2023 Q2 Form 10-Q Financial Statement
#000149315223017349 Filed on May 15, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
Revenue | $2.068M | $3.082M | $4.183M |
YoY Change | -76.16% | -66.92% | 15.04% |
Cost Of Revenue | $2.458M | $3.138M | $6.350M |
YoY Change | -75.69% | -64.58% | 16.43% |
Gross Profit | -$390.0K | -$56.00K | -$2.167M |
YoY Change | -72.78% | -112.25% | 19.2% |
Gross Profit Margin | -18.86% | -1.82% | -51.8% |
Selling, General & Admin | $6.515M | $6.747M | $3.762M |
YoY Change | -10.13% | -7.0% | 25.82% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $547.0K | $632.0K | $5.215M |
YoY Change | -90.05% | -90.56% | 59.53% |
% of Gross Profit | |||
Operating Expenses | $6.515M | $6.747M | $6.141M |
YoY Change | -10.13% | -7.0% | 3350.0% |
Operating Profit | -$7.074M | -$7.012M | -$8.308M |
YoY Change | -25.0% | 3.15% | 316.23% |
Interest Expense | $439.0K | $1.374M | -$519.0K |
YoY Change | -86.72% | -147.69% | -72.38% |
% of Operating Profit | |||
Other Income/Expense, Net | -$240.0K | $12.00K | $20.00K |
YoY Change | -110.0% | -200.0% | |
Pretax Income | -$9.804M | -$7.979M | -$27.64M |
YoY Change | -31.7% | -17.56% | 609.6% |
Income Tax | -$547.0K | -$547.0K | -$2.000K |
% Of Pretax Income | |||
Net Earnings | -$8.775M | -$7.062M | -$27.47M |
YoY Change | 33.83% | -20.71% | 877.16% |
Net Earnings / Revenue | -424.32% | -229.14% | -656.66% |
Basic Earnings Per Share | -$0.34 | -$0.35 | |
Diluted Earnings Per Share | -$0.34 | -$0.33 | -$1.67 |
COMMON SHARES | |||
Basic Shares Outstanding | 27.02M shares | 24.68M shares | 17.54M shares |
Diluted Shares Outstanding | 28.15M shares | 864.9K shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $7.500M | $4.553M | $1.136M |
YoY Change | 62.13% | 61.05% | -88.93% |
Cash & Equivalents | $4.600M | $5.046M | $1.821M |
Short-Term Investments | |||
Other Short-Term Assets | $13.70M | $2.814M | $3.186M |
YoY Change | 11.92% | -85.38% | -77.55% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $1.537M | $452.0K | $320.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $22.67M | $7.819M | $4.642M |
YoY Change | 29.13% | -65.1% | -81.42% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $37.76M | $38.81M | $42.50M |
YoY Change | 49584.21% | -43.44% | -4.69% |
Goodwill | |||
YoY Change | |||
Intangibles | $31.74M | $34.09M | $36.43M |
YoY Change | -22.93% | -20.52% | |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $4.000M | $2.950M | $1.150M |
YoY Change | 275.59% | 177.78% | 2.59% |
Total Long-Term Assets | $73.98M | $76.42M | $80.32M |
YoY Change | -603.98% | -32.92% | -13.37% |
TOTAL ASSETS | |||
Total Short-Term Assets | $22.67M | $7.819M | $4.642M |
Total Long-Term Assets | $73.98M | $76.42M | $80.32M |
Total Assets | $96.65M | $84.24M | $84.96M |
YoY Change | 3260.47% | -38.21% | -27.81% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.150M | $3.822M | $3.548M |
YoY Change | 2481.97% | -12.4% | 19.95% |
Accrued Expenses | $4.099M | $2.847M | $2.721M |
YoY Change | 649.36% | 20.33% | -4.83% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $10.41M | $12.09M |
YoY Change | -100.0% | -38.76% | 48.84% |
Long-Term Debt Due | $8.100M | $7.758M | $10.55M |
YoY Change | 7.63% | 7.82% | |
Total Short-Term Liabilities | $16.53M | $25.04M | $29.52M |
YoY Change | -39.33% | -23.02% | 88.2% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $11.90M | $0.00 | |
YoY Change | 198.84% | -100.0% | |
Other Long-Term Liabilities | $1.800M | $686.0K | $287.0K |
YoY Change | 176.5% | -2.14% | -61.53% |
Total Long-Term Liabilities | $13.70M | $686.0K | $0.00 |
YoY Change | 244.05% | -89.45% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $16.53M | $25.04M | $29.52M |
Total Long-Term Liabilities | $13.70M | $686.0K | $0.00 |
Total Liabilities | $38.03M | $34.06M | $38.69M |
YoY Change | 2946.96% | -30.14% | 44.87% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$237.6M | -$228.8M | -$221.8M |
YoY Change | 71.54% | 73.41% | 80.22% |
Common Stock | $31.00K | $26.00K | $20.00K |
YoY Change | -99.99% | -99.99% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $13.80M | $13.80M | $13.80M |
YoY Change | 0.0% | 0.25% | |
Treasury Stock Shares | 1.019M shares | ||
Shareholders Equity | $32.77M | $37.39M | $41.87M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $96.65M | $84.24M | $84.96M |
YoY Change | -34.66% | -38.21% | -27.81% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$8.775M | -$7.062M | -$27.47M |
YoY Change | 33.83% | -20.71% | 877.16% |
Depreciation, Depletion And Amortization | $547.0K | $632.0K | $5.215M |
YoY Change | -90.05% | -90.56% | 59.53% |
Cash From Operating Activities | -$790.0K | -$3.053M | -$997.0K |
YoY Change | -201.28% | -332.88% | -111.97% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $2.060M | $860.0K | $1.779M |
YoY Change | -107.57% | -103.38% | -105.99% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$7.080M | -$200.0K | $160.0K |
YoY Change | -151.74% | -92.28% | -101.61% |
Cash From Investing Activities | -$9.130M | -$435.0K | -$1.619M |
YoY Change | -32.55% | -98.45% | -95.92% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 15.12M | $6.713M | 3.354M |
YoY Change | 3.88% | -65.26% | -86.97% |
NET CHANGE | |||
Cash From Operating Activities | -790.0K | -$3.053M | -997.0K |
Cash From Investing Activities | -9.130M | -$435.0K | -1.619M |
Cash From Financing Activities | 15.12M | $6.713M | 3.354M |
Net Change In Cash | 5.200M | $3.225M | 738.0K |
YoY Change | 189.05% | -143.4% | -113.28% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$790.0K | -$3.053M | -$997.0K |
Capital Expenditures | $2.060M | $860.0K | $1.779M |
Free Cash Flow | -$2.850M | -$3.913M | -$2.776M |
YoY Change | -110.18% | -114.61% | -107.3% |
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CY2022Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
203000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
379000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
84000 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
8339000 | usd |
CY2022Q4 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
8886000 | usd |
CY2023Q1 | us-gaap |
Liabilities
Liabilities
|
34062000 | usd |
CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
38689000 | usd |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
26433162 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
25414646 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
19712722 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
18694206 | shares |
CY2023Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
26000 | usd |
CY2022Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
20000 | usd |
CY2023Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
279985000 | usd |
CY2022Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
