Hyperscale Data, Inc 8-K, filed Aug 16, 2021

Hyperscale Data, Inc. (GPUS)

8-K 2021-08-16 For: 2021-08-16

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Added on April 06, 2026

About this 8-K

Hyperscale Data, Inc filed this 8-K on August 16, 2021.

Items reported

Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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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 August 16, 2021.
99.2		Corporate Presentation

	AULT GLOBAL HOLDINGS, INC.


Dated: August 16, 2021	/s/ Henry Nisser
	Henry Nisser
	President and General Counsel

	For the Three Months Ended June 30,
	2021		2020			Increase		%

Gresham Worldwide (“GWW”)	$	6,475,000	$	4,189,000		$	2,286,000		55	%
Coolisys Technologies Corp. (“Coolisys”)		1,831,000		1,246,000			585,000		47	%
Ault Alliance:
Revenue, cryptocurrency mining		291,000		—			291,000		—
Revenue, lending and trading activities		53,274,000		(34,000	)		53,308,000		156788	%
Other	$	258,000		—			258,000		—
Total revenue	$	62,129,000	$	5,401,000		$	56,728,000		1050	%

	June 30,		December 31,
	2021		2020
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	105,391,000	$	18,680,000
Marketable equity securities		30,172,000		2,563,000
Accounts receivable		4,730,000		3,852,000
Accounts and other receivable, related party		1,196,000		1,196,000
Accrued revenue		1,594,000		1,696,000
Inventories		2,900,000		3,374,000
Prepaid expenses and other current assets		5,373,000		2,988,000
TOTAL CURRENT ASSETS		151,356,000		34,349,000

Intangible assets, net		4,175,000		4,390,000
Goodwill		9,589,000		9,646,000
Property and equipment, net		7,262,000		2,123,000
Right-of-use assets		4,605,000		4,318,000
Investment in promissory notes, related parties		13,913,000		10,668,000
Investments in common stock and warrants, related parties		60,355,000		6,139,000
Investments in debt and equity securities		4,013,000		262,000
Investment in limited partnership		1,869,000		1,869,000
Loans receivable		572,000		750,000
Other investments, related parties		788,000		803,000
Other assets		604,000		326,000
TOTAL ASSETS	$	259,101,000	$	75,643,000

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses	$	7,784,000	$	10,579,000
Accounts payable and accrued expenses, related party		—		36,000
Operating lease liability, current		876,000		524,000
Revolving credit facility		103,000		125,000
Notes payable, net		1,808,000		4,048,000
Notes payable, related parties		—		188,000
Convertible notes payable, related party		—		400,000
Warrant liability		4,580,000		4,192,000
Income taxes payable		2,770,000		—
Other current liabilities		5,572,000		1,790,000
TOTAL CURRENT LIABILITIES	$	23,493,000	$	21,882,000

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2021			2020			2021			2020
Revenue	$	8,564,000		$	5,435,000		$	16,469,000		$	11,004,000
Revenue, cryptocurrency mining		291,000			—			421,000			—
Revenue, lending and trading activities		53,274,000			(34,000	)		58,485,000			2,000
Total revenue		62,129,000			5,401,000			75,375,000			11,006,000
Cost of revenue		6,278,000			3,496,000			11,386,000			7,349,000
Gross profit		55,851,000			1,905,000			63,989,000			3,657,000

Operating expenses
Research and development		531,000			462,000			1,133,000			903,000
Selling and marketing		1,505,000			295,000			2,747,000			633,000
General and administrative		7,992,000			2,918,000			13,084,000			5,821,000
Provision for credit losses		—			(1,000,000	)		—			—
Total operating expenses		10,028,000			2,675,000			16,964,000			7,357,000
Income (loss) from continuing operations		45,823,000			(770,000	)		47,025,000			(3,700,000	)
Other income (expenses)
Interest income		14,000			36,000			51,000			36,000
Interest expense		(22,000	)		(963,000	)		(337,000	)		(2,049,000	)
Change in fair value of marketable equity securities		(1,915,000	)		337,000			45,000			(29,000	)
Realized gain on marketable securities		—			—			397,000			—
Gain (loss) on extinguishment of debt		447,000			(12,000	)		929,000			(475,000	)
Change in fair value of warrant liability		290,000			(10,000	)		(388,000	)		(6,000	)
Total other income (expenses), net		(1,186,000	)		(612,000	)		697,000			(2,523,000	)
Income (loss) from continuing operations before income taxes		44,637,000			(1,382,000	)		47,722,000			(6,223,000	)
Income tax (expense) benefit		(3,504,000	)		6,000			(3,510,000	)		12,000
Net income (loss) from continuing operations		41,133,000			(1,376,000	)		44,212,000			(6,211,000	)
Net loss from discontinued operations, net of taxes		—			—			—			(1,698,000	)
Net income (loss)		41,133,000			(1,376,000	)		44,212,000			(7,909,000	)
Net loss attributable to non-controlling interest		1,083,000			—			3,000			—
Net income (loss) attributable to Ault Global Holdings		42,216,000			(1,376,000	)		44,215,000			(7,909,000	)
Preferred dividends		(4,000	)		(3,000	)		(9,000	)		(7,000	)
Net income (loss) available to common stockholders	$	42,212,000		$	(1,379,000	)	$	44,206,000		$	(7,916,000	)

