Ault Alliance Issues Letter to Stockholders
September 20 2023 - 5:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance” or the “Company”), today provides a
business update letter to its stockholders.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230920746013/en/
(Graphic: Business Wire)
Dear Stockholders,
We are pleased to provide you with a business update as we
approach the end of the third quarter of 2023. Our commitment to
transparency and effective communication drives us to share clear
and concise information about our financial status and strategic
holdings.
As of September 19, 2023, Ault Alliance had approximately 8.9
million shares of common stock issued and outstanding. As of June
30, 2023, we reported total assets of approximately $378 million
and total liabilities of $255 million, for stockholder equity of
approximately $122 million. Assuming our balance sheet as of
September 19, 2023 were identical to what we reported as of June
30, 2023, the book value of our shares would be approximately $11
per share.
Looking ahead, we reaffirm our projected robust financial
growth, with an anticipated $200 million in annual revenue for the
year ending December 31, 2023. These positive projections are a
testament to the strength of our business model and our commitment
to create value for our stockholders.
“We are confident in achieving revenue growth for 2023 and
beyond. While we are not presently forecasting for 2024, our
financial strategy remains rooted in sustainable cash flow and
progressing towards profitability,” remarked Milton “Todd” Ault
III, Executive Chairman of Ault Alliance. He added, “We will soon
unveil adjustments to our corporate structure to optimize the
Company’s growth and streamline how we depict our assets. The
planned divestment of our hotel properties and St. Petersburg real
estate assets aims to bolster our financial standing
substantially.”
Ault Alliance is a diversified company with numerous
subsidiaries and holdings in both public and private companies.
Notably, we have strategic investments in innovative biotechnology
companies Alzamend Neuro, Inc. and AdTech Pharma, Inc. These are
just a few of the significant investments that help position Ault
Alliance as a diversified holding company.
Our corporate structure is as presented herein.
We thank you for your continued support and your interest in
Ault Alliance Inc. We look forward to delivering another strong
year and will continue to keep our valued stockholders updated on
our progress.
Ault Alliance notes that revenue estimates and other projections
are subject to volatility in Bitcoin market price, the fluctuation
in the mining difficulty level and other factors that may impact
the results of Bitcoin mining production or operations. Revenues
from Ault Alliance trading activities include unrealized gains and
losses from market price changes, which can cause significant
volatility in the Company’s periodic earnings.
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
https://www.Ault.com/ or available at https://www.sec.gov/.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and offers colocation and hosting services for the emerging
artificial intelligence ecosystems and other industries, and
provides mission-critical products that support a diverse range of
industries, including a metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through its licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.Ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10‑Q and
8-K. All filings are available at https://www.sec.gov/ and on the
Company’s website at https://www.Ault.com/.
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