277410000 | usd |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-228831000 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-221769000 | usd |
CY2023Q1 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
|
1018516 | shares |
CY2022Q4 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
|
1018516 | shares |
CY2023Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
13798000 | usd |
CY2022Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
13798000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
37385000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
41866000 | usd |
CY2023Q1 | us-gaap |
Minority Interest
MinorityInterest
|
12794000 | usd |
CY2022Q4 | us-gaap |
Minority Interest
MinorityInterest
|
4406000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
50179000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
46272000 | usd |
CY2023Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
84241000 | usd |
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
84961000 | usd |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
3082000 | usd |
CY2022Q1 | us-gaap |
Revenues
Revenues
|
9316000 | usd |
CY2023Q1 | us-gaap |
Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
|
2299000 | usd |
CY2022Q1 | us-gaap |
Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
|
3397000 | usd |
CY2023Q1 | SLNH |
Depreciation Costs Associated With Cryptocurrency Mining
DepreciationCostsAssociatedWithCryptocurrencyMining
|
625000 | usd |
CY2022Q1 | SLNH |
Depreciation Costs Associated With Cryptocurrency Mining
DepreciationCostsAssociatedWithCryptocurrencyMining
|
4324000 | usd |
CY2023Q1 | SLNH |
Cost Of Cryptocurrency Mining Revenue
CostOfCryptocurrencyMiningRevenue
|
2924000 | usd |
CY2022Q1 | SLNH |
Cost Of Cryptocurrency Mining Revenue
CostOfCryptocurrencyMiningRevenue
|
7721000 | usd |
CY2023Q1 | SLNH |
Cost Of Data Hosting Revenue
CostOfDataHostingRevenue
|
214000 | usd |
CY2022Q1 | SLNH |
Cost Of Data Hosting Revenue
CostOfDataHostingRevenue
|
1138000 | usd |
CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4370000 | usd |
CY2022Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4882000 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
2377000 | usd |
CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
2373000 | usd |
CY2023Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
6747000 | usd |
CY2022Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
7255000 | usd |
CY2023Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
209000 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7012000 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-6798000 | usd |
CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
1374000 | usd |
CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
2881000 | usd |
CY2023Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
473000 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-78000 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
12000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-7979000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-9679000 | usd |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-547000 | usd |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-547000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-7432000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-9132000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
|
226000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
226000 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-7432000 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-8906000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-370000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7062000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8906000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.35 | |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.71 | |
CY2022Q1 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
0.02 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.35 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.69 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
21621320 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
13870646 | shares |
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 |
Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
|
-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 | SLNH |
Stock Issued During Period Value Warrant Exercised
StockIssuedDuringPeriodValueWarrantExercised
|
738000 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
1342000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
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 |
Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
|
-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 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
23000 | usd |
CY2022Q2 | SLNH |
Stock Issued During Period Value Warrant Exercised
StockIssuedDuringPeriodValueWarrantExercised
|
41000 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
13895000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
3060000 | usd |
CY2022Q2 | SLNH |
Stock Converted During Period Value Treasury Shares
StockConvertedDuringPeriodValueTreasuryShares
|
-34000 | 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 Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
|
-1722000 | 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 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
11000 | usd |
CY2022Q3 | SLNH |
Stock Issued During Surrender Of Warrants For Common Shares
StockIssuedDuringSurrenderOfWarrantsForCommonShares
|
-346000 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
1099000 | usd |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
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 |
CY2022Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-27468000 | usd |
CY2022Q4 | us-gaap |
Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
|
-236000 | usd |
CY2022Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
957000 | usd |
CY2022Q4 | SLNH |
Stock Issued During Period Value Securities Purchase Offering Value
StockIssuedDuringPeriodValueSecuritiesPurchaseOfferingValue
|
769000 | usd |
CY2022Q4 | SLNH |
Stock Issued During Period Issuanceof Common Value Offering
StockIssuedDuringPeriodIssuanceofCommonValueOffering
|
1583000 | usd |
CY2022Q4 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
2000 | usd |
CY2022Q4 | SLNH |
Stock Issued During Period Value Promissory Note Conversion
StockIssuedDuringPeriodValuePromissoryNoteConversion
|
854000 | usd |
CY2022Q4 | SLNH |
Stock Issued During Period Value In Relation To Common Offering
StockIssuedDuringPeriodValueInRelationToCommonOffering
|
1000 | usd |
CY2022Q4 | us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
492000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
