits and penalties in income tax expense. The Company had no accruals for interest and penalties at December 31,
2024 and 2023.

The Company files tax returns as prescribed by the
tax laws of the jurisdictions in which it operates. The statute of limitations for assessment by the Italian tax authorities remains open
for the tax years December 31, 2021 through December 31, 2024 as the Company was incorporated in 2021. There are currently
no income tax audits in progress. The resolution of tax matters is not expected to have a material effect on the Company’s financial
statements.

F-49 Terra Innovatum, Srl.
Notes to the Financial Statements

Note 12. Subsequent Events

The Company has evaluated subsequent events through
the date these financial statements were issued, which represents the date the financial statements were available to be issued, and determined
that there have been no events that have occurred that would require adjustments to disclosures in the financial statements other than
the following:

Lease Agreement

On April 1, 2025, the Company entered into a lease
agreement with Nine Nuclear and Industrial Engineering S.R.L., a related party