NYSEAM:GPUS - Post by User
Post by
ecabrera333on Nov 20, 2024 12:04am
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Post# 36321016
The end of the road?
The end of the road?On November 19, 2024, Milton C. Ault, also known as Milton Todd Ault III, announced the quarterly report for the period ending September 30, 2024.
As previously noted, Hyperscale Data Inc. appears to be a sinking ship that Ault uses to sustain his lifestyle, seemingly heading toward bankruptcy. The company’s financial statements reveal several alarming issues:
- Rising Net Losses: The net loss widened from $22 million in Q3 2023 to $26 million in Q3 2024.
- Weak Cash Position: Cash reserves are insufficient to cover current liabilities or sustain ongoing operations.
- Eroding Stockholder Equity: Equity plummeted from $56.7 million on December 31, 2023, to $2.2 million by September 30, 2024.
- Conflict of Interest: Ault’s dual role as Founder and Executive Chairman of Hyperscale Data Inc. and owner of Ault & Company, Inc. raises concerns. The financial statements disclose significant loans and investments involving Ault & Company, casting doubt on whether these transactions serve the best interests of Hyperscale Data’s shareholders.