Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 3409

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 12
Chunk 3409
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    2024  
    2023 
  
    Federal statutory tax rate 
     21% 
     21%
  
    Change in valuation allowance 
     (3) 
     (15)
  
    State taxes, net of federal benefit 
     —  
     — 
  
    Cancellation of debt 
     (9) 
     —  
  
    Expiration of stock option 
     —  
     (1)
  
    Loss on extinguishment of debt 
     (2) 
     (1)
  
    Other deferred Adjustments 
     (3) 
     (1)
  
    Tax rate 
     4% 
     3%

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) 
    2024  
    2023 

    Deferred tax assets: 

    Accruals and reserves 
    $236  
    $274 
  
    Net operating loss 
     37,151  
     28,951 
  
    Property, plant and equipment 
     (1,394) 
     5,777 
  
    Stock options 
     2,236  
     1,562 
  
    Research and development tax credit 
     227  
     227 
  
    Deferred tax assets 
     38,456  
     36,791 
  
    Valuation allowance 
     (38,456) 
     (36,791)
  
    Deferred tax assets, net of valuation allowance 
     —  
     — 

    Deferred tax liabilities: 

    Intangibles 
     (5,257) 
     (7,779)
  
    Deferred tax liabilities 
     (5,257) 
     (7,779)
  
    Deferred tax liabilities, net 
    $(5,257) 
    $(7,779)

In
connection with the strategic contract pipeline acquired in the Soluna Callisto acquisition as further discussed in Note 5