Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 40

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 2025 compared to the same period in 2024 primarily due to increases in travel
and entertainment expenses of $119 and $72 due to technical and engineering studies.

Other income (expenses)

Other income — related party

Other income — related
party decreased by $96 for the nine months ended September 30, 2025 compared to the same period in 2024. We provided engineering
consulting services unrelated to our core business during the nine months ended September 30, 2024. No such services were provided
during the nine months ended September 30, 2025.

Other expense

Other expense increased by
$215 during the nine months ended September 30, 2025 compared to the same period in 2024. The increase was primarily due to
$249 of foreign currency transaction losses and an increase of $3 of miscellaneous expenses, partially offset by $37 foreign currency
transaction gains.

Interest expense

Interest expense totaled $726
for the nine months ended September 30, 2025, attributable to the Bridge Loans. There was no interest expense during the same
period in 2024.

Change in fair value — warrant
liability

Our change in fair value — warrant
liability consists of the change in fair value of certain Bridge Loan warrants, which were initially recorded at fair value as a warrant
liability and were reclassified to permanent equity during the period.

Net loss

Net loss for the nine months
ended September 30, 2025 was $5,580 as compared to net income of $36 for the nine months ended September 30, 2024.
The $5,616 net change was due to an increase of $5,839 in loss from operations and an increase of $223 in other income, net.

29

Liquidity, Going Concern, and Capital Resources

Liquidity is the ability of
a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing
basis. Since inception, we have financed our operations primarily through cash flows from capital contributions. To date, we have not
generated any revenue from our core business operations. We do not expect to generate any meaningful revenue unless and until we are able
to complete development, regulatory licensing and entering into the effective commercialization phase of the SOLO Micro-Modular Nuclear
Reactor which we do not anticipate occurring before 202