Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 150

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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 value of the
warrants of approximately $7.2
million. The Company notes, approximately $2.9
million related to the Series A and B Warrants in association with the July 2025 Equity Financing, and $4.3
million related to the Generate Common Warrants. Please refer to Note 9 in relation to the fair value assumptions for the Series A and B Warrant in association with
the July 2025 Equity Financing, and refer to Note 8 in relation to the Generate Common Warrants fair value assumptions.

Reclassification

Certain
prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on
the reported results of operations or net assets.

Correction
of an Error

While
preparing the Company’s Form 10-Q for the three and nine months ended September 30, 2025, the Company identified the following
error related to the presentation of basic and diluted Earnings Per Share (“EPS”) in its historical filing for the year ended
December 31, 2024, and for the quarters ended June 30, 2024, September 30, 2024, March 31, 2025, and June 30, 2025:

    ●
    Inclusion
    of the restricted stock awards that had not yet vested.

    11

In
accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering
the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements;” the Company evaluated
the errors and has determined that the related impacts were not material to any prior annual or quarterly report, but that correcting the
cumulative impact of such errors would be significant to our EPS for the year ended December 31, 2025. Accordingly, the Company has corrected
such immaterial errors by adjusting its December 31, 2024 consolidated statement of operations related to the calculation of earnings
per share. The Company also corrected previously reported interim financial information for such immaterial errors in future filings,
as applicable. The following summarizes the effect of the revision on each financial statement line item.

The
following analysis provides a comparison amongst the basic and diluted EPS as reported on the Form 10-Q for the quarter ended June 30,
2024, and the final revised basic and diluted EPS calculation to correct all identified errors:

 Schedule
of Error Corrections for Basic