Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1703

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1703
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    Income tax (benefit) expense from continuing operations 
     (547) 
     (547) 
     569  
     (542) 
     (1,067)
  
    Depreciation and amortization 
     3,002  
     2,918  
     3,579  
     3,877  
     13,376 
  
    EBITDA 
     (3,603) 
     (6,400) 
     (1,373) 
     (1,270) 
     (12,646)

    Adjustments: Non-cash items 

    Stock-based compensation costs 
     879  
     2,232  
     595  
     606  
     4,312 
  
    Loss (gain) on sale of fixed assets 
     78  
     (48) 
     373  
     (5) 
     398 
  
    Impairment on fixed assets 
     209  
     169  
     41  
     156  
     575 
  
    Loss on debt extinguishment and revaluation, net 
     (473) 
     2,054  
     769  
     1,554  
     3,904 
  
    Adjusted EBITDA 
    $(2,910) 
    $(1,993) 
    $405  
    $1,041  
    $(3,457)

We
continued positive Adjusted EBITDA from the third quarter of 2023 through the second quarter of 2024. Effective July 1, 2025 we
entered into an agreement for services where the quarterly service expense was approximately one million in each third and fourth
quarter of 2024.

Liquidity
and Capital Resources

Several
key indicators of our liquidity are summarized in the following table:

    Years Ended December 31, 
  
    (Dollars in thousands) 
    2024  
    2023 
  
    Cash 
    $7,843  
    $6,368 
  
    Restricted cash 
     2,610  
     3,999 
  
    Working deficit 
     (34,378) 
     (13,891)
  
    Net loss from continuing operations 
     (58,300