Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000097
Chunk: 23

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 23
---
ual is recorded under accrued liabilities of the condensed consolidated balance sheet as of March 31, 2024.

The Hydronaut vessels 2 and 3 are reported as AHFS at December 31, 2023 at an amount based on an offer for sale. The offer for sale contains both cash and non-cash considerations. The AHFS liability of $ 1,158,609includes the non-cash consideration, which are purchase invoices submitted by the purchaser that will be foregone upon closing of the sale.

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#### NAUTICUS ROBOTICS, INC.

### NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
<div align='center'>(UNAUDITED)</div>

Hydronaut vessels 2 and 3 were sold on January 22, 2024, and the AHFS current asset of December 31, 2023 was offset with the AHFS liability and cash received.

In December 2023, the Company started negotiations to exit a lease for office space. The negotiations completed in March 2024 with the Company agreeing a settlement figure with the lessor of $ 657,000. See Note 9, "Leases" for further discussion. The accrual is recorded under accrued liabilities on the condensed consolidated balance sheet as of December 31, 2023.

#### 8. Notes Payable
Notes payable consisted of the following:

|                                               |     |              |   March 31, 
        2024 |     |   | December 31, 
         2023 |
|:----------------------------------------------|:----|:-------------|------------:|:----|:--|-------------:|
|                                               |     | -As Restated |             |     |   |              |
| Convertible secured debentures                |     | $            |           - |     | $ |   36,530,320 |
| New convertible debentures (fair value)       |     |              |  94,691,365 |     |   |            - |
| Convertible senior secured term loan          |     |              |  25,600,000 |     |   |   12,295,000 |
| Total                                         |     |              | 120,291,365 |     |   |   48,825,320 |
| Less: debt discount, net                      |     |              |     -96,590 |     |