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DESCRIPTION OF BUSINESS (Tables) | 6 Months Ended
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Jun. 30, 2022
Accounting Policies [Abstract] |
Schedule of condensed consolidated statements of operations and comprehensive loss |
Schedule of condensed consolidated statements of operations and comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Three Months Ended |
|  | June 30, 2021 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Revenue |  | $ | 8,564,000 |  |  | $ | - |  |  | $ | 8,564,000 |
Revenue, cryptocurrency mining, net |  |  | 291,000 |  |  |  |  |  |  |  | 291,000 |
Revenue, lending and trading activities |  |  | 53,274,000 |  |  |  |  |  |  |  | 53,274,000 |
Total revenue |  |  | 62,129,000 |  |  |  | - |  |  |  | 62,129,000 |
Cost of revenue |  |  | 6,278,000 |  |  |  |  |  |  |  | 6,278,000 |
Gross profit |  |  | 55,851,000 |  |  |  | - |  |  |  | 55,851,000 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 531,000 |  |  |  |  |  |  |  | 531,000 |
Selling and marketing |  |  | 1,505,000 |  |  |  |  |  |  |  | 1,505,000 |
General and administrative |  |  | 7,992,000 |  |  |  |  |  |  |  | 7,992,000 |
Total operating expenses |  |  | 10,028,000 |  |  |  | - |  |  |  | 10,028,000 |
Income from operations |  |  | 45,823,000 |  |  |  |  |  |  |  | 45,823,000 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |
Interest and other income |  |  | 14,000 |  |  |  |  |  |  |  | 14,000 |
Change in fair value of equity securities, related party |  |  | - |  |  |  | (5,893,000 | ) |  |  | (5,893,000 | )
Interest expense |  |  | (22,000 | ) |  |  |  |  |  |  | (22,000 | )
Change in fair value of marketable equity securities |  |  | (1,915,000 | ) |  |  |  |  |  |  | (1,915,000 | )
Gain on extinguishment of debt |  |  | 447,000 |  |  |  |  |  |  |  | 447,000 |
Change in fair value of warrant liability |  |  | 290,000 |  |  |  |  |  |  |  | 290,000 |
Total other expenses, net |  |  | (1,186,000 | ) |  |  | (5,893,000 | ) |  |  | (7,079,000 | )
Income (loss) before income taxes |  |  | 44,637,000 |  |  |  | (5,893,000 | ) |  |  | 38,744,000 |
Income tax provision |  |  | (3,504,000 | ) |  |  |  |  |  |  | (3,504,000 | )
Net income (loss) |  |  | 41,133,000 |  |  |  | (5,893,000 | ) |  |  | 35,240,000 |
Net income attributable to non-controlling interest |  |  | 1,083,000 |  |  |  |  |  |  |  | 1,083,000 |
Net income (loss) attributable to Ault Alliance, Inc. |  |  | 42,216,000 |  |  |  | (5,893,000 | ) |  |  | 36,323,000 |
Preferred dividends |  |  | (4,000 | ) |  |  |  |  |  |  | (4,000 | )
Net income (loss) available to common stockholders |  | $ | 42,212,000 |  |  | $ | (5,893,000 | ) |  | $ | 36,319,000 |
Basic net income (loss) per common share |  | $ | 0.83 |  |  |  |  |  |  | $ | 0.72 |
Diluted net income (loss) per common share |  | $ | 0.81 |  |  |  |  |  |  | $ | 0.69 |
Weighted average basic common shares outstanding |  |  | 50,783,000 |  |  |  |  |  |  |  | 50,783,000 |
Weighted average diluted common shares outstanding |  |  | 52,780,000 |  |  |  |  |  |  |  | 52,780,000 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common stockholders |  | $ | 42,212,000 |  |  | $ | (5,893,000 | ) |  | $ | 36,319,000 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | 134,000 |  |  |  |  |  |  |  | 134,000 |
Net unrealized gain on derivative securities of related party |  |  | (5,893,000 | ) |  |  | 5,893,000 |  |  |  | - |
Other comprehensive (loss) income |  |  | (5,759,000 | ) |  |  | 5,893,000 |  |  |  | 134,000 |
Total comprehensive income |  | $ | 36,453,000 |  |  | $ | - |  |  | $ | 36,453,000 |
|  | For the Six Months Ended |
|  | June 30, 2021 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Revenue |  | $ | 16,469,000 |  |  | $ | - |  |  | $ | 16,469,000 |
Revenue, cryptocurrency mining, net |  |  | 421,000 |  |  |  |  |  |  |  | 421,000 |
