Company: GEDC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023834
Chunk: 8

Company: CalEthos, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 8
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Volt Infrastructure Inc. (TerraVolt), a wholly owned
subsidiary established to meet the demand for sustainable, baseload, clean energy solutions for AI infrastructure and large-scale
data centers.

TerraVolt’s
solution is a Infrastructure-as-a-Service (IaaS) Platform that will integrate a portfolio of grid and behind-the-meter power with
construction-ready data center building sites that include utilities and fiber connectivity. TerraVolt plans to provide this turnkey
solution to hyperscalers, colocation providers, and data center developers seeking to deploy new capacity faster than
with traditional power generation and transmission.

Korean
entity

On
November 5, 2021, AIQ System Inc. (“AIQ”) was incorporated in Seoul, Republic of Korea. AIQ is authorized to issue 3 million
shares of common stock. At the date of incorporation, 10,000 shares were issued to the Company for 100,000,000 Korean Won, or approximately
$89,000, for 100% ownership of AIQ. As of July 2022, AIQ was placed into a dormant state of operations. As of January 2025, AIQ has been
dissolved.

Basis
of Presentation

The
accompanying condensed consolidated financial statements and notes thereto are unaudited. The unaudited condensed financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and
pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note
disclosures normally included in the Company’s annual financial statements have been condensed or omitted. The December 31, 2024
condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required
by GAAP. These interim unaudited condensed consolidated financial statements, in the opinion of management, reflect all normal recurring
adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the six-month periods
ended June 30, 2025 and 2024. The results for the six months ended June 30, 2025 are not necessarily indicative of the results to be
expected for the full year ending December 31, 2025 or for any future period.

These
unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial
statements and the notes thereto for the year ended December