Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 628

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 6
Chunk 628
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 electrical distribution system design and components.
We expect to complete this agreement before the end of June 2025 and have the designs completed for subsurface and surface components
before the end of 2025.

Based
upon the current interest we have received from potential tenants, we expect that we will have agreements signed to lease all or a substantial part of the development
by the end of 2025 or early 2026.

It
is anticipated that we will incur significant expenses in the implementation of our business plan as described herein, and that we will
require substantial financing to complete the development and construction of the planned vertically-integrated, geothermal-powered data
center campus. A failure to obtain this necessary capital when required on acceptable terms, or at all, could force us to delay, limit,
reduce or terminate our development plans, any commercialization efforts and any other operations. We may not be able to secure financing
on favorable terms, or at all, to meet our future capital needs. In addition, even if we are able to obtain sufficient funding to commence
our business operations, we may need to pursue additional financing in the future to make expenditures and/or investments to support
the growth of our business. In addition, we may require additional capital to pursue our business objectives and respond to new competitive
pressures, pay extraordinary expenses or fund our growth, including through acquisitions. Additional funding, however, may not be available
when required on terms that are acceptable to us, or at all. If we are unable to obtain adequate financing or financing on terms satisfactory
to us when it is required, our ability to commence and grow our proposed business operations, to support our business and to respond
to business challenges could be significantly limited.

11

We
currently have only limited capital with which to pay these anticipated expenses. To fund our business plan going forward, we intend
to raise funds from investors by issuing common stock, preferred stock and/or debt securities.

Results
of Operations for the years ended December 31, 2024 and 2023

The
following table summarizes our results of operations for the years ended December 31, 2024 and 2023.

    Change 

    2024  
    2023  
    Dollar  
    Percentage 
  
    Revenues 
    $-  
    $-  
    $-  
     -%

    Operating Expenses 

    Professional fees 
     386,000  
     344,000