Company: NKLR
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001213900-25-063846
Chunk: 336

Company: Terra Innovatum Global N.V.
Filing Date: 2025-07-15
Form: S-4/A
Chunk 336
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 the three months ended March31, 2025, we used approximately $199,056 in cash for operating activities. As of December31, 2024, we had cash of $68,934. For the year ended December31, 2024, we used approximately $41,192 in cash for operating activities. Historically, we have incurred recurring net losses from operations and negative cash flows from operating activities. As of March31, 2025, we had an accumulated deficit of approximately $1,484,550. As of December31, 2024, we had an accumulated deficit of approximately $36,862. These factors raise substantial doubt regarding our ability to continue as a going concern within one year of the date these financial statements were issued. We are trying to alleviate the going concern risk through the debt and equity financing in the U.S. capital market to support its working capital after the de -SPACtransaction. However, there is no guarantee that the substantial doubt about our ability to continue as a going concern will be alleviated. Our ability to continue as a going concern is dependent upon our ability to further implement our business plan and generate sufficient revenue and ability to raise additional funds. 171

These accompanying financial statements have been prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. During the year ended December 31, 2024, we entered into the 2024 Loan Agreement with our quotaholders. The total loan amount of $216,212 was provided in full by March 31, 2025. On March 21, 2025, we entered into the 2025 Loan Agreement with our quotaholders. The total loan amount of $220,749 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 March 31, 2025, quotaholders advanced a total of $287,815 related to the 2024 and 2025 Loan Agreements. Bridge Loan During May 2025 and June 2025, we entered into a series of debt note subscription agreements (the “Bridge Loans”) with multiple lenders, raising aggregate gross proceeds of $4,870,000. During May 2025 and June 2025, we entered into multiple letter agreements