46272000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
46272000 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-7432000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
|
-131000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
865000 | usd |
CY2023Q1 | SLNH |
Stock Issued During Period Value Securities Purchase Offering Value
StockIssuedDuringPeriodValueSecuritiesPurchaseOfferingValue
|
439000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
1394000 | usd |
CY2023Q1 | us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
8758000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
14000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
50179000 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-7432000 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-8906000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
226000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-7432000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-9132000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
632000 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
4328000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
|
2369000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
|
2369000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
847000 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
927000 | usd |
CY2023Q1 | SLNH |
Share Based Compensation Consultant
ShareBasedCompensationConsultant
|
32000 | usd |
CY2022Q1 | SLNH |
Share Based Compensation Consultant
ShareBasedCompensationConsultant
|
28000 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-547000 | usd |
CY2022Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-547000 | usd |
CY2023Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
209000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
56000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
50000 | usd |
CY2023Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
473000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
501000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2447000 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-78000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-41000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-206000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
26000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
594000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
300000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-59000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1368000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1405000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-453000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-9000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-54000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-49000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
104000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-5000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-687000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3053000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
801000 | usd |
CY2022Q1 | us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
510000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
860000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
25438000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
24000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
40000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
249000 | usd |
CY2023Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-200000 | usd |
CY2022Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
2590000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-435000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-28068000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
1170000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
41000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
|
900000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
|
19767000 | usd |
CY2022Q1 | SLNH |
Payments Of Preferred Stock Issuance Costs
PaymentsOfPreferredStockIssuanceCosts
|
155000 | usd |
CY2023Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
4000 | usd |
CY2022Q1 | us-gaap |
Payments Of Loan Costs
PaymentsOfLoanCosts
|
465000 | usd |
CY2022Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
749000 | usd |
CY2023Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
215000 | usd |
CY2022Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
980000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
5991000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
738000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6713000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
19326000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
3225000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-7941000 | usd |
CY2022Q1 | SLNH |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operation
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectDisposalGroupIncludingDiscontinuedOperation
|
510000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1821000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
10258000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5046000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2827000 | usd |
CY2022Q1 | SLNH |
Noncash Equipment Financing
NoncashEquipmentFinancing
|
4620000 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
6000 | usd |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
345000 | usd |
CY2023Q1 | SLNH |
Noncash Disposal Of Nydig Collateralized Equipment
NoncashDisposalOfNydigCollateralizedEquipment
|
3388000 | usd |
CY2023Q1 | us-gaap |
Stock Issued1
StockIssued1
|
1394000 | usd |
CY2022Q1 | us-gaap |
Stock Issued1
StockIssued1
|
1342000 | usd |
CY2022Q1 | SLNH |
Warrant Consideration In Relation To Promissory Notes And Convertible Notes
WarrantConsiderationInRelationToPromissoryNotesAndConvertibleNotes
|
2257000 | usd |
CY2023Q1 | SLNH |
Promissory Note Conversion To Preferred Shares Value
PromissoryNoteConversionToPreferredSharesValue
|
401000 | usd |
CY2022Q1 | SLNH |
Registration Fees In Prepaids And Accounts Payable
RegistrationFeesInPrepaidsAndAccountsPayable
|
-58000 | usd |
CY2023Q1 | SLNH |
Noncash Noncontrolling Interest Contributions
NoncashNoncontrollingInterestContributions
|
2767000 | usd |
CY2023Q1 | SLNH |
Series B Preferred Dividend In Accrued Expense
SeriesBPreferredDividendInAccruedExpense
|
-131000 | usd |
CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
397000 | usd |
