Q3 2021 Ault Global Holdings Inc Earnings Call

Speaker 1: implementation of strategic plans and future growth.

Implementation of strategic plans and future growth.

These statements are made based upon current expectations that are subject to known and unknown risks and uncertainties.

Speaker 1: These statements are made based upon current expectations that are subject to known and unknown risks and uncertain.

Speaker 1: AGH does not undertake to update forward-looking statements in this presentation to reflect actual results.

A G H does not undertake to update forward looking statements in this presentation to reflect actual results.

Speaker 1: Changes in assumptions or changes in other factors affecting such forward looking information, assumptions and other information that could cause results to differ from those set forth in the forward looking information.

<unk> in assumptions or changes in other factors affecting such forward looking information assumptions and other information that could cause the results to differ from those set forth in the forward looking information can be found in this presentation and in <unk> filings with the Securities and Exchange Commission, including.

Speaker 1: can be found in this presentation and in AGH's filings with the Securities and Exchange Commission, including its most recent periodic reports, including the risk factors listed in the Form 10-K for the year ended December 31, 2020. The 2020 annual report, as amended, available on our website and on the Securities and Exchange Commission's website.

Its most recent periodic reports, including the risk factors listed in the Form 10-K for the year ended December 31, 2020. The 2020 annual report as amended available on our website and on the Securities and exchange Commission's website www.

Speaker 2: www.sdc.gov That everything? All right, so how do I move this forward here?

W Dot.

STC Dot Gov.

That's everything.

Alright, so how do I move this forward here.

And I try to not move in here, let's see here.

Beside her election.

Okay.

Speaker 2: Okay, obviously we've covered this before, the sort of leadership team, myself, Will Horne, Henry Ennis, the President General Counsel, Ken Cragen, who we introduced earlier, Chris Wu, who we introduced earlier, David Kassoff, Darren McGough, Douglas Gens,

Obviously, we've covered this before sort of leadership team myself will horn Henry answer President General Counsel, and Craig and who we introduced earlier, Chris Lu who we introduced earlier, David Katz off during the go Douglas gens Jonas Fazzino, James Turner and G Ho, our Chief Accounting Officer I wanted.

Speaker 2: Joe Spaziano, James Turner, and Gene Ho, our Chief Accounting Officer. I want to mention Jason Bartholomew. He is Director of Business Development for the company and really instrumental in the Bitmain relationship and helping us sort of expand that over the last probably half a year or so. So we're pretty happy about that.

Mentioned, Jason Bartholomew He is director of business development for the company and really instrumental in the <unk> relationship.

In helping us sort of expand that over the last probably half a year or so so we're pretty happy about that.

Speaker 2: We're going to go through the third quarter highlights, this is sort of the process. We're going to go through the corporate structure, my commentary, and then we're going to get to the meaty stuff, which I think is the best news for the company in a long time. And we're going to try to focus in on some of the questions people have. The scale,

I'm going to go through the third quarter highlights this in sort of the process, we're going to go through the corporate structure.

My commentary and then we're going to get to the media stock, which I think is the best news for the company.

A long time, and we're going to try to focus in on some of the questions people have the scale the.

He also alliance structure and initiatives for 2022.

Speaker 2: the Alta Alliance structure and initiatives for 2022. Let's go to the third quarter highlights. This is the current corporate structure of the company. This is an important thing to look at now because this will be changing towards year end and a fairly dramatic change into the two separate companies which we'll talk about later. You see Gresham run by JR's team, JR and Tim Long.

Let's go to our third quarter highlights as the current corporate structure of the company. This is an important thing to look at now because this will be changing towards year end and a fairly dramatic change into two separate companies, which we'll talk about later you see Gresham run by Jr. Seem Jr, and Tim long.

Speaker 2: separate business, separate business. We really run them, compartmentalize, CEO , own operations.

A separate business.

Separate business, we really run them.

Compartmentalize CEO own operations.

Same would turn on grain.

Speaker 2: They have a digital power unit there that's not listed, but is an important subsidiary.

They have a digital power unit there thats not listed but is an important subsidiary. It's been there for 51 years. Then you see Op Alliance now we don't list every subsidiary here, but these are the main ones that are drivers you can see.

Speaker 2: It's been there for 51 years. Then you see Alt Alliance. Now we don't list every subsidiary here.

Speaker 2: But these are the main ones that are drivers. You can see our big position in Alzheimer's, Adtech Pharma, MTIX, which is the ADLP.

Our big position in Oldham and AD Tech pharma.

MTI X, which is the ABL P.

Speaker 2: uh the public company uh that is not reporting yet but is an alternative reporter this mtix is still there i know people question but we're still committed to this process

The public company that is not reporting yet, but as an alternative reporter. This MTI X is still there I know people question, but we're still committed to this process and we are I mean this is really something we really believe in I know, it's been a long time, but we send out we tend to not give up on great ideas and so we're working through that all top of which we can.

Speaker 2: I mean, this is really something we really believe in. I know it's been a long time.

Speaker 2: But we tend to not give up on great ideas.

Speaker 2: And so we're working through that Alt Alpha, which we consolidate, which is the hedge fund.

