Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1271

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 1271
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     7.65% 
     8.04%

Maturities
of operating lease liabilities are as follows for the year ending December 31:

Schedule of Maturity of Operating
Lease Liabilities 

(Dollars
in thousands)

    2024 
  
    2025 
    $82 
  
    2026 
     82 
  
    2027 
     82 
  
    2028 
     29 
  
    2029 
     29 
  
    Thereafter 
     88 
  
    Total lease payments 
     392 
  
    Less: imputed interest 
     (79)
  
    Total lease obligations 
     313 
  
    Less: current obligations 
     (61)
  
    Long-term lease obligations 
    $252 

As
of December 31, 2024, there were no additional operating lease commitments that had not yet commenced.

Project
Dorothy 2 Commitments:

As
of December 31, 2024, the Company was contractually committed for approximately $8.5 million of capital expenditures, primarily related
to infrastructure builds, equipment procurement, and labor associated with the Company’s Project Dorothy 2 datacenter. These capital
expenditures are expected to occur over the next year.

     F-37 

Contingencies:

Spring
Lane Capital Contingency

The
Company has a potential contingency associated with an agreement with Spring Lane of up to $250 thousand which would be reduced by a
proportion of funding received from Spring Lane up to the $45.0 million aggregate contribution cap. The Company considers the probability
of a payment for the contingency to be remote.

Bonus
Contingency

During
the year ended December 31, 2024, the Company’s Board of Directors approved a discretionary bonus program with an aggregate payout
of approximately $2.1 million, including associated payroll taxes. The bonus is subject to achievement of specific conditions. As of
December 31, 2024, management evaluated the likelihood of meeting the requisite conditions for payout and determined that it is not probable
that conditions will be satisfied. Accordingly, no liability has been recorded in the accompanying consolidated financial statements
as of December 31, 2024. The Company will continue to monitor the status of the conditions and will recognize a liability in future periods
if and when it becomes probable that the bonus will be paid.

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