Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2024 | May 19, 2024 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2024 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 1-12711 | |
Entity Registrant Name | AULT ALLIANCE, INC. | |
Entity Central Index Key | 0000896493 | |
Entity Tax Identification Number | 94-1721931 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 11411 Southern Highlands Parkway | |
Entity Address, Address Line Two | Suite 240 | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89141 | |
City Area Code | (949) | |
Local Phone Number | 444-5464 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 30,065,339 | |
Class A Common Stock, $0.001 par value | ||
Title of 12(b) Security | Class A Common Stock, $0.001 par value | |
Trading Symbol | AULT | |
Security Exchange Name | NYSEAMER | |
13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share | ||
Title of 12(b) Security | 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share | |
Trading Symbol | AULT PRD | |
Security Exchange Name | NYSEAMER |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 9,430,000 | $ 8,626,000 |
Restricted cash | 5,463,000 | 4,966,000 |
Marketable equity securities | 9,426,000 | 27,000 |
Accounts receivable, net | 11,579,000 | 10,839,000 |
Inventories | 7,599,000 | 8,384,000 |
Investment in promissory notes and other, related party | 3,968,000 | |
Loans receivable, current | 1,364,000 | 1,234,000 |
Prepaid expenses and other current assets | 8,035,000 | 9,450,000 |
Current assets of discontinued operations | 91,872,000 | 90,991,000 |
TOTAL CURRENT ASSETS | 144,768,000 | 138,485,000 |
Cash and marketable securities held in trust account | 794,000 | 2,200,000 |
Intangible assets, net | 5,482,000 | 5,754,000 |
Goodwill | 6,010,000 | 6,088,000 |
Property and equipment, net | 103,989,000 | 108,829,000 |
Right-of-use assets | 7,211,000 | 6,315,000 |
Investments in common stock and equity securities, related party | 2,768,000 | 679,000 |
Investments in other equity securities | 20,077,000 | 21,767,000 |
Other assets | 8,678,000 | 9,073,000 |
TOTAL ASSETS | 299,777,000 | 299,190,000 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 61,759,000 | 66,443,000 |
Operating lease liability, current | 2,385,000 | 2,119,000 |
Notes payable, current | 12,370,000 | 12,866,000 |
Notes payable, related party, current | 293,000 | 2,375,000 |
Convertible notes payable, current | 11,131,000 | 11,763,000 |
Guarantee liability | 38,900,000 | 38,900,000 |
Current liabilities of discontinued operations | 71,405,000 | 70,361,000 |
TOTAL CURRENT LIABILITIES | 198,243,000 | 204,827,000 |
LONG TERM LIABILITIES | ||
Operating lease liability, non-current | 5,514,000 | 4,402,000 |
Notes payable, non-current | 17,314,000 | 18,158,000 |
Convertible notes payable, non-current | 9,453,000 | 9,453,000 |
Deferred underwriting commissions of Ault Disruptive Technologies Corporation (“Ault Disruptive”) subsidiary | 3,450,000 | 3,450,000 |
TOTAL LIABILITIES | 233,974,000 | 240,290,000 |
Redeemable non-controlling interests in equity of subsidiaries | 784,000 | 2,224,000 |
STOCKHOLDERS’ EQUITY | ||
Additional paid-in capital | 656,587,000 | 644,852,000 |
Accumulated deficit | (565,035,000) | (567,469,000) |
Accumulated other comprehensive loss | (2,061,000) | (2,097,000) |
Treasury stock, at cost | (30,571,000) | (30,571,000) |
TOTAL AULT ALLIANCE STOCKHOLDERS’ EQUITY | 58,950,000 | 44,719,000 |
Non-controlling interest | 6,069,000 | 11,957,000 |
TOTAL STOCKHOLDERS’ EQUITY | 65,019,000 | 56,676,000 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 299,777,000 | 299,190,000 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Preferred Stock, value | ||
Series C Preferred Stock [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Preferred Stock, value | ||
Series D Preferred Stock [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Preferred Stock, value | ||
Common Class A [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Common Stock, value | 30,000 | 4,000 |
Common Class B [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Common Stock, value |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Series A Preferred Stock [Member] | ||
Convertible preferred stock, stated value (in dollars per share) | $ 25 | $ 25 |
Preferred stock, par or stated value per share | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 7,040 | 7,040 |
Preferred stock, shares outstanding | 7,040 | 7,040 |
Preferred stock, liquidation preference, value | $ 176,000 | $ 176,000 |
Series C Preferred Stock [Member] | ||
Convertible preferred stock, stated value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, par or stated value per share | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50,000 | 50,000 |
Preferred stock, shares issued | 43,500 | 41,500 |
Preferred stock, shares outstanding | 43,500 | 41,500 |
Preferred stock, liquidation preference, value | $ 43,500,000 | $ 41,500,000 |
Series D Preferred Stock [Member] | ||
Convertible preferred stock, stated value (in dollars per share) | $ 25 | $ 25 |
Preferred stock, par or stated value per share | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 323,835 | 425,197 |
Preferred stock, shares outstanding | 323,835 | 425,197 |
Preferred stock, liquidation preference, value | $ 8,096,000 | $ 8,096,000 |
Common Class A [Member] | ||
Common stock, par or stated value per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 30,065,339 | 4,483,459 |
Common stock, shares outstanding | 30,065,339 | 4,483,459 |
Common Class B [Member] | ||
Common stock, par or stated value per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 0 | 0 |
Common stock, shares outstanding | 0 | 0 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Total revenue | $ 44,932,000 | $ 28,943,000 |
Total cost of revenue | 25,423,000 | 26,458,000 |
Gross profit | 19,509,000 | 2,485,000 |
Operating expenses | ||
Research and development | 1,072,000 | 1,842,000 |
Selling and marketing | 4,660,000 | 8,796,000 |
General and administrative | 13,380,000 | 21,571,000 |
Impairment of mined digital assets | 139,000 | |
Total operating expenses | 19,112,000 | 32,348,000 |
Income (loss) from operations | 397,000 | (29,863,000) |
Other income (expense): | ||
Interest and other income | 583,000 | 1,197,000 |
Interest expense | (4,900,000) | (12,100,000) |
Gain on conversion of investment in equity securities to marketable equity securities | 17,900,000 | |
Gain (loss) on extinguishment of debt | 1,405,000 | (63,000) |
Loss from investment in unconsolidated entity | (667,000) | |
Impairment of equity securities | (9,555,000) | |
Provision for loan losses, related party | (3,068,000) | |
Gain on the sale of fixed assets | 68,000 | 4,515,000 |
Total other income (expense), net | 11,321,000 | (16,006,000) |
Income (loss) before income taxes | 11,718,000 | (45,869,000) |
Income tax benefit | (44,000) | (263,000) |
Net income (loss) from continuing operations | 11,762,000 | (45,606,000) |
Net loss from discontinued operations | (1,801,000) | (3,223,000) |
Net income (loss) | 9,961,000 | (48,829,000) |
Net (income) loss attributable to non-controlling interest | (6,244,000) | 183,000 |
Net income (loss) attributable to Ault Alliance, Inc. | 3,717,000 | (48,646,000) |
Preferred dividends | (1,260,000) | (229,000) |
Net income (loss) available to common stockholders | $ 2,457,000 | $ (48,875,000) |
Basic net income (loss) per common share: | ||
Continuing operations | $ 0.26 | $ (971.32) |
Discontinued operations | (0.11) | (68.57) |
Basic net income (loss) per common share | 0.15 | (1,039.89) |
Continuing operations | 0.14 | (971.32) |
Discontinued operations | (0.05) | (68.57) |
Diluted net income (loss) per common share | $ 0.09 | $ (1,039.89) |
Weighted average basic common shares outstanding | 16,116,000 | 47,000 |
Weighted average diluted common shares outstanding | 36,493,000 | 47,000 |
Comprehensive income (loss) | ||
Foreign currency translation adjustment | $ 36,000 | $ 170,000 |
Other comprehensive income | 36,000 | 170,000 |
Total comprehensive income (loss) | 2,493,000 | (48,705,000) |
Revenue products [Member] | ||
Total revenue | 11,468,000 | 13,889,000 |
Revenue Digital Assets Mining [Member] | ||
Total revenue | 11,447,000 | 7,347,000 |
Crane Operations [Member] | ||
Total revenue | 12,918,000 | 12,646,000 |
Lending and Trading Activities [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Product [Member] | ||
Total cost of revenue | 9,164,000 | 9,787,000 |
Cost Of Revenue Digital Assets Mining [Member] | ||
Total cost of revenue | 8,544,000 | 8,103,000 |
Cost Of Sales Crane Operations [Member] | ||
Total cost of revenue | 7,715,000 | 7,388,000 |
Cost Of Revenue Lending And Trading Activities [Member] | ||
Total cost of revenue | $ 1,180,000 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Preferred Stock Series A [Member] | Preferred Stock Series B [Member] | Preferred Stock Series C [Member] | Preferred Stock Series D [Member] | Class A Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Treasury Stocks [Member] | Total |
Beginning balance, value at Dec. 31, 2022 | $ 565,905,000 | $ (329,078,000) | $ (1,100,000) | $ 17,496,000 | $ (29,235,000) | $ 223,988,000 | |||||
Beginning balance, shares at Dec. 31, 2022 | 7,040 | 125,000 | 172,838 | 50,966 | |||||||
Issuance of Class A common stock for restricted stock awards | |||||||||||
Issuance of Class A common stock for restricted stock awards, shares | 199 | ||||||||||
Preferred stock issued for cash | 2,255,000 | 2,255,000 | |||||||||
Preferred stock issued for cash, shares | 90,184 | ||||||||||
Preferred stock offering costs | (1,079,000) | (1,079,000) | |||||||||
Stock-based compensation | 3,931,000 | 617,000 | 4,548,000 | ||||||||
Issuance of Class A common stock for cash | 4,158,000 | 4,157,000 | |||||||||
Issuance of Class A common stock for cash, shares | 4,268 | ||||||||||
Financing cost in connection with sales of Class A common stock | (105,000) | (105,000) | |||||||||
Remeasurement of Ault Disruptive subsidiary temporary equity | (679,000) | (679,000) | |||||||||
Increase in ownership interest of subsidiary | 11,000 | (22,000) | (11,000) | ||||||||
Non-controlling position at ROI subsidiary acquired | 6,357,000 | 6,357,000 | |||||||||
Purchase of treasury stock - Ault Alpha, LP | (197,000) | (197,000) | |||||||||
Net loss | (48,645,000) | (48,645,000) | |||||||||
Series A preferred dividends ($0.63 per share) | (4,000) | (4,000) | |||||||||
Series D preferred dividends ($0.81 per share) | (162,000) | (162,000) | |||||||||
Foreign currency translation adjustments | 170,000 | 170,000 | |||||||||
Net loss attributable to non-controlling interest | (183,000) | (183,000) | |||||||||
Other | (2,000) | (65,000) | (1,000) | (68,000) | |||||||
Ending balance, value at Mar. 31, 2023 | 575,074,000 | (378,633,000) | (931,000) | 24,265,000 | (29,432,000) | 190,343,000 | |||||
Ending balance, shares at Mar. 31, 2023 | 7,040 | 125,000 | 263,022 | 55,433 | |||||||
Beginning balance, value at Dec. 31, 2023 | $ 4,000 | 644,852,000 | (567,469,000) | (2,097,000) | 11,957,000 | (30,571,000) | 56,676,000 | ||||
Beginning balance, shares at Dec. 31, 2023 | 7,040 | 41,500 | 425,197 | 4,483,459 | |||||||
Issuance of Series C preferred stock, related party | 1,818,000 | 1,818,000 | |||||||||
Issuance of Series C preferred stock, related party, shares | 2,000 | ||||||||||
Fair value of warrants issued in connection with Series C preferred stock, related party | 182,000 | 182,000 | |||||||||
Stock-based compensation | 577,000 | 577,000 | |||||||||
Issuance of Class A common stock for cash | $ 26,000 | 14,573,000 | 14,599,000 | ||||||||
Issuance of Class A common stock for cash, shares | 25,609,079 | ||||||||||
Financing cost in connection with sales of Class A common stock | (513,000) | (513,000) | |||||||||
Remeasurement of Ault Disruptive subsidiary temporary equity | (23,000) | (23,000) | |||||||||
Sale of subsidiary stock to non-controlling interests | 1,485,000 | 1,469,000 | |||||||||
Distribution to Circle 8 Crane Services, LLC (“Circle 8”) non-controlling interest | (170,000) | (170,000) | |||||||||
Conversion of RiskOn International, Inc. (“ROI”) convertible note | 863,000 | 863,000 | |||||||||
Net loss | 3,717,000 | 3,717,000 | |||||||||
Series A preferred dividends ($0.63 per share) | (4,000) | (4,000) | |||||||||
Series C preferred dividends ($25.53 per share) | (992,000) | (992,000) | |||||||||
Series D preferred dividends ($0.81 per share) | (264,000) | (264,000) | |||||||||
Foreign currency translation adjustments | 36,000 | 36,000 | |||||||||
Net loss attributable to non-controlling interest | 6,244,000 | 6,244,000 | |||||||||
Distribution of securities of TurnOnGreen, Inc. (“TurnOnGreen”) to Ault Alliance Class A common stockholders ($2.02 per share) | (4,900,000) | 4,900,000 | |||||||||
Distribution of ROI investment in White River Energy Corp (“White River”) to ROI stockholders | (19,210,000) | (19,210,000) | |||||||||
Other | (2,000) | (2,000) | |||||||||
Other, shares | (101,362) | (27,199) | |||||||||
Ending balance, value at Mar. 31, 2024 | $ 30,000 | $ 656,587,000 | $ (565,035,000) | $ (2,061,000) | $ 6,069,000 | $ (30,571,000) | $ 65,019,000 | ||||
Ending balance, shares at Mar. 31, 2024 | 7,040 | 43,500 | 323,835 | 30,065,339 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 9,961,000 | $ (48,829,000) |
Net loss from discontinued operations | (1,801,000) | (3,223,000) |
Net income (loss) from continuing operations | 11,762,000 | (45,606,000) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | ||
Depreciation and amortization | 5,935,000 | 5,325,000 |
Amortization of debt discount | 3,653,000 | 10,302,000 |
Amortization of right-of-use assets | 583,000 | 877,000 |
Stock-based compensation | 577,000 | 4,548,000 |
Gain on the sale of fixed assets | (68,000) | (4,515,000) |
Impairment of equity securities | 11,555,000 | |
Impairment of digital assets | 139,000 | |
Realized gain on the sale of digital assets | (738,000) | (250,000) |
Revenue, digital assets mining | (8,862,000) | (7,347,000) |
Realized gains on sale of marketable securities | 3,627,000 | |
Gain on conversion of investment in equity securities to marketable equity securities | (17,900,000) | |
Unrealized gains on marketable securities | (8,899,000) | (1,908,000) |
Unrealized (gains) losses on investments in common stock, related parties | (84,000) | 1,598,000 |
Income from cash held in trust | (21,000) | |
Provision for loan losses | 1,180,000 | |
Provision for loan losses, related party | 3,068,000 | |
(Gain) loss on extinguishment of debt | (1,405,000) | 63,000 |
Other | (1,196,000) | (83,000) |
Changes in operating assets and liabilities: | ||
Proceeds from the sale of digital assets | 8,634,000 | 7,780,000 |
Marketable equity securities | 21,986,000 | |
Accounts receivable | (995,000) | 5,030,000 |
Inventories | 775,000 | 1,936,000 |
Prepaid expenses and other current assets | 1,041,000 | (687,000) |
Other assets | 395,000 | (490,000) |
Accounts payable and accrued expenses | (4,385,000) | (3,801,000) |
Lease liabilities | (348,000) | (910,000) |
Net cash (used in) provided by operating activities from continuing operations | (8,478,000) | 10,349,000 |
Net cash used in operating activities from discontinued operations | (1,738,000) | (2,646,000) |
Net cash (used in) provided by operating activities | (10,216,000) | 7,703,000 |
Cash flows from investing activities: | ||
Purchase of property and equipment | (882,000) | (4,308,000) |
Investments in loans receivable | (134,000) | (181,000) |
Investments in non-marketable equity securities | (120,000) | (102,000) |
Proceeds from the sale of fixed assets | 4,515,000 | |
Other | (5,000) | 22,000 |
Net cash used in investing activities from continuing operations | (1,141,000) | (54,000) |
Net cash used in investing activities from discontinued operations | (589,000) | (2,713,000) |
Net cash used in investing activities | (1,730,000) | (2,767,000) |
Cash flows from financing activities: | ||
Gross proceeds from sales of Class A common stock | 14,599,000 | 4,158,000 |
Financing cost in connection with sales of Class A common stock | (513,000) | (105,000) |
Proceeds from sales of Series D preferred stock | 2,255,000 | |
Financing cost in connection with sales of Series D preferred stock | (1,079,000) | |
Proceeds from sales of Series C preferred stock and warrants to purchase Class A common stock, related party | 2,000,000 | |
Proceeds from subsidiaries’ sale of stock to non-controlling interests | 1,485,000 | |
Distribution to Circle 8 non-controlling interest | (170,000) | |
Proceeds from notes payable | 2,311,000 | 2,500,000 |
Repayment of margin accounts | (767,000) | |
Payments on notes payable | (5,155,000) | (19,651,000) |
Payments on convertible notes payable, related party | (188,000) | |
Payments on notes payable, related party | (1,894,000) | |
Payments of preferred dividends | (1,260,000) | (229,000) |
Purchase of treasury stock | (197,000) | |
Proceeds from sales of convertible notes | 1,800,000 | 2,680,000 |
Payments on convertible notes | (1,030,000) | (160,000) |
Net cash provided by (used in) financing activities from continuing operations | 11,985,000 | (10,595,000) |
Net cash provided by financing activities from discontinued operations | 1,056,000 | 2,498,000 |
Net cash provided by (used in) financing activities | 13,041,000 | (8,097,000) |
Effect of exchange rate changes on cash and cash equivalents | 574,000 | 177,000 |
Discontinued operations cash contributions from parent | 1,639,000 | 81,000 |
Net increase (decrease) in cash and cash equivalents and restricted cash - continuing operations | 1,301,000 | (203,000) |
Net increase (decrease) in cash and cash equivalents and restricted cash - discontinued operations | 368,000 | (2,781,000) |
Net increase (decrease) in cash and cash equivalents and restricted cash | 1,669,000 | (2,984,000) |
Cash and cash equivalents and restricted cash at beginning of period - continuing operations | 13,592,000 | 8,674,000 |
Cash and cash equivalents and restricted cash at beginning of period - discontinued operations | 1,776,000 | 5,381,000 |
