2022 Q4 Form 10-Q Financial Statement

#000149315222032295 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $4.183M $6.372M $3.636M
YoY Change 15.04% 25.61% 511.09%
Cost Of Revenue $6.350M $11.19M $5.454M
YoY Change 16.43% 365.39% 1246.67%
Gross Profit -$2.167M -$4.816M -$1.818M
YoY Change 19.2% -280.44% -1056.84%
Gross Profit Margin -51.8% -75.58% -50.0%
Selling, General & Admin $3.762M $8.064M $2.990M
YoY Change 25.82% 178.74% 63.21%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.215M $600.0K $3.269M
YoY Change 59.53% 240.91% -20531.25%
% of Gross Profit
Operating Expenses $6.141M $8.064M $178.0K
YoY Change 3350.0% 144.59% -90.28%
Operating Profit -$8.308M -$41.72M -$1.996M
YoY Change 316.23% 6542.68% 21.56%
Interest Expense -$519.0K $1.671M -$1.879M
YoY Change -72.38%
% of Operating Profit
Other Income/Expense, Net $20.00K $2.400M -$20.00K
YoY Change -200.0% 13233.33% -120.0%
Pretax Income -$27.64M -$56.69M -$3.895M
YoY Change 609.6% 9193.44% 152.59%
Income Tax -$2.000K -$547.0K $41.00K
% Of Pretax Income
Net Earnings -$27.47M -$55.89M -$2.811M
YoY Change 877.16% 9062.62% -244.45%
Net Earnings / Revenue -656.66% -877.15% -77.31%
Basic Earnings Per Share -$3.94
Diluted Earnings Per Share -$1.67 -$3.803M -$214.1K
COMMON SHARES
Basic Shares Outstanding 17.54M shares 14.72M shares
Diluted Shares Outstanding 587.9K shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.136M $1.083M $10.26M
YoY Change -88.93% -93.15% 290.04%
Cash & Equivalents $1.821M $1.083M $10.26M
Short-Term Investments
Other Short-Term Assets $3.186M $2.796M $14.19M
YoY Change -77.55% -57.75% 4002.02%
Inventory
Prepaid Expenses
Receivables $320.0K $2.029M $531.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.642M $5.908M $24.98M
YoY Change -81.42% -76.0% 422.75%
LONG-TERM ASSETS
Property, Plant & Equipment $42.50M $63.51M $44.60M
YoY Change -4.69% 227.09% 2075.46%
Goodwill
YoY Change
Intangibles $36.43M $38.84M $45.84M
YoY Change -20.52%
Long-Term Investments $750.0K
YoY Change 0.0%
Other Assets $1.150M $1.190M $1.121M
YoY Change 2.59% -34.65% 4.96%
Total Long-Term Assets $80.32M $103.8M $92.71M
YoY Change -13.37% 372.19% 2296.9%
TOTAL ASSETS
Total Short-Term Assets $4.642M $5.908M $24.98M
Total Long-Term Assets $80.32M $103.8M $92.71M
Total Assets $84.96M $109.7M $117.7M
YoY Change -27.81% 135.44% 1261.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.548M $3.843M $2.958M
YoY Change 19.95% -3.68% 886.0%
Accrued Expenses $2.721M $2.477M $2.859M
YoY Change -4.83% 4.16% 114.16%
Deferred Revenue
YoY Change
Short-Term Debt $12.09M $13.93M $8.121M
YoY Change 48.84%
Long-Term Debt Due $10.55M $6.462M
YoY Change
Total Short-Term Liabilities $29.52M $27.34M $15.68M
YoY Change 88.2% 313.73% 858.03%
LONG-TERM LIABILITIES
Long-Term Debt $3.841M
YoY Change
Other Long-Term Liabilities $287.0K $310.0K $746.0K
YoY Change -61.53% -75.61% -31.81%
Total Long-Term Liabilities $0.00 $3.841M $0.00
YoY Change 202.2% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.52M $27.34M $15.68M
Total Long-Term Liabilities $0.00 $3.841M $0.00
Total Liabilities $38.69M $40.42M $26.71M
YoY Change 44.87% 413.01% 877.88%
SHAREHOLDERS EQUITY
Retained Earnings -$221.8M -$194.4M -$123.1M
YoY Change 80.22% 61.44%
Common Stock $20.00K $273.5M $227.8M
YoY Change -99.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.80M $13.80M $13.76M
YoY Change 0.25%
Treasury Stock Shares 1.019M shares 1.019M shares 1.015M shares
Shareholders Equity $41.87M $65.30M $90.99M
YoY Change
Total Liabilities & Shareholders Equity $84.96M $109.7M $117.7M
YoY Change -27.81% 135.44% 1261.1%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$27.47M -$55.89M -$2.811M
YoY Change 877.16% 9062.62% -244.45%
Depreciation, Depletion And Amortization $5.215M $600.0K $3.269M
YoY Change 59.53% 240.91% -20531.25%
Cash From Operating Activities -$997.0K -$6.843M $8.330M
YoY Change -111.97% -402.92% 2063.64%
INVESTING ACTIVITIES
Capital Expenditures $1.779M -$9.284M -$29.69M
YoY Change -105.99% -43.16% 6918.68%
Acquisitions
YoY Change
Other Investing Activities $160.0K $6.877M -$9.946M
YoY Change -101.61% 3118.77%
Cash From Investing Activities -$1.619M -$2.407M -$39.64M
YoY Change -95.92% -85.26% 5314.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.354M 5.707M 25.75M
YoY Change -86.97% -67.93% 30919.28%
NET CHANGE
Cash From Operating Activities -997.0K -6.843M 8.330M
Cash From Investing Activities -1.619M -2.407M -39.64M
Cash From Financing Activities 3.354M 5.707M 25.75M
Net Change In Cash 738.0K -3.543M -5.559M
YoY Change -113.28% -195.22% 2005.68%
FREE CASH FLOW
Cash From Operating Activities -$997.0K -$6.843M $8.330M
Capital Expenditures $1.779M -$9.284M -$29.69M
Free Cash Flow -$2.776M $2.441M $38.02M
YoY Change -107.3% -86.87% 4605.32%

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1272000 usd
CY2022Q3 SLNH Depreciation Costs Associated With Cryptocurrency Mining
DepreciationCostsAssociatedWithCryptocurrencyMining
6010000 usd
CY2021Q3 SLNH Depreciation Costs Associated With Cryptocurrency Mining
DepreciationCostsAssociatedWithCryptocurrencyMining
156000 usd
SLNH Depreciation Costs Associated With Cryptocurrency Mining
DepreciationCostsAssociatedWithCryptocurrencyMining
15872000 usd
SLNH Depreciation Costs Associated With Cryptocurrency Mining
DepreciationCostsAssociatedWithCryptocurrencyMining
380000 usd
CY2022Q3 SLNH Cost Of Cryptocurrency Mining Revenue
CostOfCryptocurrencyMiningRevenue
10110000 usd
CY2021Q3 SLNH Cost Of Cryptocurrency Mining Revenue
CostOfCryptocurrencyMiningRevenue
779000 usd
SLNH Cost Of Cryptocurrency Mining Revenue
CostOfCryptocurrencyMiningRevenue
26964000 usd
SLNH Cost Of Cryptocurrency Mining Revenue
CostOfCryptocurrencyMiningRevenue
1652000 usd
CY2022Q3 SLNH Cost Of Data Hosting Revenue
CostOfDataHostingRevenue
1078000 usd
CY2021Q3 SLNH Cost Of Data Hosting Revenue
CostOfDataHostingRevenue
964000 usd
SLNH Cost Of Data Hosting Revenue
CostOfDataHostingRevenue
3192000 usd
SLNH Cost Of Data Hosting Revenue
CostOfDataHostingRevenue
964000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5686000 usd
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2316000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15441000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6118000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2378000 usd
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
7127000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1000 usd
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8064000 usd
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2317000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22568000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6119000 usd
CY2022Q3 SLNH Impairment On Equity Investment
ImpairmentOnEquityInvestment
750000 usd
SLNH Impairment On Equity Investment
ImpairmentOnEquityInvestment
750000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
28836000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-41716000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-936000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-57946000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-2959000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
1671000 usd
us-gaap Interest Expense
InterestExpense
7856000 usd
CY2022Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12317000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12317000 usd
CY2022Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-988000 usd
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-2606000 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000 usd
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
