Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 157

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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taxes to assess the appropriateness of a valuation allowance which further requires the exercise of significant management judgment.

The
Company believes that the accounting estimate for the valuation of deferred tax assets is a critical accounting estimate because judgment
is required in assessing the likely future tax consequences of events that have been recognized in our financial statements or tax returns.
The Company based the estimate of deferred tax assets and liabilities on current tax laws and rates and, in certain cases, business plans
and other expectations about future outcomes. In the event that actual results differ from these estimates, or the Company adjusts these
estimates in future periods, the Company may need to adjust the recorded valuation allowance, which could materially impact our financial
position and results of operations. The Company has a full valuation allowance for the deferred tax asset of $43.4 million and $38.5
million on September 30, 2025 and December 31, 2024, respectively. We will continue to evaluate the ability to realize our deferred tax
assets and related valuation allowance on a quarterly basis.

    15

8.
Debt

The
following table represents total debt outstanding by agreement as of September 30, 2025:

Schedule of Total Debt Outstanding

    (Dollars in thousands): 
    Current
    portion of debt  
    Long
    term debt  
    Total 
  
    NYDIG financing 
    $-  
    $-  
    $- 
  
    Green Cloud secured note 
     3,487  
     4,589  
     8,076 
  
    Equipment loan 
     -  
     -  
     - 
  
    Galaxy loan 
     636  
     3,756  
     4,392 
  
    Generate credit agreement 
     5,876  
     4,909  
     10,785 
  
    Total Debt 
    $9,999  
    $13,254  
    $23,253 

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

    (Dollars in thousands): 
    Current
    portion of debt  
    Long
    term debt  
    Total 
  
    Convertible Notes 
    $-  
    $-  
    $- 
  
    NYDIG financing 
     9,183  
     -  
     9,183