Cash and cash equivalents and restricted cash at beginning of period | 15,368,000 | 14,055,000 |
Cash and cash equivalents and restricted cash at end of period | 17,037,000 | 11,071,000 |
Less cash and cash equivalents and restricted cash of discontinued operations at end of period | (2,144,000) | (2,601,000) |
Cash and cash equivalents and restricted cash of continued operations at end of period | 14,893,000 | 8,470,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for interest - continuing operations | 1,945,000 | 2,990,000 |
Cash paid during the period for interest - discontinued operations | 2,023,000 | 1,668,000 |
Non-cash investing and financing activities: | ||
Settlement of accounts payable with digital assets | 8,000 | |
Settlement of interest payable with digital assets | 142,000 | |
Settlement of note payable with digital assets | 506,000 | |
Conversion of convertible notes payable, related party into shares of Class A common stock | 400,000 | |
Conversion of debt and equity securities to marketable securities | 1,810,000 | 13,340,000 |
Conversion of loans receivable to marketable securities | 5,430,000 | |
Exchange of related party advances for investment in other equity securities, related party | 2,000,000 | |
Recognition of new operating lease right-of-use assets and lease liabilities | $ 1,725,000 | |
Remeasurement of Ault Disruptive temporary equity | 23,000 | 679,000 |
Dividend of ROI investment in White River to ROI shareholders | $ 19,210,000 | |
Redeemable non-controlling interests in equity of subsidiaries paid with cash and marketable securities held in trust account | 1,463,000 | |
Dividend paid in TurnOnGreen common stock in additional paid-in capital | 4,900,000 | |
Debt discount from accrued lender profit participation rights | $ 8,500,000 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
DESCRIPTION OF BUSINESS | 1. DESCRIPTION OF BUSINESS Ault Alliance, Inc., a Delaware corporation (“Ault Alliance” or the “Company”) is a diversified holding company pursuing growth by acquiring and developing undervalued businesses and disruptive technologies with a global impact. Through its wholly- and majority-owned subsidiaries and strategic investments, the Company 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, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. The Company has the following seven reportable segments: · Energy and Infrastructure (“Energy”) – crane operations, advanced textiles processing and oil exploration; · Technology and Finance (“Fintech”) – commercial lending, activist investing, and stock trading; · Sentinum, Inc. (“Sentinum”) – digital assets mining operations and colocation and hosting services for the emerging artificial intelligence ecosystems and other industries; · Gresham Worldwide, Inc., formerly known as Giga-tronics Incorporated (“GIGA”) – defense industry; · TurnOnGreen – commercial electronics solutions; · ROI – immersive metaverse platform, media, and digital learning; and · Ault Disruptive – a special purpose acquisition company. |
LIQUIDITY AND FINANCIAL CONDITI
LIQUIDITY AND FINANCIAL CONDITION | 3 Months Ended |
Mar. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
LIQUIDITY AND FINANCIAL CONDITION | 2. LIQUIDITY AND FINANCIAL CONDITION As of March 31, 2024, the Company had cash and cash equivalents of $ 9.4 53.5 The condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Accordingly, the condensed consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. In making this assessment management performed a comprehensive analysis of the Company’s current circumstances, including its financial position, cash flow and cash usage forecasts, as well as obligations and debts. Although management has a long history of successful capital raises, the analysis used to determine the Company’s ability as a going concern does not include cash sources beyond the Company’s direct control that management expects to be available within the next 12 months. Management expects that the Company’s existing cash and cash equivalents, accounts receivable and marketable securities as of March 31, 2024, will not be sufficient to enable the Company to fund its anticipated level of operations through one year from the date these financial statements are issued. Management anticipates raising additional capital through the private and public sales of the Company’s equity or debt securities and selling its marketable securities as well as digital assets, or a combination thereof. Although management believes that such capital sources will be available, there can be no assurances that financing will be available to the Company when needed in order to allow the Company to continue its operations, or if available, on terms acceptable to the Company. If the Company does not raise sufficient capital in a timely manner, among other things, the Company may be forced to scale back or cease its operations altogether. |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 3. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Regulation S-X and do not include all the information and disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). The Company has made estimates and judgments affecting the amounts reported in the Company’s condensed consolidated financial statements and the accompanying notes. The actual results experienced by the Company may differ materially from the Company’s estimates. The condensed consolidated financial information is unaudited but reflects all normal adjustments that are, in the opinion of management, necessary to provide a fair statement of results for the interim periods presented. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2024. The condensed consolidated balance sheet as of December 31, 2023 was derived from the Company’s audited 2023 financial statements contained in the above referenced 2023 Annual Report. Results of the three months ended March 31, 2024, are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. Significant Accounting Policies Other than as noted below, there have been no material changes to the Company’s significant accounting policies previously disclosed in the 2023 Annual Report. Reclassifications Certain prior period amounts have been reclassified for comparative purposes to conform to the current-period financial statement presentation. These reclassifications had no effect on previously reported results of operations. Recently Issued Accounting Standards On December 14, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures On November 27, 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures |
ASSETS HELD FOR SALE AND DISCON
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS | 3 Months Ended |
Mar. 31, 2024 | |
Assets Held For Sale And Discontinued Operations | |
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS | 4. ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS Presentation of Ault Global Real Estate Equities, Inc. (“AGREE”) Operations In September 2023, the Company committed to a plan for its wholly owned subsidiary AGREE to list for sale its four recently renovated Midwest hotels, the Hilton Garden Inn in Madison West, the Residence Inn in Madison West, the Courtyard in Madison West, and the Hilton Garden Inn in Rockford. The decision to sell the hotels follows the decision to also list the multifamily development site in St. Petersburg, Florida and is driven by the Company’s desire to focus on its core businesses, Energy, Fintech and Sentinum. In connection with the planned sale of AGREE assets, the Company concluded that the net assets of AGREE met the criteria for classification as held for sale. In addition, the proposed sale represents a strategic shift that will have a significant effect on the Company’s operations and financial results. As a result, the Company has presented the results of operations, cash flows and financial position of AGREE as discontinued operations in the accompanying consolidated financial statements and notes for all periods presented. As of March 31, 2024 and December 31, 2023, the Company has classified the total assets and total liabilities associated with AGREE as current in the consolidated balance sheets. The following table presents the assets and liabilities of AGREE operations: Schedule of assets and liabilities of agree operations March 31, December 31, 2024 2023 Cash and cash equivalents $ 1,285,000 $ 1,080,000 Restricted cash 859,000 697,000 Accounts receivable 204,000 247,000 Inventories 59,000 50,000 Property and equipment, net - current 89,114,000 88,525,000 Prepaid expenses and other current assets 351,000 392,000 Total current assets 91,872,000 90,991,000 Property and equipment, net - - Total assets 91,872,000 90,991,000 Accounts payable and accrued expenses 2,985,000 3,099,000 Notes payable, current 68,420,000 67,262,000 Total current liabilities 71,405,000 70,361,000 Total liabilities 71,405,000 70,361,000 Net assets of discontinued operations $ 20,467,000 $ 20,630,000 A disposal group classified as held for sale shall be measured at the lower of its carrying amount or fair value less costs to sell. No impairment was recognized up reclassification of the disposal group as assets and liabilities held for sale. The following table presents the results of AGREE operations: Schedule of estimated costs to sell and expected For the Three Months Ended March 31, 2024 2023 Revenue, hotel and real estate operations $ 3,006,000 $ 2,243,000 Cost of revenue, hotel operations 2,817,000 2,688,000 Gross profit 189,000 (445,000 ) General and administrative 407,000 1,110,000 Total operating expenses 407,000 1,110,000 Loss from operations (218,000 ) (1,555,000 ) Interest expense (1,583,000 ) (1,668,000 ) Net loss from discontinued operations $ (1,801,000 ) $ (3,223,000 ) The cash flow activity related to discontinued operations is presented separately on the statement of cash flows as summarized below: Schedule of cash flow activity related to discontinued operations For the Three Months Ended March 31, 2024 2023 Cash flows from operating activities: Net loss $ (1,801,000 ) $ (3,223,000 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization - 838,000 Amortization of debt discount 101,000 98,000 Changes in operating assets and liabilities: Accounts receivable 43,000 114,000 Inventories (9,000 ) (12,000 ) Prepaid expenses and other current assets 41,000 (32,000 ) Accounts payable and accrued expenses (113,000 ) (429,000 ) Net cash used in operating activities (1,738,000 ) (2,646,000 ) Cash flows from investing activities: Purchase of property and equipment (589,000 ) (2,713,000 ) Net cash used in investing activities (589,000 ) (2,713,000 ) Cash flows from financing activities: Proceeds from notes payable 1,056,000 2,498,000 Cash contributions from parent 1,639,000 81,000 Net cash provided by financing activities 2,695,000 2,579,000 Net increase (decrease) in cash and cash equivalents and restricted cash 368,000 (2,780,000 ) Cash and cash equivalents and restricted cash at beginning of period 1,776,000 5,381,000 Cash and cash equivalents and restricted cash at end of period $ 2,144,000 $ 2,601,000 Supplemental disclosures of cash flow information: Cash paid during the period for interest $ 1,583,000 $ 1,668,000 Change in Plan of Sale of AGREE Hotel Properties On April 30, 2024, the Company had a change in plan of sale for its four hotels owned and operated by AGREE. As a result, as of April 30, 2024, the assets will no longer meet the held for sale criteria and will be required to be reclassified as held and used at the lower of adjusted carrying value or the fair value at the date of the subsequent decision not to sell. |
REVENUE DISAGGREGATION
REVENUE DISAGGREGATION | 3 Months Ended |
Mar. 31, 2024 | |
Revenue Disaggregation | |
REVENUE DISAGGREGATION | 5. REVENUE DISAGGREGATION The following tables summarize disaggregated customer contract revenues and the source of the revenue for the three months ended March 31, 2024 and 2023. Revenues from lending and trading activities included in consolidated revenues were primarily interest, dividend and other investment income, which are not considered to be revenues from contracts with customers under GAAP. The Company’s disaggregated revenues consisted of the following for the three months ended March 31, 2024 (excludes Ault Disruptive, as that segment has no revenue): Schedule of disaggregated revenues GIGA TurnOnGreen Fintech Sentinum Energy ROI Holding Company Total Primary Geographical Markets North America $ 2,065,000 $ 1,157,000 $ - $ 11,749,000 $ 12,918,000 $ 28,000 $ 301,000 $ 28,218,000 Europe 2,511,000 4,000 - - 39,000 - - 2,554,000 Middle East and other 4,997,000 64,000 - - - - - 5,061,000 Revenue from contracts with customers 9,573,000 1,225,000 - 11,749,000 12,957,000 28,000 301,000 35,833,000 Revenue, lending and trading activities (North America) - - 9,099,000 - - - - 9,099,000 Total revenue $ 9,573,000 $ 1,225,000 $ 9,099,000 $ 11,749,000 $ 12,957,000 $ 28,000 $ 301,000 $ 44,932,000 Major Goods or Services Radio frequency/microwave filters $ 2,091,000 $ - $ - $ - $ - $ - $ - $ 2,091,000 Power supply units and systems 2,260,000 1,225,000 - - - - - 3,485,000 Healthcare diagnostic systems 531,000 - - - - - - 531,000 Defense systems 4,691,000 - - - - - - 4,691,000 Digital assets mining - - - 11,447,000 - - - 11,447,000 Crane rental - - - - 12,918,000 - - 12,918,000 Other - - - 302,000 39,000 28,000 301,000 670,000 Revenue from contracts with customers 9,573,000 1,225,000 - 11,749,000 12,957,000 28,000 301,000 35,833,000 Revenue, lending and trading activities - - 9,099,000 - - - - 9,099,000 Total revenue $ 9,573,000 $ 1,225,000 $ 9,099,000 $ 11,749,000 $ 12,957,000 $ 28,000 $ 301,000 $ 44,932,000 Timing of Revenue Recognition Goods and services transferred at a point in time $ 4,762,000 $ 10,000 $ - $ 11,749,000 $ 39,000 $ 28,000 $ 301,000 $ 16,889,000 Services transferred over time 4,811,000 1,215,000 - - 12,918,000 - - 18,944,000 Revenue from contracts with customers $ 9,573,000 $ 1,225,000 $ - $ 11,749,000 $ 12,957,000 $ 28,000 $ 301,000 $ 35,833,000 The Company’s disaggregated revenues consisted of the following for the three months ended March 31, 2023 (excludes Ault Disruptive, as that segment has no revenue): GIGA TurnOnGreen Fintech Sentinum The Singing Machine Company, Inc. (“SMC”) Energy Total Primary Geographical Markets North America $ 2,334,000 $ 785,000 $ - $ 7,805,000 $ 3,383,000 $ 13,085,000 $ 27,392,000 Europe 2,441,000 4,000 - - - 25,000 2,470,000 Middle East and other 3,933,000 87,000 - - - - 4,020,000 Revenue from contracts with customers 8,708,000 876,000 - 7,805,000 3,383,000 13,110,000 33,882,000 Revenue, lending and trading activities (North America) - - (4,939,000 ) - - - (4,939,000 ) Total revenue $ 8,708,000 $ 876,000 $ (4,939,000 ) $ 7,805,000 $ 3,383,000 $ 13,110,000 $ 28,943,000 Major Goods or Services Radio frequency/microwave filters $ 1,792,000 $ - $ - $ - $ - $ - $ 1,792,000 Power supply units and systems 3,114,000 876,000 - - - - 3,990,000 Healthcare diagnostic systems 1,137,000 - - - - - 1,137,000 Defense systems 2,665,000 - - - - - 2,665,000 Digital assets mining - - - 7,347,000 - - 7,347,000 Karaoke machines and related consumer goods - - - - 3,383,000 - 3,383,000 Crane rental - - - - - 12,646,000 12,646,000 Other - - - 458,000 - 464,000 922,000 Revenue from contracts with customers 8,708,000 876,000 - 7,805,000 3,383,000 13,110,000 33,882,000 Revenue, lending and trading activities - - (4,939,000 ) - - - (4,939,000 ) Total revenue $ 8,708,000 $ 876,000 $ (4,939,000 ) $ 7,805,000 $ 3,383,000 $ 13,110,000 $ 28,943,000 Timing of Revenue Recognition Goods and services transferred at a point in time $ 5,406,000 $ 873,000 $ - $ 7,805,000 $ 3,383,000 $ 464,000 $ 17,931,000 Services transferred over time 3,302,000 3,000 - - - 12,646,000 15,951,000 Revenue from contracts with customers $ 8,708,000 $ 876,000 $ - $ 7,805,000 $ 3,383,000 $ 13,110,000 $ 33,882,000 |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS | 6. FAIR VALUE OF FINANCIAL INSTRUMENTS The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy: Fair value, assets measured on recurring basis Fair Value Measurement at March 31, 2024 Total Level 1 Level 2 Level 3 Assets: Investment in common stock of Alzamend Neuro, Inc. (“Alzamend”) – a related party $ 768,000 $ 768,000 $ - $ - Investments in marketable equity securities 9,426,000 9,426,000 - - Cash and marketable securities held in trust account 794,000 794,000 - - Total assets measured at fair value $ 10,988,000 $ 10,988,000 $ - $ - Liabilities: Warrant and embedded conversion feature liabilities $ 715,000 $ - $ - $ 715,000 Convertible promissory notes 21,180,000 - - 21,180,000 Total liabilities measured at fair value $ 21,895,000 $ - $ - $ 21,895,000 Fair Value Measurement at December 31, 2023 Total Level 1 Level 2 Level 3 Assets: Investment in common stock of Alzamend $ 679,000 $ 679,000 $ - $ - Investments in marketable equity securities 27,000 27,000 - - Cash and marketable securities held in trust account 2,200,000 2,200,000 - - Total assets measured at fair value $ 2,906,000 $ 2,906,000 $ - $ - Liabilities: Warrant and embedded conversion feature liabilities $ 1,742,000 $ - $ - $ 1,742,000 Convertible promissory notes 22,485,000 - - 22,485,000 Total liabilities measured at fair value $ 24,227,000 $ - $ - $ 24,227,000 The Company assesses the inputs used to measure fair value using the three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market. For investments where little or no public market exists, management’s determination of fair value is based on the best available information which may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration various factors including earnings history, financial condition, recent sales prices of the issuer’s securities and liquidity risks. Equity Investments for Which Measurement Alternative Has Been Selected As of March 31, 2024 and December 31, 2023, the Company held equity investments in other securities valued at $ 20.6 21.8 The Company has made cumulative downward adjustments for impairments for equity securities that do not have readily determinable fair values for the three months ended March 31, 2024 and 2023, totaling $ 0 11.6 9.6 The changes in Level 3 fair value hierarchy during the three months ended March 31, 2024 and 2023 were as follows: Schedule of changes in fair value hierarchy Level 3 Balance at Beginning of Period Fair Value Adjustments Purchases, Sales and Settlements Transfer in and/or out of Level 3 Level 3 Balance at End of Period Three months ended March 31, 2024 Warrant and embedded conversion feature liabilities $ 1,742,000 $ (1,027,000 ) $ - $ - $ 715,000 Convertible promissory notes 22,485,000 - 770,000 (2,075,000 ) 21,180,000 Three months ended March 31, 2023 Warrant and embedded conversion feature liabilities $ 2,967,000 $ (1,311,000 ) $ 1,530,000 $ - $ 3,186,000 Series E, F and G preferred stock liabilities - 8,500,000 - 8,500,000 Convertible promissory notes 10,571,000 - 2,205,000 - 12,776,000 |