10000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-56690000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-933000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-80723000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2949000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-547000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1344000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-56143000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-933000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-79379000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2952000 usd
CY2022Q3 SLNH Mti Instruments
MTIInstruments
21000 usd
SLNH Mti Instruments
MTIInstruments
7581000 usd
CY2022Q3 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
-21000 usd
CY2021Q3 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
323000 usd
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
7681000 usd
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
500000 usd
us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
-70000 usd
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-21000 usd
CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
323000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
7751000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
500000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-56164000 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-610000 usd
us-gaap Profit Loss
ProfitLoss
-71628000 usd
us-gaap Profit Loss
ProfitLoss
-2452000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-272000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-272000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-55892000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-610000 usd
us-gaap Net Income Loss
NetIncomeLoss
-71356000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2452000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-3.94
CY2021Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.09
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-5.74
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.27
CY2021Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.03
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.53
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.04
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.94
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14698013000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12702393000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14494356000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11413678000 shares
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5916000 usd
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-666000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
34000 usd
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
62000 usd
CY2021Q1 SLNH Stock Issued During Period Value Issuance Restricted Stock Award Gross
StockIssuedDuringPeriodValueIssuanceRestrictedStockAwardGross
49000 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5395000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-1174000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1005000 usd
CY2021Q2 SLNH Stock Issued During Period Issuance Of Shares Stock Offering
StockIssuedDuringPeriodIssuanceOfSharesStockOffering
15403000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
21000 usd
CY2021Q2 SLNH Stock Issued During Period Value Issuance Restricted Stock Award Gross
StockIssuedDuringPeriodValueIssuanceRestrictedStockAwardGross
207000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20857000 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-610000 usd
CY2021Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
176000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
334000 usd
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
18298000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
18000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
9000 usd
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
38730000 usd
CY2021Q4 us-gaap Profit Loss
ProfitLoss
-2811000 usd
CY2021Q4 us-gaap Dividends Preferred Stock
DividendsPreferredStock
454000 usd
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
648000 usd
CY2021Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6759000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000 usd
CY2021Q4 SLNH Stock Issued During Period Value New Issues2
StockIssuedDuringPeriodValueNewIssues2
1377000 usd
CY2021Q4 SLNH Stock Issued During Period Value New Issues3
StockIssuedDuringPeriodValueNewIssues3
1917000 usd
CY2021Q4 SLNH Warrants Issued In Relation To Debt Financing
WarrantsIssuedInRelationToDebtFinancing
7037000 usd
CY2021Q4 SLNH Share Consideration Of Asset Acquisition
ShareConsiderationOfAssetAcquisition
33000000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
4784000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
90988000 usd
CY2022Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1722000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
90988000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-8906000 usd
CY2022Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
749000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
955000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
957000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
738000 usd
CY2022Q1 SLNH Stock Issued During Period Value New Issues2
StockIssuedDuringPeriodValueNewIssues2
1342000 usd
CY2022Q1 SLNH Warrants Issued In Relation To Debt Financing
WarrantsIssuedInRelationToDebtFinancing
2257000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
87582000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-6557000 usd
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1382000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1064000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
77000 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8797000 usd
CY2022Q2 SLNH Stock Issued During Period Value Issuance Restricted Stock Award Gross
StockIssuedDuringPeriodValueIssuanceRestrictedStockAwardGross
23000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
41000 usd
CY2022Q2 SLNH Promissory Note Conversion To Preferred Shares
PromissoryNoteConversionToPreferredShares
13895000 usd
CY2022Q2 SLNH Warrants Issued In Relation To Debt Financing
WarrantsIssuedInRelationToDebtFinancing
3060000 usd
CY2022Q2 SLNH Treasury Shares Conversion
TreasurySharesConversion
-34000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
106566000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
106566000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-56164000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
879000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
76000 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4994000 usd
CY2022Q3 SLNH Stock Issued During Period Value Issuance Restricted Stock Award Gross
StockIssuedDuringPeriodValueIssuanceRestrictedStockAwardGross
11000 usd
CY2022Q3 SLNH Stock Issued During Surrender Of Warrants For Common Shares
StockIssuedDuringSurrenderOfWarrantsForCommonShares
-346000 usd
CY2022Q3 SLNH Stock Issued During Period Value New Issues2
StockIssuedDuringPeriodValueNewIssues2
1099000 usd
CY2022Q3 SLNH Warrants And Valuation Issued In Relation To Debt Financing
WarrantsAndValuationIssuedInRelationToDebtFinancing
9631000 usd
CY2022Q3 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
4294000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
69318000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
69318000 usd
us-gaap Profit Loss
ProfitLoss
-71628000 usd
us-gaap Profit Loss
ProfitLoss
-2452000 usd
SLNH Mti Instruments
MTIInstruments
7581000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-7751000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-500000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-79379000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2952000 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
22999000 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
