Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001849820-25-000108
Chunk: 110

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 110
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 internal control over financial reporting.  Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks.  Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.  Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.  We believe that our audits provide a reasonable basis for our opinion.

/s/ Whitley Penn LLP

We have served as the Company's auditor since 2021.

Houston, Texas 

April 15, 2025

F-2

NAUTICUS ROBOTICS, INC.

CONSOLIDATED BALANCE SHEETS

F-3

December 31,20242023AssetsCurrent Assets:Cash and cash equivalents$1,186,047 $753,398 Restricted certificate of deposit52,151 201,822 Accounts receivable, net238,531 212,428 Inventories880,594 2,198,797 Prepaid expenses1,389,434 1,889,218 Other current assets573,275 1,025,214 Assets held for sale750 2,940,254 Total Current Assets4,320,782 9,221,131 Property and equipment, net17,115,246 15,904,845 Operating lease right-of-use assets, net1,094,743 834,972 Other assets154,316 187,527 Total Assets$22,685,087 $26,148,475 Liabilities and Stockholders’  Deficit  Current Liabilities:  Accounts payable$5,916,693 $7,035,450 Accrued liabilities5,602,721 7,339,099 Contract liability346,279 2,767,913 Operating lease liabilities - current435,307 244,774 Total Current Liabilities12,301,000 17,387,236 Warrant liabilities181,913 18,376,180 Operating lease liabilities - long-term768,939 574,260  Notes payable - long-term, fair value option (related party) 2,583,832 - Notes payable - long-term, net of discount (related party)13,820,366