Consolidate which is the hedge fund alliance.

Speaker 2: Alliance Cloud Services, the data center, the crypto miners, which is really the story. We worked for a long time. Those of you who've been shareholders since 2016, 17, know we.

Alliance Cloud services, the data center, the crypto miners, which is really the story, where he worked for a long time those of you who have been shareholders. Since 2016 17 know we've tried it.

Speaker 2: at this before and had some trouble, we really feel like we've learned from that with our massive data center and the people that are involved.

At this before and had some trouble we really feel like we've learned from that with our massive data center and the people that are involved and agree which is run by Chris will all global real estate equities are commercial real estate Division, we think it's going to contribute a lot of EBITDA and one of the things we're going to point out in the future here is high growth high margin, which we see.

Speaker 2: and AGREE, which is run by Chris Wu, All Global Real Estate Equities, our commercial real estate division, we think it's going to contribute a lot of EBITDA. And one of the things we're going to point out in the future here is high growth.

Speaker 2: high margin, which we'll see a bit now, and sort of steady as you go EBITDA generation, which kind of is what Chris specializes in. We'll talk about that going forward.

A bit now and sort of steady as she go EBITDA generation, which kind of what is what Chris specializes in we'll talk about that going forward.

Speaker 2: For our nine months ended, we had $44 million in revenue. This is a dramatic increase.

For our nine months ended we had $44 million in revenue. This is a dramatic increase.

Speaker 2: from last year. I mean, company is completely different. I think that for legacy shareholders, it's a little confusing because you have this very dramatic revenue growth.

Last year I mean companies.

Completely different I think that for legacy shareholders. It's a little confusing because you have this very dramatic revenue growth.

Speaker 2: And one of the things you're experiencing is marks to the market transactions.

And one of the things you're experiencing is marks for the market transactions.

Speaker 2: which really skew our revenue. And we're gonna cover that because in this quarter, in the fourth quarter, we've already said we own a big chunk of Mullen, which went public. And you can see on our books, we have it for 3.2 million, but that's obviously at today's prices created millions of dollars of gains.

Which really skew our revenue and we're going to cover that because in this quarter and the fourth quarter. We've already said, we own a big chunk of Mullen, which went public and you can see on our books, we havent for $3 2 million, but that's obviously at todays prices created millions of dollars of gains very similar to where all demand created millions of dollars of gains.

Speaker 2: Very similar to where Alzheimer's created millions of dollars of gains and then was marked to the market because it went down this quarter, it's up. So it's a really it'll be a balancing act.

And then was marked to the market because it went down this quarter. It's up so it's a really it'll be a balancing act as the portfolio develops over the next year or so where youll see maybe a little bit more quarterly.

Speaker 2: as the portfolio develops over the next year or so where you'll see maybe a little bit more quarterly

Speaker 2: smoothness. But right now you see chaotic moves because of these large positions we have in other public companies that we mark to the market. Now that's the rules, by the way, folks.

Smoothness, but right now you see chaotic moves because of these large positions we have in other public companies that we mark to the market now that's the rules by the way folks we follow the law, it's called gap and Buffett talks a lot about this you have to flow through your income statement Theres nothing we can do about that so it does create a ton of volatility in terms of revenue or the <unk>.

Speaker 2: We follow the law, it's called GAAP, and Buffett talks a lot about this. You have to flow it through your income statement. There's nothing we can do about that. So it does create a ton of volatility in terms of revenue.

Speaker 2: The lender is obviously a big contributor, up almost $20 million for the year. The lender is a very big part of go forward for Alt Alliance. That is a very big part of the company and really part of our future plans.

Lenders, obviously, a big contributor up almost $20 million for the year. We can see the lenders are very big part of go forward Cross Alliance that is a very big part of the company and really part of our future plans.

Speaker 2: Revenue for trading activities, we talked about dramatic increase, a lot of volatility there.

Revenue for trading activities, we talked about dramatic increase a lot of volatility there.

We have a gain of about $6 4 million and all of them and very misleading because we havent sold any and we're waiting obviously for future events. There. So this is really we look at all of them and it's like a call option that doesn't expire on two drugs, we're pretty excited to own. These two neurodegenerative treatments crypto revenue dramatic increase but.

Speaker 2: We have a gain of about 6.4 million on Alzheimer's, very misleading because we haven't sold any and we're waiting obviously for future events there. So this is really, we look at Alzheimer's as like a call option that doesn't expire on two drugs. We're pretty excited to own these two neurodegenerative treatments. Crypto revenue, dramatic increase, but I wanna be clear and I hope everyone can hear me very clearly on this. These are old machines.

I want to be clear and I hope everyone can hear me very clearly on this these are old machines.

We did more than one month than we did all year with 1000 of the new machines. So it's very misleading and Youre looking backwards. When you see this but we did start in March to turn on our old miners that we had in Indiana that can they continue to contribute to the company.

Speaker 2: We did more in one month than we did all year with 1,000 of the new machines. So it's very misleading and you're looking backwards when you see this.

