(Dollars in thousands, except shares)

2024

2023

Numerator:

Net loss from continuing operations

$

(2,544

)

$

(7,432

)

(Less) Net income (loss) attributable to non-controlling interest

2,710

(370

)

Net loss attributable to Soluna Holdings, Inc.

$

(5,254

)

$

(7,062

)

Less: Preferred dividends or deemed dividends

(386

)

(131

)

Less: Cumulative Preferred Dividends in arrears

(1,722

)

(1,722

)

Balance

$

(7,362

)

$

(8,915

)

Denominator:

Basic and Diluted EPS:

Common shares outstanding, beginning of period, including penny warrants

2,592,454

747,847

Weighted average common shares issued during the period including penny warrants issued and outstanding as of quarter-end

215,101

116,167

Denominator for basic earnings per common shares —

Weighted average common shares

2,807,555

864,922