381000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2747000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1373000 usd
SLNH Share Based Compensation Consultant
ShareBasedCompensationConsultant
121000 usd
SLNH Share Based Compensation Consultant
ShareBasedCompensationConsultant
49000 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
1344000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
28836000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
151000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
121000 usd
SLNH Impairment On Equity Investment
ImpairmentOnEquityInvestment
750000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12317000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6630000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2606000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
6000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1498000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
108000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
154000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
628000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
69000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
754000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
884000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3590000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
118000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
183000 usd
SLNH Increase Decrease In Operating Lease
IncreaseDecreaseInOperatingLease
148000 usd
SLNH Increase Decrease In Operating Lease
IncreaseDecreaseInOperatingLease
111000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-306000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
306000 usd
SLNH Costs Of Preferred Offering
CostsOfPreferredOffering
1910000 usd
SLNH Costs Of Preferred Offering
CostsOfPreferredOffering
1867000 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-382000 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
937000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5121000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2381000 usd
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
369000 usd
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
496000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61867000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17632000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
114000 usd
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
2525000 usd
SLNH Deposits Of Equipment Net
DepositsOfEquipmentNet
-6441000 usd
SLNH Deposits Of Equipment Net
DepositsOfEquipmentNet
5656000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53015000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23288000 usd
us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
9004000 usd
us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-37000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
16658000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
20165000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
17250000 usd
us-gaap Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
29736000 usd
us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
1847000 usd
SLNH Costs Of Notes And Short Term Debt Issuance
CostsOfNotesAndShortTermDebtIssuance
6269000 usd
SLNH Cash Dividend Distribution On Preferred Stock
CashDividendDistributionOnPreferredStock
3852000 usd
SLNH Cash Dividend Distribution On Preferred Stock
CashDividendDistributionOnPreferredStock
176000 usd
SLNH Contributions From Minority
ContributionsFromMinority
4293000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
153000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
101000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
779000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
9000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
39588000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
33635000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-18548000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
12728000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9373000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
459000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10258000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2630000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1083000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15817000 usd
SLNH Noncash Equipment Financing
NoncashEquipmentFinancing
4620000 usd
SLNH Interest Paid On Nydig Loans
InterestPaidOnNydigLoans
1148000 usd
SLNH Proceed Receivable From Sale Of Mti
ProceedReceivableFromSaleOfMti
-205000 usd
SLNH Notes Converted To Common Stock
NotesConvertedToCommonStock
2441000 usd
SLNH Warrant Consideration In Relation To Promissory Notes And Convertible Notes
WarrantConsiderationInRelationToPromissoryNotesAndConvertibleNotes
14602000 usd
SLNH Promissory Note Conversion To Preferred Shares Value
PromissoryNoteConversionToPreferredSharesValue
15236000 usd
SLNH Noncash Proceed On Sale Of Equipment
NoncashProceedOnSaleOfEquipment
290000 usd
SLNH Purchase Of Miner Equipment Using Restricted Stock
PurchaseOfMinerEquipmentUsingRestrictedStock
-207000 usd
SLNH Registration Fees In Prepaids And Accounts Payable
RegistrationFeesInPrepaidsAndAccountsPayable
-8000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_803_eus-gaap--NatureOfOperations_zsZt2gBVrnzi" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. <span id="xdx_82E_zypkgch6OTKc">Nature of Operations</span></span></p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Description of Business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Unless the context requires otherwise in these notes to the consolidated financial statements, the terms “SHI,” the “Company,” “we,” “us,” and “our” refer to Soluna Holdings, Inc. together with its consolidated subsidiaries, “SCI” refers to Soluna Computing, Inc., formerly known as EcoChain, Inc., and “MTI Instruments” refers to MTI Instruments, Inc.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHI currently conducts our business through our wholly-owned subsidiary, SCI. SCI is engaged in the mining of cryptocurrency through data centers that can be powered by renewable energy sources. Recently, SCI has built, and intends to continue to develop and build, modular data centers that are used for cryptocurrency mining and that in the future can be used for computing intensive, batchable applications, such as artificial intelligence and machine learning, with the goal of providing a cost-effective alternative to battery storage or transmission lines. Headquartered in Albany, New York, the Company uses technology and intentional design to solve complex, real-world challenges.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SCI was incorporated in Delaware on January 8, 2020 as EcoChain, Inc., which operates a cryptocurrency mining facility that integrates with the cryptocurrency blockchain network. Through the October 2021 acquisition by EcoChain, Inc. of an entity at the time named Soluna Computing, Inc., SCI also has a pipeline of certain cryptocurrency mining projects previously owned by Harmattan Energy, Ltd. (“HEL”) (formerly known as Soluna Technologies, Ltd.), a Canadian corporation incorporated under the laws of the Province of British Colombia that develops vertically-integrated, utility-scale computing facilities focused on cryptocurrency mining (“prop mining”) and cutting-edge blockchain applications. Following such acquisition, on November 15, 2021, SCI completed its conversion and redomicile to Nevada and changed its name from “EcoChain, Inc.” to “Soluna Computing, Inc.”