Summary:

Ault Alliance, a diversified holding company, has released its financial results for the third quarter of 2023 and announced a strategic shift in its capital raising plans. The company will focus on its core subsidiaries, Circle 8 Crane Services, Sentinum, and Ault Venture Group. It plans to sell key properties owned by Ault Global Real Estate Equities to streamline its holdings and reduce debt. The company reported total assets of $378 million, revenue growth of 38%, and a book value of $7.23 per share for the nine months ended September 30, 2023.

Introduction:

Ault Alliance, a diversified holding company, has announced its financial results for the third quarter of 2023 and a strategic shift in its capital raising plans. The company will focus on its core subsidiaries and sell key properties to streamline its holdings and reduce debt. The company reported positive financial highlights for the nine months ended September 30, 2023.

Main Points:

– Ault Alliance will focus on its three core subsidiaries: Circle 8 Crane Services, Sentinum, and Ault Venture Group.
– The company plans to sell key properties owned by Ault Global Real Estate Equities to streamline its holdings and reduce debt.
– The company reported total assets of $378 million and a book value of $7.23 per share.
– Revenue growth for the nine months ended September 30, 2023, was 38%.
– Sentinum’s Bitcoin mining operations generated revenue of $23 million, up 104% from the prior fiscal period.
– Circle 8, acquired in December 2022, generated revenue of $39 million for the nine months ended September 30, 2023.

Conclusion:

Ault Alliance has announced its financial results for the third quarter of 2023 and a strategic shift in its capital raising plans. The company will focus on its core subsidiaries and sell key properties to streamline its holdings and reduce debt. The company reported positive financial highlights, including total assets of $378 million and a book value of $7.23 per share. Revenue growth for the nine months ended September 30, 2023, was 38%. Ault Alliance remains committed to enhancing stockholder value and positioning the business for sustainable profitability and long-term growth.