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Ault Global Holdings, Inc. (DPW) reported significant financial growth for Q2 2021, achieving revenue of $62.1 million, a 1050% increase from the previous year. Key drivers included $53.3 million from lending and trading, bolstered by a $40 million unrealized gain from Alzamend Neuro, Inc. The company also resumed cryptocurrency mining, generating $291,000 in revenue. Net income reached $42.2 million, marking the largest quarterly profit in history. Positive working capital stood at $127.9 million with total assets exceeding $259.1 million.
Ault Global Holdings, Inc. (NYSE American: DPW) announced the results of its 2021 Annual Meeting of Stockholders held on August 13, 2021. Stockholders approved all seven proposals outlined in the Company's Definitive Proxy Statement, including the election of eight directors and the ratification of Marcum LLP as the independent auditor for FY 2021. Other approvals included the exercise of warrants for 3,850,220 shares and the establishment of the 2021 Stock Incentive Plan and Employee Stock Purchase Plan.
Ault Global Holdings (NYSE American: DPW) will host a conference call on August 16, 2021, at 2:30 p.m. PDT to discuss its second-quarter financial results. Executive Chairman Milton Ault III, CEO William Horne, and CFO Kenneth Cragun will present the company’s financial performance and future outlook, followed by a Q&A session. Participants must register by 2:00 p.m. PDT on the same day. Ault Global is focused on acquiring undervalued businesses in various industries and provides critical products and credit through its subsidiaries.
Ault Global Holdings, Inc. (NYSE: DPW) announced a new investment in Alzamend Neuro, Inc. (Nasdaq: ALZN) through its subsidiary, Digital Power Lending, LLC (DPL). Following FDA approval for Alzamend's Phase 1a study for AL001, DPL purchased 1,333,333 shares at $1.50 each, totaling $2 million, and received warrants for additional shares. This investment aims to provide Alzamend with substantial capital to facilitate its clinical trials. Ault expressed pride in supporting Alzamend's mission against Alzheimer's and highlighted its potential for further funding as the company advances its treatments.
Ault Global Holdings (NYSE American: DPW) announced that its annual stockholders' meeting scheduled for today at 9:00 a.m. PT was adjourned due to a lack of quorum. The meeting will reconvene on August 13, 2021, allowing stockholders more time to vote on proposals detailed in the Proxy Statement issued on June 7, 2021. Key proposals include the election of eight directors, the appointment of Marcum LLP as auditors, and approval of the 2021 Stock Incentive Plan and Employee Stock Purchase Plan, among others.
Ault Global Holdings, Inc. (NYSE American: DPW) has launched Ault Global Real Estate Equities, Inc. (AGREE), aimed at investing in middle-market commercial real estate in the U.S. Christopher K. Wu has been appointed as CEO to spearhead this initiative. The company plans to focus on sectors like hospitality and multifamily housing, leveraging Wu's expertise to create long-term value. Executive Chairman Milton “Todd” Ault expressed confidence in finding attractive investment opportunities, emphasizing that Wu’s leadership will facilitate non-recourse financing to enhance the real estate portfolio.
Ault Global Holdings (NYSE American: DPW) reported preliminary revenue of approximately $62 million for Q2 2021, marking a 1048% increase from $5.4 million in Q2 2020. The surge was driven by $53 million from lending and investments, including a $40 million gain from Alzamend Neuro. The company achieved an income before taxes of about $44 million, indicating profitability for the second consecutive quarter. Ault Global plans to expand its lending operations and explore IPOs for its subsidiaries, bolstered by a strong balance sheet.
Ault Global Holdings (NYSE American: DPW) announced that its annual stockholders' meeting was adjourned due to a lack of quorum. Originally scheduled for today at 9:00 a.m. PT, the meeting will reconvene on July 23, 2021. Key agenda items include the election of eight directors, ratification of Marcum LLP as the accounting firm, and approval of warrant exercises and equity plans. Stockholders are encouraged to vote their shares ahead of the new meeting date.
Ault Global Holdings announced that Alzamend Neuro submitted an IND application to the FDA for a Phase 1 clinical study of AL001, a lithium-based therapy for Alzheimer's-related dementia. This IND marks a significant step in Alzamend's pipeline development. Following this study, Alzamend plans a Phase 1/2a trial to assess safety and effectiveness. With over 47 million people affected by dementia globally, the economic burden is immense, costing the U.S. approximately $355 billion in 2021 alone. Ault holds 5.3 million shares of Alzamend, showing a strong commitment to the development of treatments for neurodegenerative diseases.
Ault Global Holdings, Inc. (DPW) has announced that its wholly owned subsidiary, Ault Disruptive Technologies Corporation (ADTC), has confidentially submitted a draft registration statement on Form S-1 to the SEC for a public offering. This offering will proceed after SEC review and market conditions. The Company also emphasizes that this announcement does not constitute a security offer or solicitation in any jurisdiction.
Ault Global focuses on acquiring undervalued businesses and technologies across various industries, supporting its strategic investments and mission-critical products.
