Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000106
Chunk: 22

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 22
---
 liabilities at September 30, 2024 and December 31, 2023 included costs accrued for an ongoing contract expected to be loss making with the loss reported on the condensed consolidated income statement for the three and nine months ended September 30, 2024 and in the fourth quarter of the year ended December 31, 2023. The decrease in contract

<div align='center'>16</div>

#### NAUTICUS ROBOTICS, INC.

### NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
<div align='center'>(UNAUDITED)</div>

liabilities at September 30, 2024 is primarily attributable to costs incurred on the loss making contract in the first half of 2024 being offset against the accrual.

Unfulfilled Performance Obligations – As of September 30, 2024, we expect to recognize approximately $ 840,000of revenue in future periods from unfulfilled performance obligations from existing contracts with customers.

If any of our contracts were to be modified or terminated, the expected value of the unfulfilled performance obligations of such contracts would be reduced.

#### 5. Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:

|                            |     |   | September 30, 
          2024 |     |   | December 31, 
         2023 |
|:---------------------------|:----|:--|--------------:|:----|:--|-------------:|
| Prepaid material purchases |     | $ |       388,530 |     | $ |      440,091 |
| Prepaid insurance          |     |   |       467,472 |     |   |    1,282,703 |
| Other prepayments          |     |   |       249,643 |     |   |      166,424 |
| Total prepaid expenses     |     | $ |     1,105,645 |     | $ |    1,889,218 |
| Term loan receivable       |     | $ |             - |     | $ |      695,000 |
| Other current assets       |     |   |       338,542 |     |   |      330,214 |
| Total other current assets |     | $ |       338,542 |     | $ |    1,025,214 |

#### 6. Property and Equipment
Property and equipment consisted of