Marketable EQUITY Securities
Marketable EQUITY Securities | 3 Months Ended |
Mar. 31, 2024 | |
Marketable Equity Securities | |
Marketable EQUITY Securities | 7. Marketable EQUITY Securities Marketable equity securities with readily determinable market prices consisted of the following as of March 31, 2024 and December 31, 2023: Schedule of marketable securities Marketable equity securities at March 31, 2024 Gross unrealized Gross unrealized Cost gains losses Fair value Common shares $ 5,581,000 $ 8,910,000 $ (5,065,000 ) $ 9,426,000 Marketable equity securities at December 31, 2023 Gross unrealized Gross unrealized Cost gains losses Fair value Common shares $ 5,119,000 $ 12,000 $ (5,104,000 ) $ 27,000 The Company’s investment in marketable equity securities is revalued on each balance sheet date. |
DIGITAL ASSETS
DIGITAL ASSETS | 3 Months Ended |
Mar. 31, 2024 | |
Digital Assets | |
DIGITAL ASSETS | 8. DIGITAL ASSETS The following table presents revenue from mined digital assets for the three months ended March 31, 2024 and 2023: Schedule of revenue from digital assets For the Three Months Ended March 31, 2024 2023 Revenue from mined digital assets at Sentinum owned and operated facilities $ 8,862,000 $ 7,347,000 Revenue from Sentinum mining equipment hosted at third-party facilities 2,585,000 - Revenue, digital assets mining $ 11,447,000 $ 7,347,000 The following table presents the activities of the digital assets (included in prepaid expenses and other current assets) for the three months ended March 31, 2024 and 2023: Schedule of activities of the digital assets Digital Assets Balance at January 1, 2024 $ 546,000 Additions of mined digital assets 8,862,000 Payments to vendors (8,000 ) Sale of digital assets (8,634,000 ) Payment of notes payable with digital assets (506,000 ) Payment of interest payable with digital assets (142,000 ) Realized gain on sale of digital assets 738,000 Unrealized gain on digital assets 43,000 Balance at March 31, 2024 $ 899,000 Digital Assets Balance at January 1, 2023 $ 554,000 Additions of mined digital assets 7,347,000 Payments to vendors (139,000 ) Sale of digital assets (7,780,000 ) Realized gain on sale of digital assets 250,000 Balance at March 31, 2023 $ 232,000 |
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET | 3 Months Ended |
Mar. 31, 2024 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT, NET | 9. PROPERTY AND EQUIPMENT, NET At March 31, 2024 and December 31, 2023, property and equipment consisted of: Schedule of property and equipment March 31, 2024 December 31, 2023 Building, land and improvements $ 16,161,000 $ 15,752,000 Digital assets mining equipment 50,640,000 50,640,000 Crane rental equipment 34,228,000 34,469,000 Computer, software and related equipment 14,885,000 14,335,000 Aircraft 15,983,000 15,983,000 Other property and equipment 8,751,000 8,603,000 140,648,000 139,782,000 Accumulated depreciation and amortization (36,659,000 ) (30,953,000 ) Property and equipment, net $ 103,989,000 $ 108,829,000 Summary of depreciation expense: Schedule of depreciation For the Three Months Ended March 31, 2024 2023 Depreciation expense $ 5,778,000 $ 5,072,000 |
INTANGIBLE ASSETS, NET
INTANGIBLE ASSETS, NET | 3 Months Ended |
Mar. 31, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS, NET | 10. INTANGIBLE ASSETS, NET At March 31, 2024 and December 31, 2023, intangible assets consisted of: Schedule of intangible asset Useful Life March 31, 2024 December 31, 2023 Definite lived intangible assets: Developed technology 3 8 $ 1,807,000 $ 1,949,000 Customer list 8 10 3,567,000 3,596,000 Trade names 5 10 1,030,000 1,030,000 Domain name and other intangible assets 5 603,000 612,000 7,007,000 7,187,000 Accumulated amortization (1,998,000 ) (1,910,000 ) Total definite-lived intangible assets $ 5,009,000 $ 5,277,000 Indefinite lived intangible assets: Trade name and trademark Indefinite life 473,000 477,000 Total intangible assets, net $ 5,482,000 $ 5,754,000 Certain of the Company’s trade names and trademarks were determined to have an indefinite life. The remaining definite-lived intangible assets are primarily being amortized on a straight-line basis over their estimated useful lives. Schedule of indefinite-lived intangible assets For the Three Months Ended March 31, 2024 2023 Amortization expense $ 157,000 $ 253,000 As of March 31, 2024, intangible assets subject to amortization have an average remaining useful life of 9.5 years. Schedule of estimated amortization expense 2024 (remainder) $ 628,000 2025 704,000 2026 704,000 2027 704,000 2028 693,000 2029 473,000 Thereafter 1,103,000 $ 5,009,000 |
GOODWILL
GOODWILL | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Goodwill Abstract | |
GOODWILL | 11. GOODWILL The following table summarizes the changes in the Company’s goodwill for the three months ended March 31, 2024: Schedule of goodwill Goodwill Balance as of January 1, 2024 $ 6,088,000 Effect of exchange rate changes (78,000 ) Balance as of March 31, 2024 $ 6,010,000 |
INVESTMENTS _ RELATED PARTIES
INVESTMENTS – RELATED PARTIES | 3 Months Ended |
Mar. 31, 2024 | |
Investments Related Parties | |
INVESTMENTS – RELATED PARTIES | 12. INVESTMENTS – RELATED PARTIES Investments in Alzamend and Ault & Company, Inc. (“Ault & Company”) at March 31, 2024 and December 31, 2023, were comprised of the following: Investment in Promissory Notes, Related Parties – Ault & Company Schedule of investment Interest Due March 31, December 31, Rate Date 2024 2023 Promissory note, related party 8% Dec. 31, 2024 $ - $ 2,500,000 Accrued interest receivable Ault & Company - 568,000 Other - Alzamend - 900,000 Total investment in promissory notes and other, related parties $ - $ 3,968,000 Summary of interest income, related party, recorded within interest and other income on the condensed consolidated statement of operations: Schedule of Interest income, related party For the Three Months Ended March 31, 2024 2023 Interest income, related party $ - $ 50,000 During the quarter ended March 31, 2023, due to uncertainties surrounding collection, the Company recorded a loan loss reserve of $3.1 million related to the promissory note from Ault & Company, reversed the related accrued receivable and did not record interest income on the note. Investment in Common Stock, Related Parties – Alzamend Schedule of investment in common stock Investments in common stock, related parties at March 31, 2024 Cost Gross unrealized losses Fair value Common shares $ 24,694,000 $ (23,926,000 ) $ 768,000 Investments in common stock, related parties at December 31, 2023 Cost Gross unrealized losses Fair value Common shares $ 24,688,000 $ (24,009,000 ) $ 679,000 The following table summarizes the changes in the Company’s investments in Alzamend common stock during the three months ended March 31, 2024 and 2023: Schedule of investment in warrants and common stock For the Three Months Ended March 31, 2024 2023 Balance at January 1 $ 679,000 $ 6,449,000 Investment in common stock of Alzamend 5,000 5,000 Unrealized gain (loss) in common stock of Alzamend 84,000 (1,598,000 ) Balance at March 31 $ 768,000 $ 4,856,000 Ault Lending, LLC (“Ault Lending”) Investment in Alzamend Series B Convertible Preferred Stock and Warrants Schedule of investment in warrants and preferred stock March 31, December 31, 2024 2023 Investment in Alzamend preferred stock $ 2,000,000 $ - Total investment in other investments securities, related party $ 2,000,000 $ - In connection with a securities purchase agreement entered into with Alzamend in January 2024, the Company purchased 2,000 shares of Alzamend Series B Convertible Preferred Stock and warrants to purchase 2.0 million shares of Alzamend common stock with a five-year term and an exercise price of $1.20 per share for a total purchase price of $2.0 million. The Agreement provides that Ault Lending may purchase up to $6 million of Alzamend Series B Convertible Preferred Stock in one or more closings. The Company has elected to account for investment in other investments securities, related party, using a measurement alternative under which they are measured at cost and adjusted for observable price changes and impairments. Messrs. Ault, Horne and Nisser are each paid $ 50,000 |
EQUITY METHOD INVESTMENT
EQUITY METHOD INVESTMENT | 3 Months Ended |
Mar. 31, 2024 | |
Equity Method Investments and Joint Ventures [Abstract] | |
EQUITY METHOD INVESTMENT | 13. EQUITY METHOD INVESTMENT Equity Investments in Unconsolidated Entity – SMC The following table summarizes the changes in the Company’s equity investments in an unconsolidated entity, SMC, included in other assets on the condensed consolidated balance sheet, during the three months ended March 31, 2024: Schedule of equity investments in unconsolidated entity – SMC Rollforward investment in unconsolidated entity Amount Beginning balance - January 1, 2024 $ 1,957,000 Loss from investment in unconsolidated entity (667,000 ) Ending balance - March 31, 2024 $ 1,290,000 The following table provides summarized financial information for the Company’s ownership interest in SMC accounted for under the equity method and has been compiled from SMC’s financial statements. Amounts presented represent totals at the investee level and not the Company’s proportionate share: Summarized Statements of Operations Schedule of summarized statements of operations For the Three March 31, 2024 Revenue $ 2,426,000 Gross profit $ 502,000 Loss from operations $ (2,287,000 ) Net loss $ (2,368,000 ) Summarized Balance Sheet Information Schedule of summarized balance sheet information March 31, December 31, 2024 2023 Current assets $ 15,532,000 $ 23,206,000 Non-current assets $ 4,372,000 $ 4,509,000 Current liabilities $ 10,645,000 $ 16,209,000 Non-current liabilities $ 4,029,000 $ 3,928,000 |
ACCOUNTS PAYABLE AND ACCRUED EX
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 3 Months Ended |
Mar. 31, 2024 | |
Payables and Accruals [Abstract] | |
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 14. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Other current liabilities at March 31, 2024 and December 31, 2023 consisted of: Schedule of other current liabilities March 31, December 31, 2024 2023 Accounts payable $ 25,517,000 $ 32,592,000 Accrued payroll and payroll taxes 10,520,000 9,779,000 Financial instrument liabilities 560,000 832,000 Interest payable 4,534,000 4,197,000 Accrued legal 2,399,000 2,340,000 Contract liabilities 1,820,000 1,621,000 Other accrued expenses 16,409,000 15,082,000 $ 61,759,000 $ 66,443,000 |
DIVIDEND PAYABLE IN TURNONGREEN
DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK | 3 Months Ended |
Mar. 31, 2024 | |
Dividend Payable In Turnongreen Common Stock | |
DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK | 15. DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK In March 2024, the Company, in connection with a planned distribution of its common stock holdings of TurnOnGreen, announced the distribution to its stockholders 25.0 25.0 4.9 |
ROI TRANSFERS OF WHITE RIVER CO
ROI TRANSFERS OF WHITE RIVER COMMON STOCK | 3 Months Ended |
Mar. 31, 2024 | |
Roi Transfers Of White River Common Stock | |
ROI TRANSFERS OF WHITE RIVER COMMON STOCK | 16. ROI TRANSFERS OF WHITE RIVER COMMON STOCK In January 2024, ROI announced that it had concluded that, for regulatory reasons, ROI would be unable to effect the distribution of its shares of common stock of White River as contemplated by a registration statement previously filed by White River. In an effort to attempt to fulfill its original intent to transfer the shares to ROI shareholders of record as of September 30, 2022, ROI would send such shareholders an agreement whereby qualified shareholders can demonstrate to ROI’s satisfaction that they in fact were beneficial shareholders of ROI’s common or preferred stock as of September 30, 2022 and affirm that they are “accredited investors” by July 26, 2024. During the quarter ended March 31, 2024, ROI transferred 6.7 million shares of White River common stock with a fair value of $19.2 million at the date of transfer to certain of its accredited investors to resolve the matters discussed above. In conjunction with the transfers to non-controlling interests, ROI converted a portion of their White River’s Series A Convertible Preferred Stock into common stock and recorded a non-cash $17.9 million gain on conversion. Ault Lending Transfer On February 14, 2024, ROI transferred 2.5 million shares of White River common stock with a carryover basis of $0.5 million at the date of transfer to Ault Lending. 2.5 9.4 8.9 |
REDEEMABLE NONCONTROLLING INTER
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF SUBSIDIARY LIABILITY | 3 Months Ended |
Mar. 31, 2024 | |
Redeemable Noncontrolling Interests In Equity Of Subsidiary Liability | |
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF SUBSIDIARY LIABILITY | 17. REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF SUBSIDIARY LIABILITY The Company records redeemable noncontrolling interests in equity of subsidiaries to reflect the economic interests of the common stockholders in Ault Disruptive. As of March 31, 2024, the carrying amount of the redeemable noncontrolling interest in equity of subsidiaries was recorded at its redemption value of $ 0.8 1.4 The following table summarizes the changes in the Company’s redeemable noncontrolling interests in equity of subsidiaries during the three months ended March 31, 2024: Redeemable noncontrolling interests in equity of subsidiary liability Redeemable noncontrolling interests in equity of subsidiaries as of January 1, 2024 $ 2,224,000 Redemption of ADRT common stock (1,463,000 ) Remeasurement of carrying value to redemption value 23,000 Redeemable noncontrolling interests in equity of subsidiaries as of March 31, 2024 $ 784,000 |
NOTES PAYABLE
NOTES PAYABLE | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | 18. NOTES PAYABLE Notes payable at March 31, 2024 and December 31, 2023, were comprised of the following: Schedule of notes payable Collateral Guarantors Interest Due date March 31, 2024 December 31, Circle 8 revolving credit facility Circle 8 cranes with a book value of $30.7 million - 8.4% December 16, 2025 $ 15,467,000 $ 15,907,000 16% promissory note (in default at December 31, 2023) - Ault & Company and Milton C. Ault, III 16.0% June 15, 2024 4,072,000 2,572,000 Circle 8 equipment financing notes Circle 8 equipment with a book value of $3.8 million - 6.6% April 15, 2024 November 15, 2026 4,739,000 5,629,000 8% demand loans - - 8.0% Upon demand - 950,000 Short-term bank credit facilities - - 6.8% Renews monthly 942,000 1,464,000 Sentinum note payable - - 12.5% - - 1,067,000 ROI promissory note (in default as of May 1, 2024) - - 18.0% April 30, 2024 2,094,000 - Other ($0.9 million in default at March 31, 2024) - - - - 2,698,000 3,518,000 Total notes payable $ 30,012,000 $ 31,107,000 Less: Unamortized debt discounts (328,000 ) (83,000 ) Total notes payable, net $ 29,684,000 $ 31,024,000 Less: current portion (12,370,000 ) (12,866,000 ) Notes payable – long-term portion $ 17,314,000 $ 18,158,000 ROI 15% Term Note On February 9, 2024, ROI entered into a $ 1.77 15% 1.75 2.1 18% April 30, 2024 Subsequent Events – 15% Term Notes On April 29, 2024, the Company entered into a $ 1.7 15% 1.6 May 17, 2024 On May 16, 2024, the Company entered into a $ 0.5 15% June 15, 2024 Notes Payable Maturities The contractual maturities of the Company’s notes payable, assuming the exercise of all extensions that are exercisable solely at the Company’s option, as of March 31, 2024 were: Schedule of maturities Year 2024 (remainder) $ 12,370,000 2025 17,241,000 2026 379,000 2027 11,000 2028 11,000 $ 30,012,000 Interest Expense Schedule of interest expense For the Three Months Ended March 31, 2024 2023 Contractual interest expense $ 1,263,000 $ 1,097,000 Forbearance fees 1,500,000 603,000 Amortization of debt discount 2,137,000 10,400,000 Total interest expense $ 4,900,000 $ 12,100,000 |
NOTES PAYABLE, RELATED PARTY
NOTES PAYABLE, RELATED PARTY | 3 Months Ended |
Mar. 31, 2024 | |
Notes Payable Related Party | |
NOTES PAYABLE, RELATED PARTY | 19. NOTES PAYABLE, RELATED PARTY Notes payable, related party at March 31, 2024 and December 31, 2023, were comprised of the following: Schedule of notes payable, related party Interest rate Due date March 31, 2024 December 31, 2023 Notes from officers – Ault Alliance 18% - $ - $ 98,000 Notes from officers - TurnOnGreen 14% Past due 51,000 51,000 Notes from board member - ROI 18% - - 90,000 Ault & Company advances No interest Upon demand 65,000 1,909,000 Advances from officers - GIGA 8% Upon demand 53,000 52,000 Other related party advances No interest Upon demand 124,000 175,000 Total notes payable $ 293,000 $ 2,375,000 Summary of interest expense, related party, recorded within interest expense on the condensed consolidated statement of operations: Schedule of interest expense, related party For the Three Months Ended March 31, 2024 2023 Interest expense, related party $ 16,000 $ - |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 3 Months Ended |
Mar. 31, 2024 | |
