Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 95

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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1,257  
     2,025  
     1,847 
  
    Loss on sale of fixed assets 
     1  
     21  
     -  
     9  
     - 
  
    Provision for credit losses 
     -  
     244  
     367  
     149  
     - 
  
    Convertible note inducement expense 
     -  
     -  
     -  
     388  
     - 
  
    Placement agent release expense 
     -  
     -  
     -  
     1,000  
     - 
  
    Loss on contract 
     -  
     -  
     -  
     28,593  
     - 
  
    Impairment on fixed assets 
     130  
     -  
     -  
     -  
     - 
  
    Fair value adjustment on SEPA draws 
     -  
     -  
     -  
     -  
     118 
  
    Loss (gain) on debt extinguishment and revaluation, net 
     3,097  
     5,600  
     (1,203) 
     (145) 
     (551)
  
    Adjusted EBITDA 
    $5,147  
    $1,797  
    $(3,482) 
    $(2,520) 
    $(1,648)

We continued
positive Adjusted EBITDA from the third quarter of 2023 through the second quarter of 2024. Effective July 1, 2024 we entered
into an agreement for services where the quarterly service expense was approximately one million in each third and fourth quarter of
2024. The agreement was terminated in March 2025, and we have seen a Adjusted EBITDA improve from the third quarter of 2024 through
the first quarter of 2025.

Liquidity
and Capital Resources

Several key indicators of our liquidity are summarized in the following
table:

    Three Months Ended or as of

    Three Months Ended or as of

    Year Ended or as of

    March 31,

    March 31,

    December 31,

    (Dollars in thousands)