Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 72

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 impact the economic performance of DVSL. In addition, the entity’s obligation to absorb losses and right
to receive benefits has not changed. As such, Soluna would continue to consolidate the entity since a change in control has not occurred
following the execution of Generate Credit Agreement and Deed of Trust.

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

Schedule
of Variable  Interest Entities of Assets and Liabilities

    (Dollars in thousands) 
    September
    30, 2025  
    December
    31, 2024 

    Current assets: 

    Cash and restricted cash 
    $7,493  
    $2,598 
  
    Accounts receivable, net 
     997  
     481 
  
    Other receivable, related party 
     1,790  
     1,090 
  
    Prepaid expenses and other
    current assets 
     115  
     34 
  
    Total current assets 
     10,395  
     4,203 

    Other assets, related party 
     1,948  
     2,452 
  
    Operating lease right-of-use assets 
     40  
     42 
  
    Deposits on equipment 
     232  
     - 
  
    Property, plant and equipment,
    net 
     12,027  
     12,744 
  
    Total assets 
    $24,642  
    $19,441 

    Current liabilities: 

    Due to intercompany 
    $285  
    $51 
  
    Accrued liabilities 
     892  
     1,608 
  
    Current portion of debt 
     2,826  
     - 
  
    Customer deposits 
     789  
     296 
  
    Operating lease liability 
     4  
     4 
  
    Total current liabilities 
     4,796  
     1,959 

    Operating lease liability 
     36  
     39 
  
    Current portion of debt 
     36  
     39 
  
     Long term debt 
     1,878  
     - 
  
    Customer deposits- long term 
     320  
     - 
  
    Other liabilities, related
    party