. The following day, the acquired entity, Soluna Computing, Inc., changed its name to “Soluna Callisto Holdings Inc.” (“Soluna Callisto”). We earn revenue from this business as the mined cryptocurrencies are converted into U.S. dollars. SCI has also began mining operations in fiscal year 2021 in Murray, Kentucky and Calvert City, Kentucky. The mining facility in Calvert City currently performs hosting services and prop mining in which 10 megawatts is used for hosting services and 10 megawatts is used for prop mining. The mining facility in Murray, Kentucky operates fully on prop mining with a capacity of 25 megawatts. On September 17, 2022, SCI sold specified assets consisting mainly of mining equipment and other general equipment items to a buyer at its Wenatchee, Washington location. In addition, SCI entered into a management and hosting services agreement with the buyer to host several mining equipment now owned by the buyer. We have a development site in Texas (“Project Dorothy”) for a potential of up to 100 megawatts to be built at a wind farm with initial energization of 50 megawatts anticipated to begin in the first quarter of 2023, subject to Electric Reliability Council of Texas (“ERCOT”) approval and with ramp up likely to continue in fiscal year 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until the Sale (as defined below), we also operated though our wholly owned subsidiary, MTI Instruments, an instruments business engaged in the design, manufacture and sale of vibration measurement and system balancing solutions, precision linear displacement sensors, instruments and system solutions, and wafer inspection tools. MTI Instruments was incorporated in New York on March 8, 2000. MTI Instruments’ products consisted of engine vibration analysis systems for both military and commercial aircraft and electronic gauging instruments for position, displacement and vibration application within the industrial manufacturing markets, as well as in the research, design and process development markets. These systems, tools and solutions were developed for markets and applications that require consistent operation of complex machinery and the precise measurements and control of products, processes, and the development and implementation of automated manufacturing and assembly. On December 17, 2021, we announced that we had entered into a non-binding letter of intent with a potential buyer (the “Buyer”) regarding the potential sale of MTI Instruments (the “LOI”) to an unrelated third party. Pursuant to the LOI, the Buyer would acquire <span id="xdx_900_ecustom--PercentageOfIssuedAndOutstandingCommonStock_dp_uPure_c20211216__20211217__srt--ConsolidatedEntitiesAxis__custom--MTIMember_znmSjv8okAwl" title="Percentage of issued and outstanding common stock">100</span>% of the issued and outstanding common stock of MTI Instruments. As a result of the foregoing, the MTI Instruments business was reported as discontinued operations in our consolidated financial statements as of December 31, 2021 and prior periods included in our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 31, 2022 (the “Annual Report”), as well as in these consolidated financial statements as of September 30, 2022 and prior periods. On April 11, 2022, we consummated the Sale, MTI Instruments ceased to be our wholly-owned subsidiary and, as a result, we have exited the instruments business. See Note 14 for additional information on the Sale.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soluna Holdings, Inc., formerly known as Mechanical Technology, Incorporated was incorporated in Nevada on March 24, 2021, and is the successor to Mechanical Technology, Inc., which was incorporated in the State of New York in 1961, as a result of a merger which became effective on March 29, 2021, and is headquartered in Albany, New York. Effective November 2, 2021, the Company changed its name from “Mechanical Technology, Incorporated” to “Soluna Holdings, Inc.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font: normal 10pt Times New Roman, Times, Serif">On April 11, 2022, SHI entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) with NKX Acquiror, Inc. (the “Purchaser”), pursuant to which the Company sold on such date all of the issued and outstanding shares of capital stock of its wholly-owned subsidiary, MTI Instruments, for approximately $<span id="xdx_900_eus-gaap--Cash_iI_pn4n6_c20220411__srt--ConsolidatedEntitiesAxis__custom--MTIMember_zSaFXWIk6QE8" title="Cash">9.25</span> million in cash, subject to certain adjustments as set forth in the Stock Purchase Agreement (the “Sale”). The consideration paid by the Purchaser to the Company was based on an aggregate enterprise value of approximately $<span id="xdx_902_ecustom--ConsiderationPaidByPurchase_pn4n6_c20220410__20220411_z2PJp9J4Dxhi" title="Consideration paid by purchase">10.75</span> million. The Company recognized a gain on sale of approximately $<span id="xdx_901_eus-gaap--GainLossOnDispositionOfAssets1_pn5n6_c20220410__20220411_zD03G2SWp2Xg" title="Gain loss on disposition of assets1">7.6</span> million.</span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"> </p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Going Concern and Liquidity</span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s financial statements as of September 30, 2022 have been prepared using generally accepted accounting principles in the United States of America (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company did not generate sufficient revenue to generate net income, and has negative working capital as of September 30, 2022. In addition, the Company has seen a decline in the price of Bitcoin due its volatility, which could have a material and negative impact to our operations. These factors, among others indicate that there is substantial doubt about the Company’s ability to continue as a going concern within one year after issuance of these financial statements as of September 30, 2022, or November 14, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. In the near term, management is evaluating and implementing different strategies to obtain financing to fund the Company’s expenses and growth to achieve a level of revenue adequate to support the Company’s current cost structure. Financing strategies may include, but are not limited to, stock issuances, project level equity, debt borrowings, partnerships and/or collaborations. If the Company is unable to meet its financial obligations, it could be forced to restructure or refinance, seek additional equity capital or sell its assets. The Company might then be unable to obtain such financing or capital or sell its assets on satisfactory terms. There can be no assurance that additional financing will be available to the Company when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to obtain the additional financing on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its development activities or perhaps even cease the operation of its business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, as discussed above and further in Notes 14, and 15, the Company sold the MTI Instruments business in April 2022 to focus on developing and monetizing green, zero-carbon computing and cryptocurrency mining facilities. The Company received approximately $<span id="xdx_90B_ecustom--ReceivedInCash_iI_pn5n6_c20220930_zsuz2IBIRYcg" title="Received in cash">9.0</span> million in cash, net of transaction costs, from the Sale.