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10-K/A: Annual report (Amendment)

SEC ·  Sep 25, 2024 04:36

Summary by Moomoo AI

Ault Alliance reported total revenue of $156.4M for FY2023, up from $117.6M in 2022, driven by digital currency mining revenue of $33.1M and crane operations revenue of $49.2M. However, the company recorded a significant net loss of $256.3M compared to $189.8M in 2022, impacted by impairment charges and operating expenses.The company faced substantial challenges, including $47.6M in goodwill and intangible assets impairment, $18.2M in property and equipment impairment, and a $35.4M guarantee expense. Operating expenses increased to $153.7M from $139.5M in 2022. The company's working capital showed a deficit of $66.3M, raising substantial doubt about its ability to continue as a going concern.Management is pursuing various funding options, including private and public sales of equity securities and selling marketable securities. The company completed several strategic transactions in 2023, including the sale of 41,500 shares of Series C Preferred Stock to Ault & Company for $41.5M and entered into a significant loan agreement with institutional lenders requiring various guarantees and collateral arrangements.
Ault Alliance reported total revenue of $156.4M for FY2023, up from $117.6M in 2022, driven by digital currency mining revenue of $33.1M and crane operations revenue of $49.2M. However, the company recorded a significant net loss of $256.3M compared to $189.8M in 2022, impacted by impairment charges and operating expenses.The company faced substantial challenges, including $47.6M in goodwill and intangible assets impairment, $18.2M in property and equipment impairment, and a $35.4M guarantee expense. Operating expenses increased to $153.7M from $139.5M in 2022. The company's working capital showed a deficit of $66.3M, raising substantial doubt about its ability to continue as a going concern.Management is pursuing various funding options, including private and public sales of equity securities and selling marketable securities. The company completed several strategic transactions in 2023, including the sale of 41,500 shares of Series C Preferred Stock to Ault & Company for $41.5M and entered into a significant loan agreement with institutional lenders requiring various guarantees and collateral arrangements.
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