Basic net income (loss) per common share:
Continuing operations	$	0.82		$	(0.24	)	$	0.97		$	(1.20	)
Discontinued operations		—			—			—			(0.33	)
Net income (loss) per common share	$	0.82		$	(0.24	)	$	0.97		$	(1.52	)

Diluted net income (loss) per common share:
Continuing operations	$	0.79		$	(0.24	)	$	0.91		$	(1.20	)
Discontinued operations		—			—			—			(0.33	)
Net income (loss) per common share	$	0.79		$	(0.24	)	$	0.91		$	(1.52	)
Weighted average basic common shares outstanding		50,783,000			5,864,000			45,052,000			5,199,000
Weighted average diluted common shares outstanding		52,780,000			5,864,000			47,574,000			5,199,000

Comprehensive income (loss)
Net income (loss) available to common stockholders	$	42,212,000		$	(1,379,000	)	$	44,206,000		$	(7,916,000	)
Other comprehensive income (loss)
Foreign currency translation adjustment		134,000			97,000			41,000			(51,000	)
Net unrealized gain (loss) on derivative securities of related party		(5,893,000	)		761,000			(2,924,000	)		(481,000	)
Other comprehensive income (loss)		(5,759,000	)		858,000			(2,883,000	)		(532,000	)
Total comprehensive income (loss)	$	36,453,000		$	(521,000	)	$	41,323,000		$	(8,448,000	)

	For the Six Months Ended June 30,
	2021			2020

Cash flows from operating activities:
Net income (loss)	$	44,212,000		$	(7,909,000	)
Less: Net loss from discontinued operations		—			(1,698,000	)
Net income (loss) from continuing operations		44,212,000			(6,211,000	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		446,000			260,000
Amortization		191,000			167,000
Amortization of right-of-use assets		441,000			247,000
Amortization, related party		15,000			—
Interest expense – debt discount		40,000			908,000
Gain on extinguishment of debt		(929,000	)		—
Change in fair value of warrant liability		(290,000	)		10,000
Accretion of original issue discount on notes receivable – related party		(4,000	)		15,000
Accretion of original issue discount on notes receivable		(955,000	)		(4,000	)
Increase in accrued interest on notes receivable – related party		(1,000	)		—
Stock-based compensation		584,000			143,000
Realized losses on other investments		—			28,000
Realized gains on sale of marketable securities		(12,283,000	)		(15,000	)
Unrealized gains on marketable equity securities		(3,483,000	)		(52,000	)
Unrealized (gains) losses on equity securities – related party		(39,852,000	)		65,000
Unrealized (gains) losses on equity securities		(1,224,000	)		73,000
Changes in operating assets and liabilities:
Marketable equity securities		(9,616,000	)		—
Accounts receivable		(887,000	)		199,000
Accrued revenue		78,000			34,000
Inventories		485,000			(35,000	)
Prepaid expenses and other current assets		(2,537,000	)		181,000
Other assets		(246,000	)		(39,000	)
Accounts payable and accrued expenses		(2,651,000	)		1,365,000
Accounts payable, related parties		(36,000	)		(24,000	)
Income taxes payable		2,770,000
Other current liabilities		4,472,000			660,000
Lease liabilities		(439,000	)		(234,000	)
Net cash used in continuing operating activities		(21,699,000	)		(2,259,000	)
Net cash provided by discontinued operating activities		—			1,000
Net cash used in operating activities		(21,699,000	)		(2,258,000	)

Cash flows from investing activities:
Purchase of property and equipment		(5,590,000	)		(190,000	)
Investment in promissory notes, related parties		(4,040,000	)		(199,000	)
Investments in common stock and warrants, related parties		(16,483,000	)		(10,000	)
Investment in real property, related party		(2,670,000	)		—
Proceeds from sale of investment in real property, related party		2,670,000			—
Purchase of marketable equity securities		—			—
Sales of marketable equity securities		430,000			110,000
Proceeds from loans receivable		—			140,000
Investments in debt and equity securities		(4,054,000	)		(3,000	)
Net cash used in investing activities	$	(29,737,000	)	$	(152,000	)