Revenue, lending and trading activities |  |  | 58,485,000 |  |  |  |  |  |  |  | 58,485,000 |
Total revenue |  |  | 75,375,000 |  |  |  | - |  |  |  | 75,375,000 |
Cost of revenue |  |  | 11,386,000 |  |  |  |  |  |  |  | 11,386,000 |
Gross profit |  |  | 63,989,000 |  |  |  | - |  |  |  | 63,989,000 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | 1,133,000 |  |  |  |  |  |  |  | 1,133,000 |
Selling and marketing |  |  | 2,747,000 |  |  |  |  |  |  |  | 2,747,000 |
General and administrative |  |  | 13,084,000 |  |  |  |  |  |  |  | 13,084,000 |
Total operating expenses |  |  | 16,964,000 |  |  |  | - |  |  |  | 16,964,000 |
Income from operations |  |  | 47,025,000 |  |  |  |  |  |  |  | 47,025,000 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |
Interest and other income |  |  | 51,000 |  |  |  |  |  |  |  | 51,000 |
Change in fair value of equity securities, related party |  |  | - |  |  |  | (2,924,000 | ) |  |  | (2,924,000 | )
Interest expense |  |  | (337,000 | ) |  |  |  |  |  |  | (337,000 | )
Change in fair value of marketable equity securities |  |  | 45,000 |  |  |  |  |  |  |  | 45,000 |
Realized gain on marketable securities |  |  | 397,000 |  |  |  |  |  |  |  | 397,000 |
Gain on extinguishment of debt |  |  | 929,000 |  |  |  |  |  |  |  | 929,000 |
Change in fair value of warrant liability |  |  | (388,000 | ) |  |  |  |  |  |  | (388,000 | )
Total other (expenses) income, net |  |  | 697,000 |  |  |  | (2,924,000 | ) |  |  | (2,227,000 | )
Income (loss) before income taxes |  |  | 47,722,000 |  |  |  | (2,924,000 | ) |  |  | 44,798,000 |
Income tax provision |  |  | (3,510,000 | ) |  |  |  |  |  |  | (3,510,000 | )
Net income (loss) |  |  | 44,212,000 |  |  |  | (2,924,000 | ) |  |  | 41,288,000 |
Net income attributable to non-controlling interest |  |  | 3,000 |  |  |  |  |  |  |  | 3,000 |
Net income (loss) attributable to Ault Alliance, Inc. |  |  | 44,215,000 |  |  |  | (2,924,000 | ) |  |  | 41,291,000 |
Preferred dividends |  |  | (9,000 | ) |  |  |  |  |  |  | (9,000 | )
Net income (loss) available to common stockholders |  | $ | 44,206,000 |  |  | $ | (2,924,000 | ) |  | $ | 41,282,000 |
Basic net income (loss) per common share |  | $ | 0.98 |  |  |  |  |  |  | $ | 0.92 |
Diluted net income (loss) per common share |  | $ | 0.92 |  |  |  |  |  |  | $ | 0.86 |
Weighted average basic common shares outstanding |  |  | 45,052,000 |  |  |  |  |  |  |  | 45,052,000 |
Weighted average diluted common shares outstanding |  |  | 47,574,000 |  |  |  |  |  |  |  | 47,574,000 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common stockholders |  | $ | 44,206,000 |  |  | $ | (2,924,000 | ) |  | $ | 41,282,000 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  |  | 41,000 |  |  |  |  |  |  |  | 41,000 |
Net unrealized gain on derivative securities of related party |  |  | (2,924,000 | ) |  |  | 2,924,000 |  |  |  | - |
Other comprehensive (loss) income |  |  | (2,883,000 | ) |  |  | 2,924,000 |  |  |  | 41,000 |
Total comprehensive income |  | $ | 41,323,000 |  |  | $ | - |  |  | $ | 41,323,000 |
Schedule of condensed consolidated statements of changes in stockholders’ equity |
Schedule of condensed consolidated statements of changes in stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
|  | January 1, 2021 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 28,000 |  |  | $ | - |  |  | $ | 28,000 |
Additional paid-in capital |  |  | 171,396,000 |  |  |  |  |  |  |  | 171,396,000 |
Accumulated deficit |  |  | (121,396,000 | ) |  |  | (933,000 | ) |  |  | (122,329,000 | )
Accumulated other comprehensive loss |  |  | (1,718,000 | ) |  |  | 933,000 |  |  |  | (785,000 | )
TOTAL AULT ALLIANCE STOCKHOLDERS’ EQUITY |  |  | 48,310,000 |  |  |  | - |  |  |  | 48,310,000 |
Non-controlling interest |  |  | 822,000 |  |  |  |  |  |  |  | 822,000 |
TOTAL STOCKHOLDERS’ EQUITY |  | $ | 49,132,000 |  |  | $ | - |  |  | $ | 49,132,000 |
