Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 56

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 56
---
s from stock subscription receivable 
     1,000  
     - 
  
    Cash proceeds for issuances of notes payable 
     1,000,000  
     - 
  
    Net Cash Provided by Financing Activities 
     2,305,000  
     - 

    Effect of exchange rate changes on cash and cash equivalents 
     (1,000) 
     6,000 
  
    Net decrease in cash and cash equivalents 
     (22,000) 
     (1,759,000)
  
    Cash and cash equivalents, beginning of period 
     308,000  
     2,067,000 
  
    Cash and cash equivalents, end of period 
    $286,000  
    $308,000 

    Supplemental disclosure of cash flow information: 

    Cash paid for interest 
    $100,000  
    $- 
  
    Cash paid for income taxes 
    $-  
    $- 

    Non-cash investing and financing activities 

    Common stock and warrants issued for extinguishment of notes payable 
    $3,315,000  
    $- 
  
    Note payable converted to equity 
    $1,000,000  
    $- 
  
    Capitalized interest – project development cost 
    $81,000  
    $203,000 
  
    Convertible debentures accrued interest converted to equity 
    $459,000  
    $4,974,000 
  
    Equity-based compensation capitalized 
    $2,380,000  
    $336,000 

The
accompanying notes are an integral part of these consolidated financial statements.

F-6

CalEthos,
Inc.

Notes
to the Consolidated Financial Statements

For
the Years Ended December 31, 2024 and 2023

Note
1 – Organization and Accounting Policies

ORGANIZATION AND ACCOUNTING POLICIES 

CalEthos,
Inc. (the “Company” or “we”) was incorporated on March 20, 2002 under the laws of the State of Nevada.

As
of July 2022, the Company’s board of directors resolved to focus exclusively on developing a clean-energy-powered data center (“Data
Center Campus”). As such, the Company is implementing its plan to build aa large-scale, data center campus vertically integrated with onsite geothermal
power production In