Convertible Notes | |
CONVERTIBLE NOTES | 20. CONVERTIBLE NOTES Convertible notes payable at March 31, 2024 and December 31, 2023, were comprised of the following: Schedule of convertible notes payable Conversion price per Interest rate Due date March 31, 2024 December 31, 2023 Convertible promissory notes $ 0.35 6% June 12, 2024 $ 2,000,000 $ - Convertible promissory note – original issue discount (“OID”) only 90% of 5-day VWAP OID Only September 28, 2024 643,000 1,673,000 Avalanche International Corp. (“AVLP”) convertible promissory notes, principal $ 0.35 7% August 22, 2025 9,911,000 9,911,000 GIGA senior secured convertible notes - in default $ 0.25 18% October 11, 2024 4,381,000 4,388,000 ROI senior secured convertible note – in default as of May 1, 2024 $ 0.11 OID Only April 27, 2024 4,245,000 6,513,000 Fair value of embedded conversion options 154,000 910,000 Total convertible notes payable 21,334,000 23,395,000 Less: unamortized debt discounts (750,000 ) (2,179,000 ) Total convertible notes payable, net of financing cost, long term $ 20,584,000 $ 21,216,000 Less: current portion (11,131,000 ) (11,763,000 ) Convertible notes payable, net of financing cost – long-term portion $ 9,453,000 $ 9,453,000 6% Convertible Promissory Notes On March 11, 2024, the Company entered into a note purchase agreement with two institutional investors pursuant to which the investors agreed to acquire, and the Company agreed to issue and sell in a registered direct offering to the investors an aggregate of $ 2.0 6% 1.8 September 12, 2024 0.35 ROI Gain on Extinguishment of Senior Secured Convertible Notes During the three months ended March 31, 2024, ROI converted $ 2.3 0.9 1.4 The contractual maturities of the Company’s convertible notes payable, assuming the exercise of all extensions that are exercisable solely at the Company’s option, as of March 31, 2024 were: Schedule of contractual maturities Year Principal 2024 $ 11,269,000 2025 9,911,000 $ 21,180,000 Significant inputs associated with the embedded conversion options include: Schedule of weighted average assumptions March 31, 2024 December 31, 2023 At Inception Contractual term in years Variable 2.7 1.0 Volatility 75% 82% 111% Dividend yield 0% 0% 0% Risk-free interest rate 4.8% 4.0% 3.5% Activity related to the embedded conversion option derivative liabilities for the three months ended March 31, 2024 was as follows: Schedule of derivative liabilities Balance as of January 1, 2024 $ 910,000 Change in fair value (756,000 ) Ending balance as of March 31, 2024 $ 154,000 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 21. COMMITMENTS AND CONTINGENCIES Contingencies Litigation Matters The Company is involved in litigation arising from other matters in the ordinary course of business. The Company is regularly subject to claims, suits, regulatory and government investigations, and other proceedings involving labor and employment, commercial disputes, and other matters. Such claims, suits, regulatory and government investigations, and other proceedings could result in fines, civil penalties, or other adverse consequences. Certain of these outstanding matters include speculative, substantial or indeterminate monetary amounts. The Company records a liability when it believes that it is probable that a loss has been incurred and the amount can be reasonably estimated. If the Company determines that a loss is reasonably possible and the loss or range of loss can be estimated, the Company discloses the reasonably possible loss. The Company evaluates developments in its legal matters that could affect the amount of liability that has been previously accrued, and the matters and related reasonably possible losses disclosed, and makes adjustments as appropriate. Significant judgment is required to determine both likelihood of there being and the estimated amount of a loss related to such matters. With respect to the Company’s other outstanding matters, based on the Company’s current knowledge, the Company believes that the amount or range of reasonably possible loss will not, either individually or in aggregate, have a material adverse effect on the Company’s business, consolidated financial position, results of operations, or cash flows. However, the outcome of such matters is inherently unpredictable and subject to significant uncertainties. The Company had accrued loss contingencies related to litigation matters $ 2.4 2.3 |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 3 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | 22. STOCKHOLDERS’ EQUITY Reverse Stock Split On January 12, 2024, pursuant to the authorization provided by the Company’s stockholders at the annual meeting of stockholders, the Company’s board of directors approved an amendment to the Certificate of Incorporation to effectuate a reverse stock split of the Company’s issued and outstanding common stock by a ratio of one-for-twenty-five (the “1-for-25 Reverse Split”). The 1-for-25 Reverse Split did not affect the number of authorized shares of common stock, preferred stock or their respective par value per share. As a result of the 1-for-25 Reverse Split, each twenty-five shares of common stock issued and outstanding prior to the 1-for-25 Reverse Split were converted into one share of common stock. The 1-for-25 Reverse Split became effective in the State of Delaware on January 16, 2024. 2023 Issuances Common ATM Offering During the three months ended March 31, 2024, the Company sold an aggregate of 25.6 14.6 Series C Convertible Preferred Stock Offering, Related Party During the three months ended March 31, 2024, the Company sold to Ault & Company an aggregate of 2,000 0.6 2.0 |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 23. INCOME TAXES The Company calculates its interim income tax provision in accordance with ASC Topic 270, Interim Reporting, and ASC Topic 740, Income Taxes. The Company’s effective tax rate (“ETR”) from continuing operations was 0.4% 0.6% 44,000 0.3 21% |
NET INCOME (LOSS) PER SHARE
NET INCOME (LOSS) PER SHARE | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
NET INCOME (LOSS) PER SHARE | 24. NET INCOME (LOSS) PER SHARE The following table presents the calculation of basic and diluted net income (loss) per share: Schedule of basic and diluted net income (loss) per share For the Three Months Ended March 31, 2024 2023 Numerator: Net income (loss) from continuing operations $ 11,762,000 $ (45,606,000 ) Less: net income (loss) attributable to non-controlling interest, continuing operations (6,244,000 ) 183,000 Less: Preferred stock dividends (1,260,000 ) (229,000 ) Numerator for basic EPS - Net income (loss) from continuing operations attributable to Ault Alliance, Inc. 4,258,000 (45,652,000 ) Numerator for basic EPS - Net loss from discontinued operations attributable to Ault Alliance, Inc. (1,801,000 ) (3,223,000 ) Effect of dilutive securities: Interest expense associated with convertible notes, continuing operations 7,000 - Series C Convertible Preferred Stock dividend 992,000 - Numerator for diluted EPS - Net income (loss) from continuing operations attributable to Ault Alliance, Inc., after the effect of dilutive securities 5,257,000 (45,652,000 ) Numerator for diluted EPS - Net loss from discontinued operations attributable to Ault Alliance, Inc. $ (1,801,000 ) $ (3,223,000 ) Denominator: Denominator for basic EPS - Weighted average shares of common stock outstanding 16,116,000 47,000 Effect of dilutive securities: Warrants 6,369,000 - Convertible notes 5,714,000 - Series C Convertible Preferred Stock 8,294,000 - Denominator for diluted EPS - Weighted average shares of common stock outstanding after the effect of dilutive securities 36,493,000 47,000 Basic net income (loss) per share from: Continuing operations $ 0.26 $ (971.32 ) Discontinued operations (0.11 ) (68.57 ) Basic net income (loss) per share $ 0.15 $ (1,039.89 ) Diluted net income (loss) per share from: Continuing operations $ 0.14 $ (971.32 ) Discontinued operations (0.05 ) (68.57 ) Diluted net income (loss) per share $ 0.09 $ (1,039.89 ) For the three ended March 31, 2023, net loss per share is computed by dividing the net loss to common stockholders by the weighted average number of common shares outstanding. The calculation of the basic and diluted earnings per share is the same for the three months ended March 31, 2023, as the effect of the potential common stock equivalents is anti-dilutive due to the Company’s net loss position for the period. Anti-dilutive securities, which are convertible into or exercisable for the Company’s common stock, consist of the following at March 31, 2023: Schedule of net loss per share March 31, 2023 Warrants 2,000 Stock options 1,000 Total 3,000 |
SEGMENT AND CUSTOMERS INFORMATI
SEGMENT AND CUSTOMERS INFORMATION | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
SEGMENT AND CUSTOMERS INFORMATION | 25. SEGMENT AND CUSTOMERS INFORMATION The Company had the following reportable segments as of March 31, 2024 and 2023; see Note 1 for a brief description of the Company’s business. The following data presents the revenues, expenditures and other operating data of the Company and its operating segments for the three months ended March 31, 2024: Schedule of operating segments GIGA TurnOnGreen Fintech Sentinum Ault Disruptive Energy ROI Holding Co. Total Revenue $ 9,573,000 $ 1,225,000 $ - $ 302,000 $ - $ 39,000 $ 28,000 $ 301,000 $ 11,468,000 Revenue, digital assets mining - - - 11,447,000 - - - - 11,447,000 Revenue, lending and trading activities - - 9,099,000 - - - - - 9,099,000 Revenue, crane operations - - - - - 12,918,000 - - 12,918,000 Total revenues $ 9,573,000 $ 1,225,000 $ 9,099,000 $ 11,749,000 $ - $ 12,957,000 $ 28,000 $ 301,000 $ 44,932,000 Depreciation and amortization expense $ 297,000 $ 24,000 $ - $ 4,051,000 $ - $ 1,030,000 $ 18,000 $ 515,000 $ 5,935,000 (Loss) income from operations $ (3,478,000 ) $ (495,000 ) $ 9,008,000 $ 3,369,000 $ (386,000 ) $ 1,188,000 $ (3,662,000 ) $ (5,147,000 ) $ 397,000 Interest expense $ (627,000 ) $ (69,000 ) $ (5,000 ) $ (118,000 ) $ (16,000 ) $ (1,067,000 ) $ (1,601,000 ) $ (1,397,000 ) $ (4,900,000 ) Capital expenditures for the three months ended March 31, 2024 $ 51,000 $ 8,000 $ - $ 293,000 $ - $ 451,000 $ 30,000 $ 49,000 $ 882,000 Segment identifiable assets as of March 31, 2024 $ 31,376,000 $ 4,507,000 $ 27,975,000 $ 55,710,000 $ 936,000 $ 52,214,000 $ 7,692,000 $ 27,495,000 207,905,000 Assets of discontinued operations 91,872,000 Total identifiable assets as of March 31, 2024 $ 299,777,000 Segment information for the three months ended March 31, 2023: GIGA TurnOnGreen Fintech Sentinum Ault Disruptive SMC Energy ROI Holding Co. Total Revenue $ - $ 876,000 $ - $ - $ - $ 3,383,000 $ 25,000 $ - $ - $ 12,992,000 Revenue, digital assets mining - - - 7,347,000 - - - - - 7,347,000 Revenue, commercial real estate leases - - - 458,000 - - 439,000 - - 897,000 Revenue, crane operations - - - - - - 12,646,000 - - 12,646,000 Revenue, lending and trading activities - - (4,939,000 ) - - - - - - (4,939,000 ) Total revenues $ 8,708,000 $ 876,000 $ (4,939,000 ) $ 7,805,000 $ - $ 3,383,000 $ 13,110,000 $ - $ - $ 28,943,000 Depreciation and amortization expense $ 590,000 $ 143,000 $ - $ 3,335,000 $ - $ 371,000 $ 1,070,000 $ 83,000 $ 610,000 $ 6,202,000 Impairment of mined digital assets $ - $ - $ - $ 139,000 $ - $ - $ - $ - $ - $ 139,000 (Loss) income from operations $ (2,672,000 ) $ (980,000 ) $ (6,985,000 ) $ (475,000 ) $ (383,000 ) $ (2,251,000 ) $ 1,970,000 $ (8,056,000 ) $ (10,031,000 ) $ (29,863,000 ) Interest expense $ 221,000 $ 2,000 $ - $ - $ - $ 40,000 $ 194,000 $ 6,000 $ 11,637,000 $ 12,100,000 Capital expenditures for the three months ended March 31, 2023 $ 46,000 $ 10,000 $ - $ 1,052,000 $ - $ 142,000 $ 331,000 $ 407,000 $ 2,320,000 $ 4,308,000 Identifiable assets as of March 31, 2023 $ 37,952,000 $ 6,293,000 $ 27,109,000 $ 73,589,000 $ 119,649,000 $ 21,013,000 $ 95,942,000 $ 12,929,000 $ 34,912,000 429,388,000 Assets of discontinued operations 97,519,000 Total identifiable assets as of March 31, 2023 $ 526,907,000 |
CONCENTRATIONS OF CREDIT AND RE
CONCENTRATIONS OF CREDIT AND REVENUE RISK | 3 Months Ended |
Mar. 31, 2024 | |
Concentrations Of Credit And Revenue Risk | |
CONCENTRATIONS OF CREDIT AND REVENUE RISK | 26. CONCENTRATIONS OF CREDIT AND REVENUE RISK 2024 Concentrations of Credit and Revenue Risk Accounts receivable are concentrated with two large Energy customers in North America that accounted for 14% 11% For the three months ended March 31, 2024, one customer, a mining pool operator in North America, represented 20% 2023 Concentrations of Credit and Revenue Risk Accounts receivable are concentrated with two large customers. At December 31, 2023, one Enertec customer in the Middle East accounted for 14% 11% For the three months ended March 31, 2023, one customer, a mining pool operator in North America, represented 25% |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2024 | |
Subsequent Events | |
SUBSEQUENT EVENTS | 27. SUBSEQUENT EVENTS Additional Closing of Series C Preferred Stock, Related Party On April 17, 2024, the Company sold to Ault & Company 500 0.1 0.5 Amendment to Loan and Guarantee Agreement On May 15, 2024, the loan and guarantee agreement, under which the Company has financial guarantee obligations related to Ault & Company borrowings, was amended to extend the deadline, from May 15, 2024 to July 22, 2024, by which the Company is required to have the minimum balance in the restricted cash account, and the minimum specified balance was increased from $7 million to $7.4 million. |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies Other than as noted below, there have been no material changes to the Company’s significant accounting policies previously disclosed in the 2023 Annual Report. Reclassifications Certain prior period amounts have been reclassified for comparative purposes to conform to the current-period financial statement presentation. These reclassifications had no effect on previously reported results of operations. |
Recently Issued Accounting Standards | Recently Issued Accounting Standards On December 14, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures On November 27, 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures |
ASSETS HELD FOR SALE AND DISC_2
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Assets Held For Sale And Discontinued Operations | |
Schedule of assets and liabilities of agree operations | Schedule of assets and liabilities of agree operations March 31, December 31, 2024 2023 Cash and cash equivalents $ 1,285,000 $ 1,080,000 Restricted cash 859,000 697,000 Accounts receivable 204,000 247,000 Inventories 59,000 50,000 Property and equipment, net - current 89,114,000 88,525,000 Prepaid expenses and other current assets 351,000 392,000 Total current assets 91,872,000 90,991,000 Property and equipment, net - - Total assets 91,872,000 90,991,000 Accounts payable and accrued expenses 2,985,000 3,099,000 Notes payable, current 68,420,000 67,262,000 Total current liabilities 71,405,000 70,361,000 Total liabilities 71,405,000 70,361,000 Net assets of discontinued operations $ 20,467,000 $ 20,630,000 |
Schedule of estimated costs to sell and expected | Schedule of estimated costs to sell and expected For the Three Months Ended March 31, 2024 2023 Revenue, hotel and real estate operations $ 3,006,000 $ 2,243,000 Cost of revenue, hotel operations 2,817,000 2,688,000 Gross profit 189,000 (445,000 ) General and administrative 407,000 1,110,000 Total operating expenses 407,000 1,110,000 Loss from operations (218,000 ) (1,555,000 ) Interest expense (1,583,000 ) (1,668,000 ) Net loss from discontinued operations $ (1,801,000 ) $ (3,223,000 ) |
Schedule of cash flow activity related to discontinued operations | Schedule of cash flow activity related to discontinued operations For the Three Months Ended March 31, 2024 2023 Cash flows from operating activities: Net loss $ (1,801,000 ) $ (3,223,000 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization - 838,000 Amortization of debt discount 101,000 98,000 Changes in operating assets and liabilities: Accounts receivable 43,000 114,000 Inventories (9,000 ) (12,000 ) Prepaid expenses and other current assets 41,000 (32,000 ) Accounts payable and accrued expenses (113,000 ) (429,000 ) Net cash used in operating activities (1,738,000 ) (2,646,000 ) Cash flows from investing activities: Purchase of property and equipment (589,000 ) (2,713,000 ) Net cash used in investing activities (589,000 ) (2,713,000 ) Cash flows from financing activities: Proceeds from notes payable 1,056,000 2,498,000 Cash contributions from parent 1,639,000 81,000 Net cash provided by financing activities 2,695,000 2,579,000 Net increase (decrease) in cash and cash equivalents and restricted cash 368,000 (2,780,000 ) Cash and cash equivalents and restricted cash at beginning of period 1,776,000 5,381,000 Cash and cash equivalents and restricted cash at end of period $ 2,144,000 $ 2,601,000 Supplemental disclosures of cash flow information: Cash paid during the period for interest $ 1,583,000 $ 1,668,000 |
REVENUE DISAGGREGATION (Tables)
REVENUE DISAGGREGATION (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Revenue Disaggregation | |
