Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 42

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 2024 
    $8,474 
  
    Conversions of debt (January 1, 2024- June 30, 2024) 
     (3,712)
  
    Extension fee 
     325 
  
    Total revaluation losses
    and extinguishment of debt, net (January 1, 2024- June 30, 2024) 
     2,765 
  
    Balance June 30, 2024 
     7,852 
  
    Conversions of debt (July 1, 2024 – September 30, 2024) 
     (2,166)
  
    Revaluation gains and
    extinguishment of debt, net (July 1, 2024 – September 30, 2024) 
     (2,316)
  
    Balance September 30, 2024 
     3,370 
  
    Conversions of debt (October 1, 2024- December 31, 2024) 
     (3,123)
  
    Revaluation gains and
    extinguishment of debt, net (October 1, 2024- December 31, 2024) 
     (247)
  
    Balance December 31, 2024 
    $- 

For
the three and nine months ended September 30, 2024, the Company had approximately $2.2 million and $5.9 million of note conversions with
the Noteholders, approximately $2.3 million in revaluation gains, net and $450 thousand in revaluation losses, net in relation to fair
value assessments of the convertible debt, and a 4% note extension in June 2024 increasing the note balance by approximately $325 thousand.
As of September, the Company had a fair value outstanding balance of approximately $3.4 million and a principal outstanding value of
approximately $3.1 million. In addition, from October 1, 2024 through December 31, 2024, there was approximately $3.1 million of conversion
with the Noteholders, and incurred a revaluation gain of debt of approximately $247 thousand, in which as of December 31, 2024, the Convertible
Notes were no longer outstanding.

The
following table represents the significant and subjective fair value assumptions used for Convertible Notes during the year ended December
31, 2024. As the Convertible Notes