Ault Alliance, Inc. - AULT STOCK NEWS

Ault Alliance, Inc. (NYSE American: AULT) has amended and restated its Offer to Exchange, focusing on clarifying terms, updating financial information for 2021 and 2022, and ensuring compliance for the listing of Series H Preferred Stock on NYSE American. This amendment does not change the fundamental terms of the Offer. The updated Offer to Exchange was filed with the U.S. Securities and Exchange Commission and is available online. Stockholders are encouraged to review the related documents for critical insights regarding the Offer. This reflects Ault Alliance's strategy to enhance shareholder value while fulfilling regulatory requirements.

Ault Alliance, Inc. (NYSE American: AULT) has declared a monthly cash dividend of $0.2708333 per share on its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The record date is set for April 30, 2023, with a payment date of May 10, 2023.

In a related note, the company disclosed that its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, included a going concern explanatory paragraph from its independent auditor. This signifies a potential risk regarding the company's financial stability but does not alter prior financial statements. Shareholders and investors are encouraged to review Ault Alliance’s financial filings for further details.

Ault Alliance has announced the cancellation of the previously set record date of April 20, 2023 for the distribution of 140 million shares and warrants to purchase an additional 140 million shares of Imperalis Holding Corp. The distribution was initially declared on April 7, 2023, but federal securities laws necessitate that the distribution securities be registered before the record date. The company is also seeking approval for a reverse stock split at a meeting scheduled for May 15, 2023, which must occur prior to setting a new record date. Despite these delays, the company remains committed to completing the distribution as soon as regulatory approvals are secured.

BitNile Metaverse, Inc. (Nasdaq: BNMV) has reported significant early success for its metaverse platform, BITNILE.com, surpassing 1 million engaged users within seven weeks of its early-access launch on March 1, 2023. The platform offers browser-based access without the need for downloads or VR headsets, enhancing user accessibility. Future updates include new games, eCommerce functionalities, and social experiences aimed at increasing user engagement and retention. The company plans to introduce a rewards system and social gaming competitions by May 1, 2023, with real-world prizes. These developments may position BitNile Metaverse as a competitive player in the rapidly evolving virtual world market, appealing to advertisers through innovative models.

Ault Alliance has announced that its subsidiary BitNile is operating 12,000 Bitcoin miners, generating an annualized revenue run rate of approximately $42 million. In March 2023, BitNile mined 102 Bitcoin based on current market conditions, with Bitcoin trading at $30,000 and mining difficulty at 47.89 trillion.

BitNile has installed 3,000 S19j Pro Antminers at a Core Scientific site and operates over 4,600 environmentally friendly S19 XP Antminers in Michigan, alongside over 4,500 S19j Pro Antminers. The company expects to expand its operations further with plans to deploy over 20,000 miners by the end of 2023. Caution is noted over the volatility of Bitcoin prices and other operational factors impacting mining production.

Ault Alliance (AULT) announced a special dividend of 140 million shares and 140 million warrants of TurnOnGreen stock, rewarding loyal shareholders. The record date for this dividend is set for April 20, 2023, and eligible stockholders will receive their shares and warrants. However, the specific details regarding the dividend's timing and exercise price remain undisclosed. The company emphasizes its commitment to shareholder value through this initiative. Furthermore, regulatory approvals for the dividend are still pending, with an announcement for the payment date to follow. Stockholders are encouraged to review the company's public filings for more information.

Executive Chairman Milton Ault expressed enthusiasm for this initiative, highlighting it as a demonstration of the company’s appreciation for its shareholders.

Ault Alliance, Inc. (NYSE American: AULT) has announced the appointment of Arnold Mabee as the new CEO of its subsidiary, Circle 8 Newco, LLC. Mabee brings over 30 years of experience from the crane services industry, having previously served as President of Sterling Crane, where he successfully doubled the company's revenue. His role involves expanding Circle 8's fleet and personnel while leveraging operational excellence to enhance growth in diverse markets, including oilfield and construction. The leadership change is viewed positively by Circle 8’s executives, who believe his experience will propel the company to new heights.

Ault Alliance has announced that Alzamend Neuro has initiated its Phase I/IIA clinical trial for the immunotherapeutic vaccine ALZN002 targeting Alzheimer’s. This trial aims to establish the appropriate dosage for patients before a larger Phase IIB trial, expected within three months post-data collection. Ault Alliance holds approximately 11.3 million shares of Alzamend and has rights to acquire more, potentially bringing its total ownership to 23.8 million shares, or 22% of Alzamend's outstanding stock. The company emphasizes continued support for Alzamend's mission against Alzheimer’s disease.

Ault Alliance, Inc. (NYSE American: AULT) announces that its subsidiary, Ault Energy, LLC, has successfully drilled two economically viable oil wells in partnership with White River Energy Corp.. The first well, Harry O’Neil 20-9, produced at a depth of 9,000 feet, with Ault Energy holding a 40% working interest. The second, Peabody AMI 12-18, reached 13,500 feet, where Ault Energy owns a 37.5% interest. A third well, Denmiss LLC No. 1, is set to begin drilling by March 31, 2023. The company anticipates further updates on production and cash flow within 60 days.