Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 6

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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     (827)
  
    Financing Activities 

    Proceeds from common stock warrant exercises 
     -  
     300 
  
    Proceeds from SEPA 
     2,005  
     - 
  
    Proceeds from notes 
     5,000  
     - 
  
    Payments on notes and deferred financing costs 
     (1,978) 
     (616)
  
    Contributions from non-controlling interest 
     4,310  
     - 
  
    Distributions to non-controlling interest 
     (1,525) 
     (1,680)
  
    Net cash provided by (used in) financing activities 
     7,812  
     (1,996)

    Increase in cash & restricted cash 
     3,995  
     1,027 
  
    Cash & restricted cash – beginning of period 
     10,453  
     10,367 
  
    Cash & restricted cash – end of period 
    $14,448  
    $11,394 

    Supplemental Disclosure of Cash Flow Information 

    Interest paid on NYDIG loans 
     -  
     115 
  
    Interest paid on Navitas loan 
     3  
     57 
  
    Interest paid on June and July SPA notes 
     282  
     - 
  
    Warrant consideration in relation to convertible notes and revaluation 
     -  
     4,333 
  
    Notes converted to common stock 
     -  
     1,023 
  
    Noncash deferred financing cost accrual 
     97  
     - 
  
    Noncash membership distribution accrual 
     949  
     1,069 

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

8

Notes to Condensed Consolidated Financial Statements (Unaudited)

1. Nature of Operations

Description of Business

Unless the context requires otherwise in these
notes to the consolidated financial statements, the terms “SHI,” “ the “Company,” “we,” “us,”
and “our” refer to Soluna Holdings, Inc. together with its consolidated subsidiaries, “SDI” refers to Soluna Digital,
Inc., “SCI” refers to Soluna Computing, Inc., formerly known as EcoChain, Inc., “Soluna Cloud”