Ault Global Holdings Reports Preliminary Q1 2021 Financial Results
Q1 2021 Revenue of Approximately
Q1 2021 Net Income of Approximately
Revenue of approximately
$13 million, an increase of approximately 132% from $5.6 millionin the prior first fiscal quarter.
Revenue from lending and investing activities of approximately
$5 milliondue to the allocation of capital to the Company’s wholly-owned subsidiary, Digital Power Lending, LLC;
Revenue from cryptocurrency mining of approximately
$130,000as the Company resumed cryptocurrency mining operations with approximately 1,000 miners during March 2021; and
Net income of approximately
$1.5 millionfor the quarter, which represents the first quarterly profit under current management.
Ault Global’s Founder and Executive Chairman, Milton “Todd” Ault, III said, “Our positive financial results in the first quarter of 2021 result from years of strategic planning. During this time, we have strengthened our operating businesses, funded Digital Power Lending, our financial services subsidiary, and improved our balance sheet tremendously. We are pleased to report significant revenue growth and are optimistic of the long-term potential of Digital Power Lending. As I said in the previous quarter when commenting about our fiscal year ended
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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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