Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 832

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 832
---
-03”). ASU 2024-03 requires, in the notes to the financial statements, disclosures of specified
information about certain costs and expenses specified in the updated guidance. ASU 2024-03 is effective for annual reporting periods
beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The
Company is evaluating the impact the updated guidance will have on its disclosures.

Debt
with Conversion and Other Options

In
December 2024, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2024-04, Debt - Debt with Conversion and
Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. ASU 2024-04 clarifies the requirements for
determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion to improve relevance
and consistency. The new standard is effective for the Company for its annual periods beginning after December 15, 2025 and interim periods
within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact of adopting the
standard.

3. Accounts Receivable 

Accounts
receivables consist of the following at:

 Schedule of Accounts Receivable

    (Dollars in thousands) 
    December 31, 2024  
    December 31, 2023 
  
    Data hosting 
    $1,385  
    $2,456 
  
    Related party receivable 
     -  
     8 
  
    Demand response service receivable 
     1,159  
     268 
  
    Proprietary mining Coinbase receivable 
     37  
     216 
  
    Other 
     356  
     - 
  
     Accounts receivables, gross  
     2,937  
     2,948 
  
    Less: Allowance for expected credit losses 
     (244) 
     - 
  
    Accounts receivables,
    net 
    $2,693  
    $2,948 

The
Company’s allowance for expected credit loss was $244
thousand as of December 31, 2024 and $0
as of December 31, 2023. For the year ended December 31, 2024, one of the Company’s borrowers from a note