Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 259

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 259
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 Innovatum, Srl.
Notes to the Financial Statements</div>

Note 1. Organization

Terra Innovatum, Srl. (“Terra” or the
“Company”) was incorporated under the laws of Italy on September 23, 2021 (“Inception”) and is headquartered
in Lucca, Italy. Terra is a pioneering nuclear energy technology company developing the SOLO Micro-Modular Nuclear Reactor (“SOLO”),
a breakthrough solution designed to address critical challenges in clean energy production. Terra’s reactor represents a significant
technological and engineering advancement, offering a compact, safe, and economically compelling alternative to traditional energy infrastructure.
The SOLO reactor’s core innovation lies in its ability to generate 1 MWe of electricity baseload with a continuous operational cycle
of up to 15 years, extendable to 45 years through strategic refuelling, with a fixed and competitive projected levelized cost
of energy. Terra’s strategic roadmap targets commercial deployment by 2028, with a clear focus on delivering a scalable, modular
nuclear solution that can be deployed across diverse markets — from industrial and infrastructure to remote and off-grid
applications. Key differentiators include a gas-cooled design, multiple safety shutdown mechanisms, safeguard-by-design, small footprint,
and the ability to use commercially available Low Enriched Uranium (“LEU”), which significantly reduces regulatory and technological
barriers typical in nuclear energy development. Terra has made substantial progress in de-risking its First-of-a-Kind (“FOAK”)
reactor, including initiating regulatory engagement with the U.S. Nuclear Regulatory Commission (“NRC”), and establishing
a robust supply chain strategy. Terra has completed the reactor design, validated key technological components, and is advancing through
critical regulatory milestones to achieve Terra’s 2028 FOAK reactor completion target.

Note 2. Going Concern

As of December 31, 2024, the Company had cash
of $68,934. For the year ended December 31, 2024, the Company used approximately $41,192 in cash for operating activities. Historically,
the Company has incurred recurring net losses from operations and negative cash flows from operating activities. As of December 31,
2024, the Company had an accumulated deficit of approximately $36,862.

These factors raise substantial doubt regarding
the Company’s ability to continue as a going concern within one year of the date these financial statements were issued.

The Company is trying to alleviate the going concern
risk through the debt