Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 80

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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 to control the significant decisions made in the ordinary course of business.
The Company has the right to receive benefits that could potentially be significant to the VIE through its Class A membership interest,
as it is eligible to receive 50% of distributions upon SLC obtaining a specified internal rate of return. The non-controlling shareholders
do not hold substantive participating rights, voting rights or liquidation rights.

    39

The
carrying amount of the assets and liabilities was as follows for KKSL JVCo:

 Schedule
of Variable Interest Entities of Assets and Liabilities 

    (Dollars in thousands) 
    September
    30, 2025 

    Current assets: 

    Cash and restricted cash 
    $3,622 
  
    Due from intercompany 
     725 
  
    Prepaid expenses and other
    current assets 
     2,888 
  
    Total current assets 
     7,235 

    Other assets, related party 
     1,900 
  
    Operating lease right-of-use assets 
     3,408 
  
    Property, plant and equipment, net 
     6,847 
  
    Deposits on equipment 
     581 
  
    Total assets 
    $19,971 

    Current liabilities: 

    Accounts payable, trade 
    $2,449 
  
    Accounts payable, related party 
     1,716 
  
    Accrued liabilities 
     2,741 
  
    Operating lease liability 
     33 
  
    Total current liabilities 
     6,939 

    Other liabilities- related party 
     1,373 
  
    Operating lease liability 
     3,379 
  
    Total liabilities 
    $11,691 

15.
Segment Information

The
Company applies ASC 280, Segment Reporting, in determining its reportable segments. The Company has adopted ASU) 2023-07, Segment
Reporting (Topic 280): Improvement to Reportable Segment Disclosures (ASU 2023-07), which requires disclosure of incremental segment
information on an annual and interim basis, primarily through enhanced disclosures of significant segment expenses. Operating segments
are aggregated into a reportable segment if the operating segments have similar quantitative economic characteristics and if the operating
segments are similar in the following qualitative characteristics: (i) nature of products and services; (ii) nature of production processes;
(iii) type or class of customer for