Speaker 2: But we did start in March to turn on our old miners that we had in Indiana. They continue to contribute to the company. But really it's a go forward statement. And unlike some companies that buy miners way far out, our delivery starts now. We get, we already got a thousand, we get 300 a month every single month. So you're gonna see a dramatic escalation in the amount of Bitcoin mine. Obviously that's subject to pricing in terms of how...

But really it's a go forward statement and unlike some companies that buy miners way far out our delivery starts now we get we already got 1000, we get 300, a month every single months youre going to see a dramatic escalation in the amount of Bitcoin mine, obviously, that's subject to pricing.

And in terms of how.

In terms of how bitcoin to us and of course saw net income of $1 3 million versus a massive loss in my opinion I, probably shouldn't use the word massive but a dramatic loss before in that nine month period, you see profitability you see net income a very big change for the company and this is why we think it's time.

Speaker 2: in terms of how Bitcoin does. And of course, net income of 1.3 million versus a massive loss. In my opinion, I probably shouldn't use the word massive, but a dramatic loss before in that nine month period. You see profitability, you see net income, a very big change for the company. And this is why we think it's time to split the company up. We'll explain that. This is a real earning story, a real growth story. And you have really this sort of parabolic growth that's going to take place at BitNile. And we'll talk about that.

So to split the company up will explain that this is a real earnings story, a real growth story and you have really the sort of parabolic growth that's going to take place a bit now and we'll talk about that.

Obviously, I'm not going to read this whole thing, but we've grown our assets to $225 million very volatile because we took a write down in terms of mark to the market for all of them and yet we're still there.

Speaker 2: Obviously, I'm not going to read this whole thing, but we've grown our assets to $225 million. Very volatile because we took a write-down in terms of the market for Alzheimer's, yet we're still there.

Speaker 2: You can see a revenue growth 47% quarter over quarter. It's really a great story for me because we've been putting this together. Myself and the team have been sort of building this together these little roadblocks, these blocks to make this possible. And now they're starting to pay itself off. But we admit that the current structure creates a lot of volatility for earnings.

You see our growth revenue growth, 47% quarter over quarter, it's really a great story for me because we've been putting this together myself and the team have been sort of building. This together these little roadblock.

Blocks to make this possible and now they're starting to pay itself off but we admit that the current structure creates a lot of volatility for earnings.

So we're gonna.

Speaker 3: So we're going to, Ken, do you want to comment at all about the third quarter before we move on to sort of this transformative, this structure here? I wonder if you want to comment about the slide at all or anything you want to talk about in terms of this. Yeah, yeah, yeah. So I think you touched on it. We really focused on the nine-month results because we did see big swings quarter to quarter from unrealized gains or losses.

Ken do you want to comment at all about the third quarter before we move on sort of this transmit transfer me to.

The structure here and I Wonder if you want to comment about the slide at all or anything you want to talk about in terms of yeah. So I think you touched on it and we really focus on the nine month results, because we did see big swings quarter to quarter from unrealized gains and losses, we have a we have a big position in all.

Speaker 3: We have a big position in Altamont, and we're big believers in Altamont going forward, so we're happy to have that large position. But what happened in Q2 is they had gone public on NASDAQ. They had run up to almost $9. We had a big, big unrealized gain in Q2, and then the market kind of settled down, and it ended Q3 at $3, so we had a big unrealized loss.

<unk> and <unk>.

We're big believers in all of them and going forward. So we're happy to have that large position, but what happened in Q2 has been public on NASDAQ did run up.

Almost $9, we had a big big unrealized gain in Q2, and then the market kind of settled down and ended Q3 at $3. So we had a big unrealized loss.

Speaker 3: But life today, as you pointed out, Todd, we're still up $6.5 million on our position.

But life today as you pointed out Todd were still up $6 $5 million on our position in those events.

Speaker 3: and uh so so we gotta you gotta kind of uh

So you got to kind of.

Look at the numbers and diverse one level deeper to see what's driving the fluctuations and then.

Speaker 3: look at the numbers and dive in one level deeper to see what's driving the fluctuations. And then in a slide, yeah.

Yes.

Speaker 2: Ken, I was kind of hoping you could cover for everyone, the best way to cover this is to give them a sense of the fact that the portfolio on the lender getting a mark to the market. We see a pretty big mark to the market this quarter in Mullen. We've publicly disclosed.

Ken I was kind of hoping you could cover for everyone.

The best the best way to cover this is <unk>.

To give them a sense of the fact that the portfolio on the lender getting a mark to market, yes, we see it we see a pretty big Mark to the market this quarter and Mullen, we publicly disclosed we filed a short youre talking to myself before.

Right and I was just trying to explain to them that they're going to see.

Speaker 3: Right. And I'm just trying to explain to them that they're going to see, you know, some positions up and down quarter over quarter, maybe how that affects your thinking here. Yeah, exactly. Exactly. Because Todd is, he's active in training, and we've taken some nice positions.

Some physicians up and down quarter over quarter, maybe how that affects your thinking here yeah exactly exactly because.

Todd.

<unk> is active in training and we've taken some nice positions.

Speaker 3: Mullen Technology was a good one. They listed on the NASDAQ their stocks up nicely.

Technology was a good one.

They listed on the NASDAQ.