Schedule of disaggregated revenues | Schedule of disaggregated revenues GIGA TurnOnGreen Fintech Sentinum Energy ROI Holding Company Total Primary Geographical Markets North America $ 2,065,000 $ 1,157,000 $ - $ 11,749,000 $ 12,918,000 $ 28,000 $ 301,000 $ 28,218,000 Europe 2,511,000 4,000 - - 39,000 - - 2,554,000 Middle East and other 4,997,000 64,000 - - - - - 5,061,000 Revenue from contracts with customers 9,573,000 1,225,000 - 11,749,000 12,957,000 28,000 301,000 35,833,000 Revenue, lending and trading activities (North America) - - 9,099,000 - - - - 9,099,000 Total revenue $ 9,573,000 $ 1,225,000 $ 9,099,000 $ 11,749,000 $ 12,957,000 $ 28,000 $ 301,000 $ 44,932,000 Major Goods or Services Radio frequency/microwave filters $ 2,091,000 $ - $ - $ - $ - $ - $ - $ 2,091,000 Power supply units and systems 2,260,000 1,225,000 - - - - - 3,485,000 Healthcare diagnostic systems 531,000 - - - - - - 531,000 Defense systems 4,691,000 - - - - - - 4,691,000 Digital assets mining - - - 11,447,000 - - - 11,447,000 Crane rental - - - - 12,918,000 - - 12,918,000 Other - - - 302,000 39,000 28,000 301,000 670,000 Revenue from contracts with customers 9,573,000 1,225,000 - 11,749,000 12,957,000 28,000 301,000 35,833,000 Revenue, lending and trading activities - - 9,099,000 - - - - 9,099,000 Total revenue $ 9,573,000 $ 1,225,000 $ 9,099,000 $ 11,749,000 $ 12,957,000 $ 28,000 $ 301,000 $ 44,932,000 Timing of Revenue Recognition Goods and services transferred at a point in time $ 4,762,000 $ 10,000 $ - $ 11,749,000 $ 39,000 $ 28,000 $ 301,000 $ 16,889,000 Services transferred over time 4,811,000 1,215,000 - - 12,918,000 - - 18,944,000 Revenue from contracts with customers $ 9,573,000 $ 1,225,000 $ - $ 11,749,000 $ 12,957,000 $ 28,000 $ 301,000 $ 35,833,000 The Company’s disaggregated revenues consisted of the following for the three months ended March 31, 2023 (excludes Ault Disruptive, as that segment has no revenue): GIGA TurnOnGreen Fintech Sentinum The Singing Machine Company, Inc. (“SMC”) Energy Total Primary Geographical Markets North America $ 2,334,000 $ 785,000 $ - $ 7,805,000 $ 3,383,000 $ 13,085,000 $ 27,392,000 Europe 2,441,000 4,000 - - - 25,000 2,470,000 Middle East and other 3,933,000 87,000 - - - - 4,020,000 Revenue from contracts with customers 8,708,000 876,000 - 7,805,000 3,383,000 13,110,000 33,882,000 Revenue, lending and trading activities (North America) - - (4,939,000 ) - - - (4,939,000 ) Total revenue $ 8,708,000 $ 876,000 $ (4,939,000 ) $ 7,805,000 $ 3,383,000 $ 13,110,000 $ 28,943,000 Major Goods or Services Radio frequency/microwave filters $ 1,792,000 $ - $ - $ - $ - $ - $ 1,792,000 Power supply units and systems 3,114,000 876,000 - - - - 3,990,000 Healthcare diagnostic systems 1,137,000 - - - - - 1,137,000 Defense systems 2,665,000 - - - - - 2,665,000 Digital assets mining - - - 7,347,000 - - 7,347,000 Karaoke machines and related consumer goods - - - - 3,383,000 - 3,383,000 Crane rental - - - - - 12,646,000 12,646,000 Other - - - 458,000 - 464,000 922,000 Revenue from contracts with customers 8,708,000 876,000 - 7,805,000 3,383,000 13,110,000 33,882,000 Revenue, lending and trading activities - - (4,939,000 ) - - - (4,939,000 ) Total revenue $ 8,708,000 $ 876,000 $ (4,939,000 ) $ 7,805,000 $ 3,383,000 $ 13,110,000 $ 28,943,000 Timing of Revenue Recognition Goods and services transferred at a point in time $ 5,406,000 $ 873,000 $ - $ 7,805,000 $ 3,383,000 $ 464,000 $ 17,931,000 Services transferred over time 3,302,000 3,000 - - - 12,646,000 15,951,000 Revenue from contracts with customers $ 8,708,000 $ 876,000 $ - $ 7,805,000 $ 3,383,000 $ 13,110,000 $ 33,882,000 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair value, assets measured on recurring basis | Fair value, assets measured on recurring basis Fair Value Measurement at March 31, 2024 Total Level 1 Level 2 Level 3 Assets: Investment in common stock of Alzamend Neuro, Inc. (“Alzamend”) – a related party $ 768,000 $ 768,000 $ - $ - Investments in marketable equity securities 9,426,000 9,426,000 - - Cash and marketable securities held in trust account 794,000 794,000 - - Total assets measured at fair value $ 10,988,000 $ 10,988,000 $ - $ - Liabilities: Warrant and embedded conversion feature liabilities $ 715,000 $ - $ - $ 715,000 Convertible promissory notes 21,180,000 - - 21,180,000 Total liabilities measured at fair value $ 21,895,000 $ - $ - $ 21,895,000 Fair Value Measurement at December 31, 2023 Total Level 1 Level 2 Level 3 Assets: Investment in common stock of Alzamend $ 679,000 $ 679,000 $ - $ - Investments in marketable equity securities 27,000 27,000 - - Cash and marketable securities held in trust account 2,200,000 2,200,000 - - Total assets measured at fair value $ 2,906,000 $ 2,906,000 $ - $ - Liabilities: Warrant and embedded conversion feature liabilities $ 1,742,000 $ - $ - $ 1,742,000 Convertible promissory notes 22,485,000 - - 22,485,000 Total liabilities measured at fair value $ 24,227,000 $ - $ - $ 24,227,000 |
Schedule of changes in fair value hierarchy | Schedule of changes in fair value hierarchy Level 3 Balance at Beginning of Period Fair Value Adjustments Purchases, Sales and Settlements Transfer in and/or out of Level 3 Level 3 Balance at End of Period Three months ended March 31, 2024 Warrant and embedded conversion feature liabilities $ 1,742,000 $ (1,027,000 ) $ - $ - $ 715,000 Convertible promissory notes 22,485,000 - 770,000 (2,075,000 ) 21,180,000 Three months ended March 31, 2023 Warrant and embedded conversion feature liabilities $ 2,967,000 $ (1,311,000 ) $ 1,530,000 $ - $ 3,186,000 Series E, F and G preferred stock liabilities - 8,500,000 - 8,500,000 Convertible promissory notes 10,571,000 - 2,205,000 - 12,776,000 |
Marketable EQUITY Securities (T
Marketable EQUITY Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Marketable Equity Securities | |
Schedule of marketable securities | Schedule of marketable securities Marketable equity securities at March 31, 2024 Gross unrealized Gross unrealized Cost gains losses Fair value Common shares $ 5,581,000 $ 8,910,000 $ (5,065,000 ) $ 9,426,000 Marketable equity securities at December 31, 2023 Gross unrealized Gross unrealized Cost gains losses Fair value Common shares $ 5,119,000 $ 12,000 $ (5,104,000 ) $ 27,000 |
DIGITAL ASSETS (Tables)
DIGITAL ASSETS (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Digital Assets | |
Schedule of revenue from digital assets | Schedule of revenue from digital assets For the Three Months Ended March 31, 2024 2023 Revenue from mined digital assets at Sentinum owned and operated facilities $ 8,862,000 $ 7,347,000 Revenue from Sentinum mining equipment hosted at third-party facilities 2,585,000 - Revenue, digital assets mining $ 11,447,000 $ 7,347,000 |
Schedule of activities of the digital assets | Schedule of activities of the digital assets Digital Assets Balance at January 1, 2024 $ 546,000 Additions of mined digital assets 8,862,000 Payments to vendors (8,000 ) Sale of digital assets (8,634,000 ) Payment of notes payable with digital assets (506,000 ) Payment of interest payable with digital assets (142,000 ) Realized gain on sale of digital assets 738,000 Unrealized gain on digital assets 43,000 Balance at March 31, 2024 $ 899,000 Digital Assets Balance at January 1, 2023 $ 554,000 Additions of mined digital assets 7,347,000 Payments to vendors (139,000 ) Sale of digital assets (7,780,000 ) Realized gain on sale of digital assets 250,000 Balance at March 31, 2023 $ 232,000 |
PROPERTY AND EQUIPMENT, NET (Ta
PROPERTY AND EQUIPMENT, NET (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Schedule of property and equipment March 31, 2024 December 31, 2023 Building, land and improvements $ 16,161,000 $ 15,752,000 Digital assets mining equipment 50,640,000 50,640,000 Crane rental equipment 34,228,000 34,469,000 Computer, software and related equipment 14,885,000 14,335,000 Aircraft 15,983,000 15,983,000 Other property and equipment 8,751,000 8,603,000 140,648,000 139,782,000 Accumulated depreciation and amortization (36,659,000 ) (30,953,000 ) Property and equipment, net $ 103,989,000 $ 108,829,000 |
Schedule of depreciation | Schedule of depreciation For the Three Months Ended March 31, 2024 2023 Depreciation expense $ 5,778,000 $ 5,072,000 |
INTANGIBLE ASSETS, NET (Tables)
INTANGIBLE ASSETS, NET (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of intangible asset | Schedule of intangible asset Useful Life March 31, 2024 December 31, 2023 Definite lived intangible assets: Developed technology 3 8 $ 1,807,000 $ 1,949,000 Customer list 8 10 3,567,000 3,596,000 Trade names 5 10 1,030,000 1,030,000 Domain name and other intangible assets 5 603,000 612,000 7,007,000 7,187,000 Accumulated amortization (1,998,000 ) (1,910,000 ) Total definite-lived intangible assets $ 5,009,000 $ 5,277,000 Indefinite lived intangible assets: Trade name and trademark Indefinite life 473,000 477,000 Total intangible assets, net $ 5,482,000 $ 5,754,000 |
Schedule of estimated amortization expense | Schedule of estimated amortization expense 2024 (remainder) $ 628,000 2025 704,000 2026 704,000 2027 704,000 2028 693,000 2029 473,000 Thereafter 1,103,000 $ 5,009,000 |
GOODWILL (Tables)
GOODWILL (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Disclosure Goodwill Abstract | |
Schedule of goodwill | Schedule of goodwill Goodwill Balance as of January 1, 2024 $ 6,088,000 Effect of exchange rate changes (78,000 ) Balance as of March 31, 2024 $ 6,010,000 |
INVESTMENTS _ RELATED PARTIES (
INVESTMENTS – RELATED PARTIES (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Investments Related Parties | |
Schedule of investment | Schedule of investment Interest Due March 31, December 31, Rate Date 2024 2023 Promissory note, related party 8% Dec. 31, 2024 $ - $ 2,500,000 Accrued interest receivable Ault & Company - 568,000 Other - Alzamend - 900,000 Total investment in promissory notes and other, related parties $ - $ 3,968,000 |
Schedule of Interest income, related party | Schedule of Interest income, related party For the Three Months Ended March 31, 2024 2023 Interest income, related party $ - $ 50,000 |
Schedule of investment in common stock | Schedule of investment in common stock Investments in common stock, related parties at March 31, 2024 Cost Gross unrealized losses Fair value Common shares $ 24,694,000 $ (23,926,000 ) $ 768,000 Investments in common stock, related parties at December 31, 2023 Cost Gross unrealized losses Fair value Common shares $ 24,688,000 $ (24,009,000 ) $ 679,000 |
Schedule of investment in warrants and common stock | Schedule of investment in warrants and common stock For the Three Months Ended March 31, 2024 2023 Balance at January 1 $ 679,000 $ 6,449,000 Investment in common stock of Alzamend 5,000 5,000 Unrealized gain (loss) in common stock of Alzamend 84,000 (1,598,000 ) Balance at March 31 $ 768,000 $ 4,856,000 |
Schedule of investment in warrants and preferred stock | Schedule of investment in warrants and preferred stock March 31, December 31, 2024 2023 Investment in Alzamend preferred stock $ 2,000,000 $ - Total investment in other investments securities, related party $ 2,000,000 $ - |
EQUITY METHOD INVESTMENT (Table
EQUITY METHOD INVESTMENT (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of equity investments in unconsolidated entity – SMC | Schedule of equity investments in unconsolidated entity – SMC Rollforward investment in unconsolidated entity Amount Beginning balance - January 1, 2024 $ 1,957,000 Loss from investment in unconsolidated entity (667,000 ) Ending balance - March 31, 2024 $ 1,290,000 |
Schedule of summarized statements of operations | Schedule of summarized statements of operations For the Three March 31, 2024 Revenue $ 2,426,000 Gross profit $ 502,000 Loss from operations $ (2,287,000 ) Net loss $ (2,368,000 ) |
Schedule of summarized balance sheet information | Schedule of summarized balance sheet information March 31, December 31, 2024 2023 Current assets $ 15,532,000 $ 23,206,000 Non-current assets $ 4,372,000 $ 4,509,000 Current liabilities $ 10,645,000 $ 16,209,000 Non-current liabilities $ 4,029,000 $ 3,928,000 |
ACCOUNTS PAYABLE AND ACCRUED _2
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Payables and Accruals [Abstract] | |
Schedule of other current liabilities | Schedule of other current liabilities March 31, December 31, 2024 2023 Accounts payable $ 25,517,000 $ 32,592,000 Accrued payroll and payroll taxes 10,520,000 9,779,000 Financial instrument liabilities 560,000 832,000 Interest payable 4,534,000 4,197,000 Accrued legal 2,399,000 2,340,000 Contract liabilities 1,820,000 1,621,000 Other accrued expenses 16,409,000 15,082,000 $ 61,759,000 $ 66,443,000 |
REDEEMABLE NONCONTROLLING INT_2
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF SUBSIDIARY LIABILITY (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Redeemable Noncontrolling Interests In Equity Of Subsidiary Liability | |
Redeemable noncontrolling interests in equity of subsidiary liability | Redeemable noncontrolling interests in equity of subsidiary liability Redeemable noncontrolling interests in equity of subsidiaries as of January 1, 2024 $ 2,224,000 Redemption of ADRT common stock (1,463,000 ) Remeasurement of carrying value to redemption value 23,000 Redeemable noncontrolling interests in equity of subsidiaries as of March 31, 2024 $ 784,000 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of notes payable | Schedule of notes payable Collateral Guarantors Interest Due date March 31, 2024 December 31, Circle 8 revolving credit facility Circle 8 cranes with a book value of $30.7 million - 8.4% December 16, 2025 $ 15,467,000 $ 15,907,000 16% promissory note (in default at December 31, 2023) - Ault & Company and Milton C. Ault, III 16.0% June 15, 2024 4,072,000 2,572,000 Circle 8 equipment financing notes Circle 8 equipment with a book value of $3.8 million - 6.6% April 15, 2024 November 15, 2026 4,739,000 5,629,000 8% demand loans - - 8.0% Upon demand - 950,000 Short-term bank credit facilities - - 6.8% Renews monthly 942,000 1,464,000 Sentinum note payable - - 12.5% - - 1,067,000 ROI promissory note (in default as of May 1, 2024) - - 18.0% April 30, 2024 2,094,000 - Other ($0.9 million in default at March 31, 2024) - - - - 2,698,000 3,518,000 Total notes payable $ 30,012,000 $ 31,107,000 Less: Unamortized debt discounts (328,000 ) (83,000 ) Total notes payable, net $ 29,684,000 $ 31,024,000 Less: current portion (12,370,000 ) (12,866,000 ) Notes payable – long-term portion $ 17,314,000 $ 18,158,000 |
Schedule of maturities | Schedule of maturities Year 2024 (remainder) $ 12,370,000 2025 17,241,000 2026 379,000 2027 11,000 2028 11,000 $ 30,012,000 |
Schedule of interest expense | Schedule of interest expense For the Three Months Ended March 31, 2024 2023 Contractual interest expense $ 1,263,000 $ 1,097,000 Forbearance fees 1,500,000 603,000 Amortization of debt discount 2,137,000 10,400,000 Total interest expense $ 4,900,000 $ 12,100,000 |
NOTES PAYABLE, RELATED PARTY (T
NOTES PAYABLE, RELATED PARTY (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Payable Related Party | |
Schedule of notes payable, related party | Schedule of notes payable, related party Interest rate Due date March 31, 2024 December 31, 2023 Notes from officers – Ault Alliance 18% - $ - $ 98,000 Notes from officers - TurnOnGreen 14% Past due 51,000 51,000 Notes from board member - ROI 18% - - 90,000 Ault & Company advances No interest Upon demand 65,000 1,909,000 Advances from officers - GIGA 8% Upon demand 53,000 52,000 Other related party advances No interest Upon demand 124,000 175,000 Total notes payable $ 293,000 $ 2,375,000 |
Schedule of interest expense, related party | Schedule of interest expense, related party For the Three Months Ended March 31, 2024 2023 Interest expense, related party $ 16,000 $ - |
CONVERTIBLE NOTES (Tables)
CONVERTIBLE NOTES (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Convertible Notes | |
Schedule of convertible notes payable | Schedule of convertible notes payable Conversion price per Interest rate Due date March 31, 2024 December 31, 2023 Convertible promissory notes $ 0.35 6% June 12, 2024 $ 2,000,000 $ - Convertible promissory note – original issue discount (“OID”) only 90% of 5-day VWAP OID Only September 28, 2024 643,000 1,673,000 Avalanche International Corp. (“AVLP”) convertible promissory notes, principal $ 0.35 7% August 22, 2025 9,911,000 9,911,000 GIGA senior secured convertible notes - in default $ 0.25 18% October 11, 2024 4,381,000 4,388,000 ROI senior secured convertible note – in default as of May 1, 2024 $ 0.11 OID Only April 27, 2024 4,245,000 6,513,000 Fair value of embedded conversion options 154,000 910,000 Total convertible notes payable 21,334,000 23,395,000 Less: unamortized debt discounts (750,000 ) (2,179,000 ) Total convertible notes payable, net of financing cost, long term $ 20,584,000 $ 21,216,000 Less: current portion (11,131,000 ) (11,763,000 ) Convertible notes payable, net of financing cost – long-term portion $ 9,453,000 $ 9,453,000 |
Schedule of contractual maturities | Schedule of contractual maturities Year Principal 2024 $ 11,269,000 2025 9,911,000 $ 21,180,000 |
Schedule of weighted average assumptions | Schedule of weighted average assumptions March 31, 2024 December 31, 2023 At Inception Contractual term in years Variable 2.7 1.0 Volatility 75% 82% 111% Dividend yield 0% 0% 0% Risk-free interest rate 4.8% 4.0% 3.5% |
Schedule of derivative liabilities | Schedule of derivative liabilities Balance as of January 1, 2024 $ 910,000 Change in fair value (756,000 ) Ending balance as of March 31, 2024 $ 154,000 |
NET INCOME (LOSS) PER SHARE (Ta
NET INCOME (LOSS) PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Schedule of basic and diluted net income (loss) per share | Schedule of basic and diluted net income (loss) per share For the Three Months Ended March 31, 2024 2023 Numerator: Net income (loss) from continuing operations $ 11,762,000 $ (45,606,000 ) Less: net income (loss) attributable to non-controlling interest, continuing operations (6,244,000 ) 183,000 Less: Preferred stock dividends (1,260,000 ) (229,000 ) Numerator for basic EPS - Net income (loss) from continuing operations attributable to Ault Alliance, Inc. 4,258,000 (45,652,000 ) Numerator for basic EPS - Net loss from discontinued operations attributable to Ault Alliance, Inc. (1,801,000 ) (3,223,000 ) Effect of dilutive securities: Interest expense associated with convertible notes, continuing operations 7,000 - Series C Convertible Preferred Stock dividend 992,000 - Numerator for diluted EPS - Net income (loss) from continuing operations attributable to Ault Alliance, Inc., after the effect of dilutive securities 5,257,000 (45,652,000 ) Numerator for diluted EPS - Net loss from discontinued operations attributable to Ault Alliance, Inc. $ (1,801,000 ) $ (3,223,000 ) Denominator: Denominator for basic EPS - Weighted average shares of common stock outstanding 16,116,000 47,000 Effect of dilutive securities: Warrants 6,369,000 - Convertible notes 5,714,000 - Series C Convertible Preferred Stock 8,294,000 - Denominator for diluted EPS - Weighted average shares of common stock outstanding after the effect of dilutive securities 36,493,000 47,000 Basic net income (loss) per share from: Continuing operations $ 0.26 $ (971.32 ) Discontinued operations (0.11 ) (68.57 ) Basic net income (loss) per share $ 0.15 $ (1,039.89 ) Diluted net income (loss) per share from: Continuing operations $ 0.14 $ (971.32 ) Discontinued operations (0.05 ) (68.57 ) Diluted net income (loss) per share $ 0.09 $ (1,039.89 ) |
