Company: GEDC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023834
Chunk: 66

Company: CalEthos, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 66
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468,000) 
     (100.0)
  
    Total other expenses 
    $(4,731,000) 
    $(7,334,000) 
    $(2,591,000) 
     (35.32)%

17

Revenues

For
the six months ended June 30, 2025 and 2024, we had no revenues.

Operating
Expenses

Professional
fees

Our
professional fees decreased to $177,000 for the six months ended June 30, 2025 from $256,000 for the six months ended June 30, 2024.
The decrease of approximately $79,000 was attributable to a decrease in our consulting fees of approximately $54,000, a decrease in our
legal fees of $50,000, a decrease in our accounting fees of $3,000, an increase in our audit fees of approximately $12,000, a decrease
in filing fees of $10,000 and increase in transfer agent cost and geologist of approximately $26,000.

Equity-based
compensation

Our
equity-based compensation for the six months ended June 30, 2025 decreased to $(103,000) from $230,000 for the six months ended June 30,
2024. During the three months ended June 30, 2025, the Company recorded a recapture of approximately
$236,000 of equity-based compensation related to the non-performance of the performance-based awards. Therefore, the six months ended
June 30, 2025 equity- based compensation was $133,000 for the time-based equity awards.

Payroll
and related expenses

Payroll
and related expenses increased to $268,000 for the six months ended June 30, 2025 from $93,000 for the six months ended June 30, 2024.
The increase of $175,000 relates to the Company’s change in its operations. During the six months ended June 30, 2025, the Company
did not capitalize payroll and related expenses.

Financing
costs

Our financing cost for the six months ended June 30, 2025 increased to
$77,000 from $6,000 for the six months ended June 30, 2024. The increase was due to an increase in the 2025 interest expense and amortization
of debt issuance costs associated with our convertible debentures issued during the year ended December