<unk> up nicely.

Speaker 3: And we had that position prior to their uplisting, so we're up significantly on that position. There's some other trades that have been made on IPOs that have performed very well in Q4. We're not really here to give specific guidance on Q4, but

We had that.

<unk> prior to their up listing so were up significantly on acquisition and there's some other trades that have been made on ipos and it performed very well in Q4, we're not really.

We don't give specific guidance on Q4, but but.

Speaker 3: But yeah, we do have a few positions and a few trades that have worked out very well. So far, here we are, you know, more than halfway through the quarter.

We do have a few positions in a few trades and it worked out very well so far and here we are.

Okay.

Through the quarter. So I think it's important that we're not giving any guidance for Q4 at all that's not the point the point is to understand that we have a large portfolio there.

Speaker 2: So I think it's important that we're not getting any guidance for Q4 at all. That's not the point. The point is to understand that we have a large portfolio there. Ken, do you remember the size of it as of right now? Is it approximately, I don't want to misspeak, but is it around 100 million or is it a little less than that right now?

Can you remember the size of it as of right now is approximately I don't want to misspeak, but is around $100 million is a little less than that right now.

Speaker 2: Oh, no, we have a larger position than that on Mullin. And plus there's the warrants, so. No, but I mean in terms of the size of the overall portfolio of the lender. Oh, $100 million.

So now we have a larger position in that.

And plus there is the warrants so.

No, but I mean in terms of the size of the overall portfolio of the lender.

$100 million.

Speaker 3: Right, right. Yeah. And when you when you look at think about the lender going forward, that's going to well we're getting into the transition of where it is and kind of what right where one thing in your quote on on slide eight is.

Right right, yes, and when you when you look at think about the lender going forward thats going to while we're getting into the transition of where it is and kind of what were.

One thing in your quote.

<unk>.

Slide eight Todd is.

Would you have to just bit of a shout out to Gresham worldwide the defense business.

Speaker 3: We do have to do a bit of a shout out to Gresham Worldwide, the defense business.

<unk>.

Speaker 3: During the 3rd quarter, they're up 47% compared to last year, and they didn't have aggression worldwide that contributed to that, but they're, they're starting to perform as we've allocated additional capital to and the team aggression.

During the third quarter, they are up 4% to 7% compared to last year.

As you have gresham worldwide that contributed to that but they're starting to perform as we allocated additional capital to.

<unk>, Jr, and the team aggression worldwide, they've been executing on the backlog and their numbers are trending up nicely. So you'll get a little bit of a shout out to them when we talked yes.

Speaker 2: they've been executing on the backlog and their numbers are trending up nicely. So we'll get a little bit of a shout out to them when we talk about it. Yeah, I would say that if you look at the overall holding company structure, at any given time, one company or another may be doing better than the others. This has sort of been my philosophy for a long time. I know the market doesn't want to reward sort of the conglomerate model. And I'm aware of that. But for us,

I would say like if you look at the overall holding company structure at any given time, one company or another may be doing better than the others. This has sort of been my philosophy prolonged some I know the market doesn't want to reward sort of conglomerate model.

I'm aware of that but for us and for will and I and the team. It gives us comfort to know that we have this sort of broad diverse portfolio. This is the way we run things and this is why we're transitioning bit now because we kind of acknowledged that it's getting a little ridiculous on how they're valuing the whole company will I thought maybe you could comment on the <unk>.

Speaker 2: And for Will and I and the team, it gives us comfort to know that we have this sort of broad, diverse portfolio. This is the way we run things. And this is sort of why we're transitioning a bit now, because we kind of acknowledge that it's getting a little ridiculous on how they're valuing the whole company. Will, I thought maybe you could comment on the third quarter, what we've done year to date. Will, your thoughts at all?

Third quarter, what we've done year to date will your thoughts at all.

It will a second usually yes, no look.

Speaker 1: I I I wouldn't even comment on the third quarter specifically, but just the nine month ended, you know, if you look at where we are today compared to where we were September of last year, it's it's night and day revenues have grown, you know, we've we've solidified our balance sheet, we've eliminated virtually all of the debt at the company, right. And that's at the subsidiary level as well. I think we're reporting less than $2 million of total debt.

I I wouldn't even comment on the third quarter, specifically, but just.

The nine months ended.

Now if you look at where we are today compared to where we were September of last year.

It's night and day.

Revenues have grown.

Solidified our balance sheet.

Eliminated virtually all of the debt at the company right now.

That's at the subsidiary level as well.

I think we're reporting less than $2 million of total debt.

Speaker 1: Um, of which half of it is in our subsidiary in Israel.

Of which half of it is in our subsidiary in Israel.

So it's a strong balance sheet, we're not leveraged we're not in a position that.

Speaker 4: So it's a strong balance sheet. We're not leveraged. We're not in a position that

Doing any more financing transactions.

Our.

Speaker 1: necessary in order to meet debt obligations. And I think we can all remember what that was back in 19 and really the early part of 2020. So it's allowed us this year to start focusing on

Necessary in order to meet debt obligations and I think we can all remember what that was back in 19 and really at the early part of 2020.

So it's allowed us this year to start focusing on.

