Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 450

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 450
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The accompanying notes are an integral part of these unaudited financial statements.

F-40 Terra Innovatum, Srl.
Notes to the Financial Statements (Unaudited) Note 1. Organization Terra Innovatum, Srl. (“Terra”) 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 -ModularNuclear 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 refueling, 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 -gridapplications. Key differentiators include a gas -cooleddesign, 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 -riskingits 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 March31, 2025, the Company had cash of $43,787. For the three months ended March31, 2025, the Company used approximately $199,056 in cash for operating activities. Historically, the Company has incurred recurring net losses from operations and negative cash flows from operating activities. As of March31, 2025, the Company had an accumulated deficit of approximately $1,484,550. These factors raise substantial doubt regarding the Company’s ability to continue as