Terra Innovatum Global N.V. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements. Terra Innovatum Global, N.V. (formerly Terra Innovatum Global, Srl.) Consolidated Balance Sheets (Unaudited) (all amounts in USD)(in thousands) September 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 2,151 $ 69 Deferred transaction costs 1,114 - Prepaid expenses and other current assets 385 65 Total current assets 3,650 134 Equipment, net 98 - Total assets $ 3,748 $ 134 Liabilities and quotaholders’ deficit Current liabilities: Accounts payable $ 3,708 $ 32 Accrued expenses and other current liabilities 221 21 Bridge loans, net 3,557 - Total current liabilities 7,486 53 Related party loan, non-current 325 107 Other non-current liabilities 167 6 Total liabilities 7,978 166 Commitments and contingencies (Note 5) Quotaholders’ deficit: Corporate capital 15 3 Additional paid-in capital 1,402 - Accumulated deficit ( 5,617 ) ( 37 ) Accumulated other comprehensive income ( 30 ) 2 Total quotaholders’ deficit ( 4,230 ) ( 32 ) Total liabilities and quotaholders’ deficit $ 3,748 $ 134 The accompanying notes are an integral part of these unaudited consolidated financial statements. Field: Page; Sequence: 4; Options: NewSection; Value: 1 Field: Sequence; Type: Arabic; Name: PageNo 1 Field: /Sequence Field: /Page Terra Innovatum Global N.V. (formerly Terra Innovatum Global, Srl.) Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) (all amounts in USD)(in thousands) For The Three Months Ended September 30, For The Nine Months Ended September 30, 2025 2024 2025 2024 Operating expenses: Selling, general and administrative $ 2,135 $ 2 $ 5,655 $ 7 Development costs 155 16 244 53 Total operating expenses 2,290 18 5,899 60 Loss from operations ( 2,290 ) ( 18 ) ( 5,899 ) ( 60 ) Other income (expenses): Other income - related party - 34 - 96 Other expense ( 160 ) - ( 215 ) - Interest expense ( 537 ) - ( 726 ) - Change in fair value - warrant liability - - 1,260 - Total other (expense) income, net ( 697 ) 34 319 96 (Loss) income before income taxes ( 2,987 ) 16 ( 5,580 ) 36 (Provision) benefit for income taxes - - - - Net (loss) income $ ( 2,987 ) $ 16 $ ( 5,580 ) $ 36 Other comprehensive (loss) income Change in foreign currency translation adjustment ( 49 ) 27 ( 32 ) 26 Total comprehensive (loss) income $ ( 3,036 ) $ 43 $ ( 5,612 ) $ 62 The accompanying notes are an integral part of these u