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To further implement management’s strategy, the Company entered into transactions to (i) recapitalize and negotiate revised terms with senior secured lenders, which released collateral (thus enabling execution of the project financing strategy), (ii) provide a means for Noteholders (as defined in Note 8) to reduce the Company’s debt through the equity markets, including by entering into the Addendum and Addendum Amendment (as defined in Note 8), which was intended to <span style="color: #222222">allow the Company to convert up to $<span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn5n6_c20220101__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--RangeAxis__srt--MaximumMember_zauLvmUMpdKk" title="Debt conversion converted instrument amount1">3.3</span> million notes into common stock and redeem up to $<span id="xdx_900_eus-gaap--NotesPayableCurrent_iI_pn5n6_c20220930__srt--RangeAxis__srt--MaximumMember_z1eS380QJuy8" title="Notes payable">6.6</span> million of notes payable, and (iii) issue and sell $<span id="xdx_901_ecustom--PreferredStockIssuedAndSold_iI_pn5n6_c20220930_zHD0rlf2SQIi" title="Preferred stock issued and sold">5.0</span> million in a new series of preferred stock. In addition, in May 2022, </span>SCI <span style="color: #222222">entered into a structural understanding with Soluna </span>SLC Fund I Projects Holdco LLC (“Spring Lane”), a Delaware limited liability company, pursuant to which Spring Lane agreed <span style="color: #222222">to provide up to $<span id="xdx_90E_eus-gaap--ProceedsFromLoanOriginations1_pn5n6_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember__srt--RangeAxis__srt--MaximumMember_zVHd0OfJOVa7" title="Amount in project financing">35.0</span> million in project financing subject to various milestones and conditions precedent; following the recapitalization and restructuring discussed above, and in August 2022, the Company entered into an agreement with Spring Lane for an initial funding of up to $<span id="xdx_902_ecustom--InitialFundingAmount_iI_pn5n6_c20220831__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember__srt--RangeAxis__srt--MaximumMember_zW5eQIitNsDe" title="Initial funding amount">12.5</span> million from the previously agreed-upon $<span id="xdx_904_eus-gaap--OtherCommitment_iI_pn5n6_c20220831__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember_zhRVXfqgpITl" title="Commitment">35.0</span> million commitment from Spring Lane for </span>Project Dorothy<span style="color: #222222">. As of September 30, 2022, the Company has received $<span id="xdx_906_eus-gaap--ProceedsFromContributionsFromParent_pn5n6_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember_z8FrTdruGwbk" title="Proceeds from contributions">4.3</span> million worth of contributions from Spring Lane. </span>Although we are currently in discussions with NYDIG to potentially modify the repayment schedule under the NYDIG Facility, for the months of September 2022 and October 2022, the Company received a waiver to make interest-only payments which has delayed the Company’s future monthly principal and interest payments by two months, there is no assurance that the Company will be able to modify the repayment schedule under the NYDIG facility for future payments. <span style="color: #222222">In October 2022, the Company issued a convertible promissory note to Spring Lane (the “Spring Lane Note”) with an aggregate principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20221031__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zC0nDdOTree2" title="Aggregate principal amount">850</span> thousand. Upon closing of the October 2022 Offering (as defined herein), the Company issued to Spring Lane an aggregate of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20221001__20221031__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zzzXd2pduDT1" title="Share issued">593,065</span> shares of common stock upon the automatic conversion of the Spring Lane Note, equal to the aggregate principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20221031__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zCHWp1aWtTN7" title="Aggregate principal amount">850,000</span> and accrued and unpaid interest thereon at the same price per share as the October 2022 Offering. See Note 18</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #222222">In addition to the proceeds from the foregoing transactions and together with the Company’s cash on hand of approximately $<span id="xdx_90C_eus-gaap--Cash_iI_pn5n6_c20220930__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember_zb6e6fVImYBk" title="Cash on hand">1.1</span> million as of September 30, 2022 the Company will need additional capital raising activities, to meet its outstanding commitments relating to capital expenditures as of September 30, 2022 of $<span id="xdx_908_ecustom--CashExpenditure_iI_pn5n6_c20220930__srt--ConsolidatedEntitiesAxis__custom--SpringLaneMember_zbEBbCVHx2t4" title="Cash expenditure">0.9</span> million and other operational needs, and management continues to evaluate different strategies to obtain financing to fund operations. H</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">owever, management cannot provide any assurances that the Company will be successful in accomplishing additional financing or any of its other plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The COVID-19 <span style="background-color: white">global pandemic has been unprecedented and unpredictable, and the impact is likely to continue to result in significant national and global economic disruption, which may adversely affect our business. Although the Company has experienced some minor changes to our miner shipments due to disruptions in the global supply chain, the Company does not expect any material impact on our long-term strategic plans, our operations, or our liquidity due to the impacts of COVID-19. </span>Further, v<span style="background-color: white">arious macroeconomic factors could adversely affect our business and the results of our operations and financial condition, including changes in inflation, interest rates and overall economic conditions. For instance, inflation could negatively impact the Company by increasing our labor costs, through higher wages and higher interest rates. If inflation or other factors were to significantly increase our business costs, our ability to develop our current projects may be negatively affected. Interest rates, the liquidity of the credit markets and the volatility of the capital markets could also affect the operation of our business and our ability to raise capital in order to fund our operations. However, the Company is actively monitoring this situation and the possible effects on our financial condition, liquidity, operations, suppliers, and the industry.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.5in"> </p>
CY2022Q2 SLNH Consideration Paid By Purchase
ConsiderationPaidByPurchase
10750000 usd
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
7600000 usd
CY2022Q3 SLNH Received In Cash
ReceivedInCash
9000000.0 usd
CY2022Q3 SLNH Preferred Stock Issued And Sold
PreferredStockIssuedAndSold
5000000.0 usd
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.678 pure
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_846_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z9Yt9zCTnvha" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_z7fl9LxRj9Ic">Reclassification</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations or net assets. The reclassifications relate to the presentation of discontinued operations and a correction of an error.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p>
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
630000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
38730000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
90988000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
90988000 usd
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2029000 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
531000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2022Q3 us-gaap Other Receivables
OtherReceivables
1560000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
80937000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
47362000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17426000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2765000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
