Company: NKLR
Filing Date: 2025-05-14
Form Type: S-4
Source: 0001213900-25-043376
Chunk: 418

Company: Terra Innovatum Global N.V.
Filing Date: 2025-05-14
Form: S-4
Chunk 418
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 $ | 43,702 |

F-30

Terra Innovatum, Srl.
Notes to the Financial Statements Note 10. Income Taxes The key measures of segment profit or loss reviewed by the CODM are general and administrative expenses and development costs. General and administrative expenses and development costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a potential business combination with a SPAC. The CODM also reviews general and administrative and development costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. The Company is domiciled in Italy and is primarily subject to taxation in that country. Income (loss) before provision for income taxes consisted of the following:

|                                        |     | Years Ended December 31, 
 2024                     |         |   |     | 2023 |        |   |
|:---------------------------------------|:----|:-------------------------|:--------|:--|:----|:-----|:-------|:--|
| Loss before provision for income taxes |     | $                        | (23,207 | ) |     | $    | (4,799 | ) |

The provision for income taxes for the years ended December 31, 2024 and 2023 consisted of the following:

|                                        |     | Years Ended December 31, 
 2024                     |        |     | 2023 |      |   |
|:---------------------------------------|:----|:-------------------------|-------:|:----|:-----|:-----|:--|
| Current income tax (benefit) expense:  |     | $                        | 10,374 |     | $    | (327 | ) |
| Deferred income tax (benefit) expense: |     |                          |      — |     |      | —    |   |
| Total income tax provision (benefit)   |     | $                        | 10,374 |     | $    | (327 | ) |

The Company’s income tax benefit for the years ended December 31, 2024 and 2023 relating to federal, state and foreign tax jurisdictions differs from the amounts determined by applying the statutory federal income tax rate based on the following:

|                                       |     | Years Ended December 31, |   2024 |   |     |        |    |     |   |   2023 |   |     |        |    |
|:--------------------------------------|:----