Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company ("Ault Alliance," or the "Company"), today
shared a letter from its Executive Chairman to its
stockholders.
Dear Stockholders,
As we begin the final quarter of 2023, we would like to take a
moment to reflect, acknowledge, and share some proactive
communication with you. Our journey, from the very first day to
where we stand today, symbolizes relentless determination,
foresight, and an unwavering commitment. Every milestone achieved
and every hurdle crossed is a story of our collective endeavor.
However, there is an urgent matter we wish to address. We have
observed our declining stock price and do not believe that it truly
reflects the intrinsic value and potential of Ault Alliance. Such a
divergence between our operational performance and stock valuation
stems from various market perceptions and factors beyond our
control.
But let me be clear: Our strategic decisions, current business
models, and future growth prospects are solidly in place. These
fundamentals should drive our valuation. The substantial support we
have received from Ault & Company, Inc., a related party, as
evidenced by the recently announced advancement and assumption of
$17.5 million towards the previously announced agreement to fund up
to $40 million into the Company, underscores the belief in our
potential.
Let’s look at some tangible achievements. Our diversified
portfolio is not just broad but deep, aimed at sectors with
tremendous growth opportunities. This includes our involvement in
current technologies, like data centers, and forward-looking
sectors like Bitcoin mining and lending. We have made significant
investments in companies like Eco Pack Technologies Ltd. and
Sentinum, Inc., which reflect our conviction in industries that are
defining the future and we anticipate are strategically positioned
for substantial growth. We are also extremely pleased with the
operations of Circle 8 Crane Services, LLC as management at this
subsidiary continues to generate growth and hit their internal
goals. The projected sale of both our Midwest hotel portfolio and
the St. Petersburg development site will allow the company to
significantly reduce its debt load and streamline capital
allocation going forward.
Consider our history, in which we had a modest sales figure of
under $8 million in 2016, and we are now projecting revenue beyond
$200 million in 2023. And based on our current plans and
trajectory, we expect this figure to see further growth over the
next three years. This is more than just growth; it is a validation
of our strategic foresight, the team’s commitment, and operational
excellence.
There is a significant gap between the Company’s true value and
its current market representation. We continue to execute our
business plan. We have made significant steps forward, and believe
the best is yet to come. Your belief fuels our ambition, and we
pledge to continuously strive for realizing the true value of your
investment.
In these dynamic times, while we navigate challenges and seize
opportunities, your trust is our beacon. Together, let us look
ahead to a future that truly reflects the strength, potential and
value of Ault Alliance.
With sincere appreciation,
Milton "Todd" Ault, III Executive Chairman Ault Alliance,
Inc.
P.S.: A reminder that Ault Alliance's revenue projections can
experience variability due to factors such as Bitcoin market price
fluctuations and mining challenges. Our trading activities,
encompassing both realized and unrealized gains or losses, can
cause notable volatility in our reported 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
www.Ault.com or at 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 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 www.sec.gov and on the Company’s
website at www.ault.com/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231004990007/en/
Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
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