Company: HSDTW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001104659-25-113714
Chunk: 0

Company: Solana Co
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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ITEM 1. Condensed Consolidated Financial Statements

Solana Company

Condensed Consolidated Balance Sheets

(in thousands, except share data)

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​​​​​​​​​September 30, 2025​December 31, 2024​​(unaudited) ​  ASSETS​​​​​​Current assets​​   ​  Cash and cash equivalents​$ 124,051​$ 1,088Inventory​  1,128​  1,036Prepaid expenses and other current assets​  484​  1,300Total current assets​  125,663​  3,424Digital assets, at fair value​  291,078​  —Digital assets, restricted, at fair value​​ 59,097​​ —Other long-term assets​  82​  118Total assets​$ 475,920​$ 3,542LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY​ ​​  ​Current liabilities​   ​  ​Accounts payable​$ 2,485​$ 873Accrued and other current liabilities​  654​  1,290Total current liabilities​  3,139​  2,163Other long-term liabilities​  —​  79Derivative liability​​ 625,173​​ 241Total liabilities​  628,312​  2,483Stockholders' equity​   ​  ​Class A common stock, $0.001 par value; 800,000,000 shares authorized; 40,299,228 and 4,936 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively​  40​  —Additional paid-in capital​  385,768​  172,425Accumulated deficit​  (538,140)​  (171,699)Accumulated other comprehensive (loss) income​  (60)​  333Total stockholders' (deficit) equity​  (152,392)​  1,059Total liabilities and stockholders' equity​$ 475,920​$ 3,542

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The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

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