Company: GEDC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023834
Chunk: 31

Company: CalEthos, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 31
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     (75,000) 
     (869,000) 
     (781,000) 
     (91.4)
  
    Abandoned project 
     (4,581,000) 
     -  
     4,581,000 
     100.0 
  
    Loss on extinguishment of debt 
     -  
     (6,468,000) 
     (6,468,000) 
     (100.0)
  
    Total other expenses 
    $(4,731,000) 
    $(7,334,000) 
    $(2,591,000) 
     (35.32)%

17

Revenues

For
the six months ended June 30, 2025 and 2024, we had no revenues.

Operating
Expenses

Professional
fees

Our
professional fees decreased to $177,000 for the six months ended June 30, 2025 from $256,000 for the six months ended June 30, 2024.
The decrease of approximately $79,000 was attributable to a decrease in our consulting fees of approximately $54,000, a decrease in our
legal fees of $50,000, a decrease in our accounting fees of $3,000, an increase in our audit fees of approximately $12,000, a decrease
in filing fees of $10,000 and increase in transfer agent cost and geologist of approximately $26,000.

Equity-based
compensation

Our
equity-based compensation for the six months ended June 30, 2025 decreased to $(103,000) from $230,000 for the six months ended June 30,
2024. During the three months ended June 30, 2025, the Company recorded a recapture of approximately
$236,000 of equity-based compensation related to the non-performance of the performance-based awards. Therefore, the six months ended
June 30, 2025 equity- based compensation was $133,000 for the time-based equity awards.

Payroll
and related expenses

Payroll
and related expenses increased to $268,000 for the six months ended June 30, 2025 from $93,000 for the six months ended June 30, 2024.
The increase of $175,000 relates to the Company’s change in its operations. During the six months ended June 30,