Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2015

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 2015
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     363  
     363 
  
    Legal, audit, tax and professional fees 
     537  
     448 
  
    Contract liability (1) 
     20,015  
     - 
  
    Sales tax accrual 
     575  
     575 
  
    Real estate taxes accrual 
     182  
     1,166 
  
    Hosting and utility fees 
     1,036  
     383 
  
    Interest payable 
     2,275  
     936 
  
    Dividend payable 
     7  
     7 
  
    Construction fees 
     2,211  
     - 
  
    Membership distribution accrual 
     1,179  
     517 
  
    Other 
     143  
     88 
  
    Total 
    $29,075  
    $4,906 

(1)CloudCo and HPE terminated their contract, which provided the Company access to datacenter and cloud services for AI and supercomputing applications utilizing NVIDIA H100 GPUs. In accordance with the terms of the HPE Agreement, CloudCo is required to pay all of the unpaid fees that were payable over entire term of the contract. As of December 31, 2024, the Company reduced its prepaid assets and other long-term assets by approximately $8.6 million, increased termination liability by approximately $20.0 million and recorded a loss on contract of approximately $28.6 million to account for the termination of the contract and CloudCo’s contractual payments. See Note 17 for details.

8.
Debt

The
following table represents total debt outstanding by agreement as of December 31, 2024:

 Schedule of Total Debt Outstanding

    (Dollars in thousands): 
    Convertible notes payable  
    Current portion of debt  
    Long term debt  
    Total 
  
    Convertible Notes 
    $-  
    $-  
    $-  
    $- 
  
    NYDIG financing 
     -  
     9,183  
     -  
     9,183 
  
    Navitas term loan 
     -  
     137  
     -  
     137 
  
    June 2024 secured note 
     -  
     3,922  
     7,061