Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000097
Chunk: 10

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 10
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 |   |              |
| Net income (loss)                                                      |     | $ |     413,612 |     | $ | -73,252,548 |     | $ |  -72,838,936 |
| Amortization of debt discount                                          |     | $ |   1,159,596 |     | $ |    -778,004 |     | $ |      381,592 |
| Loss on extinguishment of debt                                         |     | $ |           - |     | $ |  78,734,949 |     | $ |   78,734,949 |
| Change in fair value of new convertible debentures                     |     | $ |           - |     | $ |  -4,504,426 |     | $ |   -4,504,426 |
| Changes in accounts payable and accrued liabilities                    |     | $ |     -22,133 |     | $ |    -199,971 |     | $ |     -222,104 |

The accompanying applicable Notes have been restated to correct for these errors.

#### 3. Summary of Significant Accounting Policies
Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all adjustments (consisting of normal, recurring adjustments, unless otherwise disclosed) necessary for a fair statement of the condensed consolidated results of operations, financial position, cash flows and changes in stockholders’ deficit for each period presented. All intercompany balances and transactions have been eliminated in preparation of these condensed consolidated financial statements. The condensed consolidated results for the interim periods are not necessarily indicative of results to be expected for the full year. The 2023 year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Summary of Significant Accounting Policies – The Company’s significant accounting policies are discussed in Note 2 to Nauticus Robotics, Inc.’s consolidated financial statements included in its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2023. There have been no significant changes to these policies which have had a material impact on the Company’s interim