CY2023Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_803_eus-gaap--NatureOfOperations_zn7BwYo1IRU4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_827_zPPnJksV7rU">Nature of Operations</span></b></span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0in"> </p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Business</span></p> <p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify; margin: 0pt"><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; 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; 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; 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; 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, Soluna Computing, Inc. (“SCI”). SCI is engaged in mining of cryptocurrency through data centers that can be powered by renewable energy sources. Recently, SCI has built modular data centers that are used for cryptocurrency mining though proprietary mining and hosting business models. SCI intends to continue to develop and build, modular data centers that use wasted renewable energy for cryptocurrency mining and in the future can be used for intensive, batchable computing 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; 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; text-align: justify; background-color: white"><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 cryptocurrency mining facilities that performs proprietary mining and data hosting services 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 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. In fiscal year 2021, SCI began mining operations in Murray, Kentucky, (“Project Sophie”) and Calvert City, Kentucky, (“Project Marie”). Project Marie had performed hosting services and proprietary mining in which 10 megawatts were used for hosting services and 10 megawatts was used for proprietary mining through the end of February 2023, at which time the facility had shut down. As of March 31, 2023, Project Sophie operated fully on proprietary mining with a capacity of 25 megawatts. On April 6, 2023, Project Sophie entered into a 25 MW hosting contract with a Bitcoin miner, in which will shift the Company’s business model at the Company’s modular data centers at Project Sophie from proprietary mining to hosting Bitcoin miners for the customer. The Company plans to sell its existing Bitcoin miners at the Project Sophie site and redeploy capital. 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, (“Project Edith”). Soluna has committed to providing certain facilities contracts at cost plus a markup to facilitate the continued operations for the sold mining assets, on behalf of the new ownership. 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, in which the Company has obtained approval from the Electric Reliability Council of Texas (“ERCOT”) and expects to begin energization in fiscal year 2023. The Company as of March 31, 2023, has a <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SolunaDVSLComputeCoLLCMember__srt--RangeAxis__srt--MinimumMember_z5is0YJi6WLf" title="Ownership percentage">15%</span> ownership interest in Soluna DVSL ComputeCo, LLC (“DVSL”) in which is included within the Project Dorothy site, as discussed further in Note 16.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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_908_ecustom--PercentageOfIssuedAndOutstandingCommonStock_dp_uPure_c20211216__20211217__srt--ConsolidatedEntitiesAxis__custom--MTIMember_zddRwNKNFlFb" 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, 2022, and prior periods included in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 31, 2023 (the “Annual Report”). 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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_90F_eus-gaap--ProceedsFromDivestitureOfBusinesses_pn5n6_c20220410__20220411__srt--ConsolidatedEntitiesAxis__custom--MTIMember_z1lfVqpG3BBi" title="Proceeds from sale of subsidiary">9.4</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_90E_eus-gaap--EquityMethodInvestmentQuotedMarketValue_iI_pn4n6_c20220411__srt--ConsolidatedEntitiesAxis__custom--MTIMember_zCHPljMuzD5e" title="Consideration paid by purchase">10.75</span> million. The Company recognized a gain on sale of approximately $<span id="xdx_908_eus-gaap--GainLossOnSaleOfBusiness_pn5n6_c20220410__20220411__srt--ConsolidatedEntitiesAxis__custom--MTIMember_zsdivR0YfIBg" title="Gain loss on disposition of business">7.8</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Going Concern and Liquidity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s condensed financial statements as of March 31, 2023 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 condensed financial statements, the Company did not generate sufficient revenue to generate net income and has negative working capital as of March 31, 2023. In addition, the Company has ceased operations for Project Marie in February 2023 due to the termination of the Management and Hosting Services agreement with CC Metals and Alloys, LLC (“CCMA”) and repossession of collateral for miners as discussed further below. 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 condensed unaudited financial statements as of March 31, 2023, or May 15, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soluna MC Borrowing 2021-1, <span style="background-color: white">received a Notice of Acceleration and Repossession (the “NYDIG Notice”) from NYDIG ABL LLC (“NYDIG”) with respect to the Master Equipment Finance Agreement, dated as of December 30, 2021 (the “MEFA”), by and between Borrower and NYDIG. </span>The NYDIG Notice states that (a) Borrower failed to observe or perform certain covenants, conditions or agreements contained in the MEFA and such failure continued unremedied for a period of ten days after Borrower’s knowledge of such breach, which resulted in an event of default under the MEFA, and (b) Borrower defaulted under the guaranty, collateral agreement, or other support agreement, which resulted in an event of default under the MEFA. In addition, the NYDIG Notice states that Borrower failed to pay certain payments of principal and interest under the MEFA when due, which failure also constituted an event of default under the MEFA. As a result of the foregoing events of default, and pursuant to the MEFA, NYDIG (x) declared the principal amount of all loans due and owing under the MEFA and all accompanying Loan Documents (as defined in the MEFA) to be due and immediately payable, (y) imposed a default rate of interest on any outstanding principal amount of each loan (together with all then unpaid interest accruing thereon) and all other obligations under the MEFA and the Loan Documents, and (z) demanded the return of all equipment subject to the MEFA and the Loan Documents. <span style="background-color: white">The obligations of Borrower under the MEFA and reflected in the NYDIG Notice were ring-fenced to Borrower and its direct parent company, Soluna MC LLC. On February 23, 2023, NYDIG proceeded to foreclose on all of the collateral securing the MEFA, which resulted in a reportable disposition of all of the Company’s mining assets at the site and certain of the operating assets of Project Marie. The total net book value of the collateralized assets that were repossessed totaled $<span id="xdx_90F_eus-gaap--ForeclosedAssets_iI_pn5n6_c20211231__us-gaap--TypeOfArrangementAxis__custom--MasterEquipmentFinanceAgreementMember_zk2Pwd7ySpSi" title="Value of collateralized assets repossessed">3.4</span> million. Additionally, NDYIG has stated its intention to pursue SCI, the parent company of Guarantor, under a piercing of the corporate veil claim relating to Defendants’ debts and liabilities under the loan documents. SCI denies any such liability and has filed a complaint for a declaratory judgment against NYDIG in the Eighth Judicial District Court in Clark County, Nevada on March 16, 2023, seeking a declaratory judgment as to such matter.