Mar 22, 2023 6:30 AM
Ault Alliance Expects 50% Revenue Growth in 2023, Driven by Recent Acquisitions and Expansion Plans
The significant projected growth is attributed to various factors, including a full year of Circle 8 crane operations, which was acquired in
Ault Alliance’s four Midwest hotels continue to demonstrate solid growth as the travel industry recovers from the COVID-19 downturn. The Company’s defense business, Giga-tronics Incorporated, and its EV charging stations and power electronics operations, Imperalis Holding Corp. (also referred to as TurnOnGreen), are expected to be spun off to
Milton “Todd” Ault III, Founder and Executive Chairman of
Despite the current disappointment with the trading price of the Company’s common stock,
Ault Alliance’s annual 10-K report is expected to be filed on or before
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 not limited to: (i) the unforeseen delays in 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) revenues and profits generated by its wholly owned subsidiary
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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,” 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
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