Ault Alliance Issues Letter to Stockholders
July 12 2023 - 6:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company, (“Ault Alliance” or the “Company”), today provides a
business update letter to stockholders.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230712083657/en/
Ault Alliance, Inc. Organization Chart
@07/11/2023 All copyrights reserved @2023 Any replication or use of
this document must be authorized in writing by Ault Alliance, Inc.
prior to publication. (Graphic: Business Wire)
Dear Stockholders,
We are pleased to provide you with a business update as we enter
the third quarter of 2023. Our commitment to transparency and
effective communication drives us to share clear and concise
information about our company’s financial status and strategic
holdings.
As of July 11, 2023, Ault Alliance had approximately 2.1 million
shares of common stock outstanding. Based on our balance sheet as
of March 31, 2023, the book value of our shares stands at
approximately $80 per share. In addition, on March 31, 2023 we
reported total assets of $527 million.
Looking ahead, we project robust financial growth with an
anticipated $200 million in annual revenue for the year 2023. These
positive projections are a testament to the strength of our
business model and our commitment to create value for our
stockholders.
We also want to provide an update on our portfolio of holdings.
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 currently as presented in the
organization chart.
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 provides mission-critical products that support a diverse range
of industries, including 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 a 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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