|  | April 1, 2021 |
|  |  | As Reported |  |  |  | Adjustment |  |  |  | As Restated |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 49,000 |  |  | $ | - |  |  | $ | 49,000 |
Additional paid-in capital |  |  | 292,763,000 |  |  |  |  |  |  |  | 292,763,000 |
Accumulated deficit |  |  | (119,402,000 | ) |  |  | 2,036,000 |  |  |  | (117,366,000 | )
Accumulated other comprehensive loss |  |  | 1,158,000 |  |  |  | (2,036,000 | ) |  |  | (878,000 | )
TOTAL AULT ALLIANCE STOCKHOLDERS’ EQUITY |  |  | 174,568,000 |  |  |  | - |  |  |  | 174,568,000 |
Non-controlling interest |  |  | 1,902,000 |  |  |  |  |  |  |  | 1,902,000 |
TOTAL STOCKHOLDERS’ EQUITY |  | $ | 176,470,000 |  |  | $ | - |  |  | $ | 176,470,000 |
|  | June 30, 2021 |
|  |  | As Reported |  |  |  | Adjustment |  |  |  | As Restated |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  | $ | 56,000 |  |  | $ | - |  |  | $ | 56,000 |
Additional paid-in capital |  |  | 311,760,000 |  |  |  |  |  |  |  | 311,760,000 |
Accumulated deficit |  |  | (77,190,000 | ) |  |  | (3,857,000 | ) |  |  | (81,047,000 | )
Accumulated other comprehensive loss |  |  | (4,601,000 | ) |  |  | 3,857,000 |  |  |  | (744,000 | )
TOTAL AULT ALLIANCE STOCKHOLDERS’ EQUITY |  |  | 230,025,000 |  |  |  | - |  |  |  | 230,025,000 |
Non-controlling interest |  |  | 1,364,000 |  |  |  |  |  |  |  | 1,364,000 |
TOTAL STOCKHOLDERS’ EQUITY |  | $ | 231,389,000 |  |  | $ | - |  |  | $ | 231,389,000 |
Schedule of condensed consolidated statements of cash flows |
Schedule of condensed consolidated statements of cash flows |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Six Months Ended |
|  | June 30, 2021 |
|  | As Reported |  |  | Adjustment |  |  | As Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 44,212,000 |  |  | $ | (2,924,000 | ) |  | $ | 41,288,000 |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 1,093,000 |  |  |  |  |  |  |  | 1,093,000 |
Interest expense – debt discount |  |  | 40,000 |  |  |  |  |  |  |  | 40,000 |
Gain on extinguishment of debt |  |  | (929,000 | ) |  |  |  |  |  |  | (929,000 | )
Change in fair value of warrant liability |  |  | (290,000 | ) |  |  |  |  |  |  | (290,000 | )
Accretion of original issue discount on notes receivable – related party |  |  | (4,000 | ) |  |  |  |  |  |  | (4,000 | )
Accretion of original issue discount on notes receivable |  |  | (955,000 | ) |  |  |  |  |  |  | (955,000 | )
Increase in accrued interest on notes receivable – related party |  |  | (1,000 | ) |  |  |  |  |  |  | (1,000 | )
Stock-based compensation |  |  | 584,000 |  |  |  |  |  |  |  | 584,000 |
Realized gains on sale of marketable securities |  |  | (12,283,000 | ) |  |  |  |  |  |  | (12,283,000 | )
Unrealized losses (gains) on marketable securities |  |  | (3,483,000 | ) |  |  |  |  |  |  | (3,483,000 | )
Unrealized losses (gains) on equity securities, related parties |  |  | (39,852,000 | ) |  |  | 2,924,000 |  |  |  | (36,928,000 | )
Unrealized gains on equity securities |  |  | (1,224,000 | ) |  |  |  |  |  |  | (1,224,000 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities |  |  | (9,616,000 | ) |  |  |  |  |  |  | (9,616,000 | )
Accounts receivable |  |  | (887,000 | ) |  |  |  |  |  |  | (887,000 | )
Accrued revenue |  |  | 78,000 |  |  |  |  |  |  |  | 78,000 |
Inventories |  |  | 485,000 |  |  |  |  |  |  |  | 485,000 |
Prepaid expenses and other current assets |  |  | (2,537,000 | ) |  |  |  |  |  |  | (2,537,000 | )
Other assets |  |  | (246,000 | ) |  |  |  |  |  |  | (246,000 | )
Accounts payable and accrued expenses |  |  | 83,000 |  |  |  |  |  |  |  | 83,000 |
Other current liabilities |  |  | 4,472,000 |  |  |  |  |  |  |  | 4,472,000 |
Lease liabilities |  |  | (439,000 | ) |  |  |  |  |  |  | (439,000 | )
Net cash used in operating activities |  | $ | (21,699,000 | ) |  | $ | - |  |  | $ | (21,699,000 | )

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