Company: NKLR
Filing Date: 2025-09-03
Form Type: S-4/A
Source: 0001213900-25-084087
Chunk: 510

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-03
Form: S-4/A
Chunk 510
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 Date The Merger requires approval from GSR III shareholders and the satisfaction of other customary closing conditions. Accounting The Merger will be accounted for as a recapitalization, with GSR III treated as the acquired company for accounting purposes and Terra Innovatum Global, Srl. will be treated as the accounting acquirer. Note 2. Going Concern As of June 30, 2025, the Company had cash of $3,972,204. For the six months ended June 30, 2025, the Company used approximately $1,371,162 in cash for operating activities. Historically, the Company has incurred recurring net losses from operations and negative cash flows from operating activities. As of June 30, 2025, the Company had an accumulated deficit of approximately $2,630,042. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern within one year of the date these financial statements were issued. The Company is trying to alleviate the going concern risk through the debt and equity financing in the United States (“U.S.”) capital market to support its working capital after the Merger (see Note 5 — Commitments and Contingencies). However, there is no guarantee that the substantial doubt about the Company’s ability to continue as a going concern will be alleviated. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds. These accompanying financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. F-56 Terra Innovatum Global, Srl.
Notes to the Consolidated Financial Statements
(Unaudited) Note 3. Summary of Significant Accounting Policies There have been no significant changes to the accounting policies during the six months period ended June 30, 2025, as compared to the significant accounting policies described in Note 3 of the Notes to the financial statements in the Terra Innovatum, Srl’s audited financial statements and Note 3 of the Notes to the financial statements in Terra Innovatum Global, Srl’s audited financial statements both included in the registration statement herein. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Basis of Presentation In the opinion of the Company, the accompanying consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary