Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 244

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 244
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 financial statement information about operating segments, products, services,
geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial
information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how
to allocate resources and assess performance.

For the years ended December 31, 2024
and 2023, the Company was managed as a single operating segment in accordance with the provisions in the Financial Accounting Standards
Board (“FASB”) guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial
information related to reportable operating segments and geographic regions. Furthermore, the Company determined that a committee comprised
of our Chief Executive Office (“CEO”) and founding officers is the Chief Operating Decision Maker as this committee is responsible
for making decisions regarding the allocation of resources and assessing performance as well as for strategic operational decisions and
managing the organization as a whole.

Development Costs

The Company expenses development costs
as incurred. Development costs consist primarily of personnel costs, including salaries and benefits. The Company incurred $74,736
and $41,344 development costs for the years ended December 31, 2024 and 2023, respectively.

Commitments and Contingencies

The Company may at times be involved in litigation
in the ordinary course of business. The Company will, from time to time, when appropriate in management’s estimation, record adequate
reserves in the Company’s financial statements for pending litigation. Currently there are no pending or threatened litigation
matters that management believes require accrual or disclosure. Refer to Note 5 for commitments or contractual obligations.

Income Taxes

The Company is domiciled in Italy and is subject
to taxation under Italian tax laws. It is not domiciled in the United States and, as such, is not subject to U.S. federal or
state income taxes.

The Company accounts for income taxes under the
asset and liability method in accordance with ASC 740, Income Taxes. Under this method, deferred tax assets and liabilities are
recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing
assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect
for the year in which these temporary differences are expected to be recovered or settled. Valuation allowances are provided if based
on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be