Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 84

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 thousands) 
    Three months ended June 30, 

    2025  
    2024 

    NYDIG equipment financing 
    $361  
    $361 
  
    Navitas term loan 
     -  
     37 
  
    Green Cloud secured loan 
     354  
     - 
  
    Spring Lane financing cost 
     121  
     - 
  
    Galaxy loan 
     236  
     - 
  
    Equipment loan 
     124  
     51 
  
    Interest expense 
    $1,196  
    $449 

Loss
on Debt Extinguishment and Revaluation, net: For the three months ended June 30, 2025, there was no gain or loss on extinguishment
or revaluation of debt.

For
the three months ended June 30, 2024, we had a loss on debt revaluation of approximately $5.6 million, which was in relation to approximately
$4.0 million for the convertible notes, due to factors including assumptions on conversions and payouts, annual volatility, and stock
price conditions on the dates of valuations compared to what the noteholders could convert at as of June 30, 2024. In addition, there
was a $1.6 million loss on the valuation of a warrant liability. The warrant liability was ultimately reversed when Shareholder approval
occurred on May 30, 2024, however, we needed to revalue the warrants as of May 30, 2024, which created a loss of approximately $1.6 million
due to mainly changes in the stock price.

Other
expense, net: Other expense, net increased by approximately $497 thousand for the 3 months ended June 30, 2025 compared to
June 30, 2024. For the three months ended June 30, 2025, we incurred a loss compensation cost of approximately $291 thousand in
relation to the Las Majadas wind farm, and approximately $255 thousand financing expense mainly in relation to consent fees for the
ATM Agreement draws, in addition to FINRA and SEC filing charges. For the three months ended June 30, 2024, other expense, net was
approximately $49 thousand, related to an extension fee expense of approximately $325 thousand in relation to the Convertible Notes,
offset with a gain on settlement of litigation with Atlas Technology Group LLC