Speaker 1: on really the initiatives that we've outlined. If you go back and look, I would say these started really in December of 2020 when we acquired the data center.

On really the initiatives that we've outlined if you go back and look I would say these started really in December of 2020, when we acquired the data center.

Speaker 1: you know, it was a, it was a strategic acquisition. And it was, it was nice, because that was the really what allowed us to enter into cryptocurrency, to the extent that we wanted to, which was on a bigger scale, much bigger scale than we'd previously attempted back in 2018. So 2021 has been, it's, it's, it's been fantastic for the company.

It was a it was a strategic acquisition and it was it was nice because that was the really what allowed us to enter into.

To the extent that we wanted to which is on a bigger scale much bigger scale than we'd previously accepted back in 2018. So.

2021 has been.

It's it's been fantastic for the company.

Yes, I want to emphasize what will just said he said that we don't really need it you don't need to raise the money to service debt and that's really important because all of our future capital and the flexibility of future capital is based on the idea that we are current operations don't need money to service that debt. The debt is actually inconsequential amount at this point.

Speaker 2: and the flexibility of future capital is based on the idea that our current operations don't need money to service that debt. The debt is actually inconsequential now at this point with a quarter, you know, $225 million give or take balance sheet.

With a quarter or 225 million give or take balance sheet. The debt isn't is literally less than 1% of the balance sheet. So we're very happy there, where we don't have to deal with that and obviously the lender contributes to cash flow along with a ramp up in mining for sure. Although we have not sold a bitcoin to date.

Speaker 2: The debt is literally less than 1% of the balance sheet. So we're very happy there. Well, we don't have to deal with that.

Speaker 2: And obviously, the lender contributes to cash flow along with a ramp up in mining for sure, although we have not sold Bitcoin to date.

Speaker 2: Will, I wanted you to talk a little bit about the structure we have set up. We did file a shelf, and we do have a lot of flexibility to go do preferreds and obviously take on debt. Can you talk a little bit about your thoughts on leverage and our ability to leverage, given our free cash flow we think we're going to generate in 2022 and 2023?

Well I wanted you to talk about a little bit about structure. We have setup, we did file a shelf and we do have a lot of flexibility to go do preferreds and obviously take on that can you talk a little bit about your thoughts on leverage and our ability to leverage given our free cash flow, we think we're going to generate and to 'twenty two.

<unk> thousand 22, and 'twenty three.

Sure. So again historically when we were doing financings. It was to service debt because we had a lot of subsidiaries a lot of early stage.

Speaker 1: Sure. So, again, historically, when we were doing financings, it was the service debt, because we had a lot of subsidiaries, a lot of early stage businesses in some regards, because they weren't generating positive cash.

Businesses in some regards because they weren't generating positive cash flows.

Speaker 1: Now, as we transform the company, we're looking at entities that will be cash flow positive. BitNile is a perfect example of that. As you have companies that are creative and are generating cash flow, it puts you in a situation where you can go out and raise debt in order to expand the business significantly.

Now as we transform the company, we're looking at entities that will be cash flow positive.

<unk> is a perfect example of that and as you have companies that are accretive and are generating cash flow.

It it puts you in a situation where you can go out and raise debt in order to expand that spanned the business significantly.

Speaker 1: So we are looking at that. It's something we're considering. We've not made any.

So we are looking at that and it's something we're considering.

We've not made any decisions at this point, though.

Yes, I think theres, yet that will important saying one of the.

Speaker 3: Yeah, I think that will important thing. You know, 1 of the 1 of the things that Chris brings to the table is.

One of the things that Chris brings to the table.

Speaker 3: He's a guru in structuring these financing transactions so that they can stay within the entity that's being financed. I know we have some acquisitions teed up with very positive EBITDA that we can leverage.

Drew in structuring these financing transactions so that they can stay stay within the entity, that's being financed and though we have some acquisitions cheetah.

Very positive EBITDA that we can leverage in.

So have some south can change yet within the entire company I know Chris is actively working on a couple of those.

Speaker 3: to have some self-contained debt within that target company. I know Chris is actively working on a couple of those.

Yes, Chris Chris brings a lot of financing power from <unk> and his background at Karl Marx and really the ability for us to do nonrecourse financing at the subsidiary level and that's a really important factor here also Chris has been working with the team to allow us when we expand our miners to be able to borrow money from an <unk>.

Speaker 2: Yeah, Chris brings a lot of financing power from Tanejo and his background at Karl Marx, and really the ability for us to do non-recourse financing at the subsidiary level, and that's a really important factor here. Also, Chris has been working with the team to allow us, when we expand our miners, to be able to borrow money.

Speaker 2: from an equipment financing perspective too. And this is a really important component of how you look at the company going forward. Cause we have a lot of levers to pull in terms of equity versus debt versus equipment financing, et cetera. So really kind of a maturity that's happening to a holding company. And now that separation is going to sort of take it to the next level. Let's go through the transition real quickly here.

Equipment financing perspective, too and this is a really important component of how you look at the company going forward because we have a lot of levers to pull in terms of equity versus debt versus equipment financing et cetera, So really kind of a maturity that's happening to a holding company and now that separation is going to sort of take it to the next level, let's go through the transition.

