10-K/A: Annual report (Amendment)

Nukkleus reported FY2024 revenue of $5.9 million, down 72.2% YoY, with a net loss of $8.5 million. The company terminated its general support services agreement with TCM effective January 2024, which historically generated over 80% of revenue. Financial services revenue declined 46.9% to $1.1 million due to closure of primary USD banking rails.The company entered into a transformative agreement to acquire a 51% stake in Star 26 Capital for $15 million in December 2024, marking its strategic pivot to the defense sector. Star's subsidiary Rimon is a supplier of generators for "iron dome" launchers and other defense products. To fund growth initiatives, Nukkleus raised $10 million through a private placement of shares and warrants.The company also signed an agreement to divest its payment services subsidiary Digital RFQ to focus on the defense business. Management implemented cost reduction measures and strengthened the balance sheet through debt conversions and settlements. Looking ahead, Nukkleus aims to capitalize on increasing defense sector opportunities while completing its business transformation.

Nukkleus reported FY2024 revenue of $5.9 million, down 72.2% YoY, with a net loss of $8.5 million. The company terminated its general support services agreement with TCM effective January 2024, which historically generated over 80% of revenue. Financial services revenue declined 46.9% to $1.1 million due to closure of primary USD banking rails.The company entered into a transformative agreement to acquire a 51% stake in Star 26 Capital for $15 million in December 2024, marking its strategic pivot to the defense sector. Star's subsidiary Rimon is a supplier of generators for "iron dome" launchers and other defense products. To fund growth initiatives, Nukkleus raised $10 million through a private placement of shares and warrants.The company also signed an agreement to divest its payment services subsidiary Digital RFQ to focus on the defense business. Management implemented cost reduction measures and strengthened the balance sheet through debt conversions and settlements. Looking ahead, Nukkleus aims to capitalize on increasing defense sector opportunities while completing its business transformation.