Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 94

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 94
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 we had an accumulated deficit of approximately
$36,862.

These factors raise substantial doubt regarding
our ability to continue as a going concern within one year of the date these financial statements were issued.

Subsequent to the balance sheet date, the Company completed the Merger
on October 9, 2025 (see “Business Combination and Public Listing“ below) and converted $5,690,000 in Bridge Loans into
equity and warrants. While this development represents important steps toward improving the Company’s liquidity, management has
not yet completed its going concern assessment due to the unavailability of the Company’s financial statements for the quarter ended
September 30, 2025, and the absence of a finalized operating budget. The Company intends to update its going concern analysis in its Quarterly
Report on Form 10-Q for the quarter ended September 30, 2025, which is expected to be filed on or about November 14, 2025.

There is no guarantee that the substantial doubt about our ability
to continue as a going concern will be alleviated. Our ability to continue as a going concern is dependent upon our ability
to further implement our business plan and generate sufficient revenue and ability to raise additional funds.

These accompanying financial statements have been
prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this
uncertainty.

During the year ended December 31, 2024, we
entered into the 2024 Loan Agreement with our quotaholders. The total loan amount of $216,212 was provided in full by March 31, 2025.
On March 21, 2025, we entered into the 2025 Loan Agreement with our quotaholders. The total loan amount of $220,749 is to be provided
in cash installments by April 10, 2025, and matures on December 31, 2040. The maturity is subject to annual extensions until
December 31, 2024, unless repayment is requested by the quotaholders. As of June 30, 2025, quotaholders advanced a total of
$326,307 related to the 2024 and 2025 Loan Agreements.

Bridge Loans

In May and June 2025, we entered into the Bridge
Loans with multiple lenders, generating aggregate gross proceeds of $5,000,000. In accordance with the terms of the agreements, the Bridge
Loans bear interest at