Nukkleus Inc. has announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended September 30, 2024. The company requires additional time for compilation and review to ensure adequate disclosure of certain information. Nukkleus expects to file the report within the 15-day grace period allowed by SEC regulations.During the financial statement preparation, it was discovered that significant SPAC-related advisor costs were incorrectly charged as expenses in the quarters ended December 31, 2023, and March 31, 2024. These costs are eligible for capitalization, resulting in a reduction of Additional Paid-in Capital. This misclassification led to an overstatement of the company's net loss in the prior quarterly filings.Nukkleus will restate the affected quarterly filings to correct these errors. The company is working with its auditors to finalize the restatements and ensure accurate financial reporting. The exact impact on net loss will be detailed in the forthcoming Form 10-K and the restated quarterly filings.

Nukkleus Inc. has announced a delay in filing its Annual Report on Form 10-K for the fiscal year ended September 30, 2024. The company requires additional time for compilation and review to ensure adequate disclosure of certain information. Nukkleus expects to file the report within the 15-day grace period allowed by SEC regulations.During the financial statement preparation, it was discovered that significant SPAC-related advisor costs were incorrectly charged as expenses in the quarters ended December 31, 2023, and March 31, 2024. These costs are eligible for capitalization, resulting in a reduction of Additional Paid-in Capital. This misclassification led to an overstatement of the company's net loss in the prior quarterly filings.Nukkleus will restate the affected quarterly filings to correct these errors. The company is working with its auditors to finalize the restatements and ensure accurate financial reporting. The exact impact on net loss will be detailed in the forthcoming Form 10-K and the restated quarterly filings.