Ault Alliance Inc AULT.PR.D

Market manipulation persists!

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On April 29, 2024, Milton C. Ault (aka Milton Todd Ault III) touted a preliminary revenue of Ault Alliance of $36 million for Q1 2024 as a significant achievement. Clearly, he aims to manipulate the market price of Ault Alliance stock ahead of another round of dilution. However, he neglects to disclose the net losses in this quarter. For your information, net losses surged by 21% in 2023, climbing from USD 183M in 2022 to USD 233M in 2023.
 
Once more, Ault Alliance’s Bitcoin mining company "Sentium" is poised to incur further losses in 2024 following the recent Bitcoin halving. This event will exacerbate the challenges and costs associated with Bitcoin extraction. It's worth noting that Sentium mines collectively through a pool, as outlined in Ault Alliance's latest SEC annual report: "Some of our miners contribute computing power to a Bitcoin mining pool operator, where all participants' machines collectively mine Bitcoin, earning us the expected value of both block rewards and transaction fees."

Mr. Ault seemingly expects investors to believe in fairy tales, as he and his company express enthusiasm about starting the year with momentum across their key business units. His concluding remark, "This performance is a testament to our focused strategy and the hard work of our dedicated team," rings hollow, especially in the aftermath of the failed sale of the Midwest Hotel Portfolio. Focused strategy?