Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 111

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 111
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 $25,354,791 were reported on the consolidated statements of operations relating to property and equipment, primarily arising from impairment of the Aquanaut Mark 2 vehicles, Hydronaut vessels, Drix, Olympic arms and some leasehold improvements. During the year ended December 31, 2023, the Company conducted a thorough review of its assets and identified items that no longer aligned with its strategic objectives. The Company reclassified $2,940,254 worth of property and equipment, including Hydronaut vessels, the Drix unmanned surface vessel, and other miscellaneous equipment, as Assets Held For Sale ("AHFS"). At December 31, 2024, property and equipment totaling $750 remains as AHFS with the decrease driven primarily by the sale of Hydronaut vessels 1, 2 and 3. Hydronaut vessels 2 and 3 were sold in January 2024, for $1,533,610, which included cash of $375,000, combined with the offset of open payable invoices. Hydronaut Vessel 1 was sold in November 2024 for $240,337. The Drix unmanned surface vessel was transferred back to property and equipment as it became revenue generating in the third quarter of 2024. The increase in Construction in progress for the year ended December 31, 2024 was mainly driven by a transfer of $1,376,885 from Work in progress. The Company reported a net loss on disposal of property and equipment of $19,202 and $82,604 for the years ended December 31, 2024 and 2023, respectively, which is reported on the consolidated statements of operations in other (income) expense. 6. Accrued Liabilities Accrued liabilities consisted of the following: Table of Contents NAUTICUS ROBOTICS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS F-16

December 31, 2024 December 31, 2023 Accrued compensation $ 956,399 $ 618,630 Accrued severance 1,031,731 1,375,000 Accrued professional fees 2,350 1,355,721 Accrued insurance 440,562 876,150 Accrued sales and property taxes 428,801 885,292 Accrued royalties 400,000 250,000 Accrued AHFS liability - 1,158,609 Accrued