Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 3540

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 3540
---
 Company did not recognize
any interest or penalties in 2024 or 2023.

The
Company files income tax returns, including returns for its subsidiaries, with federal and state jurisdictions. The Company is no longer
subject to IRS or state examinations for any periods prior to 2020, although carryforward attributes that were generated prior to 2022
may still be adjusted upon examination by the IRS if they either have been or will be used in a future period.

     F-22 

7. Accrued Liabilities

Accrued
liabilities consist of the following at:

 Schedule of Accrued Liabilities

    (Dollars in thousands) 
    December 31,  2024  
    December 31, 2023 

    Salaries, wages and related expenses 
    $552  
    $423 
  
    Liability to shareholders for previous acquisition 
     363  
     363 
  
    Legal, audit, tax and professional fees 
     537  
     448 
  
    Contract liability (1) 
     20,015  
     - 
  
    Sales tax accrual 
     575  
     575 
  
    Real estate taxes accrual 
     182  
     1,166 
  
    Hosting and utility fees 
     1,036  
     383 
  
    Interest payable 
     2,275  
     936 
  
    Dividend payable 
     7  
     7 
  
    Construction fees 
     2,211  
     - 
  
    Membership distribution accrual 
     1,179  
     517 
  
    Other 
     143  
     88 
  
    Total 
    $29,075  
    $4,906 

(1)CloudCo and HPE terminated their contract, which provided the Company access to datacenter and cloud services for AI and supercomputing applications utilizing NVIDIA H100 GPUs. In accordance with the terms of the HPE Agreement, CloudCo is required to pay all of the unpaid fees that were payable over entire term of the contract. As of December 31, 2024, the Company reduced its prepaid assets and other long-term assets by approximately $8.6 million, increased termination liability by approximately $20.0 million and recorded a loss on contract of approximately $28.6 million to account for the termination of the