But Yesterday's 8K is another example this mgmt continues to destroy the capital structure of the company. Millions and millions of shares and warrants .. some at below market prices ..... for Pref B divs and $855K in funding which more or less is almost a net zero .... for over 10 million shares and warrants combined. Totally ridiculous.
Do you like the new ceo.
I clarify my words next time since if you watch the video I posted it cleary doesn't say they have 700 MW running.
Your the pro GL
He's been there the while time. He's not new.
Just a shuffle of offices . Just got rid of Toporek as CEO who drove this into the ground but who is still chairman unfortunately.
SLNH did not go from 160 to 700 in a month.
The pipeline.. so we are.clear went FROM 2GW to now talking about 700 MW .... of which 160 MW is part of the 700MW. The 160 mw is project Kati. And NONE OF IT IS NEW. THESE.PROJECTS HAVE BEEN ON THEIR WEBSITE AND SEC filings for 2 years.
I like the business model but don't post false info. This company has alot to fix. SLNH hasn't expanded anywhere. They MW today is less than it was a year ago.. FACT. The only thing different is they are hosting other companies for BTC mining.
I,ll give the new ceo a chance.
Who knows what happens.
Why we play the game
Especially at .30 cents
Seems like a lot of people are interested if they went from 160 to 700 in a month
How that gets completed is anyone's guess.
That's up to the company not me.
If they can't get it done or financed then yea.
Guess we will have to wait and see what the company does.
Still like the new business model.
Wasn't it just bit farming in the past.
Seems to me they have expanded into other areas then just bit farming.
Their business model is what got them in trouble in the first place .... with BTC tanking.
Today's business model isn't much different than the original.
But you posted with the video that are up to 700MW. By itself. That is false. 700MW is a pipeline of projects. 160 MW is one of the component of the 700MW pipeline.
Today ... SLNH is running roughly 55MW. 25MW is totally hosted clients at Project Sophie and isn't going to produce alot of revenue. Just watch the videos on earnings potential per project.
Dorothy 1A is 25MW up and running but IS 85% OWNED BY Spring Lane Capital ... only 15% SLNH. They get all the money. Dorothy 1B was partnered with Navitas for prop mining. I believe is 50/50 if I'm not mistaken that is due to be up and running with 25MW this month.
The CEO is his interviews is NOT LYING. Never said he was. But he touts SITE LEVEL FINANCIALS. Not corporate financials to shareholders.
Example with fictitious numbers.
CEO would say something like Dorothy 1A to produce $10 million in revenues, EBITDA $4 million ..... problem is .... 85% of that goes to Spring Lane Capital which CEO doesn't highlight.
Been following this company for years. They like to play games with the numbers provided so you need to listen very carefully and understand the number being provided.
Fact is ... CEO's own presentation.... slide 20. SLNH EBITDA is projected at $1.1 million for the entire FY2024. It is $10.7 million with Dorothy 2 online. This company needs far more scale and MW producing and Dorothy 2 is part of the key to it for which the company has no money and not announced how it's going to get built even though it is characterized as shovel ready and is already approved by ERCOT.
I like their new business model
Let's see if some investors do.
I posting stuff from what the company was and listening to the new videos of the ceo on what the company is at today.
So your saying the new video I posted from today. The ceo is lying.
Don't understand what the problem is. Company was trash.
Looks like they are turning it around
Why the stock price is .30 cents.
From what I get
They have till December to turn this company around to stay compliant
Yes they will have to RS.
5 months is a long time and maybe they can pull something off.
Unless the ceo is lying
Sounds like they are headed in a better direction.
So ... why are you posting a video about FY>>>2022<<< earnings ?
Those are long past. And not relevant to now. The company since those earnings shut down a data center due to being foreclosed on. And completely changed its operating model.
The next earnings report is the F2QFY2023 and they will be atrocious like I said.
Certainly not about what I think ..... but stick to facts.
And earnings to be posted shortly will be atrocious. Count on it. Lotta noise about reducing expenses and EBITDA. This company has a deep hole to climb out of.
Great I followed nkla for 3 years and bought 2 months ago at .57 cents
That's why they have earnings in 2 weeks. Kinda doesn't matter what you think.
It s what the market thinks. So don't know what to tell you chief.
I've been following this stock for years and know it VERY well. 700MW is a pipeline of projects that have been in discussion for YEARS. The pipeline has been as high as 2GW. If you'd like me to provide links to prove I'd be happy too.