Schedule of net loss per share | Schedule of net loss per share March 31, 2023 Warrants 2,000 Stock options 1,000 Total 3,000 |
SEGMENT AND CUSTOMERS INFORMA_2
SEGMENT AND CUSTOMERS INFORMATION (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Schedule of operating segments | Schedule of operating segments GIGA TurnOnGreen Fintech Sentinum Ault Disruptive Energy ROI Holding Co. Total Revenue $ 9,573,000 $ 1,225,000 $ - $ 302,000 $ - $ 39,000 $ 28,000 $ 301,000 $ 11,468,000 Revenue, digital assets mining - - - 11,447,000 - - - - 11,447,000 Revenue, lending and trading activities - - 9,099,000 - - - - - 9,099,000 Revenue, crane operations - - - - - 12,918,000 - - 12,918,000 Total revenues $ 9,573,000 $ 1,225,000 $ 9,099,000 $ 11,749,000 $ - $ 12,957,000 $ 28,000 $ 301,000 $ 44,932,000 Depreciation and amortization expense $ 297,000 $ 24,000 $ - $ 4,051,000 $ - $ 1,030,000 $ 18,000 $ 515,000 $ 5,935,000 (Loss) income from operations $ (3,478,000 ) $ (495,000 ) $ 9,008,000 $ 3,369,000 $ (386,000 ) $ 1,188,000 $ (3,662,000 ) $ (5,147,000 ) $ 397,000 Interest expense $ (627,000 ) $ (69,000 ) $ (5,000 ) $ (118,000 ) $ (16,000 ) $ (1,067,000 ) $ (1,601,000 ) $ (1,397,000 ) $ (4,900,000 ) Capital expenditures for the three months ended March 31, 2024 $ 51,000 $ 8,000 $ - $ 293,000 $ - $ 451,000 $ 30,000 $ 49,000 $ 882,000 Segment identifiable assets as of March 31, 2024 $ 31,376,000 $ 4,507,000 $ 27,975,000 $ 55,710,000 $ 936,000 $ 52,214,000 $ 7,692,000 $ 27,495,000 207,905,000 Assets of discontinued operations 91,872,000 Total identifiable assets as of March 31, 2024 $ 299,777,000 Segment information for the three months ended March 31, 2023: GIGA TurnOnGreen Fintech Sentinum Ault Disruptive SMC Energy ROI Holding Co. Total Revenue $ - $ 876,000 $ - $ - $ - $ 3,383,000 $ 25,000 $ - $ - $ 12,992,000 Revenue, digital assets mining - - - 7,347,000 - - - - - 7,347,000 Revenue, commercial real estate leases - - - 458,000 - - 439,000 - - 897,000 Revenue, crane operations - - - - - - 12,646,000 - - 12,646,000 Revenue, lending and trading activities - - (4,939,000 ) - - - - - - (4,939,000 ) Total revenues $ 8,708,000 $ 876,000 $ (4,939,000 ) $ 7,805,000 $ - $ 3,383,000 $ 13,110,000 $ - $ - $ 28,943,000 Depreciation and amortization expense $ 590,000 $ 143,000 $ - $ 3,335,000 $ - $ 371,000 $ 1,070,000 $ 83,000 $ 610,000 $ 6,202,000 Impairment of mined digital assets $ - $ - $ - $ 139,000 $ - $ - $ - $ - $ - $ 139,000 (Loss) income from operations $ (2,672,000 ) $ (980,000 ) $ (6,985,000 ) $ (475,000 ) $ (383,000 ) $ (2,251,000 ) $ 1,970,000 $ (8,056,000 ) $ (10,031,000 ) $ (29,863,000 ) Interest expense $ 221,000 $ 2,000 $ - $ - $ - $ 40,000 $ 194,000 $ 6,000 $ 11,637,000 $ 12,100,000 Capital expenditures for the three months ended March 31, 2023 $ 46,000 $ 10,000 $ - $ 1,052,000 $ - $ 142,000 $ 331,000 $ 407,000 $ 2,320,000 $ 4,308,000 Identifiable assets as of March 31, 2023 $ 37,952,000 $ 6,293,000 $ 27,109,000 $ 73,589,000 $ 119,649,000 $ 21,013,000 $ 95,942,000 $ 12,929,000 $ 34,912,000 429,388,000 Assets of discontinued operations 97,519,000 Total identifiable assets as of March 31, 2023 $ 526,907,000 |
LIQUIDITY AND FINANCIAL CONDI_2
LIQUIDITY AND FINANCIAL CONDITION (Details Narrative) | Jun. 30, 2022 USD ($) |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Cash and cash equivalents | $ 9,400,000 |
Working capital | $ 53,500,000 |
ASSETS HELD FOR SALE AND DISC_3
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Subsidiary, Sale of Stock [Line Items] | ||
Cash and cash equivalents | $ 9,430,000 | $ 8,626,000 |
Restricted cash | 5,463,000 | 4,966,000 |
Accounts receivable | 11,579,000 | 10,839,000 |
Inventories | 7,599,000 | 8,384,000 |
Property and equipment, net - current | 140,648,000 | 139,782,000 |
Prepaid expenses and other current assets | 8,035,000 | 9,450,000 |
Total current assets | 144,768,000 | 138,485,000 |
Property and equipment, net | 103,989,000 | 108,829,000 |
Total assets | 299,777,000 | 299,190,000 |
Accounts payable and accrued expenses | 61,759,000 | 66,443,000 |
Notes payable, current | 12,370,000 | 12,866,000 |
Total current liabilities | 198,243,000 | 204,827,000 |
Total liabilities | 233,974,000 | 240,290,000 |
A G R E E [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Cash and cash equivalents | 1,285,000 | 1,080,000 |
Restricted cash | 859,000 | 697,000 |
Accounts receivable | 204,000 | 247,000 |
Inventories | 59,000 | 50,000 |
Property and equipment, net - current | 89,114,000 | 88,525,000 |
Prepaid expenses and other current assets | 351,000 | 392,000 |
Total current assets | 91,872,000 | 90,991,000 |
Property and equipment, net | ||
Total assets | 91,872,000 | 90,991,000 |
Accounts payable and accrued expenses | 2,985,000 | 3,099,000 |
Notes payable, current | 68,420,000 | 67,262,000 |
Total current liabilities | 71,405,000 | 70,361,000 |
Total liabilities | 71,405,000 | 70,361,000 |
Net assets of discontinued operations | $ 20,467,000 | $ 20,630,000 |
ASSETS HELD FOR SALE AND DISC_4
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Details 1) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Subsidiary, Sale of Stock [Line Items] | ||
Cost of revenue, hotel operations | $ 25,423,000 | $ 26,458,000 |
Gross profit | 19,509,000 | 2,485,000 |
General and administrative | 13,380,000 | 21,571,000 |
Total operating expenses | 19,112,000 | 32,348,000 |
Loss from operations | 397,000 | (29,863,000) |
Interest expense | (4,900,000) | (12,100,000) |
Net loss from discontinued operations | (1,801,000) | (3,223,000) |
A G R E E [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Revenue, hotel and real estate operations | 3,006,000 | 2,243,000 |
Cost of revenue, hotel operations | 2,817,000 | 2,688,000 |
Gross profit | 189,000 | (445,000) |
General and administrative | 407,000 | 1,110,000 |
Total operating expenses | 407,000 | 1,110,000 |
Loss from operations | (218,000) | (1,555,000) |
Interest expense | 1,583,000 | 1,668,000 |
Net loss from discontinued operations | $ (1,801,000) | $ (3,223,000) |
ASSETS HELD FOR SALE AND DISC_5
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Details 2) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ 3,717,000 | $ (48,645,000) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Amortization of debt discount | 3,653,000 | 10,302,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (995,000) | 5,030,000 |
Inventories | 775,000 | 1,936,000 |
Prepaid expenses and other current assets | 1,041,000 | (687,000) |
Accounts payable and accrued expenses | (4,385,000) | (3,801,000) |
Net cash used in operating activities | (10,216,000) | 7,703,000 |
Cash flows from investing activities: | ||
Purchase of property and equipment | (882,000) | (4,308,000) |
Net cash used in investing activities | (1,730,000) | (2,767,000) |
Cash flows from financing activities: | ||
Proceeds from notes payable | 2,311,000 | 2,500,000 |
Net cash provided by financing activities | 13,041,000 | (8,097,000) |
A G R E E [Member] | ||
Cash flows from operating activities: | ||
Net loss | (1,801,000) | (3,223,000) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 838,000 | |
Amortization of debt discount | 101,000 | 98,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (43,000) | (114,000) |
Inventories | 9,000 | 12,000 |
Prepaid expenses and other current assets | (41,000) | 32,000 |
Accounts payable and accrued expenses | (113,000) | (429,000) |
Net cash used in operating activities | (1,738,000) | (2,646,000) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (589,000) | (2,713,000) |
Net cash used in investing activities | (589,000) | (2,713,000) |
Cash flows from financing activities: | ||
Proceeds from notes payable | 1,056,000 | 2,498,000 |
Cash contributions from parent | 1,639,000 | 81,000 |
Net cash provided by financing activities | 2,695,000 | 2,579,000 |
Net increase (decrease) in cash and cash equivalents and restricted cash | 368,000 | (2,780,000) |
Cash and cash equivalents and restricted cash at beginning of period | 1,776,000 | 5,381,000 |
Cash and cash equivalents and restricted cash at end of period | 2,144,000 | 2,601,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for interest | $ 1,583,000 | $ 1,668,000 |
REVENUE DISAGGREGATION (Details
REVENUE DISAGGREGATION (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Total revenue | $ 44,932,000 | $ 28,943,000 |
Transferred at Point in Time [Member] | ||
Total revenue | 16,889,000 | 17,931,000 |
Revenue From Contracts With Customer [Member] | ||
Total revenue | 35,833,000 | 33,882,000 |
Radio Frequency Microwave Filters [Member] | ||
Total revenue | 2,091,000 | 1,792,000 |
Power Supply Units And Systems [Member] | ||
Total revenue | 3,485,000 | 3,990,000 |
Healthcare Diagnostic Systems [Member] | ||
Total revenue | 531,000 | 1,137,000 |
Defense Systems [Member] | ||
Total revenue | 4,691,000 | 2,665,000 |
Digital Assets Mining [Member] | ||
Total revenue | 11,447,000 | 7,347,000 |
Crane Rental [Member] | ||
Total revenue | 12,918,000 | 12,646,000 |
Other [Member] | ||
Total revenue | 670,000 | 922,000 |
Revenues From Contract With Customer [Member] | ||
Total revenue | 35,833,000 | 33,882,000 |
Revenue Lending And Trading Activities [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Total [Member] | ||
Total revenue | 44,932,000 | 28,943,000 |
Transferred over Time [Member] | ||
Total revenue | 18,944,000 | 15,951,000 |
Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | 3,383,000 | |
Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 35,833,000 | 33,882,000 |
North America [Member] | ||
Total revenue | 28,218,000 | 27,392,000 |
North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Europe [Member] | ||
Total revenue | 2,554,000 | 2,470,000 |
Middle East [Member] | ||
Total revenue | 5,061,000 | 4,020,000 |
GIGA [Member] | ||
Total revenue | 9,573,000 | 8,708,000 |
GIGA [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 4,762,000 | 5,406,000 |
GIGA [Member] | Transferred over Time [Member] | ||
Total revenue | 4,811,000 | 3,302,000 |
GIGA [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 9,573,000 | 8,708,000 |
GIGA [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | 2,091,000 | 1,792,000 |
GIGA [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | 2,260,000 | 3,114,000 |
GIGA [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | 531,000 | 1,137,000 |
GIGA [Member] | Defense Systems [Member] | ||
Total revenue | 4,691,000 | 2,665,000 |
GIGA [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
GIGA [Member] | Crane Rental [Member] | ||
Total revenue | ||
GIGA [Member] | Other [Member] | ||
Total revenue | ||
GIGA [Member] | Revenuefromcontractswithcustomers [Member] | ||
Total revenue | 9,573,000 | 8,708,000 |
GIGA [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
GIGA [Member] | Total [Member] | ||
Total revenue | 9,573,000 | 8,708,000 |
GIGA [Member] | Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | ||
GIGA [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 9,573,000 | 8,708,000 |
GIGA [Member] | North America [Member] | ||
Total revenue | 2,065,000 | 2,334,000 |
GIGA [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
GIGA [Member] | Europe [Member] | ||
Total revenue | 2,511,000 | 2,441,000 |
GIGA [Member] | Middle East [Member] | ||
Total revenue | 4,997,000 | 3,933,000 |
Turn On Green [Member] | ||
Total revenue | 1,225,000 | 876,000 |
Turn On Green [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 10,000 | 873,000 |
Turn On Green [Member] | Transferred over Time [Member] | ||
Total revenue | 1,215,000 | 3,000 |
Turn On Green [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 1,225,000 | 876,000 |
Turn On Green [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
Turn On Green [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | 1,225,000 | 876,000 |
Turn On Green [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
Turn On Green [Member] | Defense Systems [Member] | ||
Total revenue | ||
Turn On Green [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
Turn On Green [Member] | Crane Rental [Member] | ||
Total revenue | ||
Turn On Green [Member] | Other [Member] | ||
Total revenue | ||
Turn On Green [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | 1,225,000 | 876,000 |
Turn On Green [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Turn On Green [Member] | Total [Member] | ||
Total revenue | 1,225,000 | 876,000 |
Turn On Green [Member] | Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | ||
Turn On Green [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 1,225,000 | 876,000 |
Turn On Green [Member] | North America [Member] | ||
Total revenue | 1,157,000 | 785,000 |
Turn On Green [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Turn On Green [Member] | Europe [Member] | ||
Total revenue | 4,000 | 4,000 |
Turn On Green [Member] | Middle East [Member] | ||
Total revenue | 64,000 | 87,000 |
Fintech [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Fintech [Member] | Transferred at Point in Time [Member] | ||
Total revenue | ||
Fintech [Member] | Transferred over Time [Member] | ||
Total revenue | ||
Fintech [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | ||
Fintech [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
Fintech [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | ||
Fintech [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
Fintech [Member] | Defense Systems [Member] | ||
Total revenue | ||
Fintech [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
Fintech [Member] | Crane Rental [Member] | ||
Total revenue | ||
Fintech [Member] | Other [Member] | ||
Total revenue | ||
Fintech [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | ||
Fintech [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Fintech [Member] | Total [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Fintech [Member] | Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | ||
Fintech [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | ||
Fintech [Member] | North America [Member] | ||
Total revenue | ||
Fintech [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | 9,099,000 | (4,939,000) |
Fintech [Member] | Europe [Member] | ||
Total revenue | ||
Fintech [Member] | Middle East [Member] | ||
Total revenue | ||
Sentinum [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
Sentinum [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | ||
Sentinum [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
Sentinum [Member] | Defense Systems [Member] | ||
Total revenue | ||
Sentinum [Member] | Digital Assets Mining [Member] | ||
Total revenue | 11,447,000 | 7,347,000 |
Sentinum [Member] | Crane Rental [Member] | ||
Total revenue | ||
Sentinum [Member] | Other [Member] | ||
Total revenue | 302,000 | 458,000 |
Sentinum [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Sentinum [Member] | Total [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | Transferred over Time [Member] | ||
Total revenue | ||
Sentinum [Member] | Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | ||
Sentinum [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | North America [Member] | ||
Total revenue | 11,749,000 | 7,805,000 |
Sentinum [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Sentinum [Member] | Europe [Member] | ||
Total revenue | ||
Sentinum [Member] | Middle East [Member] | ||
Total revenue | ||
Energy [Member] | ||
Total revenue | 12,957,000 | 13,110,000 |
Energy [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 39,000 | 464,000 |
Energy [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 12,957,000 | 13,110,000 |
Energy [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
Energy [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | ||
Energy [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
Energy [Member] | Defense Systems [Member] | ||
Total revenue | ||
Energy [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
Energy [Member] | Crane Rental [Member] | ||
Total revenue | 12,918,000 | 12,646,000 |
Energy [Member] | Other [Member] | ||
Total revenue | 39,000 | 464,000 |
Energy [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | 12,957,000 | 13,110,000 |
Energy [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Energy [Member] | Total [Member] | ||
Total revenue | 12,957,000 | 13,110,000 |
Energy [Member] | Transferred over Time [Member] | ||
Total revenue | 12,918,000 | 12,646,000 |
Energy [Member] | Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | ||
Energy [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 12,957,000 | 13,110,000 |
Energy [Member] | North America [Member] | ||
Total revenue | 12,918,000 | 13,085,000 |
Energy [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Energy [Member] | Europe [Member] | ||
Total revenue | 39,000 | 25,000 |
Energy [Member] | Middle East [Member] | ||
Total revenue | ||
ROI [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
ROI [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | ||
ROI [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
ROI [Member] | Defense Systems [Member] | ||
Total revenue | ||
ROI [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
ROI [Member] | Crane Rental [Member] | ||
Total revenue | ||
ROI [Member] | Other [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
ROI [Member] | Total [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | Transferred over Time [Member] | ||