Quickly here.

Speaker 2: Will, do you want to add anything to this slide before I get started? This is sort of the new path of what we think things look like going forward.

Well, what do you think where do you want to add anything to this slide before I get started this is sort of the new path.

What we think things look like going forward, yes.

Speaker 4: Yeah, I mean, I think this is a logical outcome if you look back and if you look at what really I think we've signaled to the market over the last 10, 11 months, and that is that Nile is going to become a significant standalone entity. And if you look at the recent purchases that we've announced of miners. You know, we're talking close to $200 million in the aggregate.

Yes, I mean, I think this is a logical outcome.

If you look back and if you look at what really I think we've.

Signaled to the market over the last.

10, or 11 months and that is bit Niall is going to become a significant.

Standalone entity.

Look at the recent purchases that we've announced of miners.

We're talking close to $200 million in the aggregate.

For the year.

For the miners so.

Speaker 1: For the miners, so having that significant of a balance sheet, and then, of course, the resulting revenues that will be derivative of that it just it makes sense to.

Having that significant of a balance sheet and then of course, the resulting revenues that will be.

Derivative of that it just it makes sense too.

Speaker 1: position this as a stand-alone company and move forward with it.

Position this as a standalone company and move forward with that.

Speaker 4: And again, it's very distinct and different from Alt Alliance, which, as Todd will point out, is the holding company structure where you've got multiple companies that are

And again, it's very distinct and different from off alliance, which as Todd will point out is the holding company structure, where if not multiple companies that are.

Speaker 1: basically maturing until they're in a situation like bit Nile where they can be ultimately fun out.

Basically maturing until they are in a situation like bitt now where they can be ultimately spun out.

Speaker 2: Chris, I wondered if you had any commentary here about the new structure. I know you're a pretty big component of it and a big fan of it. Maybe you can touch on DeFi a little bit.

Chris I wondered if you had any commentary here about the.

The new structure, I know, you're a pretty big component of it and a big fan of it and maybe you could touch on <unk> a little bit.

Well I'm pretty excited about the transformation this because across all of our platforms, we really have.

Speaker 5: Well, I'm pretty excited about the transformation just because across all of our platforms, we really have.

An opportunity to optimize the assets so that various investor base, we can take advantage of them.

Speaker 5: an opportunity to optimize the assets so that various investor bases can take advantage of them. And as we discussed earlier, you know, our strategies to help

And as we discussed earlier.

Our strategy is to help grow.

Speaker 5: will be very significant, especially in expanding.

We will be very significant especially in expanding.

Speaker 5: blockchain technology, which we believe is very transformative and one of the most important innovations of our time. And therefore, we are evaluating the development of and investments in a variety of blockchain technologies, of which decentralized finance is critical, DeFi for short.

Chain technology, which we believe is very transformative and one of the most important.

<unk> of our time and therefore, we are evaluating the development.

<unk>.

Investments in.

A variety of blockchain technologies.

Decentralized finance is critical D side for sure.

Speaker 5: So we believe that DeFi will also be quite additive strategically to BitNile as a miner, which will be an essential pillar.

So we believe that <unk> will also be quite additive strategically to bid now.

As a as a miner, which will be a central pillar.

Speaker 5: in the cryptocurrency ecosystem. So I'm pretty interested to expand beyond just mining as well.

In the crypto currency ecosystem so.

Pretty interested to expand beyond just mining as well.

So I ask everyone on the call to look at this chart understand this is really an earnings power story, but two different kinds of earnings power, you'll see the earnings power of the data center and our mining capabilities and this really changes the narrative because we are at I think about $18 million a year now and as we put 300 <unk>.

Speaker 2: So I ask everyone on the call to look at this chart, understand this is really an earnings power story, but two different kinds of earnings power. You see the earnings power of the data center and our mining capabilities.

Speaker 2: And this really changes the narrative because we are at, I think, about 18 million a year now, and as we put 300 new miners on a month, and then going to March, we'll be putting 2,300 miners a month in. This is not a long-term vision. This is happening right now in real time. We've already had delivery of 1,000, and then 300, and then 300 every month for 10 months.

<unk> on a month and then going to March where we will be putting 2300 miners a month and this is not a long term vision. This is happening right now in real time, we've already had delivery of 1000, and then 300 and then 300 every month for 10 months starting in March 2000, a month.

Speaker 2: starting in March 2000 a month for six months. And then in August , we ramp up with those green miners, which is the relationship with Bitmain. And I can't stress enough to you, that direct relationship with Bitmain has sort of changed the narrative. But on the other side, Alt Alliance, you see an earnings and EBITDA story, especially with the lender, with Agree, the real estate business. Turn on Green obviously is a high growth business that hasn't kicked in yet. And we anticipate, still anticipate,

For six months and then in August we ramp up with those green miners, which was the relationship with bid, Maine and I can't stress enough to you that direct relationship with bit maintenance sort of change the narrative, but on the other side of the alliance you see in earnings and EBITDA story, especially with the lender with agree the real estate business I turn on Green, obviously is a high growth.

