Company: GEDC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023834
Chunk: 33

Company: CalEthos, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 33
---
.0)
  
    Financing cost – related party 
     (75,000) 
     (616,000) 
     (541,000) 
     (87.8)
  
    Abandoned project 
     (4,581,000) 
     -  
     4,581,000  
     100.0 
  
    Total other expenses 
    $(4,710,000) 
    $(612,000) 
    $4,098,000 
     669.6%

18

Revenues

For
the three months ended June 30, 2025 and 2024, we had no revenues.

Operating
Expenses

Professional
fees

Our
professional fees decreased to $81,000 for the three months ended June 30, 2025 from $113,000 for the three months ended June 30, 2024.
The decrease of approximately $32,000 was attributable to a decrease in our consulting fees of approximately $8,000, a decrease in our
legal fees of $34,000, a decrease in our accounting fees of $3,000, a decrease in our audit fees of $4,000, a decrease in our filing
fees of $9,000 and an increase in transfer agent costs and geologies for approximately $26,000.

Equity-based
compensation

Our
equity-based compensation for the three months ended June 30, 2025 decreased to $(145,000) from $109,000 for the three months ended June
30, 2024. During the three months ended June 30, 2025, the Company recorded a recapture of approximately
$236,000 of equity-based compensation related to the non-performance of the performance-based awards. Therefore, the three months ended
June 30, 2025 equity- based compensation was $91,000. 

Payroll
and related expenses

Payroll
and related expenses increased to $187,000 for the three months ended June 30, 2025 from $74,000 for the three months ended June 30,
2024. For the year ended December 31, 2023, we had one employee. Our first employee, our Chief Operating Officer, was hired in June 2023,
and our second employee, our Vice President of Data Center Development, was hired in February 2024.

Financing
costs

Our financing cost for