Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 164

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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,515  
    $2,598 
  
    Accounts receivable, net 
     883  
     481 
  
    Other receivable, related party 
     1,079  
     1,090 
  
    Prepaids and other current assets 
     69  
     34 
  
    Total current assets 
     4,546  
     4,203 

    Other assets- long term, related party 
     2,452  
     2,452 
  
    Operating lease right-of-use assets 
     42  
     42 
  
    Property, plant, and equipment 
     12,730  
     12,744 
  
    Total assets 
    $19,770  
    $19,441 

    Current liabilities: 

    Due to intercompany 
    $15  
    $51 
  
    Accrued expense 
     1,788  
     1,608 
  
    Customer deposits-current 
     899  
     296 
  
    Operating lease liability 
     4  
     4 
  
    Total current liabilities 
     2,706  
     1,959 
  
    Operating lease liability 
     38  
     39 
  
    Current portion of debt 

    Other liabilities, related party 
     291  
     275 
  
    Total liabilities 
    $3,035  
    $2,273 

Effective January 1, 2023, the Company’s ownership
in DVSL was reduced from 67.8% to 14.6%; see above for details.

On May 9, 2023, the Company’s indirect subsidiary
DVCC completed a strategic partnership and financing with a special purpose vehicle, Navitas West Texas Investments SPV, LLC, (“Navitas”)
organized by Navitas Global, to complete the second phase of the Dorothy Project (“Dorothy 1B”). Under a Contribution Agreement
among the parties, the Company owned a substantially complete 25MW data center under construction, in which the Company had contributed
capital expenditures for the data center. Soluna and Navitas amended and restated the Initial LLCA (the “Existing LLCA”) to
reflect Navitas’ contribution of $4.5 million and its receipt of 4,500 Membership Interests, constituting 26.5% of the