Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 206

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 206
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 (expense)            |                        | $ | (1,107 | ) |     | $ |  (1,388 | ) |

The Company’s effective income tax rate from operations differed from the Federal statutory rate for each of the years ended December 31 as follows:

Schedule of Effective Income Tax Rate

|                                     |     | 2023 |     |   |     | 2022 |     |   |
| Federal statutory tax rate          |     |      |  21 | % |     |      |  21 | % |
| Change in valuation allowance       |     |      | (15 | ) |     |      | (17 | ) |
| State taxes, net of federal benefit |     |      |   — |   |     |      |   — |   |
| Expiration of stock option          |     |      |  (1 | ) |     |      |   — |   |
| Loss on extinguishment of debt      |     |      |  (1 | ) |     |      |  (2 | ) |
| Other deferred Adjustments          |     |      |  (1 | ) |     |      |  (1 | ) |
| Tax rate                            |     |      |   3 | % |     |      |   1 | % |

Deferred Tax (Liabilities) Assets:

Deferred tax (liabilities) assets are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates. Temporary differences, net operating loss carryforwards and tax credit carryforwards that give rise to deferred tax assets and liabilities are summarized as follows as of December 31:

Schedule of Deferred Tax Assets

| (Dollars in thousands)                          
 Deferred tax assets:                            |     | 2023 |         |   |     | 2022 |         |   |
|:------------------------------------------------|:----|:-----|--------:|:--|:----|:-----|--------:|:--|
| Accruals and reserves                           |     | $    |     274 |   |     | $    |     251 |   |
| Net operating loss                              |     |      |  28,951 |   |     |      |  19,137 |   |
| Property, plant and equipment                   |     |      |   5,777 |   |     |      |  10,093 |   |
| Stock options