Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000097
Chunk: 8

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 8
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 sectors. We have designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering, our approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading legacy systems and other third-party vehicle platforms. Our services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure.

Liquidity – The Company continues to develop its principal products and conduct research and development activities. Currently, the Company does not generate sufficient revenue to cover operating expenses, working capital and capital expenditures. The Company has embarked on cost-cutting measures to continue to preserve cash. The Company may require additional liquidity to continue its operations over the next twelve months, which a current investor has committed to provide. The Company believes with this investor support that there will be sufficient resources to continue as a going concern for at least one year from the date that the condensed consolidated financial statements contained in this Form 10-Q are issued.

### 2. Restatement of Previously Issued Financial Statements
In connection with the Company's audit of the condensed consolidated financial statements, the Company's management identified the following misstatements in the Company's previously reported condensed interim financial statements included in the Company's original report:

• Correction of an error in accounting for a debt transaction that occurred in Q1 2024. The transaction was incorrectly treated like an amendment rather than an extinguishment.

Impact of the Restatement

The following tables reflect the impact of the restatement to the specific line items presented in the Company’s

previously reported unaudited condensed consolidated financial statements as of and for the three months ended

March 31, 2024.

| Condensed Consolidated Balance Sheets:                       
 As of March 31, 2024                                         |     | As previously Reported (Unaudited) |              |     | Adjustments |             |     | As Restated |              |
|:-------------------------------------------------------------|:----|:-----------------------------------|-------------:|:----|:------------|------------:|:----|:------------|-------------:|
| Accrued liabilities                                          |     | $                                  |    6,500,357 |     | $           |    -352,181 |     | $           |    6,148,176 |
| Total Current Li