63511000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
44597000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
600000.0 usd
CY2021Q3 us-gaap Depreciation
Depreciation
157000 usd
us-gaap Depreciation
Depreciation
15900000 usd
us-gaap Depreciation
Depreciation
381000 usd
CY2022Q3 SLNH Loss Of Miners Disposal
LossOfMinersDisposal
1000000.0 usd
SLNH Loss Of Miners Disposal
LossOfMinersDisposal
2600000 usd
CY2022Q3 SLNH Net Book Value
NetBookValue
3300000 usd
SLNH Net Book Value
NetBookValue
5400000 usd
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2350000 usd
us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
2800000 usd
CY2022Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
26800000 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
26800000 usd
CY2021Q4 us-gaap Termination Loans
TerminationLoans
1900000 usd
CY2022Q3 SLNH Merger Shares Reduce
MergerSharesReduce
2970000 shares
CY2022Q3 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
47533000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8691000 usd
CY2022Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
38842000 usd
CY2021Q4 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
47418000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1579000 usd
CY2021Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
45839000 usd
CY2022Q3 us-gaap Other Expenses
OtherExpenses
2400000 usd
us-gaap Other Expenses
OtherExpenses
7100000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2371000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9484000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9484000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9484000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7904000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
115000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38842000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0096 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0166 pure
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
547000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000 usd
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
As such, the Company is required to adjust the value of the strategic contract pipeline by approximately $10.9 million at inception date, in which was recorded as a deferred tax liability and this amount will be amortized over the life of the asset. For the three and nine months ended September 30, 2022, the Company amortized $547 thousand and $1.6 million.
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25900000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11900000 usd
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.08 pure
CY2022Q3 us-gaap Deferred Finance Costs Noncurrent Gross
DeferredFinanceCostsNoncurrentGross
14108000 usd
CY2021Q4 us-gaap Deferred Finance Costs Noncurrent Gross
DeferredFinanceCostsNoncurrentGross
14927000 usd
CY2021Q4 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
967000 usd
CY2022Q3 SLNH Debt Instrument Lessdiscount From Issuance Of Warrants
DebtInstrumentLessdiscountFromIssuanceOfWarrants
775000 usd
CY2021Q4 SLNH Debt Instrument Lessdiscount From Issuance Of Warrants
DebtInstrumentLessdiscountFromIssuanceOfWarrants
5747000 usd
CY2022Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
52000 usd
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
1092000 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
13281000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
7121000 usd
CY2021Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.08 pure
CY2021Q4 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-04-25
CY2021Q4 us-gaap Debt Conversion Original Debt Interest Rate Of Debt
DebtConversionOriginalDebtInterestRateOfDebt
0.18 pure
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
520241 usd
CY2022Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
13006022 usd
CY2022Q3 us-gaap Escrow Deposit
EscrowDeposit
1000000.0 usd
CY2022Q3 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
1100000 usd
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
293350 shares
CY2022Q3 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
3.75
us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
12300000 usd
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
13000000.0 usd
CY2022Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
14100000 usd
CY2022Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
56000 usd
CY2021Q3 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0075 pure
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0625 pure
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4000 usd
us-gaap Description Of Interest Rate Risk Exposure
DescriptionOfInterestRateRiskExposure
12% thru 15%
CY2022Q3 us-gaap Loans Payable
LoansPayable
14387000 usd
CY2022Q3 us-gaap Loans Payable
LoansPayable
14387000 usd
CY2022Q3 SLNH Debt Instrument Periodic Payments
DebtInstrumentPeriodicPayments
3841000 usd
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
243000 usd
CY2022Q3 SLNH Long Terms Debt Average Amount Outstanding
LongTermsDebtAverageAmountOutstanding
10303000 usd
CY2022Q3 us-gaap Debt Current
DebtCurrent
6462000 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
3841000 usd
CY2022Q1 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
730000 usd
CY2022Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
4600000 usd
CY2022Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.14 pure
CY2022Q1 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
9800000 usd
CY2021Q3 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
1000000.0 usd
CY2021Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000.0 usd
us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
350000 usd
CY2022Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
650000 usd
CY2022Q3 us-gaap Line Of Credit
LineOfCredit
25000 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15395068 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
13754206 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
812325 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
832291 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
7582788 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
517454 shares
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9744858 shares
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
51000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
45000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
151000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
121000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
51000 usd
CY2021Q3 us-gaap Lease Cost
LeaseCost
45000 usd
us-gaap Lease Cost
LeaseCost
151000 usd
us-gaap Lease Cost
LeaseCost
121000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M8D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0383 pure
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
148000 usd
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
111000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
20000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
53000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
167000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
85000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
305000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
295000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber
195003 shares
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
186000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
109000 usd
CY2022Q3 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
358000 usd
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
1000 usd
us-gaap Professional Fees
ProfessionalFees
3000 usd
CY2021Q3 us-gaap Professional Fees
ProfessionalFees
3000 usd
us-gaap Professional Fees
ProfessionalFees
18000 usd
