Company: NKLR
Filing Date: 2025-09-11
Form Type: S-4/A
Source: 0001213900-25-086741
Chunk: 515

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-11
Form: S-4/A
Chunk 515
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 Company was managed as a single operating segment in accordance with the provisions in the Financial Accounting Standards Board (“FASB”) guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial information related to reportable operating segments and geographic regions. Furthermore, the Company determined that a committee comprised of our Chief Executive Office (“CEO”) and founding officers are the Chief Operating Decision Makers as this committee is responsible for making decisions regarding the allocation of resources and assessing performance as well as for strategic operational decisions and managing the organization as a whole. Development Costs The Company expenses development costs as incurred. Development costs consist primarily of personnel costs, including salaries and benefits. The Company incurred $88,654 and $37,413 of development costs for the six months ended June 30, 2025 and 2024, respectively. Deferred Transaction Costs The Company records deferred transaction costs, which consist of legal and accounting fees related to the preparation of the Merger. The deferred transaction costs will be offset against proceeds from the transaction upon the effectiveness of the Merger. As of June 30, 2025 and December 31, 2024, $593,232 and $0 of deferred transaction costs, respectively, were capitalized and recorded in deferred transaction costs on the consolidated balance sheets. Deferred transaction costs that are not eligible to be capitalized are expensed as incurred and included within other general expenses in the consolidated statements of operations and comprehensive income (loss). Commitments and Contingencies The Company may at times be involved in litigation in the ordinary course of business. The Company will, from time to time, when appropriate in management’s estimation, record adequate reserves in the Company’s financial statements for pending litigation. Currently there are no pending or threatened litigation matters that management believes require accrual or disclosure. Refer to Note 5 - Commitments and Contingencies. Income Taxes The Company is domiciled in Italy and is subject to taxation under Italian tax laws. It is not domiciled in the United States and, as such, is not subject to U.S. federal or state income taxes. The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Taxes. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which these temporary differences are expected to be recovered or settled. Valuation allowances are provided if