Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1084

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 1084
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 $2,275 
  
    Accounts receivable, net 
     481  
     1,201 
  
    Other receivable, related party 
     1,090  
     185 
  
    Prepaids and other current assets 
     34  
     - 
  
    Total current assets 
     4,203  
     3,661 

    Other assets- long term, related party 
     2,452  
     2,172 
  
    Operating lease right-of-use assets 
     42  
     90 
  
    Deposits on equipment 

    Property, plant, and equipment 
     12,744  
     13,712 
  
    Total assets 
    $19,441  
    $19,635 

    Current liabilities: 

    Due to intercompany 
    $51  
    $- 
  
    Accrued expense 
     1,608  
     677 
  
    Customer deposits-current 
     296  
     - 
  
    Operating lease liability 
     4  
     7 
  
    Total current liabilities 
     1,959  
     684 
  
    Operating lease liability 
     39  
     83 
  
    Current portion of debt 

    Customer deposits- long term 
     -  
     1,190 
  
    Other liabilities, related party 
     275  
     224 

    Total liabilities 
    $2,273  
    $2,181 

Effective January 1, 2023, the Company’s ownership in DVSL was reduced from 67.8% to 14.6%; see above for details.

On
May 9, 2023, the Company’s indirect subsidiary DVCC completed a strategic partnership and financing with a special purpose vehicle,
Navitas West Texas Investments SPV, LLC, (“Navitas”) organized by Navitas Global, to complete the second phase of
the Dorothy Project (“Dorothy 1B”). Under a Contribution Agreement among the parties, the Company owned a substantially complete
25MW data center under construction, in which the Company had contributed capital expenditures for the data center. Soluna and Navitas
amended and restated the Initial LLCA (the “Existing LLCA”) to reflect Navitas’ contribution of $4.5 million and its
receipt of