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To further implement management’s strategy, in May 2022, SCI entered into a structural understanding with Soluna SLC Fund I Projects Holdco LLC (“Spring Lane”), a Delaware limited liability company, pursuant to which Spring Lane agreed to provide up to $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20220531__dei--LegalEntityAxis__custom--SpringLaneMember_zNJPkT1qPpe9" title="Maximum financing amount">35.0 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million in project financing subject to various milestones and conditions precedent and in August 2022, the Company entered into an agreement with Spring Lane for an initial funding of up to $<span id="xdx_90C_eus-gaap--ProceedsFromLinesOfCredit_pn5n6_c20220802__20220831__dei--LegalEntityAxis__custom--SpringLaneMember__srt--RangeAxis__srt--MaximumMember_zOZZxTEfwmc8" title="Initial funding amount">12.5 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million from the previously agreed-upon $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20220531__dei--LegalEntityAxis__custom--SpringLaneMember_zX5eNIaYemn5" title="Maximum financing amount">35.0</span> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million commitment from Spring Lane for Project Dorothy for a <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220831__dei--LegalEntityAxis__custom--SpringLaneMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ProjectDorothyMember_zmvWKnv3xyg9">32% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ownership as of year-end. As of December 31, 2022, the Company had received approximately $<span id="xdx_907_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20220101__20221231__dei--LegalEntityAxis__custom--SpringLaneMember_zvgyqkVbQAWh" title="Contribution received">4.8 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million worth of contributions from Spring Lane. In February and concluding on March 10, 2023, the Company entered into a series of Purchase and Sale Agreements with Spring Lane for a total purchase price of $<span id="xdx_909_eus-gaap--EquityMethodInvestmentQuotedMarketValue_iI_pn5n6_c20230310__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SpringLaneMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zbfmdRHsuBK8" title="Purchase price">7.5</span> million for the sale of Series B membership interests owned by SHI. The capital was funded and used to help complete the substation interconnection and the final stages of Project Dorothy, Soluna’s flagship project in West Texas, and corporate operations and general expenses of Soluna. In this series of transactions, Spring Lane increased its stake in Soluna DVSL ComputeCo from approximately <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220831__dei--LegalEntityAxis__custom--SpringLaneMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SolunaDVSLComputeCoLLCMember_zDguRgAqTucc">32</span>% to <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230331__dei--LegalEntityAxis__custom--SpringLaneMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SolunaDVSLComputeCoLLCMember_zeuwMVzBC4ib">85</span>% and reduced SHI’s ownership from <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220831__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SolunaDVSLComputeCoLLCMember_zezS9foObdfi">68</span>% to <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SolunaDVSLComputeCoLLCMember_zrI9Q2tPP4j6" title="Ownership percentage">15</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">In addition, on May 9, 2023, the Company’s indirect subsidiary Soluna DV ComputeCo, LLC (“DV”) completed a strategic partnership and financing with a special purpose vehicle, Navitas West Texas Investments SPV, LLC<b>, </b>(“Navitas”) organized by Navitas Global, to complete the second phase of the Dorothy Project (“Dorothy 1B”). Under a Contribution Agreement among the parties, the Company owned a substantially complete 25MW data center under construction, in which the Company had contributed capital expenditures for the data center. Navitas has initially contributed the initial installment of $<span id="xdx_90C_ecustom--InitialInstallmentPayment_pn5n6_c20230507__20230509__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z4OMmwOkgyye" title="Initial installment payment">4.5</span> million of a $<span id="xdx_900_eus-gaap--OtherCommitment_iI_pn5n6_c20230509__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zHd5nlX8Ch61" title="Cash commitment">10.8</span> cash commitment for the primary purpose of purchasing proprietary cryptocurrency miners and equipment necessary to put the Dorothy 1B Project into service. As a result of the initial contribution, the Company owns <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230509__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SolunaDVComputecoLLCMember_zEUyCl5CbXg6">73.5</span>% of DV and Navitas owns <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230509__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NavitasWestTexasInvestmentsSPVLLCMember_zkXnTEwSWwe6">26.5</span>% of DV. The Company expects Navitas to contribute the balance of the committed funds by the end of May 2023. <span id="xdx_900_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_pid_dp_uPure_c20230507__20230509__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionAxis__custom--NavitasWestTexasInvestmentsSPVLLCMember_zGw6zMCn01Of" title="Related party transaction, description">At the completion of funding, Navitas will have a 49% membership interest in DV, and the Company will have a 51% membership interest in DV</span>. