Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 278

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 278
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 but does not contain all of the footnote disclosures from the annual financial statements.
The accompanying unaudited consolidated financial statements and related financial information should be read in conjunction with the
Terra Innovatum, Srl. audited financial statements and the related notes thereto for the fiscal year ended December 31, 2024, and
the Terra Innovatum Global, Srl. audited financial statements and the related notes thereto as of April 29, 2025 and for the period
from April 29, 2025 (inception) and ended April 29, 2025, which provide a more complete discussion of the Company’s accounting
policies and certain other information. The interim results for the six months ended June 30, 2025, are not necessarily indicative
of the results to be expected for the year ending December 31, 2025, or for any future periods.

Cash and Cash Equivalents

The Company considers all highly liquid investments
with original maturities of three months or less at the time of purchase to be cash equivalents. Cash equivalents are stated at cost,
which approximates market value, because of the short maturity of these instruments. The Company had cash and cash equivalents of $3,972,204
and $68,934 as of June 30, 2025 and December 31, 2024, respectively. The Company had no cash equivalents as of June 30,
2025 and December 31, 2024.

Use of Estimates

The preparation of financial statements in conformity
with U.S. GAAP requires management to make certain estimates, judgments and assumptions. The Company believes that the estimates,
judgments and assumptions made when accounting for items and matters such as, but not limited to, equity-based compensation and contingencies,
are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported
amounts of assets and liabilities as of the date of the financial statements, as well as amounts reported on the statements of operations
during the periods presented. Actual results could differ from those estimates.

Leases

Leases are accounted for under ASC Topic 842,
Leases (“ASC 842”). At the inception of an arrangement, the Company determines whether the arrangement is or contains
a lease based on the unique facts and circumstances present in the arrangement including the use of an identified asset(s) and the
Company’s control over the use of that identified asset. The Company has elected,