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
237000 usd
SLNH Acquire Additional Assets
AcquireAdditionalAssets
112000 usd
CY2022Q3 SLNH Investment Percentage
InvestmentPercentage
0.200 pure
CY2021 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
245000 usd
CY2020Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
500000 usd
CY2022Q3 SLNH Equity Method Investment Amount
EquityMethodInvestmentAmount
0 usd
SLNH Equity Method Investment Amount
EquityMethodInvestmentAmount
0 usd
CY2022Q3 SLNH Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue1
3.26
CY2022Q3 SLNH Common Stock Subject To Vest
CommonStockSubjectToVest
68226 shares
SLNH Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue1
9.19
SLNH Common Stock Subject To Vest
CommonStockSubjectToVest
306500 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
37% vesting 12 months from the date of the grant, 33% vesting 24 months from the date of the grant, and 30% vesting 36 months from the date of the grant, in each case subject to the reporting person remaining in the service of the Company on each such vesting date. 195,003 shares of common stock shall vest as follows: 25% of such restricted stock units shall vest on the first anniversary, and the remaining shares shall vest ratably over the succeeding 36-month period, with (1/36) of such vesting on the last day of each such calendar month. 46,498 shares of common stock are performance-based awards that will vest in the following year in January 2023 based on approval of the Board based on achievement of key performance objectives
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1949000 usd
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1799000 usd
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
4933000 usd
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
661000 usd
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
728000 usd
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
1616000 usd
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
576000 usd
us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
573000 usd
us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
1642000 usd
CY2021Q3 SLNH Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax1
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax1
323000 usd
SLNH Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax1
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax1
100000 usd
SLNH Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax1
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax1
500000 usd
CY2022Q3 SLNH Pretax Loss Gain On Sale Of Mti Instruments
PretaxLossGainOnSaleOfMtiInstruments
-21000 usd
SLNH Pretax Loss Gain On Sale Of Mti Instruments
PretaxLossGainOnSaleOfMtiInstruments
7581000 usd
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
70000 usd
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-21000 usd
CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
323000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
7751000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
500000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
1189000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Inventory Current
DisposalGroupIncludingDiscontinuedOperationInventoryCurrent
964000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets Current
DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent
54000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
92000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Deferred Tax Assets
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssets
101000 usd
CY2021Q4 SLNH Disposal Group Including Discontinued Operation Operating Lease Rightofuse Assets
DisposalGroupIncludingDiscontinuedOperationOperatingLeaseRightofuseAssets
628000 usd
CY2021Q4 SLNH Assets Of Disposal Group Including Discontinued Operation Current1
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent1
3028000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
136000 usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent
479000 usd
CY2021Q4 SLNH Disposal Group Including Discontinued Operation Operating Lease Liabilitycurrent
DisposalGroupIncludingDiscontinuedOperationOperatingLeaseLiabilitycurrent
628000 usd
CY2021Q4 SLNH Liabilities Of Disposal Group Including Discontinued Operation Current1
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent1
1243000 usd
SLNH Mti Instruments Sale Textblock
MtiInstrumentsSaleTextblock
<p id="xdx_80E_ecustom--MtiInstrumentsSaleTextblock_zZHlTXcwj7na" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15. <span id="xdx_827_zkbg9vl2cBW1">MTI Instruments Sale</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As described in Note 1, the Company entered into a Stock Purchase Agreement with Purchaser, pursuant to which the Company sold on April 11, 2022 all of the issued and outstanding shares of capital stock of our wholly-owned subsidiary, MTI Instruments for an all-cash purchase price of $<span id="xdx_900_ecustom--InstrumentPurchasePrice_iI_pn4n6_c20220411_ztRfnaK3pcMk" title="Instrument purchase price">10.75</span> million, subject to working capital and certain other adjustments as set forth in the Stock Purchase Agreement. The purchase price did not include specified debt of MTI Instruments, which is the responsibility of the Company. This debt was transferred to the Purchaser at the date of Sale and is included in the closing balance sheet as shown below, which resulted in a reduction in the consideration payable to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_ecustom--GainWithSaleTableTextblock_z1hs9OrTVT31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the gain associated with the Sale.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Dollars in thousands)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zXONLLxMkDBb">Schedule of Gain on Sale</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20220411_zFd6E4J8Bs1g" style="font-weight: bold; text-align: center">As of April 11,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_ecustom--ConsiderationReceivedFromSale_iI_zb9njSEEzJVh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Consideration received</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ClosingCash_iI_zAeFC5oJI1lc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Plus: closing cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--TransactionCosts_iI_zV8dwFqfYH4l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Less: transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(998</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--ClosingIndebtedness_iI_zlecquSSWGY9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Less: closing indebtedness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(483</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--NewWorkingCapitalAdjustments_iNI_di_zM5h4nTCSuu1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Plus: new working capital adjustments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(61</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--AdjustmentConsiderationReceivedFromSale_iI_z1omlRDjg5Jf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Adjusted consideration received</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,209</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Cash_iI_zTu0wnHAWnrc" style="vertical-align: bottom; background-color: White"> <td>Cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsReceivableNetCurrent_iI_z1I1MKl4RYXb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,119</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryNet_iI_z8nDQFSL9is8" style="vertical-align: bottom; background-color: White"> <td>Inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">888</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zQI7p7OfPYlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expense