Ault Alliance Files Q2 2024 10-Q

TL;DR

Ault Alliance (formerly BitNile) dropped its Q2 2024 10-Q, showing stock and preferred stock details.

AI Summary

Ault Alliance, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as BitNile Holdings, Inc., reported on its financial status, including details on its common stock and various series of preferred stock (Series A, C, and D). The filing covers the fiscal period from January 1, 2024, to June 30, 2024.

Why It Matters

This filing provides investors with an update on Ault Alliance's financial health and capital structure as of mid-2024, including details on their equity.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company has a history of name changes and complex financial structures, which can indicate underlying risks.

Key Numbers

• 0.001 — Par Value (Par value for common stock and Series D preferred stock.)
• 20240630 — Reporting Period End Date (The 10-Q covers financial data up to this date.)
• 20240101 — Reporting Period Start Date (The 10-Q covers financial data from this date.)

Key Players & Entities

• Ault Alliance, Inc. (company) — Filer of the 10-Q
• BitNile Holdings, Inc. (company) — Former name of Ault Alliance, Inc.
• June 30, 2024 (date) — End of the reporting period
• January 1, 2024 (date) — Beginning of the reporting period

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 par value AULT NYSE American 13.0
• $0.71 — 7,000 ) Series A preferred dividends ($0.71 per share) - - - - - - - - -
• $23.63 — 5,000 ) Series C preferred dividends ($23.63 per share) - - - - - - - - -
• $0.81 — 0,000 ) Series D preferred dividends ($0.81 per share) - - - - - - - - -
• $0.63 — 3,000 ) Series A preferred dividends ($0.63 per share) - - - - - - - - -
• $88.07 — t Alliance Class A common stockholders ($88.07 per share) - - - - - - - - ( 5
• $1.28 — 0,000 ) Series A preferred dividends ($1.28 per share) - - - - - - - - -
• $47.17 — 9,000 ) Series C preferred dividends ($47.17 per share) - - - - - - - - -
• $1.62 — 2,000 ) Series D preferred dividends ($1.62 per share) - - - - - - - - -
• $2.02 — Alliance Class A common stockholders ($2.02 per share) - - - - - - - - ( 4
• $1.25 — 9,000 ) Series A preferred dividends ($1.25 per share) - - - - - - - - -

Filing Documents

• aa81224310q.htm (10-Q) — 3281KB
• ex31_1.htm (EX-31.1) — 8KB
• ex31_2.htm (EX-31.2) — 8KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001214659-24-014883.txt ( ) — 14493KB
• ault-20240630.xsd (EX-101.SCH) — 103KB
• ault-20240630_cal.xml (EX-101.CAL) — 94KB
• ault-20240630_def.xml (EX-101.DEF) — 322KB
• ault-20240630_lab.xml (EX-101.LAB) — 489KB
• ault-20240630_pre.xml (EX-101.PRE) — 433KB
• aa81224310q_htm.xml (XML) — 3754KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 F-1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 F-3 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 F-4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 F-8 Notes to Condensed Consolidated Financial Statements F-9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 1 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 13 Item 4.

Controls and Procedures

Controls and Procedures 13

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking "goals," "plans," "believes," "seeks," "estimates," "continues," "may," "will," "would," "should," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, uncertain events or assumptions, and other characterizations of future events or circumstances are forward-looking statements. Such statements are based on management's expectations as of the date of this filing and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include those described throughout this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K for the year ended December 31, 2023, particularly the "Risk Factors" sections of such reports. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements in this Quarterly Report on Form 10-Q do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that had not been completed as of the date of filing of this Quarterly Report on Form 10-Q. In addition, the forward-looking statements in this Quarterly Report on Form 10-Q are made as of the date of this filing, and we do not undertake, and expressly disclaim any duty to update such statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law.

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. AULT ALLIANCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 9,551,000 $ 9,706,000 Restricted cash 7,264,000 5,663,000 Marketable equity securities 33,000 27,000 Accounts receivable, net 13,205,000 11,086,000 Inventories 7,499,000 8,434,000 Investment in promissory notes and other, related party - 3,968,000 Loans receivable, current 1,362,000 1,234,000 Prepaid expenses and other current assets 8,292,000 9,725,000 TOTAL CURRENT ASSETS 47,206,000 49,843,000 Cash and marketable securities held in trust account 794,000 2,200,000 Intangible assets, net 5,324,000 5,754,000 Goodwill 5,916,000 6,088,000 Property and equipment, net 180,766,000 197,354,000 Right-of-use assets 6,794,000 6,432,000 Investments in common stock and equity securities, related party 2,404,000 679,000 Investments in other equity securities 13,812,000 21,767,000 Other assets 7,763,000 9,073,000 TOTAL ASSETS $ 270,779,000 $ 299,190,000 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 68,794,000 $ 69,425,000 Operating lease liability, current 2,371,000 2,140,000 Notes payable, current 89,654,000 12,866,000 Notes payable, related party, current 283,000 2,375,000 Convertible notes payable, current 9,606,000 11,763,000 Guarantee liability 38,900,000 38,900,000 TOTAL CURRENT LIABILITIES 209,608,000 137,469,000 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. F-1 AULT ALLIANCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (continued) (Unaudited) June 30, December 31, 2024 2023 LONG TERM LIABILITIES Operating lease liability, non-current 4,743,000 4,498,000 Notes payable, non-current 16,448,000 85,420,000 Conver

View Full Filing

View this 10-Q filing on SEC EDGAR