Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 3089

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 3089
---

    William
    Hazelip

    March
    31, 2025

    /s/
    William Phelan
     
    Director

    William
    Phelan

    March
    31, 2025

    /s/
    John Bottomley
     
    Director

    John
    Bottomley

    March
    31, 2025

91

SOLUNA
HOLDINGS, INC. AND SUBSIDIARIES

INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS

    Page
  
    Report of Independent Registered Public Accounting Firm (PCAOB ID:1195)
    F-2

    Consolidated
    Financial Statements:

    Balance Sheets as of December 31, 2024 and 2023
    F-3

    Statements of Operations for the Years Ended December 31, 2024 and 2023
    F-4

    Statements of Changes in Equity for the Years Ended December 31, 2024 and 2023
    F-5

    Statements of Cash Flows for the Years Ended December 31, 2024 and 2023
    F-6

    Notes to Consolidated Financial Statements
    F-7
    to F-46

 F-1 

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Board of Directors and
Stockholders of Soluna Holdings, Inc. and Subsidiaries

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheets of Soluna Holdings, Inc. and Subsidiaries (the Company) as of December 31,
2024 and 2023, and the related consolidated statements of operations, changes in equity, and cash flows for each of the years in the
two-year period ended December 31, 2024, and the related notes (collectively referred to as the financial statements). In our opinion,
the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and
2023, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2024, in conformity
with accounting principles generally accepted in the United States of America.

Substantial
Doubt about the Company’s Ability to Continue as a Going Concern

The
accompanying financial statements have