Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 53

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 Company to reserve 2.0 million shares of common stock until there is an increase in the authorized shares
of the Company. Accordingly,  2.0 million warrants were not included in the reservation of common shares balance.

As
noted above in relation to the Series B Preferred Stock, as of September 30, 2025, the Series B Preferred Stock can be converted to 1,250,000
shares of the Company’s common stock at approximately $5.00 per share.

    27

*The
Company noted that there are 7,722,890 warrants outstanding as of September 30, 2025. However, as noted in Note 8, on September 28, 2025,
the Company executed a side letter with the Holder in relation to the Generate Common Warrants
to waive a clause that requires the Company to reserve 2.0 million shares of common stock until there is an increase in the authorized shares
of the Company. Accordingly,  2.0 million warrants were not included in the reservation of common shares balance.

Loss
per Share

The
Company computes basic loss per common share by dividing net loss by the weighted average number of common shares outstanding during
the reporting period. Diluted loss per share reflects the potential dilution, if any, computed by dividing loss by the combination of
dilutive common share equivalents, comprised of shares issuable under outstanding investment rights, warrants and the Company’s
share-based compensation plans, and the weighted average number of common shares outstanding during the reporting period. Dilutive common
share equivalents include the dilutive effect of in-the-money stock options, which are calculated based on the average share price for
each period using the treasury stock method. Under the treasury stock method, the exercise price of a stock option and the amount of
compensation cost, if any, for future service that the Company has not yet recognized are assumed to be used to repurchase shares in
the current period.

The
following table sets forth the reconciliation of the numerators and denominators of the basic and diluted per share computations for
operations for the three and nine months ended September 30:

Schedule of Basic and Diluted Per Share Computations for Continuing Operations

    2025  
    2024  
    2025  
    2024 

    (Dollars in thousands, except
    shares) 
    Three
                                            Months Ended September
                                            30,  
    Nine