Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 206

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 206
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 assets 
     115  
     34 
  
    Total current assets 
     10,395  
     4,203 

    Other assets, related party 
     1,948  
     2,452 
  
    Operating lease right-of-use assets 
     40  
     42 
  
    Deposits on equipment 
     232  
     - 
  
    Property, plant and equipment,
    net 
     12,027  
     12,744 
  
    Total assets 
    $24,642  
    $19,441 

    Current liabilities: 

    Due to intercompany 
    $285  
    $51 
  
    Accrued liabilities 
     892  
     1,608 
  
    Current portion of debt 
     2,826  
     - 
  
    Customer deposits 
     789  
     296 
  
    Operating lease liability 
     4  
     4 
  
    Total current liabilities 
     4,796  
     1,959 

    Operating lease liability 
     36  
     39 
  
    Current portion of debt 
     36  
     39 
  
     Long term debt 
     1,878  
     - 
  
    Customer deposits- long term 
     320  
     - 
  
    Other liabilities, related
    party 
     699  
     275 
  
    Total liabilities 
    $7,729  
    $2,273 

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 outstanding Membership Interests of DVCC. On June 2, 2023,