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Ault Alliance, Inc. (NYSE American: AULT) has ceased the marketing process for its four hotels owned by its subsidiary AGREE, with assets worth $91.0 million and liabilities of $70.4 million. The properties will no longer be considered for sale, and their values will be reclassified in the balance sheet. The Company's Executive Chairman, Milton “Todd” Ault, III, expressed confidence in the long-term value of the assets despite the decision. Investors can access more information through Ault Alliance's public filings and press releases on their website or the SEC's site.
Ault Alliance, Inc. (NYSE American: AULT) ha interrotto il processo di commercializzazione per i suoi quattro hotel posseduti dalla filiale AGREE, con attivi per un valore di 91,0 milioni di dollari e passività di 70,4 milioni di dollari. Le proprietà non saranno più considerate per la vendita e i loro valori verranno riclassificati nel bilancio. Il Presidente Esecutivo della compagnia, Milton “Todd” Ault III, ha espresso fiducia nel valore a lungo termine degli asset nonostante la decisione. Gli investitori possono trovare maggiori informazioni consultando i documenti pubblici e i comunicati stampa di Ault Alliance sul loro sito web o sul sito della SEC.
Ault Alliance, Inc. (NYSE American: AULT) ha cesado el proceso de comercialización para sus cuatro hoteles propiedad de su filial AGREE, con activos valorados en 91,0 millones de dólares y pasivos de 70,4 millones de dólares. Las propiedades ya no serán consideradas para la venta y sus valores serán reclasificados en el balance general. El presidente ejecutivo de la compañía, Milton “Todd” Ault, III, ha expresado su confianza en el valor a largo plazo de los activos a pesar de la decisión. Los inversores pueden acceder a más información a través de los archivos públicos y comunicados de prensa de Ault Alliance en su sitio web o en el sitio de la SEC.
Ault Alliance, Inc.(NYSE American: AULT)는 자회사 AGREE가 소유한 네 개의 호텔에 대한 마케팅 과정을 중단했습니다. 이 호텔들의 자산 가치는 9,100만 달러이고 부채는 7,040만 달러입니다. 이 부동산들은 더 이상 판매 대상으로 고려되지 않으며 그 가치는 대차대조표에서 재분류될 것입니다. 회사의 이사회 의장인 밀턴 “토드” Ault 3세는 결정에도 불구하고 자산의 장기적 가치에 대한 자신감을 표명했습니다. 투자자들은 Ault Alliance의 공개 문서 및 보도 자료를 그들의 웹사이트나 SEC의 사이트에서 확인할 수 있습니다.
Ault Alliance, Inc. (NYSE American: AULT) a arrêté le processus de commercialisation pour ses quatre hôtels détenus par sa filiale AGREE, avec des actifs évalués à 91,0 millions de dollars et des passifs de 70,4 millions de dollars. Ces propriétés ne seront plus considérées pour la vente et leurs valeurs seront reclassifiées dans le bilan. Le Président-Directeur Général de la société, Milton “Todd” Ault III, a exprimé sa confiance dans la valeur à long terme des actifs malgré la décision. Les investisseurs peuvent obtenir plus d'informations via les dépôts publics et les communiqués de presse d'Ault Alliance sur leur site web ou sur le site de la SEC.
Ault Alliance, Inc. (NYSE American: AULT) hat den Vermarktungsprozess für seine vier Hotels, die im Besitz seiner Tochtergesellschaft AGREE sind, mit Vermögenswerten im Wert von 91,0 Millionen Dollar und Verbindlichkeiten von 70,4 Millionen Dollar, eingestellt. Die Immobilien werden nicht mehr zum Verkauf stehen und ihre Werte werden in der Bilanz neu klassifiziert. Der Executive Chairman des Unternehmens, Milton “Todd” Ault III, zeigte sich trotz der Entscheidung zuversichtlich bezüglich des langfristigen Werts der Vermögenswerte. Investoren können weitere Informationen über die öffentlichen Einreichungen und Pressemitteilungen von Ault Alliance auf deren Website oder auf der SEC-Website einsehen.
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LAS VEGAS--(BUSINESS WIRE)--
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced that it has ended the marketing process for its four hotels owned and operated by its wholly owned subsidiary, Ault Global Real Estate Equities, Inc. (“AGREE”). As a result, it was determined that the AGREE assets and liabilities previously presented as assets and liabilities held for sale within the Company’s balance sheet will no longer meet the held for sale criteria. Assets of $91.0 million and liabilities of $70.4 million as of December 31, 2023 were reported as assets and liabilities held for sale. In future periods, assets and liabilities of AGREE will be reclassified to assets and liabilities held and used and amounts previously presented in discontinued operations will be reclassified into continuing operations for all periods presented.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “The timing was not optimal for the sale of our hotel properties which included $16.5 million in revenue for fiscal year 2023 and approximately $91 million in assets as of December 31, 2023. Going forward, we have a strong belief in the long-term value of the properties and the real estate sector as a whole and will continue to nurture and operate the assets to the best of our ability.”
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.
Ault Alliance Investor Contact:
IR@Ault.com or 1-888-753-2235
Source: Ault Alliance, Inc.
FAQ
Why did Ault Alliance decide to end the marketing process for its four hotels?
Ault Alliance ceased the marketing process due to the properties no longer meeting the held for sale criteria.
What were the assets and liabilities of AGREE as of December 31, 2023?
AGREE had assets of $91.0 million and liabilities of $70.4 million as of December 31, 2023.
What will happen to the assets and liabilities of AGREE in future periods?
In future periods, AGREE's assets and liabilities will be reclassified to assets and liabilities held and used, with discontinued operations amounts moving into continuing operations.
Who is the Executive Chairman of Ault Alliance?
Milton “Todd” Ault, III is the Executive Chairman of Ault Alliance.
Where can stockholders and investors find more information about Ault Alliance?
Stockholders, investors, and interested parties can access Ault Alliance's public filings and press releases on their website or the SEC's site.
