Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 468

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 468
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 5.7  
     0.65  
     0.81 
  
    Unvested, December 31, 2024 
     5,587,500  
    $1.11  
     8.2  
    $1.08  
    $0.69 

For
the year ended December 31, 2024, the total equity-based compensation was approximately $2,749,000
of which approximately $2,380,000
was capitalized as Data Center Campus
costs.

    F-21

For
the years ended December 31, 2023, the total equity-based compensation (for stock options and warrants) was approximately $3,368,000
of which approximately $336,000
was capitalized as Data Center Campus costs

Warrants

In
November 2023, the Company issued two warrants to purchase 2,000,000
and 3,545,801
(“2023 Warrants”) to two of the Company’s directors. The 2023 Warrants have an exercise price of $0.54,
which was the fair value of the Company’s common stock on the date of issuance. The 2023 Warrants vested on December 31, 2023
and expire on December 31, 2028. The 2023 Warrants grant date fair value of approximately $2,056,000
was calculated using the Black Scholes fair value option-pricing model with key input variables provided by management, as of the
date of issuance: volatility of 123.0%,
the fair value of common stock $0.54,
estimated life of 2.5
years, risk-free rate of 4.33%
and dividend rate of $0.
The 2023 Warrants’ grant date fair value of $2,056,000
was included in the equity-based compensation in the Statement of Operations for the year ended December 31, 2023.

During
the year ended December 31, 2024, 3,058,887
warrants were issued, 600,000
warrants forfeited (see Note 3) and 100,000 expired. 

During
the year ended December 31, 2023, 100,804 warrants expired, and 1,567,500 warrants were forfeited with conversion of the associated Convertible
Promissory Notes (see Note 4).