Hyperscale Data, Inc 8-K, filed Nov 30, 2022
Hyperscale Data, Inc. (GPUS)
About this 8-K
Hyperscale Data, Inc filed this 8-K on November 30, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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| ITEM 7.01 | REGULATION FD DISCLOSURE |
On November 30, 2022, BitNile Holdings, Inc., a Delaware corporation (the “Company”) issued a press release announcing the Company’s revenue guidance for 2023, which is expected to be greater than $200 million, subject to certain conditions and risks, as detailed further in the press release.
In accordance with General Instruction B.2 of Form 8-K, the information under this item shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.
The Securities and Exchange Commission encourages registrants to disclose forward-looking information so that investors can better understand the future prospects of a registrant and make informed investment decisions. This Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this Current Report on Form 8-K. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
| (d) | Exhibits: |
| Exhibit No. | Description | |
| 99.1 | Press Release issued on November 30, 2022. | |
| 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). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BITNILE HOLDINGS, INC. | ||
| Dated: November 30, 2022 | /s/ Henry Nisser | |
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Henry Nisser President and General Counsel |
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Exhibit 99.1
BitNile Holdings Announces 2023 Revenue Guidance of More Than $200 Million
Revenue guidance for 2023 includes expected revenue from the recently announced agreement to purchase assets from Circle 8 Crane Services, and excludes revenue from TurnOnGreen and Giga-tronics, which are expected to be spun off during 2023
LAS VEGAS--(BUSINESS WIRE) – November 30, 2022 -- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), today announced revenue guidance for 2023 of more than $200 million, including anticipated revenue from the recently announced agreement to purchase assets of Circle 8 Crane Services (“Circle 8”), but excluding revenue from Imperalis Holding Corp. (to be renamed TurnOnGreen, Inc.) (“TurnOnGreen”) and Giga-tronics Incorporated (“GIGA”), both of which have been announced as future spin-offs from the Company.
The Company notes that all estimates and other projections are subject to a number of factors that could result in decreased revenue for fiscal 2023, including, but in no way not limited to: (i) the unforeseen delays in delivery and installation of Bitcoin miners, (ii) the volatility in, and downward pressure on, Bitcoin’s market price, (iii) the increase in the mining difficulty level, (iv) whether the Company will close the acquisition of Circle 8, (v) revenues and profits generated by its wholly owned subsidiary Ault Lending, LLC, (vi) the Company’s operations in the oil and gas industry and the potential continuation of falling crude oil prices, and (vii) a significant number of other factors that could adversely impact the results of production or operations.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We have made substantial investments in our data center, mining operations and other business segments, which we believe will all contribute to the expected top line growth for 2023. We believe revenues from the Singing Machine Company, our hotel operations and the crane company, if acquired, will add stability to our gross margins in the future. We expect our capital expenditures to decrease given the last three years of heavy investment. As I have said before, we are focused more than ever on enhancing stockholder value and continuing to improve our financial results under difficult conditions in the marketplace.”
For more information on BitNile and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including oil exploration, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” “considering” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.
BitNile Holdings Investor Contact:
IR@BitNile.com or 1-888-753-2235