Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 177

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 177
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 our cash and cash equivalents, which
was offset by a decrease of $167,000 in our accounts payable and accrued expenses and a decrease of $341,000 in convertible promissory
notes, net.

Cash
Flows

    For the years ended December 31, 

    2024  
    2023 
  
    Net cash used in operating activities 
    $(859,000) 
    $(35,000)
  
    Net cash used in investing activities 
     (1,467,000) 
     (1,730,000)
  
    Net cash provided by financing activities 
     2,305,000  
     - 
  
    Effect of exchange rate changes 
     (1,000) 
     6,000 
  
    Change in cash and cash equivalents during the period 
     (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 

Cash
Flows from Operations

Cash
used in operating activities increased to approximately $859,000 for the year ended December 31, 2024 from approximately $35,000 for
the year ended December 31, 2023, which was predominantly related to the increase in our expenditures for filing fees, legal fees, transfer
agent fees and consulting fees paid during the period.

13

Cash
Flows from Investing

Our
cash used in investing activities increased to approximately $1,467,000 for the year ended December 31, 2024 from approximately $1,730,000
for the year ended December 31, 2023. The primary use of cash was for expenditures for the development of our data center campus.

Cash
Flows from Financing

Our
cash provided by financing activities increased to approximately $2,305,000 for the year ended December 31, 2024 from approximately nil
for the year ended December 31, 2023. The increase of $2,305,000 was due to the issuance of a promissory note in the principal amount
of $1,000,000 and the issuance of  convertible debentures in the principal amount of $1,410,000 less $106,000 of cash paid for expenses
related to