Company: KITTW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001849820-25-000128
Chunk: 25

Company: Nauticus Robotics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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ITEM 1. FINANCIAL STATEMENTS

NAUTICUS ROBOTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

March 31,2025December 31,2024AssetsCurrent Assets:Cash and cash equivalents$10,054,304 $1,186,047 Restricted certificate of deposit52,640 52,151 Accounts receivable, net 326,830 238,531 Accounts receivable unbilled165,256 - Inventories955,894 880,594 Prepaid expenses1,695,991 1,389,434 Other current assets607,391 573,275 Assets held for sale750 750 Total Current Assets13,859,056 4,320,782 Property and equipment, net22,812,432 17,115,246 Operating lease right-of-use assets, net999,496 1,094,743 Other assets157,701 154,316 Goodwill10,652,388 - Total Assets$48,481,073 $22,685,087 Liabilities and Stockholders’ DeficitCurrent Liabilities:Accounts payable$4,892,453 $5,916,693 Accrued liabilities9,674,282 5,602,721 Contract liability346,279 346,279 Operating lease liabilities - current447,292 435,307 Notes payable - current2,437,744 - Total Current Liabilities17,798,050 12,301,000 Warrant liabilities131,025 181,913 Operating lease liabilities - long-term653,402 768,939 Notes payable - long-term, fair value option (related party)3,307,758 2,583,832 Notes payable - long-term, net of discount (related party)10,955,052 13,820,366 Notes payable - long-term, net of discount 13,219,166 12,531,332 Other liabilities895,118 895,118 Total Liabilities$46,959,571 $43,082,500 Stockholders’ Deficit:  Series A Convertible Preferred Stock $0.0001 par value; 40,000 shares authorized,  35,434 shares issued at March 31, 2025 and December 31, 2024 and 19