Hyperscale Data, Inc 8-K/A, filed Nov 22, 2021

Hyperscale Data, Inc. (GPUS)

8-K/A 2021-11-22 For: 2021-11-22

View Original

Added on April 06, 2026

About this 8-K/A

Hyperscale Data, Inc filed this 8-K/A on November 22, 2021.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Delaware		001-12711		94-1721931
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

Exhibit No.		Description

99.1		Press Release issued on November 21, 2021.
101		Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language).
104		Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101).

	AULT GLOBAL HOLDINGS, INC.


Dated: November 22, 2021	/s/ Kenneth Cragun
	Kenneth Cragun Chief Financial Officer

	For the Three Months Ended September 30,						Increase
	2021			2020			(Decrease)			%

Gresham Worldwide	$	6,373,000		$	4,329,000		$	2,044,000			47	%
TurnOnGreen		1,094,000			1,376,000			(282,000	)		-20	%
Ault Alliance:
Revenue, cryptocurrency mining		272,000			-			272,000			—
Revenue, lending and trading activities		(38,869,000	)		(29,000	)		(38,840,000	)		133,931	%
Other		336,000			—			336,000			—
Total revenue	$	(30,794,000	)	$	5,676,000		$	(36,470,000	)		-643	%

	September 30,		December 31,
	2021		2020
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	44,047,000	$	18,680,000
Marketable equity securities		49,931,000		2,563,000
Accounts receivable		5,115,000		3,852,000
Accounts and other receivable, related party		1,196,000		1,196,000
Accrued revenue		1,857,000		1,696,000
Inventories		3,842,000		3,374,000
Prepaid expenses and other current assets		7,987,000		2,988,000
TOTAL CURRENT ASSETS		113,975,000		34,349,000

Intangible assets, net		4,069,000		4,390,000
Goodwill		9,606,000		9,646,000
Property and equipment, net		29,550,000		2,123,000
Right-of-use assets		5,201,000		4,318,000
Investment in promissory notes, related parties		19,194,000		10,668,000
Investments in common stock and warrants, related parties		24,911,000		6,139,000
Investments in debt and equity securities		9,924,000		262,000
Investment in limited partnership		1,869,000		1,869,000
Loans receivable		5,877,000		750,000
Other investments, related parties		780,000		803,000
Other assets		765,000		326,000
TOTAL ASSETS	$	225,721,000	$	75,643,000

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses	$	9,361,000	$	10,579,000
Accounts payable and accrued expenses, related party		26,000		36,000
Operating lease liability, current		1,014,000		524,000
Revolving credit facility		-		125,000
Notes payable, net		1,697,000		4,048,000
Notes payable, related parties		-		188,000
Convertible notes payable, related party		-		400,000
Warrant liability		4,322,000		4,192,000
Other current liabilities		3,608,000		1,790,000
TOTAL CURRENT LIABILITIES		20,028,000		21,882,000

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2021			2020			2021			2020

Revenue	$	7,803,000		$	5,705,000		$	24,272,000		$	16,709,000
Revenue, cryptocurrency mining		272,000			-			693,000			-
Revenue, lending and trading activities		(38,869,000	)		(29,000	)		19,615,000			(27,000	)
Total revenue		(30,794,000	)		5,676,000			44,580,000			16,682,000
Cost of revenue		5,271,000			3,736,000			16,657,000			11,085,000
Gross profit (loss)		(36,065,000	)		1,940,000			27,923,000			5,597,000

Operating expenses
Research and development		524,000			469,000			1,657,000			1,372,000
Selling and marketing		1,993,000			260,000			4,740,000			893,000
General and administrative		11,292,000			2,836,000			24,376,000			8,656,000
Total operating expenses		13,809,000			3,565,000			30,773,000			10,921,000

Loss from continuing operations		(49,874,000	)		(1,625,000	)		(2,850,000	)		(5,324,000	)
Other income (expenses)
Interest income		125,000			102,000			176,000			139,000
Accretion of discount on note receivable, related party		4,210,000			-			4,210,000			-
Interest expense		(140,000	)		(2,366,000	)		(475,000	)		(4,414,000	)
Change in fair value of marketable equity securities		(750,000	)		(29,000	)		(705,000	)		(58,000	)
Realized gain on marketable securities		30,000			-			428,000			-
Gain (loss) on extinguishment of debt		-			(12,823,000	)		929,000			(13,298,000	)
Change in fair value of warrant liability		259,000			-			(130,000	)		(6,000	)
Total other income (expenses), net		3,734,000			(15,116,000	)		4,433,000			(17,637,000	)