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the first quarter of 2023, the Company has entered into six separate promissory notes for a total of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20230101__us-gaap--DebtInstrumentAxis__custom--SixSeparatePromissoryNotesMember_zrrhH2EvD1t8" title="Notes principal amount">900</span> thousand at an interest rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230101__us-gaap--DebtInstrumentAxis__custom--SixSeparatePromissoryNotesMember_zUpGnxBFFctk" title="Interest rate">15%</span>. In March 2023, we retired two of these promissory notes for a total of $<span id="xdx_900_eus-gaap--NotesReduction_pn3n3_c20230101__20230331_ze226EuzB0R7" title="Notes retired">300</span> thousand, and an additional $<span id="xdx_901_eus-gaap--NotesReduction_pn3n3_c20230401__20230430__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zI5QEeYtOqS7" title="Notes retired">325</span> thousand was retired in April of 2023 leaving $<span id="xdx_903_eus-gaap--NotesPayable_iI_pn3n3_c20230430__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zp8sMv6Wk06e" title="Notes payable">275</span> thousand still outstanding, using proceeds from a subsequent placement of the December 5<sup>th</sup> Securities Purchase Agreement Offering.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the first three months ended March 31, 2023, the Company has sold under-utilized miners and equipment, and continues to evaluate opportunities to sell more miners and equipment for fiscal year 2023. In addition to the proceeds from the foregoing transactions and together with the Company’s cash on hand for available use of approximately $<span id="xdx_904_eus-gaap--Cash_iI_pn5n6_c20230331_zF0nhBLFzZt" title="Cash in hand">4.6</span> million as of March 31, 2023, the Company will need additional capital raising activities, to meet its outstanding commitments relating to capital expenditures as of March 31, 2023 of $<span id="xdx_903_ecustom--WorkingCapital_iI_pn5n6_c20230331_zt3ICazZUaQd" title="Working capital">0.2</span> million and other operational needs, as well as additional needs during 2023 and management continues to evaluate different strategies to obtain financing to fund operations. However, 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; text-align: justify"><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; text-align: justify; text-indent: 0in"><span style="font: normal 10pt Times New Roman, Times, Serif">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 impacts to the Project Dorothy builds 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><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; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q1 | us-gaap |
Notes Reduction
NotesReduction
|
300000 | usd |
CY2023Q1 | us-gaap |
Cash
Cash
|
4600000 | usd |
CY2023Q1 | SLNH |
Working Capital
WorkingCapital
|
200000 | usd |
CY2023Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p id="xdx_846_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zdSMcBW6yqOc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_zVTjU6EQRKe">Reclassification</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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.</span></p> | |
CY2023Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
452000 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
320000 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
40490000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
44000000 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1682000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1496000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
38808000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
42504000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
632000 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
4300000 | usd |
CY2023Q1 | us-gaap |
Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
|
82000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
213000 | usd |
CY2022Q4 | us-gaap |
Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
|
295000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
36000 | usd |
CY2023Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
209000 | usd |
CY2021Q4 | us-gaap |
Termination Loans
TerminationLoans
|
1900000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
47517000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
13430000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
34087000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
47495000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
11063000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
36432000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
2400000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
2400000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
7113000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
9483000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
9483000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
7904000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
6000 | usd |
CY2023Q1 | SLNH |
Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
|
98000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
34087000 | usd |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0966 | pure |
CY2022Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-547000 | usd |
CY2022Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-547000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
31200000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
30700000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
10386000 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
12254000 | usd |
CY2023Q1 | SLNH |
Debt Instrument Discount From Issuance Of Warrants
DebtInstrumentDiscountFromIssuanceOfWarrants
|
116000 | usd |
CY2022Q4 | SLNH |
Debt Instrument Discount From Issuance Of Warrants
DebtInstrumentDiscountFromIssuanceOfWarrants
|
475000 | usd |
CY2022Q4 | us-gaap |
Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
|
42000 | usd |
CY2023Q1 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
10270000 | usd |
CY2022Q4 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
11737000 | usd |
CY2022Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
13.26 | |
CY2022Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
9.50 | |
CY2022Q3 | us-gaap |
Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
|
520241 | usd |
CY2022Q3 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
13006022 | usd |
CY2022Q3 | us-gaap |
Escrow Deposit
EscrowDeposit
|
1000000.0 | usd |
CY2022Q3 | us-gaap |
Deposit Liabilities Description
DepositLiabilitiesDescription
|
