Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 297

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 297
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 financing agreements,
and on such other factors as our board of directors deems relevant. In addition, we may enter into agreements in the future that could
contain restrictions on payments of cash dividends. We expect to use future earnings, if any, to fund business growth. Therefore, stockholders
will not receive any funds absent a sale of their shares of our common stock. If we do not pay dividends, our common stock may be less
valuable because a return on your investment will only occur if our stock price appreciates. We cannot assure stockholders of a positive
return on their investment when they sell their shares of our common stock, nor can we assure that stockholders will not lose the entire
amount of their investment.

If securities or industry
analysts do not publish research or reports about our business, or if they issue an adverse or misleading opinion regarding our stock,
our stock price and trading volume could decline.

The trading market for our
common stock will be influenced by the research and reports that industry or securities analysts publish about us or our business. We
do not currently have and may never obtain research coverage by securities and industry analysts. We cannot assure you that brokerage
firms will provide analyst coverage of our company in the future or continue such coverage if started. In addition, investment banks may
be less likely to agree to underwrite secondary offerings on our behalf than they might if we became a public reporting company by means
of an underwritten initial public offering, because they may be less familiar with our company as a result of more limited coverage by
analysts and the media, which could harm our ability to raise additional funding in the future. The failure to receive research coverage
or support in the market for shares of our common stock will have an adverse effect on our ability to develop a liquid market for our
common stock, which will negatively impact the trading price of our common stock.

In the event we obtain securities
or industry analyst coverage, if any of the analysts who cover us issue an adverse or misleading opinion regarding us, or if our operating
results fail to meet the expectations of analysts, our stock price would likely decline. If one or more of these analysts ceases coverage
of us or fails to publish reports on us regularly, we could lose visibility in the financial markets, which in turn could cause our stock
price or trading volume to decline.

Risks Related to the SEPA

Substantial blocks
of our common stock may be sold into the market as a result of our being party to