Income (loss) from continuing operations before income taxes		(46,140,000	)		(16,741,000	)		1,583,000			(22,961,000	)
Income tax (provision) benefit		3,366,000			6,000			(144,000	)		18,000
Net income (loss) from continuing operations		(42,774,000	)		(16,735,000	)		1,439,000			(22,943,000	)
Net loss from discontinued operations, net of taxes		-			-			-			(1,698,000	)
Net income (loss)		(42,774,000	)		(16,735,000	)		1,439,000			(24,641,000	)
Net loss attributable to non-controlling interest		(96,000	)		-			(93,000	)		-
Net income (loss) attributable to Ault Global Holdings		(42,870,000	)		(16,735,000	)		1,346,000			(24,641,000	)
Preferred dividends		(4,000	)		(3,000	)		(13,000	)		(10,000	)
Net income (loss) available to common stockholders	$	(42,874,000	)	$	(16,738,000	)	$	1,333,000		$	(24,651,000	)
Basic net income (loss) per common share:
Continuing operations	$	(0.73	)	$	(1.69	)	$	0.03		$	(3.40	)
Discontinued operations		-			-			-			(0.25	)
Net income (loss) per common share	$	(0.73	)	$	(1.69	)	$	0.03		$	(3.65	)

Diluted net income (loss) per common share:
Continuing operations	$	(0.73	)	$	(1.69	)	$	0.03		$	(3.40	)
Discontinued operations		-			-			-			(0.25	)
Net income (loss) per common share	$	(0.73	)	$	(1.69	)	$	0.03		$	(3.65	)

Weighted average basic common shares outstanding		58,987,000			9,879,000			49,714,000			6,759,000
Weighted average diluted common shares outstanding		58,987,000			9,879,000			50,145,000			6,759,000
Comprehensive loss
Net income (loss) available to common stockholders	$	(42,874,000	)	$	(16,738,000	)	$	1,333,000		$	(24,651,000	)
Other comprehensive income (loss)
Foreign currency translation adjustment		(182,000	)		44,000			(141,000	)		(8,000	)
Net unrealized gain (loss) on derivative securities of related party		(4,849,000	)		1,561,000			(7,773,000	)		1,080,000
Other comprehensive income (loss)		(5,031,000	)		1,605,000			(7,914,000	)		1,072,000
Total comprehensive loss	$	(47,905,000	)	$	(15,133,000	)	$	(6,581,000	)	$	(23,579,000	)

	For the Nine Months Ended September 30,
	2021			2020

Cash flows from operating activities:
Net income (loss)	$	1,439,000		$	(24,641,000	)
Less: Net loss from discontinued operations		-			(1,698,000	)
Net income (loss) from continuing operations		1,439,000			(22,943,000	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		711,000			357,000
Amortization		296,000			252,000
Amortization of right-of-use assets		683,000			47,000
Amortization, related party		23,000			-
Interest expense – debt discount		61,000			2,379,000
(Gain) loss on extinguishment of debt		(929,000	)		2,749,000
Change in fair value of warrant liability		(259,000	)		-
Accretion of original issue discount on notes receivable – related party		(4,213,000	)		21,000
Accretion of original issue discount on notes receivable		(366,000	)		(5,000	)
Increase in accrued interest on notes receivable – related party		(119,000	)		-
Stock-based compensation		4,732,000			272,000
Realized losses on other investments		-			28,000
Realized gains on sale of marketable securities		(15,154,000	)		(23,000	)
Unrealized losses on marketable equity securities		6,353,000			132,000
Unrealized gains on equity securities – related party		(6,150,000	)		(25,000	)
Unrealized (gains) losses on equity securities		(2,795,000	)		73,000
Changes in operating assets and liabilities:
Marketable equity securities		(34,196,000	)		-
Accounts receivable		(1,270,000	)		(591,000	)
Accrued revenue		(166,000	)		600,000
Inventories		(492,000	)		(199,000	)
Prepaid expenses and other current assets		(5,155,000	)		(750,000	)
Other assets		(407,000	)		(86,000	)
Accounts payable and accrued expenses		(1,073,000	)		11,986,000
Accounts payable, related parties		(9,000	)		(26,000	)
Other current liabilities		2,210,000			408,000
Lease liabilities		(666,000	)		(13,000	)

Net cash used in continuing operating activities		(56,911,000	)		(5,357,000	)
Net cash provided by discontinued operating activities		—			1,000
Net cash used in operating activities		(56,911,000	)		(5,356,000	)

Cash flows from investing activities:
Purchase of property and equipment		(28,145,000	)		(554,000	)
Investment in promissory notes, related parties		(4,994,000	)		(517,000	)
Investments in common stock and warrants, related parties		(19,590,000	)		(93,000	)
Investment in real property, related party		(2,670,000	)		-
Proceeds from sale of investment in real property, related party		2,670,000			-
Sales of marketable equity securities		430,000			144,000
Purchase of marketable equity securities		(2,144,000	)		-
Proceeds from loans receivable		-			140,000
Investments in debt and equity securities		(14,287,000	)		(13,000	)

Net cash used in investing activities	$	(68,730,000	)	$	(893,000	)