Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 51

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 51
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 in the Company for a number of reasons, including reasons unrelated to our
operating performance or prospects. The market price of our securities could be subject to wide fluctuations in response to a broad and
diverse range of factors, including those described elsewhere in this “Risk Factors” section as well as the following:

●announcements by us regarding liquidity, significant acquisitions,
equity investments and divestitures, addition or loss of significant customers and contracts, capital expenditure commitments and litigation;

●our issuance of securities or debt, particularly if in connection
with acquisition activities;

●the sale of a significant number of shares of our common stock
by shareholders;

●recent changes in financial condition or results of operations,
such as in earnings, revenues, or other measure of company value;

●general market and economic conditions; and

●announcements of technological innovations or new product introductions
by us or our competitors.

●Further, broad market and industry factors may have a material
adverse effect on the market price of our securities regardless of our actual operating performance.

In addition, stock markets have experienced in the
past and may in the future experience a high level of price and volume volatility, and the market prices of equity securities of many
companies have experienced in the past and may in the future experience wide price fluctuations not necessarily related to the operating
performance of such companies. These broad market fluctuations may adversely affect the market price of our securities.

Finally, our relatively small public float and daily
trading volume have in the past caused, and may in the future result in, significant volatility in the price of our securities. As of
December 31, 2024, we had approximately 7,646,277 shares of our common stock outstanding held by non-affiliates and 3,161,356 shares of
our 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”), outstanding
held by non-affiliates. Our daily trading volume for the year ended December 31, 2024, averaged approximately 238,987 shares of common
stock and 12,516 shares of Series A Preferred Stock.

Because there has been limited precedent set
for financial accounting of Bitcoin and other cryptocurrency assets, the determination that we have made for how to account for cryptocurrency
assets transactions may be subject to change.

Because there has been limited precedent set for the
financial accounting of cryptocurrencies and related revenue recognition and no official guidance has yet