Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 41

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 table sets forth the reconciliation
of the numerators and denominators of the basic and diluted per share computations for operations for the three months ended March 31:

 Schedule of Basic and Diluted Per Share Computations for Continuing Operations

    (Dollars in thousands, except shares) 
    2025  
    2024 

    Numerator: 

    Net loss from continuing operations 
    $(7,354) 
    $(2,544)
  
    (Less) Net income attributable to non-controlling interest 
     (202) 
     (2,710)

    Net loss attributable to Soluna Holdings, Inc. 
    $(7,556) 
    $(5,254)
  
    Less: Preferred dividends or deemed dividends 
     -  
     (386)
  
    Less: Cumulative Preferred Dividends in arrears 
     (2,952) 
     (1,722)
  
    Balance 
    $(10,508) 
    $(7,362)
  
    Denominator: 

    Basic and Diluted EPS: 

    Common shares outstanding, beginning of period, including penny warrants 
     11,327,446  
     2,592,454 
  
    Weighted average common shares issued during the period including penny warrants issued and outstanding as of quarter-end 
     612,536  
     215,101 
  
    Denominator for basic earnings per common shares — 
     -  
     - 
  
    Weighted average common shares 
     11,939,983  
     2,807,555 

    23

The Company notes as continuing operations was in
a Net loss for the three months ended March 31, 2025 and 2024, as such basic and diluted EPS is the same balance as continuing operations
acts as the control amount in which would cause antidilution. Not included in the computation of earnings per share, assuming dilution,
for the three months ended March 31, 2025, were options to purchase 2,645 shares of the Company’s common stock, 206,880 nonvested
restricted stock units, 2,407,134 outstanding warrants not exercised which excludes penny warrants that can be potentially exercised,
and 1,000,000 shares to be issued in connection with the June SPA modification (in which were effectively issued on April 29, 2025).