Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 76

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 76
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 the short term, we will fund our cash needs through funds raised through
convertible bridge loans and funds to be received upon the closing of the Business Combination. Subsequent to June 30, 2025, we raised
approximately $5,690 in bridge financing. It is a condition to closing that the GSR Available Cash be at least $25,000.

We will be outsourcing manufacturing.
Consequently, we will not need to invest heavily in manufacturing facilities for the first 2 to 3 years while scaling up to 1,000 units
per year. After that, Terra will most likely require co-investments with suppliers and contract manufacturers. If additional funding was
made available earlier, we would be in a position to upfront some of the working capital and capital expenses requirements associated
with a faster ramp up of the production capacity.

As of September 30, 2025, we had cash of $2,151
and an accumulated deficit of approximately $5,617. For the nine months ended September 30, 2025, we used approximately $3,688 of cash
in operating activities and have historically incurred recurring losses and negative operating cash flows. These conditions initially
raised substantial doubt about our ability to continue as a going concern within one year after the date the financial statements were
issued.

Subsequent to the balance sheet date, on October 9, 2025, we completed
the Merger see “Business Combination and Public Listing” below, which resulted in the conversion of $5,690 of Bridge
Loans into equity and warrants and provided significant additional liquidity. Based on our current forecasts, expected cash outflows over
the next 12 months to support FOAK development, engineering and licensing activities, and general business operations are not anticipated
to exceed available liquidity. We therefore believe that existing cash will be sufficient to our working capital and capital expenditure
requirements for at least the next 12 months.

Our primary sources of liquidity are cash on hand,
and our primary uses of liquidity are operating expenses, licensing activities, and capital expenditures. We continue to monitor our liquidity
position and may consider additional financing arrangements, including equity offerings, to support our growth strategy as appropriate.

Q3 2025 Bridge Loans

In August and September 2025,
multiple lenders committed to loan $690 to the Company, in the aggregate, to be evidenced by unsecured debt note subscription agreements
(the “Q3 2025 Bridge Loans”). In August and September 2025, each