<SEC-DOCUMENT>0001214659-24-005799.txt : 20240401
<SEC-HEADER>0001214659-24-005799.hdr.sgml : 20240401
<ACCEPTANCE-DATETIME>20240401163520
ACCESSION NUMBER:		0001214659-24-005799
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240401
DATE AS OF CHANGE:		20240401
EFFECTIVENESS DATE:		20240401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ault Alliance, Inc.
		CENTRAL INDEX KEY:			0000896493
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				941721931
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12711
		FILM NUMBER:		24810024

	BUSINESS ADDRESS:	
		STREET 1:		11411 SOUTHERN HIGHLANDS PARKWAY
		STREET 2:		SUITE 240
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89141
		BUSINESS PHONE:		(949) 444-5464 3679

	MAIL ADDRESS:	
		STREET 1:		11411 SOUTHERN HIGHLANDS PARKWAY
		STREET 2:		SUITE 240
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89141

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BitNile Holdings, Inc.
		DATE OF NAME CHANGE:	20211213

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ault Global Holdings, Inc.
		DATE OF NAME CHANGE:	20210119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DPW Holdings, Inc.
		DATE OF NAME CHANGE:	20171229
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
<SEQUENCE>1
<FILENAME>aa325248nt10k.htm
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 12b-25</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-12711</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTIFICATION OF LATE FILING</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&yacute;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form 10-K</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    20-F</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    11-K</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    10-Q</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Wingdings; font-size: 10pt; font-weight: normal">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Form 10-D</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Wingdings; font-size: 10pt; font-weight: normal">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Form N-CEN</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-family: Wingdings; font-size: 10pt; font-weight: normal">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Form N-CSR</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For Period Ended: December 31, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition
    Report on Form 10-K</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 65%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition
    Report on Form 11-K</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition
    Report on Form 20-F</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transition
    Report on Form 10-Q</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the Transition Period Ended: _______________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>Nothing in this form shall
be construed to imply that the Commission has verified any information contained herein.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">If the notification relates
to a portion of the filing checked above, identify the item(s) to which the notification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">relates: _______________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<B>PART I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REGISTRANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Full name of registrant </FONT></TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ault Alliance, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address of principal executive office </FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11411 Southern Highlands Parkway, Suite 240</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">City, state and zip code </FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Las Vegas, NV 89141</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RULE 12b-25 (b) AND (c)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the subject report could
not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25 (b), the following should
be completed. (Check box if appropriate.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD>
    <TD STYLE="white-space: nowrap; width: 3%">(a)</TD>
    <TD STYLE="width: 92%"> The reasons described in reasonable detail in Part III of this Form could not be eliminated without unreasonable effort or expense;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; vertical-align: middle"><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="white-space: nowrap">(b)</TD>
    <TD>The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form11-K, Form N-CEN or Form N-CSR, or
    portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly
    report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before
    the fifth calendar day following the prescribed due date; and</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
                                                                   <TR STYLE="vertical-align: top">
<TD></TD>
    <TD STYLE="white-space: nowrap">(c)</TD>
    <TD>The accountant&rsquo;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART III</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NARRATIVE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">State below in reasonable
detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed
within the prescribed time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">The
compilation, dissemination and review of the information required to be presented in the Form 10-K for the fiscal year ended December
31, 2023 has imposed requirements that have rendered timely filing of the Form 10-K impracticable without undue hardship and expense to
the registrant. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Part
IV</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Other
Information</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Name and telephone number of person to contact in regard to this
notification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 18%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Kenneth S. Cragun</U></FONT></TD>
    <TD STYLE="text-align: center; width: 18%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>(949)</U></FONT></TD>
    <TD STYLE="text-align: center; width: 39%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>444-5464</U></FONT></TD>
    <TD STYLE="width: 23%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 18pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">(Name)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Area Code) </FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Telephone Number)</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) Have all other periodic reports required under
Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12
months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25in"><FONT STYLE="font-family: Wingdings">x</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Yes &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3) Is it anticipated that any significant change
in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included
in the subject report or portion thereof?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25in"><FONT STYLE="font-family: Wingdings">x</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Yes &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If so: attach an explanation of the anticipated
change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be
made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Registrant&rsquo;s revenue was approximately
$155 million for the year ended December 31, 2023, an increase of 31% from the $118 million for the year ended December 31, 2022. The
Registrant&rsquo;s loss from continuing operations was approximately $142 million for the year ended December 31, 2023, compared to a
loss from continuing operations of approximately $139 million for the year ended December 31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue for the year ended December 31, 2023 included
negative revenue from lending and trading activities of approximately $4 million, compared to positive revenue of $37 million for the
year ended December 31, 2022. Revenue for the year ended December 31, 2023 included approximately $32 million from its consolidated variable
interest entity, The Singing Machine Company, Inc. (&ldquo;SMC&rdquo;), which was acquired in June 2022, up from $24 million for the year
ended December 31, 2022. Revenue for the year ended December 31, 2023 included approximately $49 million from its majority owned subsidiary,
Circle 8 Crane Services, LLC, which assets and operations were acquired in December 2022. The Registrant had an increase in revenue of
approximately $8 million, or 25%, from its defense segment. The Registrant also had an increase in its digital currencies mining operations
of approximately $16 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Registrant&rsquo;s operating expenses decreased
to approximately $172 million for the year ended December 31, 2023, representing a decrease of approximately $18 million compared to approximately
$190 million for the year ended December 31, 2022. Operating expenses for the year ended December 31, 2023 included approximately $43
million related to impairment of goodwill and intangible assets and approximately $10&nbsp;million of impairment of property and equipment.
Operating expenses for the year ended December 31, 2022 included approximately $13 million related to impairment of goodwill and intangible
assets and approximately $80&nbsp;million of impairment of property and equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Excluding the impairment charges, operating expenses
from the year ended December 31, 2023 were approximately $118 million, compared to approximately $92 million for the year ended December
31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The increase in operating expenses, excluding
the impairment charges, was due to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Selling and marketing expenses were approximately
$33 million for the year ended December&nbsp;31, 2023, compared to approximately $29 million for the year ended December 31, 2022. The
increase was primarily the result of higher marketing costs related to an advertising sponsorship agreement by RiskOn International, Inc.
(&ldquo;ROI&rdquo;). SMC, which was acquired in June 2022, had an increase of approximately $1.3 million in selling and marketing costs;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Research and development expenses were approximately
$7 million for the year ended December&nbsp;31, 2023, compared to approximately $3 million for the year ended December 31, 2022. The increase
was primarily due to expenditures related to development work on ROI&rsquo;s BitNile metaverse platform; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">General and administrative expenses were approximately
$77 million for the year ended December 31, 2023, compared to approximately $60 million for the year ended December 31, 2022, an increase
of approximately $17 million, or approximately 28%. General and administrative expenses increased by approximately $29 million from the
comparative prior period due to the registrant&rsquo;s recent acquisitions partially offset by decreases related to bonuses and legal
fees.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Registrant&rsquo;s estimated net loss available
to common stockholders was approximately $192 million for the year ended December 31, 2023, compared to a net loss available to common
stockholders of approximately $182 million for the year ended December 31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AULT ALLIANCE, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: April 1,
2024</FONT></TD>
    <TD STYLE="width: 47%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/ Kenneth S. Cragun</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: Kenneth S. Cragun</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">4</P>

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