Ault Alliance, Inc. has filed a notification of late filing for its Form 10-Q, which was due for the fiscal quarter ended June 30, 2024. The company cited the impracticality of timely filing due to the undue hardship and expense involved in compiling, disseminating, and reviewing the required information. Ault Alliance has indicated that the report will be filed within the five-day extension period provided by Rule 12b-25(b). In the interim financial data provided, Ault Alliance reported a slight revenue increase to $80 million for the first half of 2024, up 1% from the previous year. The company also saw a significant reduction in its loss from continuing operations, which was $22 million for the six months ended June 30, 2024, compared to a loss of $82 million...Show More

Ault Alliance, Inc. has filed a notification of late filing for its Form 10-Q, which was due for the fiscal quarter ended June 30, 2024. The company cited the impracticality of timely filing due to the undue hardship and expense involved in compiling, disseminating, and reviewing the required information. Ault Alliance has indicated that the report will be filed within the five-day extension period provided by Rule 12b-25(b). In the interim financial data provided, Ault Alliance reported a slight revenue increase to $80 million for the first half of 2024, up 1% from the previous year. The company also saw a significant reduction in its loss from continuing operations, which was $22 million for the six months ended June 30, 2024, compared to a loss of $82 million for the same period in 2023. The improvement was partly attributed to a $4 million increase in digital assets mining operations and a $3 million increase in defense segment revenue. However, revenue from lending and trading activities decreased by $2 million. The company's subsidiary, Circle 8 Crane Services, maintained a steady revenue of $25 million, while The Singing Machine Company was deconsolidated in November 2023. Operating expenses for Ault Alliance decreased by $57 million, with significant reductions in selling and marketing, research and development, and general and administrative expenses. The net loss available to common stockholders also improved, standing at $22 million for the first half of 2024, a substantial decrease from the $110 million loss in the previous year. The notification was signed by Chief Financial Officer Kenneth S. Cragun on August 14, 2024.