Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000099
Chunk: 59

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 59
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. For the six months ended June 30, 2024, a loss on the extinguishment of debt of $78,734,949 was reported driven by the Amendment and Exchange Agreement. See Note 8 "Notes Payable"

Change in fair value of warrant liabilities. For the three and six months ended June 30, 2024, a gain in the fair value of warrant liabilities of $4,422,701 and $12,732,324, respectively, was reported as compared to a gain of $29,668,454 and $27,431,550 for the three and six months ended June 30, 2023, respectively.

Change in fair value of new convertible debentures. For the three and six months ended June 30, 2024, a gain on the fair value of the new convertible debentures of $7,410,303 and $11,914,729 was reported, respectively.

Interest expense, net . For the three months ended June 30, 2024, interest expense, net, decreased by $391,166 or 25%, driven by interest on the convertible senior secured term loans received in the second half of 2023 and the first half of 2024. For the six months ended June 30, 2024, interest expense, net, decreased $3,850,836 or 59%. Interest expense for the six months ended June 30, 2023 included $4 million associated with liquidated damages and interest arising out of the RRA. The decrease is partially offset by increased interest expense for the six months ended June 30, 2024 relating to the convertible senior secured term loans.

### Liquidity and Capital Resources
The Company continues to develop its principal products and conduct research and development activities. Currently, the Company does not generate sufficient revenue to cover operating expenses, working capital and capital expenditures. The Company has embarked on cost-cutting measures to continue to preserve cash. The Company may require additional liquidity to continue its operations over the next twelve months which a current investor has committed to provide. The Company believes with this investor support that there will be sufficient resources to continue as a going concern for at least one year from the date that the condensed consolidated financial statements contained in this Form 10-Q/A are issued.

As of June 30, 2024, the Company had $8,122,943 of cash and cash equivalents. The cash equivalents consist of money market funds.

Significant sources and uses of cash during