Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 276

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 276
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, business plans and other expectations about future outcomes. In the event that actual results differ from these estimates, or the Company adjusts these estimates in future periods, the Company may need to adjust the recorded valuation allowance, which could materially impact our financial position and results of operations. The Company has a full valuation allowance for the deferred tax asset of $ 36.7million and $ 36.8million on September 30, 2024 and December 31, 2023, respectively. We will continue to evaluate the ability to realize our deferred tax assets and related valuation allowance on a quarterly basis.

| F-61 |

7. Debt

The following table represents total debt outstanding by agreement as of September 30, 2024:

Schedule of Total Debt Outstanding

| (Dollars in thousands):           |     | Convertible notes payable |       |     | Current portion of debt |        |     | Long term debt |       |     | Total |        |
|:----------------------------------|:----|:--------------------------|------:|:----|:------------------------|-------:|:----|:---------------|------:|:----|:------|-------:|
| Convertible Notes                 |     | $                         | 3,370 |     | $                       |      - |     | $              |     - |     | $     |  3,370 |
| NYDIG financing                   |     |                           |     - |     |                         |  9,183 |     |                |     - |     |       |  9,183 |
| Navitas term loan                 |     |                           |     - |     |                         |    292 |     |                |     - |     |       |    292 |
| June 2024 secured note            |     |                           |     - |     |                         |  3,781 |     |                | 8,100 |     |       | 11,881 |
| July 2024 additional secured note |     |                           |     - |     |                         |  1,273 |     |                |     - |     |       |  1,273 |
| Total Debt                        |     | $                         | 3,370 |     | $                       | 14,529 |     | $              | 8,100 |     | $     | 25,999 |

The following table represents total debt outstanding by agreement as of December 31, 2023:

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