Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 170

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 170
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 any estimate by us of the number of beneficial owners of shares
held in street name, the accuracy of which cannot be guaranteed.

Dividend
Policy

We
have not declared or paid any cash dividends since inception. Although there are no restrictions that limit our ability to pay dividends
on our common shares, we do not intend to pay dividends for the foreseeable future.

Item
6. Selected Financial Data.

We
are a “smaller reporting company” as defined by Regulation S-K and as such, are not required to provide the information contained
in this item pursuant to Regulation S-K.

    Item
    7.
    Management’s
    Discussion and Analysis of Financial Condition and Results of Operation.

The
following discussion should be read in conjunction with our audited financial statements and the related notes that appear elsewhere
in this Report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual
results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such
differences include those discussed below and elsewhere in this Report.

9

Our
audited financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted
accounting principles.

We
are in the early stages of implementing our plan for the development of a large-scale geothermal-powered data center campus
on which we will lease powered building lots and buildings to large enterprise information technology (IT) customers that are creating
or addressing the growing demand for AI, Cloud and High-Performance Computing (HPC) digital services. In planning for our initial geothermal-powered
data center building lots and building, we are in discussions with several large companies that could lease all or part of the data center
campus, with the intention of cultivating long-term strategic relationships with them once they become our customers and providing them
with solutions for their data center facilities and IT infrastructure requirements. We initially intend to provide geothermal-powered
building lots with flexibility for customers to scale for future growth. As currently contemplated, our offerings will provide clean
energy power, flexibility, reliability and security delivered through a tailored, customer-service-focused platform that will be designed
to foster long-term relationships.

As
of the filing of this Report, we have completed Phase I and entered into Phase II of our data center development plans. In the initial
phase of our project, we originally signed an option agreement in March 2023 to acquire 80 acres of commercially-zoned land in Imperial
County, California