Soluna Holdings Inc (SLNH)

[Amigo Mike]

LOL,

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.

Just trying to make sure the record stays straight. And there's the matter of $16 million in convertible debt at 30 cents that's going to add a significant amount of dilution into the equation which will also have to be absorbed. I don't think the convertible will be fully converted but .... that remains to be seen.

Amigo Mike