Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 117

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 325  
     356 
  
    Accounts receivables, gross 
     2,608  
     2,937 
  
    Less: Allowance for expected credit losses 
     (244) 
     (244)
  
    Accounts receivables,
    net 
    $2,364  
    $2,693 

The Company’s allowance for expected credit
loss was $244 thousand at March 31, 2025 and December 31, 2024, respectively. For the year ended December 31, 2024, one of the Company’s
borrowers for a note receivable was having financial difficulty securing additional financing to pay the note. As such, the Company fully
reserved the note balance and incurred a provision on credit loss of approximately $244 thousand. In addition, the Company had a credit
provision for approximately $516 thousand due to a pricing dispute with a Bitcoin hosting customer, in which the agreement with the customer
was terminated in December 2024. As of December 31, 2024, the Company wrote off the entire allowance with the Bitcoin hosting customer
of $516 thousand.

Rollforward of Allowance of Expected Credit Losses:

Schedule
of Allowance of Expected Credit Losses

    (Dollars in thousands) 
    January 1, 2025- March 31, 2025  
    January 1, 2024 – December 31, 2024 

    Allowance for expected credit losses, beginning of period 
    $244  
    $- 
  
    Current period credit provision 
     -  
     760 
  
    Write offs charged against the allowance 
     -  
     (516)
  
    Recoveries collected 
     -  
     - 
  
    Allowance of expected credit losses, end of period 
    $244  
    $244 

4. Property, Plant and Equipment, net

Property, plant and equipment consist of the following at:

Schedule of Plant and Equipment

    (Dollars in thousands) 
    March 31, 2025  
    December 31, 2024 
  
    Land and land improvements 
    $1,553  
    $1,553 
  
    Buildings and leasehold improvements 
     25,453  
     25,453 
  
    Computers and related software 
     11,536