Last video ... LOL ... talks about next Project Kati .... that is 166MW project in Texas that they hope is next project after Dorothy. Which is part of the 700MW pipeline which again has existed for YEARS. These clowns don't have the money. And bad financing on Dorothy is going to dilute this stock significantly. That is why it is in the toilet. And BTW ... the fireside chat stuff IS PAID FOR PROMOS BY SLNH.
The story is great. Mgmt execution and delivery is not.
Trying to build out. Meaning they are in discussions on TRYING to get funding to build out up to 700 mega watts. Their last video months ago they only had 160 megga watt. Why I posted the videos so people can watch them. ILL post the video of them saying they will be profitable in second half of this year. They have other videos from 2 weeks ago talking about your concerns. I'll post that 2
This company is at 50MW in production ... and on it's way to 75MW this month. It is NOT 700MW. Factually incorrect.
They have a PIPELINE and several hundred MW of projects that may or may not ever come to exist.
And the Preferred Stock isn't getting dividends paid any year soon. No money through 2024 to pay them plus ... to pay them ... they need to pay all in arrears ...... which equates to about $500K+ per month or $6+ million a year. AIN"T GONNA HAPPEN in lieu of need to build out new projects as the arrears is already roughly $6 million about now.
Nice pumping though.
Wait til convertible debt starts getting dumped on the market. $16 million convertible at 30 cents.
Put that in your calculator. I don't think that all will be converted but this company will encounter significant dillution below $1.
BTW ... I do think there is promise here, but mgmt is not above board with the numbers they present to shareholders and potential investors which is problem and leads to misunderstanding the current potential here.
Was small stair stepping for a couple weeks
Now looks like volume is picking up.
Should be a good week.
A miner host? If so that seems like a worse model to me. If the industry gets in trouble they lose customers or have customers who can’t pay. If it rockets up they don’t get any more money. IMO they fully participate in the downside, but not the upside. I liked their cheap batch compute idea better.
SLNH is no longer a BTC miner. See the recent news.
Looks like SLNH getting a bit more serious about it's financial structure and looking for more and better project financing. With 2GW backlog of projects, needs to get down to business for sure to get about the business of growing the company.
Soluna Appoints Phil Patman Jr. from Ameresco as Chief Financial Officer
August 03 2022 - 08:00AM
via NewMediaWire -- Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, has announced the appointment of Phil Patman Jr. as Chief Financial Officer (CFO). As CFO, Patman will spearhead finance and accounting with a specific focus on capital markets and acquisitions for Soluna and its growing pipeline of green data centers co-located with renewable power plants.
Patman brings more than 25 years of experience in finance operations and capital formation for companies engaged in global energy markets. Most recently, Patman served as Vice President and Head of Renewable Fuels M&A and Strategy at Ameresco.
“We are thrilled to bring Phil on as we further build out our leadership team to support our rapid growth,” said Michael Toporek, CEO of Soluna Holdings. “Phil’s decades of experience in global energy markets will accelerate the build out of our robust pipeline as we offer an immediately deployable solution to renewable energy’s biggest problem, wasted energy.”
Patman’s hire follows Soluna’s recent $35 million funding deal with Spring Lane Capital and an engagement with Truist Securities to assist with upcoming green data center project financing.
John Belizaire, CEO of Soluna Computing, commented, “With Phil’s experience across a broad spectrum of disciplines, I’m excited to partner with him to continue our momentum to raise financing for our growing pipeline.”
Patman has held multiple leadership roles in energy investment and financing, including with Ameresco, Inc., Huron Consulting Group, Inc., VAALCO Energy, Inc., Thailand's PTT Exploration and Production Public Company, Limited, AES Corporation, Franklin Templeton Investments, Globeleq Limited, Marathon Oil Corporation and Enron Corp. He holds a law degree from the University of Houston Law Center and he earned a bachelor’s degree from the University of Texas at Austin through its Plan II Honors Program.
Commenting on his appointment, Patman said, “I’m excited to join Soluna’s team in helping to make renewable electricity generation more efficient, and I share its principles of high-quality project execution and capital discipline.”
Patman begins on August 16th and will report to Michael Toporek, CEO of Soluna Holdings, replacing Jessica Thomas as Chief Financial Officer. Thomas will remain an employee of the company during the transition period.
“Jessica and I worked closely to build out the company and transition its focus from a legacy instruments business to a pure-play renewable computing™ company. The entire Soluna team including our board is grateful to Jessica for her commitment and hard work at MTI and Soluna,” said Michael Toporek, CEO of Soluna Holdings.