Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 961

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 11
Chunk 961
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1 and December 31, 2020 for Federal
and California, respectively. As of December 31, 2024 and 2023, there are no unrecognized tax benefits, and there are no significant
accruals for interest related to unrecognized tax benefits or tax penalties.

The
Company is in the process of analyzing its NOL and has not determined if the company has had any change of control issues that could
limit the future use of NOL. The NOL carryforwards that were generated after 2017 of approximately $7,421,000 may only be used to offset
80% of future taxable income and are carried forward indefinitely.

Note
8 – Subsequent Events

SUBSEQUENT EVENTS 

The
Company evaluated all events that occurred after the balance sheet date through the date the financial statements were issued to determine
if they must be reported. The management determined there are no reportable events except for the following:

On
January 13, 2025 (“CSDO Termination Date”), the Company terminated the employment agreement with the Chief Strategy and Development
Officer (“CSDO”) with an effective date of January 15, 2025. Based on the delays in the estimated milestone requirements
for the development of the Company’s Data Center, it was determined that CSDO role was not required. As of the CSDO Termination
Date, the CSDO non-qualified stock option agreement for 1,000,000 shares of the Company’s common stock was cancelled. Of the options
shares of 1,000,000, the CSDO had vested 168,750 options shares, which are exercisable until the third anniversary date of the CSDO
Termination Date.

On
January 14, 2025 (“VPDCD Termination Date”), the Company terminated the employment agreement with the Vice President of Data
Center Development (“VPCSD”) with an effective date of February 15, 2025. Based on the delays in the estimated milestone
requirements for the development of the Company’s Data Center, it was determined that VPDCD role was not required. As of the VPDCD
Termination Date, the VPDCD non-qualified stock option agreement for 350,000 shares of the Company’s common stock was cancelled.
Of the options shares of 350,000, the CSDO had vested 43,750 options shares, which are exercisable until the third anniversary date
of the