Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 19

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 19
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     208,000  
     407.8 
  
    Total operating expenses 
    $1,407,000  
    $3,465,000  
    $(2,058,000) 
     (59.4)%

    Other (expenses) income 

    Interest income 
    $12,000  
    $50,000  
    $(38,000) 
     (76.0)%
  
    Financing cost 
     (2,410,000) 
     (252,000) 
     2,158,000  
     856.3 
  
    Gain on settlement of accounts payable 
     -  
     23,000  
     (23,000) 
     (100.0)
  
    Loss on extinguishment of debt – related party 
     (2,317,000) 
     -  
     2,317,000  
     100 
  
    Loss on extinguishment of debt 
     (6,468,000) 
     (986,000) 
     5,482,000  
     556.0 
  
    Total other expenses 
    $(11,183,000) 
    $(1,165,000) 
    $10,018,000  
     859.9%

Revenues

For
the years ended December 31, 2024 and 2023, we had no revenues.

Operating
Expenses

Professional
fees

Our
professional fees increased to $386,000 for the year ended December 31, 2024 from $344,000 for the year ended December 31, 2023. The
increase of approximately $42,000 was attributable to a decrease in our consulting fees of approximately $63,000, which was offset by
an increase in our other professional fess of approximately $105,000.

Equity-based
compensation

Our
equity-based compensation for the year ended December 31, 2024 was approximately $369,000 as compared to $3,032,000 for the year ended
December 31, 2023. During the fourth quarter of 2023, we issued warrants and stock options to our directors and officers with a fair
value of $2,916,000, which was recognized as an expense upon issuance. Also for the years ended December 31,