Ault Alliance, Inc. has filed a notification of late filing with the SEC for its Form 10-K, which was due for the period ended December 31, 2023. The company cited the compilation, dissemination, and review of required information as causing undue hardship and expense, making timely filing impracticable. Ault Alliance reported a revenue increase of 31% to approximately $155 million for 2023, up from $118 million in 2022. However, the company also reported a loss from continuing operations of approximately $142 million in 2023, a slight increase from the $139 million loss in 2022. The revenue included negative revenue from lending and trading activities and contributions from its consolidated variable interest entity, The Singing Machine Company, Inc., and its majority-owned subsidiary, Circle 8 Crane Services, LLC. The company also saw a...Show More

Ault Alliance, Inc. has filed a notification of late filing with the SEC for its Form 10-K, which was due for the period ended December 31, 2023. The company cited the compilation, dissemination, and review of required information as causing undue hardship and expense, making timely filing impracticable. Ault Alliance reported a revenue increase of 31% to approximately $155 million for 2023, up from $118 million in 2022. However, the company also reported a loss from continuing operations of approximately $142 million in 2023, a slight increase from the $139 million loss in 2022. The revenue included negative revenue from lending and trading activities and contributions from its consolidated variable interest entity, The Singing Machine Company, Inc., and its majority-owned subsidiary, Circle 8 Crane Services, LLC. The company also saw a 25% increase in revenue from its defense segment and an increase from its digital currencies mining operations. Operating expenses decreased overall, but when excluding impairment charges, they increased due to higher selling and marketing costs, research and development expenses, and general and administrative expenses. The estimated net loss available to common stockholders was approximately $192 million for 2023, compared to $182 million in 2022. The late filing notification was signed by Chief Financial Officer Kenneth S. Cragun on April 1, 2024.