on or before October 17, 2022, the Company (i) must deposit $1,000,000 into escrow as the Third Deposit, (ii) will not be required to make the second deposit of $1,950,000 pursuant to the Addendum and the Addendum Agreement, or redeem the first tranche of October Secured Notes. Additionally, the First Reconcile Date was extended to October 12, 2022. The Company gave notice to the Noteholders on October 10, 2022 that the Company would be conducting an equity financing. This in turn paused the commencement of (a) the Second Conversion and the Second Reconcile Date, and (b) the Third Conversion and the Third Reconcile Date, in each case, for forty-five (45) Trading Days, each as defined in the Addendum. This also had the effect of pausing the Company’s requirement to make the Third Deposit of $1,000,000 under the October Purchase Agreement as amended by the Addendum, for 45 Trading Days. The 45-day trading window opened on December 20, 2022 to allow the Noteholders to apply the 20% discount to the 5-day VWAP of the Company’s stock. | |
CY2022Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P5Y | |
CY2022Q3 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
1100000 | usd |
CY2022Q3 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
293350 | shares |
CY2022Q3 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
3.75 | |
CY2022Q3 | us-gaap |
Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
|
12800000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
|
892000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
12300000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
13000000.0 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
1400000 | usd |
CY2023Q1 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
11600000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
10400000 | usd |
CY2023Q1 | SLNH |
Change In Warrant Exercise Price
ChangeInWarrantExercisePrice
|
370000 | usd |
CY2022Q4 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.18 | pure |
CY2023Q1 | us-gaap |
Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
|
617000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
|
April 25, 2023 thru January 25, 2027 | |
CY2023Q1 | us-gaap |
Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
|
12% thru 15 | |
CY2022Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
9.50 | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.76 | |
CY2023Q1 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.14 | pure |
CY2021Q3 | us-gaap |
Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
|
1000000.0 | usd |
CY2021Q3 | us-gaap |
Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
|
0.0075 | pure |
CY2023Q1 | us-gaap |
Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
|
0.085 | pure |
CY2022Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
1000000.0 | usd |
CY2023Q1 | us-gaap |
Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
|
865000 | usd |
CY2023Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
1000000.0 | usd |
CY2023Q1 | us-gaap |
Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
|
135000 | usd |
CY2023Q1 | us-gaap |
Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
|
135000 | usd |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Each share of the Company’s common stock is entitled to one vote on all matters submitted to stockholders. | |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
25414646 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
18694206 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1309789 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
1007992 | shares |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
12867338 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
2656448 | shares |
CY2023Q1 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
17841567 | shares |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
56000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
50000 | usd |
CY2023Q1 | us-gaap |
Lease Cost
LeaseCost
|
56000 | usd |
CY2022Q1 | us-gaap |
Lease Cost
LeaseCost
|
50000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y5M4D | |
CY2022Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y1M20D | |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0791 | pure |
CY2022Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0383 | pure |
CY2023Q1 | us-gaap |
Operating Lease Payments Use
OperatingLeasePaymentsUse
|
54000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Payments Use
OperatingLeasePaymentsUse
|
49000 | usd |
CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
397000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
181000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
242000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
79000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
29000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
29000 | usd |
CY2023Q1 | SLNH |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
145000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
705000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
121000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
584000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
205000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
379000 | usd |
CY2023Q1 | us-gaap |
Other Commitments Description
OtherCommitmentsDescription
|
The Company has a potential contingency associated with an agreement with Spring Lane of up to $250 thousand which would be reduced by a proportion of funding received from Spring Lane up to the $35.0 million aggregate contribution cap. The Company considers the probability of a payment for the contingency to be remote. | |
CY2023Q1 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
358000 | usd |
CY2023Q1 | SLNH |
Equity Method Investment Amount
EquityMethodInvestmentAmount
|
0 | usd |
CY2022Q1 | SLNH |
Equity Method Investment Amount
EquityMethodInvestmentAmount
|
0 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
|
0.0975 | pure |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
|
0.0975 | pure |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
The Third Amended and Restated 2021 Plan will, among other things, (a) increase the number of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis, to 18.75% of the shares of our Common Stock outstanding on the measurement date and (b) allow us to grant awards of shares of our 9.0% Series A Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (with and without restrictions). Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, the maximum aggregate number of shares of our Common Stock that may be issued under the Third Amended and Restated 2021 Plan (excluding the number of shares of our Common Stock subject to Specified Awards (as defined below)) (i) pursuant to the exercise of stock options, (ii) as unrestricted or restricted Common Stock, and (iii) in settlement of RSUs shall be limited to, beginning with the first quarter of our fiscal year ending December 31, 2023 (or January 1, 2023), 18.75% of the number of shares of our Common Stock outstanding as of the first trading day of each quarter. Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, the maximum aggregate number of shares of our Series A Preferred Stock that may be issued under the Third Amended and Restated 2021 Plan as unrestricted or restricted Series A Preferred Stock shall equal $3,600,000 valued as of the effective date of the Third Amended and Restated 2021 Plan as determined at the lower of the closing price of our Series A Preferred Stock on Nasdaq on such date or the average of the daily volume weighted average price of our Series A Preferred Stock on Nasdaq as reported by Bloomberg L.P. for a period of five (5) consecutive trading days ending on such date. Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, (i) shares of our Common Stock and Series A Preferred Stock, as applicable, subject to the Third Amended and Restated 2021 Plan shall include shares of our Common Stock and Series A Preferred Stock, as applicable, which revert back to the Third Amended and Restated 2021 Plan in a prior quarter or fiscal year, as applicable, pursuant to the paragraph below, and (ii) the number of shares of our Common Stock and Series A Preferred Stock, as applicable, that may be issued under the Third Amended and Restated 2021 Plan may never be less than the number of shares of our Common Stock and Series A Preferred Stock, as applicable, that are then outstanding under (or available to settle existing) 2021 Plan Award grants. For purposes of the Third Amended and Restated 2021 Plan, “Specified Awards” means (i) 2021 Plan Awards issued to Eligible Persons who are not employed or engaged by us or any of our subsidiaries as of the last day of any fiscal quarter, commencing with the fiscal quarter ending March 31, 2023, and (ii) 2021 Plan Awards that have a grant date at least three (3) years prior to the last day of any fiscal quarter, commencing with the fiscal quarter ending March 31, 2023. | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
10.38 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
306500 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Description And Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms
|
37% vests 12 months from the date of the grant, 33% vests 24 months from the date of the grant, and 30% vests 36 months from the date of the grant, in each case subject to the reporting person remaining in the service of the issuer on each such vesting date. | |
CY2022Q1 | us-gaap |
Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
|
1640000 | usd |
CY2022Q1 | us-gaap |
Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
|
561000 | usd |
CY2022Q1 | SLNH |
Disposal Group Including Discontinued Operation Research And Development
DisposalGroupIncludingDiscontinuedOperationResearchAndDevelopment
|
369000 | usd |
CY2022Q1 | us-gaap |
Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
|
484000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
226000 | usd |
CY2022Q2 | SLNH |
Instrument Purchase Price
InstrumentPurchasePrice
|
10750000 | usd |
CY2023Q1 | SLNH |
Gain With Sale Table Textblock
GainWithSaleTableTextblock
|
<p id="xdx_89C_ecustom--GainWithSaleTableTextblock_z21pR9rNAK62" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; 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; text-align: justify"><span id="xdx_8B4_zK8t2FvvLYl1" style="display: none">Schedule of Gain on Sale</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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_zossNYCs91n" 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_405_ecustom--ConsiderationReceivedFromSale_iI_pn3n3_maACRFSzNJH_z1rHHQMJoXP7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Consideration received</td><td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">10,750</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ClosingCash_iI_pn3n3_maACRFSzNJH_zJwtrObh7Zo9" 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_40A_ecustom--TransactionCosts_iI_pn3n3_maACRFSzNJH_z7iXIvZRyAXc" 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">(908</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--ClosingIndebtedness_iI_pn3n3_maACRFSzNJH_z2aDLaOzZOfa" 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_402_ecustom--NewWorkingCapitalAdjustments_iNI_pn3n3_di_msACRFSzNJH_zUf2xsZeUB11" 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">19</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AdjustmentConsiderationReceivedFromSale_iTI_pn3n3_mtACRFSzNJH_zNqDOguyUyv2" 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">9,379</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_404_eus-gaap--Cash_iI_pn3n3_maAzMmr_zyOgdjhJHgI5" 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_40F_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_maAzMmr_zZTDTWkH7gfd" 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_407_eus-gaap--InventoryNet_iI_pn3n3_maAzMmr_zhKSjjkW4BT1" 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_401_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_maAzMmr_zIXBmOmpS6z6" 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_402_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_maAzMmr_zILVQo5q2Kv3" 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_402_eus-gaap--DeferredIncomeTaxAssetsNet_iI_pn3n3_maAzMmr_zd0o4LiaDNPj" 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_40C_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_maAzMmr_zFHrReyUAAU2" 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_400_eus-gaap--Assets_iTI_pn3n3_mtAzMmr_zlcJ24XVqlkh" 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_402_eus-gaap--AccountsPayableCurrent_iI_pn3n3_maLz27L_zx5CpZrKE1Ke" 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_400_eus-gaap--AccruedLiabilitiesCurrent_iI_pn3n3_maLz27L_z6tHqK9yixBh" 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_409_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maLz27L_zJttke3j1Ekh" 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_403_eus-gaap--Liabilities_iTI_pn3n3_mtLz27L_z7ghwGjkMHDe" 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_40A_ecustom--NetAssetsTransferred_iI_pn3n3_z0EhEvTPVjo9" 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_40C_eus-gaap--DeferredGainOnSaleOfProperty_iI_pn3n3_zYVznsmR8Pjd" 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">7,751</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
|
-908000 | usd |
CY2022Q2 | SLNH |
Closing Indebtedness
ClosingIndebtedness
|
-483000 | usd |
CY2022Q2 | SLNH |
New Working Capital Adjustments
NewWorkingCapitalAdjustments
|
-19000 | usd |
CY2022Q2 | SLNH |
Adjustment Consideration Received From Sale
AdjustmentConsiderationReceivedFromSale
|
9379000 | 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 Income Tax Assets Net
DeferredIncomeTaxAssetsNet
|
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
|
7751000 | 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 December 31, 2022, Spring Lane contributed approximately $4.8 million. |