Total revenue | ||
ROI [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | North America [Member] | ||
Total revenue | 28,000 | |
ROI [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
ROI [Member] | Europe [Member] | ||
Total revenue | ||
ROI [Member] | Middle East [Member] | ||
Total revenue | ||
Holding Company [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
Holding Company [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | ||
Holding Company [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
Holding Company [Member] | Defense Systems [Member] | ||
Total revenue | ||
Holding Company [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
Holding Company [Member] | Crane Rental [Member] | ||
Total revenue | ||
Holding Company [Member] | Other [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Holding Company [Member] | Total [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | Transferred over Time [Member] | ||
Total revenue | ||
Holding Company [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | North America [Member] | ||
Total revenue | 301,000 | |
Holding Company [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
Holding Company [Member] | Europe [Member] | ||
Total revenue | ||
Holding Company [Member] | Middle East [Member] | ||
Total revenue | ||
SMC [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | Transferred at Point in Time [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | Revenue From Contracts With Customer [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | Radio Frequency Microwave Filters [Member] | ||
Total revenue | ||
SMC [Member] | Power Supply Units And Systems [Member] | ||
Total revenue | ||
SMC [Member] | Healthcare Diagnostic Systems [Member] | ||
Total revenue | ||
SMC [Member] | Defense Systems [Member] | ||
Total revenue | ||
SMC [Member] | Digital Assets Mining [Member] | ||
Total revenue | ||
SMC [Member] | Crane Rental [Member] | ||
Total revenue | ||
SMC [Member] | Other [Member] | ||
Total revenue | ||
SMC [Member] | Revenues From Contract With Customer [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
SMC [Member] | Total [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | Transferred over Time [Member] | ||
Total revenue | ||
SMC [Member] | Karaoke Machines And Rleated Consumer Goods [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | North America [Member] | ||
Total revenue | 3,383,000 | |
SMC [Member] | North America [Member] | Revenue Lending And Trading Activities [Member] | ||
Total revenue | ||
SMC [Member] | Europe [Member] | ||
Total revenue | ||
SMC [Member] | Middle East [Member] | ||
Total revenue |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Inputs, Level 3 [Member] | Warrant And Embedded Conversion Feature Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | $ 715,000 | $ 1,742,000 | $ 3,186,000 | $ 2,967,000 |
Fair Value, Inputs, Level 3 [Member] | Convertible promissory notes [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | 21,180,000 | 22,485,000 | $ 12,776,000 | $ 10,571,000 |
Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 10,988,000 | 2,906,000 | ||
Total liabilities measured at fair value | 21,895,000 | 24,227,000 | ||
Fair Value, Recurring [Member] | Warrant And Embedded Conversion Feature Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | 715,000 | 1,742,000 | ||
Fair Value, Recurring [Member] | Convertible promissory notes [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | 21,180,000 | 22,485,000 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 10,988,000 | 2,906,000 | ||
Total liabilities measured at fair value | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Warrant And Embedded Conversion Feature Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Convertible promissory notes [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Total liabilities measured at fair value | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Warrant And Embedded Conversion Feature Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Convertible promissory notes [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Total liabilities measured at fair value | 21,895,000 | 24,227,000 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant And Embedded Conversion Feature Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | 715,000 | 1,742,000 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Convertible promissory notes [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total liabilities measured at fair value | 21,180,000 | 22,485,000 | ||
Alzamend Neuro Inc [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 768,000 | 679,000 | ||
Alzamend Neuro Inc [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 768,000 | 679,000 | ||
Alzamend Neuro Inc [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Alzamend Neuro Inc [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Marketable Equity Securities [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 9,426,000 | 27,000 | ||
Marketable Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 9,426,000 | 27,000 | ||
Marketable Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Marketable Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Cash And Marketable Securities Held In Trust [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 794,000 | 2,200,000 | ||
Cash And Marketable Securities Held In Trust [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | 794,000 | 2,200,000 | ||
Cash And Marketable Securities Held In Trust [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value | ||||
Cash And Marketable Securities Held In Trust [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total assets measured at fair value |
FAIR VALUE OF FINANCIAL INSTR_4
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) - Fair Value, Inputs, Level 3 [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Warrant And Embedded Conversion Feature Liabilities [Member] | ||
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items] | ||
Balance at beginning of period | $ 1,742,000 | $ 2,967,000 |
Fair Value Adjustments | (1,027,000) | (1,311,000) |
Purchases, Sales and Settlements | 1,530,000 | |
Transfer in and/or out of Level 3 | ||
Balance at end of period | 715,000 | 3,186,000 |
Convertible promissory notes [Member] | ||
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items] | ||
Balance at beginning of period | 22,485,000 | 10,571,000 |
Fair Value Adjustments | ||
Purchases, Sales and Settlements | 770,000 | 2,205,000 |
Transfer in and/or out of Level 3 | (2,075,000) | |
Balance at end of period | $ 21,180,000 | 12,776,000 |
Series E, F and G preferred stock liabilities [Member] | ||
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items] | ||
Fair Value Adjustments | ||
Purchases, Sales and Settlements | 8,500,000 | |
Transfer in and/or out of Level 3 | ||
Balance at end of period | $ 8,500,000 |
FAIR VALUE OF FINANCIAL INSTR_5
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | |||
Equity investments in other securities | $ 20,600,000 | $ 21,800,000 | |
Equity method investment, other than temporary impairment | 0 | $ 11,600,000 | |
Prior year adjustments | $ 9,600,000 |
MARKETABLE EQUITY SECURITIES (D
MARKETABLE EQUITY SECURITIES (Details) - Common Stock [Member] - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Schedule of Investments [Line Items] | ||
Cost | $ 5,581,000 | $ 5,119,000 |
Gross unrealized gains | 8,910,000 | 12,000 |
Gross unrealized losses | (5,065,000) | (5,104,000) |
Fair value | $ 9,426,000 | $ 27,000 |
DIGITAL ASSETS (Details)
DIGITAL ASSETS (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Digital Assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Revenues | $ 8,862,000 | $ 7,347,000 |
Sentinum Mining Equipment Hosted At Third Party Facilities [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Revenues | 2,585,000 | |
Mined Digital Assets At Sentinum Owned And Operated Facilities [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Revenues | $ 11,447,000 | $ 7,347,000 |
DIGITAL ASSETS (Details 1)
DIGITAL ASSETS (Details 1) - Digital Assets [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Property, Plant and Equipment [Line Items] | ||
Beginning balance | $ 546,000 | $ 554,000 |
Additions of mined digital assets | 8,862,000 | 7,347,000 |
Sale of digital assets | (8,000) | (139,000) |
Sale of digital assets | (8,634,000) | (7,780,000) |
Payment of notes payable with digital assets | (506,000) | |
Payment of interest payable with digital assets | (142,000) | |
Realized gain on sale of digital assets | 738,000 | 250,000 |
Unrealized gain on digital assets | 43,000 | |
Ending balance | $ 899,000 | $ 232,000 |
PROPERTY AND EQUIPMENT, NET (De
PROPERTY AND EQUIPMENT, NET (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 140,648,000 | $ 139,782,000 |
Accumulated depreciation and amortization | (36,659,000) | (30,953,000) |
Property, Plant and Equipment, Net | 103,989,000 | 108,829,000 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 16,161,000 | 15,752,000 |
Digital Assets Mining Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 50,640,000 | 50,640,000 |
Crane Rental Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 34,228,000 | 34,469,000 |
Computer Software, Intangible Asset [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 14,885,000 | 14,335,000 |
Aircraft [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 15,983,000 | 15,983,000 |
Other Property And Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 8,751,000 | $ 8,603,000 |
PROPERTY AND EQUIPMENT, NET (_2
PROPERTY AND EQUIPMENT, NET (Details 1) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 5,778,000 | $ 5,072,000 |
INTANGIBLE ASSETS, NET (Details
INTANGIBLE ASSETS, NET (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Indefinite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 7,007,000 | $ 7,187,000 |
Accumulated amortization | (1,998,000) | (1,910,000) |
Total definite-lived intangible assets | 5,009,000 | 5,277,000 |
Intangible assets, net | 5,482,000 | 5,754,000 |
Developed Technology [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 1,807,000 | 1,949,000 |
Developed Technology [Member] | Minimum [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 3 years | |
Developed Technology [Member] | Maximum [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 8 years | |
Customer Lists [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 3,567,000 | 3,596,000 |
Customer Lists [Member] | Minimum [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 8 years | |
Customer Lists [Member] | Maximum [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 10 years | |
Trade Names [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 1,030,000 | 1,030,000 |
Trade Names [Member] | Minimum [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 5 years | |
Trade Names [Member] | Maximum [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 10 years | |
Domain Name And Other Intangible Assets [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Useful Life | 5 years | |
Intangible assets, gross | $ 603,000 | 612,000 |
Trademarks and Trade Names [Member] | ||
Indefinite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 473,000 | $ 477,000 |
INTANGIBLE ASSETS, NET (Detai_2
INTANGIBLE ASSETS, NET (Details 2) | Mar. 31, 2024 USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2024 (remainder) | $ 628,000 |
2025 | 704,000 |
2026 | 704,000 |
2027 | 704,000 |
2028 | 693,000 |
2028 | 473,000 |
Thereafter | 1,103,000 |
Finite-Lived Intangible Assets, Net | $ 5,009,000 |
INTANGIBLE ASSETS, NET (Detai_3
INTANGIBLE ASSETS, NET (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization expense | $ 157,000 | $ 253,000 |
Estimated useful lives description | intangible assets subject to amortization have an average remaining useful life of 9.5 years. |
GOODWILL (Details)
GOODWILL (Details) | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Disclosure Goodwill Abstract | |
Beginning Balance | $ 6,088,000 |
Effect of exchange rate changes | (78,000) |
Ending Balance | $ 6,010,000 |
INVESTMENTS - RELATED PARTIES (
INVESTMENTS - RELATED PARTIES (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Investments Related Parties | ||
Interest Rate | 8% | |
Due date | Dec. 31, 2024 | |
Investment in promissory note of Ault & Company | $ 2,500,000 | |
Accrued interest receivable Ault & Company | 568,000 | |
Other - Alzamend | 900,000 | |
Total investment in promissory notes and other, related parties | $ 3,968,000 |
INVESTMENTS - RELATED PARTIES_2
INVESTMENTS - RELATED PARTIES (Details 1) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Investments Related Parties | ||
Interest income, related party | $ 50,000 |
INVESTMENTS - RELATED PARTIES_3
INVESTMENTS - RELATED PARTIES (Details 2) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Fair value | $ 9,400,000 | |
Common Stock [Member] | ||
Cost | 24,694,000 | $ 24,688,000 |
Gross unrealized losses | (23,926,000) | (24,009,000) |
Fair value | $ 768,000 | $ 679,000 |
INVESTMENTS - RELATED PARTIES_4
INVESTMENTS - RELATED PARTIES (Details 3) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Investments Related Parties | ||
Beginning Balance | $ 679,000 | $ 6,449,000 |
Investment in common stock of Alzamend | 5,000 | 5,000 |
Unrealized loss in common stock of Alzamend | 84,000 | (1,598,000) |
Ending Balance | $ 768,000 | $ 4,856,000 |
INVESTMENTS - RELATED PARTIES_5
INVESTMENTS - RELATED PARTIES (Details 4) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Investments Related Parties | ||
Investment in Alzamend preferred stock | $ 2,000,000 | |
Total investment in other investments securities, related party | $ 2,000,000 |
INVESTMENTS _ RELATED PARTIES_2
INVESTMENTS – RELATED PARTIES (Details Narrative) | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Messrs Ault [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Related party payment | $ 50,000 |
Nisser [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Related party payment | $ 50,000 |
EQUITY METHOD INVESTMENTS (Deta
EQUITY METHOD INVESTMENTS (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Restructuring Cost and Reserve [Line Items] | ||
Loss from investment in unconsolidated entity | $ (667,000) | |
SMC Acquisition [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Beginning balance | 1,957,000 | |
Loss from investment in unconsolidated entity | (667,000) | |
Ending balance | $ 1,290,000 |
EQUITY METHOD INVESTMENTS (De_2
EQUITY METHOD INVESTMENTS (Details 1) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Restructuring Cost and Reserve [Line Items] | ||
Gross profit | $ 19,509,000 | $ 2,485,000 |
Loss from operations | 11,762,000 | (45,606,000) |
Net loss | 3,717,000 | $ (48,645,000) |
SMC [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Revenue | 2,426,000 | |
Gross profit | 502,000 | |
Loss from operations | (2,287,000) | |
Net loss | $ (2,368,000) |
EQUITY METHOD INVESTMENTS (De_3
EQUITY METHOD INVESTMENTS (Details 2) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Restructuring Cost and Reserve [Line Items] | ||
Current assets | $ 144,768,000 | $ 138,485,000 |
Current liabilities | 198,243,000 | 204,827,000 |
SMC [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Current assets | 15,532,000 | 23,206,000 |
Non-current assets | 4,372,000 | 4,509,000 |
Current liabilities | 10,645,000 | 16,209,000 |
Non-current liabilities | $ 4,029,000 | $ 3,928,000 |
ACCOUNTS PAYABLE AND ACCRUED _3
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 25,517,000 | $ 32,592,000 |
Accrued payroll and payroll taxes | 10,520,000 | 9,779,000 |
Financial instrument liabilities | 560,000 | 832,000 |
Interest payable | 4,534,000 | 4,197,000 |
Accrued legal | 2,399,000 | 2,340,000 |
Contract liabilities | 1,820,000 | 1,621,000 |
Other accrued expenses | 16,409,000 | 15,082,000 |
Total | $ 61,759,000 | $ 66,443,000 |
DIVIDEND PAYABLE IN TURNONGRE_2
DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK (Details Narrative) | 3 Months Ended |
Mar. 31, 2024 USD ($) shares | |
Dividend Payable In Turnongreen Common Stock | |
Dividend payable shares | 25,000,000 |
Shares purchased | 25,000,000 |
Non-controlling interest | $ | $ 4,900,000 |
ROI TRANSFERS OF WHITE RIVER _2
ROI TRANSFERS OF WHITE RIVER COMMON STOCK (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended |
Feb. 14, 2024 | Mar. 31, 2024 | |
Roi Transfers Of White River Common Stock | ||
Ault lending transfer description | ROI transferred 2.5 million shares of White River common stock with a carryover basis of $0.5 million at the date of transfer to Ault Lending. | |
Shares held in employee trust, shares | 2,500,000 | |
Investment owned, fair value | $ 9,400,000 | |
Unrealized gain | $ 8,900,000 |
REDEEMABLE NONCONTROLLING INT_3
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF SUBSIDIARY LIABILITY (Details) | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Redeemable Noncontrolling Interests In Equity Of Subsidiary Liability | |
Redeemable noncontrolling interests at beginning | $ 2,224,000 |
Redemption of ADRT common stock | (1,463,000) |
Remeasurement of carrying value to redemption value | 23,000 |
Redeemable noncontrolling interests at ending | $ 784,000 |
REDEEMABLE NONCONTROLLING INT_4
REDEEMABLE NONCONTROLLING INTERESTS IN EQUITY OF SUBSIDIARY LIABILITY (Details Narrative) | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Redeemable Noncontrolling Interests In Equity Of Subsidiary Liability | |
Redeemable noncontrolling interests in equity of subsidiaries | $ 800,000 |
Stock redeemed during the period, value | $ 1,400,000 |
NOTES PAYABLE (Details)
NOTES PAYABLE (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Short-Term Debt [Line Items] | ||
Total notes payable | $ 30,012,000 | $ 31,107,000 |
Unamortized debt discounts | (328,000) | (83,000) |
Total notes payable, net | 29,684,000 | 31,024,000 |
Less: current portion | (12,370,000) | (12,866,000) |
Notes payable - long-term portion | $ 17,314,000 | 18,158,000 |
Circle 8 Revolving Credit Facility [Member] | ||
Short-Term Debt [Line Items] | ||