That hasnt kicked in yet and we anticipate still anticipate.

Speaker 2: And I've been planning that that would eventually float or do some sort of public transaction, either with a SPAC or an IPO. All things are on the table there. We're not confirming anything there, but we know that Gresham.

And had been planning that that would eventually float or do some sort of public transaction, either with <unk> or an IPO all things are on the table. There we're not confirming anything there, but we know that Gresham and turn on green are looking to do their own public transactions. So a lot of opportunity for future shareholders and if you're a shareholder.

Speaker 2: and turn on green are looking to do their own public transactions. So a lot of opportunity for future shareholders. And if you're a shareholder of BitNile Holdings, the old DPW, AltGlobal, when it changes names, you'll wake up with Alt Alliance in your portfolio someday. So it's important to understand you're going to own two public companies.

A bit now holdings the old DPW global when it changes named you'll wake up with Ultra Alliance in your portfolio someday. So it's important to understand you're going to own two public companies.

Speaker 2: Here's the scalability of the mining business and what I talked about in terms of delivery, the 16,000 miners and the 4,600 miners. I do want to bring it to everyone's attention that we did buy an additional 600 miners. We did disclose that in our 8K, but we haven't issued a press release with it because it's now, if you think about it, not as consequential.

Here's the scale ability of of the mining business and what I talked about in terms of delivery of 16000 miners and a 4600 miners I do want to bring to everyone's attention that we did buy an additional 600 miners we did disclose that in our 8-K, we haven't issued a press release.

With it because it's now do you think about it not as consequential.

Two the size of the miners, we have and the scale. We have Ken can you talk about this chart here the hash rate I'm very proud of the fact that this hash rate is a certain percentage of all bitcoin mine, depending on total hash rate so can any thoughts here.

Speaker 3: to the size of the miners we have and the scale we have. Ken, can you talk about this chart here, the hash rate? I'm very proud of the fact that this hash rate is a certain percentage of all Bitcoin mined depending on total hash rate. So Ken, any thoughts here? Yeah, this is what's exciting when we think about BitNile.

Yes. This is this is what's exciting when we think about it now.

<unk>.

Speaker 3: in the fairly near term being a standalone public company. Because it would be a pure play crypto miner with data centers and some DeFi initiatives.

In the near fairly near term.

Standalone.

Public company, because it would be a pure play crypto miner with.

Data centers defy initiatives.

Speaker 3: As we install these 2600 miners, there's 4600 of them are at a higher hash rate, 140 terahash. And it brings the total company to 2.2.

As we have a solid 2600 miners. There is 4600 of them are at a higher catch rate 140 chair hash.

And it brings the total company to two two.

Actually hash and.

At <unk>.

Speaker 3: at $60,000 to $65,000 per Bitcoin where we've been over the last few weeks.

60 to $65000 per bitcoin, where we've been over the last few weeks.

Speaker 3: We get to 300M in revenue. Think about our year-to-date revenue through nine months of 44M.

We get to $300 million in revenue think about our year to date revenue through nine months of $44 million.

This quarter and then we'll we'll exit 2022.

Speaker 3: This quarter, and then we'll probably we'll exit 2022.

Speaker 3: As we ramp up to these 20,600 miners, we'll be at a running rate of probably $300 million, depending on market. You always have to put an asterisk on these forecasts that depends on where the market is, difficulty level, and the market price.

Yes.

As well.

As we ramp up to these 20600 miners will be the running rate of probably $300 million.

Depending on market I always kind of have to put an asterisk on these forecast.

Forecast that it.

Depends on where the market is difficulty level and.

Speaker 3: you know, the US dollar price of Bitcoin. But it's very exciting. It pencils out great in Excel, as you can see on that table. But what was exciting is when we put in the first thousand miners in Michigan last month.

The U S dollar price of bitcoin.

It's very exciting.

<unk>.

But what was exciting is when we put in the first thousand miners in Michigan last month.

Speaker 3: They're performing just as we scheduled out in our model. So it's good to see as the rubber is hitting the road.

They're performing just as.

To be scheduled out.

Our model so it's good to see when the reverse as the rubber is hitting the road.

Speaker 3: that the revenue and the margin are penciling out as we projected. So now it's just a matter of getting in the new machines, racking them up. Crypto Joe, who's on our team, has done a great job with that, been working very hard. Seeing the data center, it's beautiful, it's clean, there's a lot of space. And...

The revenue and the margin are penciling out as we've projected so now it's just a matter of getting in the new machines Rockingham Crypto, Joe who is our team has done a great job, which has been working very hard seeing.

Seeing the data center, it's beautiful it is claimed modest space.

And.

<unk>.

Speaker 3: And so, and we're ramping up the power capacity there. And so, yeah, we're definitely very excited about that.

So we're ramping up the power capacity there.

So yes, we're definitely very excited about this.

Speaker 2: I would say Crypto Joe, Darren, the team, Randy, the people, Cesar, others that have joined us in Michigan to help build that out as we develop that team. Brian there in Michigan, that data center is really incredible. I've done some live video there. It's really the forefront of what's going to happen with BitNile going forward, the relationship with Bitmain and that data center. I do want to bring everyone's attention to assuming Bitcoin of 30 to 40,000 in current difficulty levels.

