Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 264

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 264
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Emerging Growth Company Status

The Company is an emerging growth company, as defined
in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, emerging growth companies can delay adopting
new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private
companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that
have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging
growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act.
As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements
as of public company effective dates.

Recent Accounting Pronouncements

ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. In December 2023, the FASB issued this ASU, which requires public companies, on an annual
basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated
by jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The
Company early adopted this update effective December 31, 2024, presenting our income tax disclosures as shown in Note 11.

ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued this ASU to update reportable segment disclosure
requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance.
This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, with early adoption permitted. The Company adopted this update effective December 31, 2024, on a retrospective
basis. Refer to Note 10 for the disclosures related to our single operating segment.

Note 4. Related Party Transactions

During the years ended December 31, 2024
and December 31, 2023, the Company earned other income of $129,170 and $38,941, respectively, for engineering consulting services
provided to related parties. The consulting services are unrelated to the