Nukkleus Inc. Files Q4 2023 10-Q Report

TL;DR

**Nukkleus Inc. (NUKS) dropped its Q4 2023 10-Q. Check financials.**

AI Summary

Nukkleus Inc. filed its 10-Q for the quarterly period ended December 31, 2023. The company, formerly known as Brilliant Acquisition Corp., is incorporated in Delaware and headquartered in Jersey City, NJ. The filing covers its financial performance and operations for the specified quarter.

Why It Matters

This filing provides investors with a detailed look at Nukkleus Inc.'s financial health and operational status as of the end of 2023, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 0930 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• Nukkleus Inc. (company) — Registrant
• Brilliant Acquisition Corp. (company) — Former company name
• December 31, 2023 (date) — Quarterly period end date
• 001-39341 (other) — Commission file number
• 38-3912845 (other) — IRS Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share NUKK The Nasdaq Sto
• $11.50 — sable for one Share of Common Stock for $11.50 per share NUKKW The Nasdaq Stock Market
• $8,928,000 — m operating activities of approximately $8,928,000 and $738,000 for the three months ended
• $738,000 — ivities of approximately $8,928,000 and $738,000 for the three months ended December 31,

Filing Documents

• ea0210001-10q_nukkleus.htm (10-Q) — 827KB
• ea021000101ex31-1_nukkle.htm (EX-31.1) — 9KB
• ea021000101ex32-1_nukkle.htm (EX-32.1) — 4KB
• 0001013762-24-002177.txt ( ) — 6097KB
• nukk-20231231.xsd (EX-101.SCH) — 76KB
• nukk-20231231_cal.xml (EX-101.CAL) — 39KB
• nukk-20231231_def.xml (EX-101.DEF) — 323KB
• nukk-20231231_lab.xml (EX-101.LAB) — 573KB
• nukk-20231231_pre.xml (EX-101.PRE) — 323KB
• ea0210001-10q_nukkleus_htm.xml (XML) — 681KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Interim Financial Statements 1 Condensed Consolidated Balance Sheets as of December 31, 2023 (Unaudited) and September 30, 2023 1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended December 31, 2023 and 2022 2 Unaudited Condensed Consolidated Statements of Changes in Stockholders' (Deficit) Equity for the Three Months Ended December 31, 2023 and 2022 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 31, 2023 and 2022 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 Item 5. Other 36

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 38

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements. Although forward-looking known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K, in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Form 10-Q and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these

forward-looking statements, which speak only as of the date of this report

forward-looking statements, which speak only as of the date of this report. We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC's Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, except as required by law. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects . Unless otherwise indicated, references in this report to the "Company", "Nukkleus", "we", "us", or "our" refer to Nukkleus Inc. and its consolidated subsidiaries. ii

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements. NUKKLEUS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS December 31, September 30, 2023 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash $ 204,148 $ 19,318 Customer custodial cash 659,462 672,501 Customer digital currency assets 996,113 - Digital assets 2,945 1,973 Due from affiliates 29,491 2,039,274 Note receivable - related parties, net 35,000 162,820 Other current assets 32,927 32,522 TOTAL CURRENT ASSETS 1,960,086 2,928,408 NON-CURRENT ASSETS: Cost method investment 391,217 391,217 Intangible assets, net 30,271 33,000 TOTAL NON-CURRENT ASSETS 421,488 424,217 TOTAL ASSETS $ 2,381,574 $ 3,352,625 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable $ 296,162 $ 138,666 Customer custodial cash liabilities 1,331,330 1,443,011 Customer digital currency liabilities 996,113 - Due to affiliates 8,178,726 6,808,749 Loan payable 50,000 - Accrued payroll liability and directors' compensation 430,858 402,241 Accrued professional fees 169,945 160,926 Accrued liabilities and other payables 169,745 169,872 TOTAL CURRENT LIABILITIES 11,622,879 9,123,465 NON-CURRENT LIABILITIES: Loan payable - related parties 698,000 420,619 Interest payable - related parties 7,280 1,771 TOTAL NON-CURRENT LIABILITIES 705,280 422,390 TOTAL LIABILITIES 12,328,159 9,545,855 COMMITMENTS AND CONTINGENCIES - (Note 12) STOCKHOLDERS' DEFICIT: Preferred stock ($ 0.0001 par value; 15,000,000 shares authorized; 0 share issued and outstanding at December 31, 2023 and September 30, 2023) - - Common stock ($ 0.0001 par value; 40,000,000 shares authorized; 13,899,712 and 10,074,657 shares issued and outstanding at December 31, 2023 and September 30, 2023, respectively) 1,390 1,007 Additional paid-in capital 35,023,820 25,543,048 Accumulated deficit ( 44,940,441 ) ( 31,769,244 ) Accumulated other comprehe

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View this 10-Q filing on SEC EDGAR