Collateral | Circle 8 cranes with a book value of $30.7 million | |
Interest rate | 8.40% | |
Due date | Dec. 16, 2025 | |
Total notes payable | $ 15,467,000 | 15,907,000 |
Promissory Note 16 Percent [Member] | ||
Short-Term Debt [Line Items] | ||
Interest rate | 16% | |
Due date | Jun. 15, 2024 | |
Total notes payable | $ 4,072,000 | 2,572,000 |
Circle 8 equipment financing notes [Member] | ||
Short-Term Debt [Line Items] | ||
Collateral | Circle 8 equipment with a book value of $3.8 million | |
Interest rate | 6.60% | |
Total notes payable | $ 4,739,000 | 5,629,000 |
Circle 8 equipment financing notes [Member] | Minimum [Member] | ||
Short-Term Debt [Line Items] | ||
Due date | Apr. 15, 2024 | |
Circle 8 equipment financing notes [Member] | Maximum [Member] | ||
Short-Term Debt [Line Items] | ||
Due date | Nov. 15, 2026 | |
Secured Promissory Notes 8 Percent [Member] | ||
Short-Term Debt [Line Items] | ||
Interest rate | 8% | |
Total notes payable | 950,000 | |
Shortrm Bank Credit Facilities [Member] | ||
Short-Term Debt [Line Items] | ||
Interest rate | 6.80% | |
Total notes payable | $ 942,000 | 1,464,000 |
Sentinum Note Payable [Member] | ||
Short-Term Debt [Line Items] | ||
Interest rate | 12.50% | |
Total notes payable | 1,067,000 | |
R O I Promissory Note [Member] | ||
Short-Term Debt [Line Items] | ||
Interest rate | 18% | |
Due date | Apr. 30, 2024 | |
Total notes payable | $ 2,094,000 | |
Other [Member] | ||
Short-Term Debt [Line Items] | ||
Total notes payable | $ 2,698,000 | $ 3,518,000 |
NOTES PAYABLE (Details 1)
NOTES PAYABLE (Details 1) | Mar. 31, 2024 USD ($) |
Debt Disclosure [Abstract] | |
2024 (remainder) | $ 12,370,000 |
2025 | 17,241,000 |
2026 | 379,000 |
2027 | 11,000 |
2028 | 11,000 |
Total | $ 30,012,000 |
NOTES PAYABLE (Details 2)
NOTES PAYABLE (Details 2) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Debt Disclosure [Abstract] | ||
Contractual interest expense | $ 1,263,000 | $ 1,097,000 |
Forbearance fees | 1,500,000 | 603,000 |
Amortization of debt discount | 2,137,000 | 10,400,000 |
Total interest expense | $ 4,900,000 | $ 12,100,000 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | ||||
Feb. 09, 2024 | May 16, 2024 | Apr. 29, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Convertible notes payable | $ 9,453,000 | $ 9,453,000 | ||||
Net proceeds from notes payable | $ 2,311,000 | $ 2,500,000 | ||||
R O I 15 Percentage Term Note [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Convertible notes payable | $ 1,770,000 | |||||
Interest rate | 15% | |||||
Net proceeds from notes payable | $ 1,750,000 | |||||
Principal amount | $ 2,100,000 | |||||
Interest rate, increase | 18% | |||||
Maturity date | Apr. 30, 2024 | |||||
Subsequent Event 15 Percentage Term Note [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Convertible notes payable | $ 500,000 | $ 1,700,000 | ||||
Interest rate | 15% | 15% | ||||
Net proceeds from notes payable | $ 1,600,000 | |||||
Maturity date | Jun. 15, 2024 | May 17, 2024 |
NOTES PAYABLE, RELATED PARTY (D
NOTES PAYABLE, RELATED PARTY (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Notes payable, related party | $ 293,000 | $ 2,375,000 | |
Interest expense, related party | $ 16,000 | ||
Notes From Officers Ault Alliance [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest rate | 18% | ||
Notes payable, related party | 98,000 | ||
Notes from officers turn on green [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest rate | 14% | ||
Notes payable, related party | $ 51,000 | 51,000 | |
Notes from board member ROI [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest rate | 18% | ||
Notes payable, related party | 90,000 | ||
Ault and company advances [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Notes payable, related party | $ 65,000 | 1,909,000 | |
Advances from officers GIGA [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest rate | 8% | ||
Notes payable, related party | $ 53,000 | 52,000 | |
Other Related Party Advances [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Notes payable, related party | $ 124,000 | $ 175,000 |
CONVERTIBLE NOTES (Details)
CONVERTIBLE NOTES (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Debt Instrument [Line Items] | ||
Total convertible notes payable | $ 154,000 | $ 910,000 |
Fair value of embedded options and derivatives | 21,334,000 | 23,395,000 |
Less: unamortized debt discounts | (750,000) | (2,179,000) |
Total convertible notes payable, net of financing cost, long term | 20,584,000 | 21,216,000 |
Less: current portion | (11,131,000) | (11,763,000) |
Convertible Notes Payable Net of Financing Cost Long Term | $ 9,453,000 | 9,453,000 |
Convertible Promissory Note [Member] | ||
Debt Instrument [Line Items] | ||
Conversion price per share | $ 0.35 | |
Interest rate on convertible note | 6% | |
Due date | Jun. 12, 2024 | |
Total convertible notes payable | $ 2,000,000 | |
Convertible Promissory Note 1 [Member] | ||
Debt Instrument [Line Items] | ||
Due date | Sep. 28, 2024 | |
Total convertible notes payable | $ 643,000 | 1,673,000 |
AVLP Convertible Promissory Notes [Member] | ||
Debt Instrument [Line Items] | ||
Conversion price per share | $ 0.35 | |
Interest rate on convertible note | 7% | |
Due date | Aug. 22, 2025 | |
Total convertible notes payable | $ 9,911,000 | 9,911,000 |
GIGA Senior Secured Convertible Notes [Member] | ||
Debt Instrument [Line Items] | ||
Conversion price per share | $ 0.25 | |
Interest rate on convertible note | 18% | |
Due date | Oct. 11, 2024 | |
Total convertible notes payable | $ 4,381,000 | 4,388,000 |
ROI Senior Secured Convertible Note [Member] | ||
Debt Instrument [Line Items] | ||
Conversion price per share | $ 0.11 | |
Due date | Apr. 27, 2024 | |
Total convertible notes payable | $ 4,245,000 | $ 6,513,000 |
CONVERTIBLE NOTES (Details 1)
CONVERTIBLE NOTES (Details 1) | Mar. 31, 2024 USD ($) |
Debt Instrument [Line Items] | |
2024 | $ 12,370,000 |
2025 | 17,241,000 |
Convertible notes payable | 30,012,000 |
Convertible Debt [Member] | |
Debt Instrument [Line Items] | |
2024 | 11,269,000 |
2025 | 9,911,000 |
Convertible notes payable | $ 21,180,000 |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details 2) | 3 Months Ended | 5 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Sep. 30, 2023 | Dec. 31, 2022 | |
Convertible Notes | |||
Contractual term in years | 1 year | 2 years 8 months 12 days | |
Volatility | 75% | 111% | 82% |
Dividend yield | 0% | 0% | 0% |
Risk-free interest rate | 4.80% | 3.50% | 4% |
CONVERTIBLE NOTES PAYABLE (De_2
CONVERTIBLE NOTES PAYABLE (Details 3) | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Convertible Notes | |
Beginning balance | $ 910,000 |
Change in fair value | (756,000) |
Ending balance | $ 154,000 |
CONVERTIBLE NOTES (Details Narr
CONVERTIBLE NOTES (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 11, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | |
Debt Instrument [Line Items] | |||
Gain on extinguishment of debt | $ 1,405,000 | $ (63,000) | |
Senior Secured Convertible Notes [Member] | |||
Debt Instrument [Line Items] | |||
Converted amount | 2,300,000 | ||
Converted amount | 900,000 | ||
Gain on extinguishment of debt | $ 1,400,000 | ||
Convertible promissory notes [Member] | Investor [Member] | |||
Debt Instrument [Line Items] | |||
Sale of stock amount | $ 2,000,000 | ||
Debt instrument, interest rate during period | 6% | ||
Gross proceeds from issuance or sale of equity | $ 1,800,000 | ||
Debt instrument, maturity date | Sep. 12, 2024 | ||
Common stock convertible conversion price | $ 0.35 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | Mar. 31, 2024 | Dec. 31, 2023 |
Commitments and Contingencies Disclosure [Abstract] | ||
Accrued contingent loss | $ 2,400,000 | $ 2,300,000 |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - At The Market Issuance Sales Agreement [Member] | 3 Months Ended |
Mar. 31, 2024 USD ($) shares | |
Series C Preferred Stock [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Sold an aggregate shares | 2,000 |
Number of shares agreed to purchase | 600,000 |
Number of shares agreed to purchase, value | $ | $ 2,000,000 |
Common Stock [Member] | Issuances 2023 [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Sold an aggregate shares | 25,600,000 |
Proceeds from issuance of common stock | $ | $ 14,600,000 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | ||
Effective Income Tax Rate Reconciliation, Percent | 0.40% | 0.60% |
Income tax provision | $ 44,000,000 | $ 300,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% |
NET LOSS PER SHARE (Details)
NET LOSS PER SHARE (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Numerator: | ||
Net income (loss) from continuing operations | $ 11,762,000 | $ (45,606,000) |
Less: net income (loss) attributable to non-controlling interest, continuing operations | (6,244,000) | 183,000 |
Less: Preferred stock dividends | (1,260,000) | (229,000) |
Numerator for basic EPS - Net income (loss) from continuing operations attributable to Ault Alliance, Inc. | 4,258,000 | (45,652,000) |
Numerator for basic EPS - Net loss from discontinued operations attributable to Ault Alliance, Inc. | (1,801,000) | (3,223,000) |
Effect of dilutive securities: | ||
Interest expense associated with convertible notes, continuing operations | 7,000 | |
Series C Convertible Preferred Stock dividend | 992,000 | |
Numerator for diluted EPS - Net income (loss) from continuing operations attributable to Ault Alliance, Inc., after the effect of dilutive securities | 5,257,000 | (45,652,000) |
Numerator for diluted EPS - Net loss from discontinued operations attributable to Ault Alliance, Inc. | $ (1,801,000) | $ (3,223,000) |
Denominator: | ||
Denominator for basic EPS - Weighted average shares of common stock outstanding | 16,116,000 | 47,000 |
Effect of dilutive securities: | ||
Warrants | 6,369,000 | |
Convertible notes | 5,714,000 | |
Series C Convertible Preferred Stock | 8,294,000 | |
Denominator for diluted EPS - Weighted average shares of common stock outstanding after the effect of dilutive securities | 36,493,000 | 47,000 |
Basic net income (loss) per share from: | ||
Continuing operations | $ 0.26 | $ (971.32) |
Discontinued operations | (0.11) | (68.57) |
Basic net income (loss) per share | 0.15 | (1,039.89) |
Diluted net income (loss) per share from: | ||
Continuing operations | 0.14 | (971.32) |
Discontinued operations | (0.05) | (68.57) |
Diluted net income (loss) per share | $ 0.09 | $ (1,039.89) |
Total | 3,000 | |
Warrant [Member] | ||
Diluted net income (loss) per share from: | ||
Total | 2,000 | |
Equity Option [Member] | ||
Diluted net income (loss) per share from: | ||
Total | 1,000 |
SEGMENT AND CUSTOMERS INFORMA_3
SEGMENT AND CUSTOMERS INFORMATION (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Segment Reporting Information [Line Items] | ||
(Loss) income from operations | $ 397,000 | $ (29,863,000) |
Interest expense | 4,900,000 | 12,100,000 |
Impairment of mined digital assets | 139,000 | |
Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 11,468,000 | 12,992,000 |
Revenue, digital asset mining | 11,447,000 | 7,347,000 |
Revenue, lending and trading activities | 9,099,000 | (4,939,000) |
Revenue, crane operations | 12,918,000 | 12,646,000 |
Revenue, hotel and real estate operations | 44,932,000 | 28,943,000 |
Depreciation and amortization expense | 5,935,000 | 6,202,000 |
(Loss) income from operations | 397,000 | (29,863,000) |
Interest expense | (4,900,000) | 12,100,000 |
Capital expenditures for the three months ended | 882,000 | 4,308,000 |
Segment identifiable assets | 207,905,000 | 429,388,000 |
Assets of discontinued operations | 91,872,000 | 97,519,000 |
Total identifiable assets | 299,777,000 | 526,907,000 |
Revenue, commercial real estate leases | 897,000 | |
Impairment of mined digital assets | 139,000 | |
Operating Segments [Member] | GIGA [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 9,573,000 | |
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 9,573,000 | 8,708,000 |
Depreciation and amortization expense | 297,000 | 590,000 |
(Loss) income from operations | (3,478,000) | (2,672,000) |
Interest expense | (627,000) | 221,000 |
Capital expenditures for the three months ended | 51,000 | 46,000 |
Segment identifiable assets | 31,376,000 | 37,952,000 |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets | ||
Operating Segments [Member] | Turn On Green [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 1,225,000 | 876,000 |
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 1,225,000 | 876,000 |
Depreciation and amortization expense | 24,000 | 143,000 |
(Loss) income from operations | (495,000) | (980,000) |
Interest expense | (69,000) | 2,000 |
Capital expenditures for the three months ended | 8,000 | 10,000 |
Segment identifiable assets | 4,507,000 | 6,293,000 |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets | ||
Operating Segments [Member] | Fintech [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | ||
Revenue, digital asset mining | ||
Revenue, lending and trading activities | 9,099,000 | (4,939,000) |
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 9,099,000 | (4,939,000) |
Depreciation and amortization expense | ||
(Loss) income from operations | 9,008,000 | (6,985,000) |
Interest expense | (5,000) | |
Capital expenditures for the three months ended | ||
Segment identifiable assets | 27,975,000 | 27,109,000 |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets | ||
Operating Segments [Member] | Sentinum [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 302,000 | |
Revenue, digital asset mining | 11,447,000 | 7,347,000 |
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 11,749,000 | 7,805,000 |
Depreciation and amortization expense | 4,051,000 | 3,335,000 |
(Loss) income from operations | 3,369,000 | (475,000) |
Interest expense | (118,000) | |
Capital expenditures for the three months ended | 293,000 | 1,052,000 |
Segment identifiable assets | 55,710,000 | 73,589,000 |
Revenue, commercial real estate leases | 458,000 | |
Impairment of mined digital assets | 139,000 | |
Operating Segments [Member] | Ault Disruptive [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | ||
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | ||
Depreciation and amortization expense | ||
(Loss) income from operations | (386,000) | (383,000) |
Interest expense | (16,000) | |
Capital expenditures for the three months ended | ||
Segment identifiable assets | 936,000 | 119,649,000 |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets | ||
Operating Segments [Member] | Energy [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 39,000 | 25,000 |
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | 12,918,000 | 12,646,000 |
Revenue, hotel and real estate operations | 12,957,000 | 13,110,000 |
Depreciation and amortization expense | 1,030,000 | 1,070,000 |
(Loss) income from operations | 1,188,000 | 1,970,000 |
Interest expense | (1,067,000) | 194,000 |
Capital expenditures for the three months ended | 451,000 | 331,000 |
Segment identifiable assets | 52,214,000 | 95,942,000 |
Revenue, commercial real estate leases | 439,000 | |
Impairment of mined digital assets | ||
Operating Segments [Member] | ROI [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 28,000 | |
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 28,000 | |
Depreciation and amortization expense | 18,000 | 83,000 |
(Loss) income from operations | (3,662,000) | (8,056,000) |
Interest expense | (1,601,000) | 6,000 |
Capital expenditures for the three months ended | 30,000 | 407,000 |
Segment identifiable assets | 7,692,000 | 12,929,000 |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets | ||
Operating Segments [Member] | Holding Company [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 301,000 | |
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 301,000 | |
Depreciation and amortization expense | 515,000 | 610,000 |
(Loss) income from operations | (5,147,000) | (10,031,000) |
Interest expense | (1,397,000) | 11,637,000 |
Capital expenditures for the three months ended | 49,000 | 2,320,000 |
Segment identifiable assets | $ 27,495,000 | 34,912,000 |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets | ||
Operating Segments [Member] | SMC [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 3,383,000 | |
Revenue, digital asset mining | ||
Revenue, lending and trading activities | ||
Revenue, crane operations | ||
Revenue, hotel and real estate operations | 3,383,000 | |
Depreciation and amortization expense | 371,000 | |
(Loss) income from operations | (2,251,000) | |
Interest expense | 40,000 | |
Capital expenditures for the three months ended | 142,000 | |
Segment identifiable assets | 21,013,000 | |
Revenue, commercial real estate leases | ||
Impairment of mined digital assets |
CONCENTRATIONS OF CREDIT AND _2
CONCENTRATIONS OF CREDIT AND REVENUE RISK (Details Narrative) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | One Enertec Customer [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 14% | ||
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | One Circle 8 Customer [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 11% | ||
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | North America [Member] | One Large Energy Customers [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 14% | ||
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | North America [Member] | Two Large Energy Customers [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 11% | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 25% | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | North America [Member] | One Customer [Member] | |||
Product Information [Line Items] | |||
Concentration risk, percentage | 20% |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Ault And Company [Member] - Series C Preferred Stock [Member] | 1 Months Ended |
Apr. 17, 2024 USD ($) shares | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Sale of stock, number of shares issued in transaction | 500 |
Warrants purchase | 100,000 |
Purchase price | $ | $ 500,000 |