Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 357

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 2
Chunk 357
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 whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide
a reasonable basis for our opinion.

Critical
Audit Matters

The critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required
to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements
and (2) involved our especially challenging, subjective or complex judgments. RBSM determined there were no CAM’s for the audit
of the year ended December 31, 2024.

/s/
RBSM LLP

We have served as the Company’s
auditor since 2018.

New York, NY

April 1, 2025

PCAOB
ID No. 587

F-2

CalEthos,
Inc.

Consolidated
Balance Sheets

As
of December 31,

    2024  
    2023 

    Assets 

    Current assets 

    Cash and cash equivalents 
    $286,000  
    $308,000 
  
    Prepaid and other current expenses 
     10,000  
     10,000 
  
    Total current assets 
     296,000  
     318,000 
  
    Data center Campus costs 
     5,849,000  
     2,262,000 
  
    Total assets 
    $6,145,000  
    $2,580,000 

    Liabilities and stockholders’ equity 

    Current liabilities 

    Accounts payable and accrued expenses 
    $504,000