and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zjS2xu0iPLei" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">579</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsNet_iI_zaxByeSi3K36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iI_zbyG2Qv9u0E9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Property, plant and equipment, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">76</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Assets_iI_zePDdPHVuN07" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Total assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,876</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableCurrent_iI_zqMyty9KYChd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedLiabilitiesCurrent_iI_znPbzsWninMb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">547</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_z6q7vjXw4qPf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">579</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Liabilities_iI_zLaUL6ROK98c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,248</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NetAssetsTransferred_iI_zB0OhY1edRrb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Net assets transferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredGainOnSaleOfProperty_iI_z6359dIsPNp" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Gain on sale</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,581</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_z6f0f0QYcDhg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 SLNH Instrument Purchase Price
InstrumentPurchasePrice
10750000 usd
SLNH Gain With Sale Table Textblock
GainWithSaleTableTextblock
<p id="xdx_89C_ecustom--GainWithSaleTableTextblock_z1hs9OrTVT31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the gain associated with the Sale.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Dollars in thousands)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_zXONLLxMkDBb">Schedule of Gain on Sale</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20220411_zFd6E4J8Bs1g" style="font-weight: bold; text-align: center">As of April 11,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_403_ecustom--ConsiderationReceivedFromSale_iI_zb9njSEEzJVh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Consideration received</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ClosingCash_iI_zAeFC5oJI1lc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Plus: closing cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--TransactionCosts_iI_zV8dwFqfYH4l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Less: transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(998</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--ClosingIndebtedness_iI_zlecquSSWGY9" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Less: closing indebtedness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(483</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--NewWorkingCapitalAdjustments_iNI_di_zM5h4nTCSuu1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Plus: new working capital adjustments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(61</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--AdjustmentConsiderationReceivedFromSale_iI_z1omlRDjg5Jf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Adjusted consideration received</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,209</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Cash_iI_zTu0wnHAWnrc" style="vertical-align: bottom; background-color: White"> <td>Cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsReceivableNetCurrent_iI_z1I1MKl4RYXb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,119</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryNet_iI_z8nDQFSL9is8" style="vertical-align: bottom; background-color: White"> <td>Inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">888</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zQI7p7OfPYlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid expense and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zjS2xu0iPLei" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">579</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsNet_iI_zaxByeSi3K36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">171</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iI_zbyG2Qv9u0E9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Property, plant and equipment, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">76</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Assets_iI_zePDdPHVuN07" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Total assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,876</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccountsPayableCurrent_iI_zqMyty9KYChd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedLiabilitiesCurrent_iI_znPbzsWninMb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">547</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_z6q7vjXw4qPf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">579</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Liabilities_iI_zLaUL6ROK98c" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,248</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NetAssetsTransferred_iI_zB0OhY1edRrb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-weight: bold; text-align: left">Net assets transferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredGainOnSaleOfProperty_iI_z6359dIsPNp" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Gain on sale</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,581</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2022Q2 SLNH Consideration Received From Sale
ConsiderationReceivedFromSale
10750000 usd
CY2022Q2 SLNH Closing Cash
ClosingCash
1000 usd
CY2022Q2 SLNH Transaction Costs
TransactionCosts
-998000 usd
CY2022Q2 SLNH Closing Indebtedness
ClosingIndebtedness
-483000 usd
CY2022Q2 SLNH New Working Capital Adjustments
NewWorkingCapitalAdjustments
61000 usd
CY2022Q2 SLNH Adjustment Consideration Received From Sale
AdjustmentConsiderationReceivedFromSale
9209000 usd
CY2022Q2 us-gaap Cash
Cash
1000 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1119000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
888000 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
42000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
579000 usd
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
171000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
76000 usd
CY2022Q2 us-gaap Assets
Assets
2876000 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
122000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
547000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
579000 usd
CY2022Q2 us-gaap Liabilities
Liabilities
1248000 usd
CY2022Q2 SLNH Net Assets Transferred
NetAssetsTransferred
1628000 usd
CY2022Q2 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
7581000 usd
CY2022Q3 us-gaap Other Commitments Description
OtherCommitmentsDescription
Pursuant to the Dorothy Contribution Agreement, the Company committed to a capital contribution of up to approximately $26.3 million to DVSL (the “Company Commitment”), and on August 5, 2022, the Company was deemed to have contributed approximately $8.1 million, through payment of capital expenditures and development costs made on behalf of DVSL by the Company prior to August 5, 2022. Further under the Agreement, Spring Lane committed to a capital contribution of up to $12.5 million to DVSL (the “Spring Lane Dorothy Commitment”), and as of September 30, 2022, Spring Lane contributed approximately $4.3 million
CY2022Q3 SLNH Deemed Capital Contribution
DeemedCapitalContribution
8100000 usd
CY2022Q3 SLNH Mti Instruments
MTIInstruments
21000 usd
SLNH Mti Instruments
MTIInstruments
7581000 usd

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