Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 280

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 280
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 these estimates in future periods, the Company may need to adjust the recorded valuation allowance, which could materially impact our financial position and results of operations. The Company has a full valuation allowance for the deferred tax asset of $ 36.7million and $ 36.8million on September 30, 2024 and December 31, 2023, respectively. We will continue to evaluate the ability to realize our deferred tax assets and related valuation allowance on a quarterly basis.

| F-61 |

7. Debt

The following table represents total debt outstanding by agreement as of September 30, 2024:

Schedule of Total Debt Outstanding

| (Dollars in thousands):           |     | Convertible notes payable |       |     | Current portion of debt |        |     | Long term debt |       |     | Total |        |
|:----------------------------------|:----|:--------------------------|------:|:----|:------------------------|-------:|:----|:---------------|------:|:----|:------|-------:|
| Convertible Notes                 |     | $                         | 3,370 |     | $                       |      - |     | $              |     - |     | $     |  3,370 |
| NYDIG financing                   |     |                           |     - |     |                         |  9,183 |     |                |     - |     |       |  9,183 |
| Navitas term loan                 |     |                           |     - |     |                         |    292 |     |                |     - |     |       |    292 |
| June 2024 secured note            |     |                           |     - |     |                         |  3,781 |     |                | 8,100 |     |       | 11,881 |
| July 2024 additional secured note |     |                           |     - |     |                         |  1,273 |     |                |     - |     |       |  1,273 |
| Total Debt                        |     | $                         | 3,370 |     | $                       | 14,529 |     | $              | 8,100 |     | $     | 25,999 |

The following table represents total debt outstanding by agreement as of December 31, 2023:

| (Dollars in thousands): |     | Convertible notes payable |       |     | Current portion of debt |