Say crypto, Joe Darrin the team Randy.

CS or others that have joined us in Michigan to help build that out as we develop that team.

Brian There in Michigan that data center is really incredible I've done some live video there, it's really the forefront of what's going to happen with bit now going forward the relationship with <unk> and that data center.

I do want to bring everyone's attention to assuming bitcoin of $30 to 40000 occurring difficulty levels, we'll still mined $139 million to $185 million at a depressed price.

Speaker 2: will still mine $139 to $185 million at a depressed price.

Speaker 2: So we were not foolish enough to underwrite this with like the perfect weather, as you sort of speak. We're not out there saying, hey, we got a hundred thousand dollar Bitcoin.

So we we're not foolish enough to underwrite this with like the perfect weather as you sort of speak we're not out there, saying, Hey, we got 100000 or bitcoin and if you look at the chip shortage and understand the difficulty scale. There are still asked nine producing today five six years later and so we're upgrading.

Speaker 2: And if you look at the chip shortage and understand the difficulty scale, there are still S9s producing today, five, six years later. And so we're upgrading sort of the top of the mining pool, the best miners in the world with the 140 terahash. So you can see we're investing, we're here to win it. We're in it to win it, we're investing to be there. Will, any commentary on what we're doing in mining? I know that your mathematical brain has been at work here.

Sort of the top of the mining pool, so the best miners in the world with the 140 <unk>. So you can see we're investing we're here to win it we're in it to win it we're investing to be there will any commentary on what we're doing in mining I know that your mathematical brain has been at work here.

Speaker 1: Hey, I think Ken has done a good job explaining it. It's it's exciting. You know, if you go back and again, we're looking at history here. But in 2018, we wanted to get to 10,000 miners. And, you know, you brought up the S9s. Obviously, that was our original entry into cryptocurrency mining.

I think Ken has done a good job explaining it.

Exciting.

Go back in and again, we're looking at history here, but in 2018, we wanted to get to 10000 miners and you brought up the <unk>, obviously that was our original entry into cryptocurrency mining.

Speaker 1: Things have changed, it's transformed. We have a data center, we're able to control the operations 100%. We've got a good handle on our electricity costs, our power costs, which obviously is the primary driver in your overall profitability. The new miners are so much more efficient than where the S9s were. It's really changed the entire dynamics of that industry. I could be more excited and that's why I think now is the right time.

Things have changed it's transformed we have a data center, we're able to control.

On the operations, 100%, we've got a good handle on our our electricity costs are power cost, which obviously.

Is the primary driver in your overall profitability.

And the new miners are so much more efficient than where the <unk> where it's.

It's really changed the entire dynamics of that industry. So I couldn't be more excited and that's why I think it's now is the right time to.

Speaker 4: to put in place the transformation of the company.

To put in place this transformation of the company.

One thing to know that we do publish on the <unk> website every two weeks number of miners installed and bitcoin mind, and we will be committing to once a month putting out a press release of total Bitcoin mine. This is important to us we want to be transparent we want to sort of show the shareholders that we're very committed to this process.

Speaker 2: Hey, one thing to know that we do publish on the BitNile website every two weeks, number of miners installed in Bitcoin mined. And we will be committing to once a month, putting out a press release of total Bitcoin mined. This is important to us. We want to be transparent. We want to sort of show the shareholders that we're very committed to this process. And like I said earlier, if you look at what we mined in all nine months, we're doing that, we're doing more than that, a lot more than that on a monthly basis and growing. So you would be expecting that.

And like I said earlier, if you look at what we mined in all nine months, we're doing that we're doing more than that a lot more than that on a monthly basis and growing so you would be expecting that.

Speaker 4: Well, and it's important to understand that, Todd, that, you know, when we started putting in the S-19s, those effectively went in at the very tail end of September , and then, of course, completed that initial installation in October . So these assets have just been put in.

It's important to understand that Todd that when we started putting in the 19th.

Those effectively went in at the very tail end of September.

And then of course completed that initial installation in October. So these assets have just been put in service.

Speaker 2: Yeah, I will. It's a very good point. And that is we get a lot of people questioning things.

Right.

It's a very good point and that is we get a lot of people questioning things, but you got to look at timing from the time, we restructured the balance sheet completed the $200 million of raze and by the way. Thanks for all the shareholders and we're supportive during the ATM process. We raised a lot of money really transform the company and this is why we are trying to reward.

Speaker 2: But you got to look at timing from the time we restructured the balance sheet, completed the $200 million of raise. And by the way, thanks for all the shareholders that were supportive during the ATM process. We raised a lot of money, really transformed the company. And this is why we're trying to reward shareholders with sort of this pure play. It isn't a sort of, it is a pure play in mining DeFi and data. And we want to be a player here. And one of the things we're looking at going forward, you see a number and say, wow, what if they generated 200 million, 300 million?

Shareholders with sort of this pure play isn't it sort of it is a pure play in mining <unk> and data and we want to be a player here and one of the things. We're looking at going forward you see a number and say Wow, what does they generated 200 million $300 million what are they going to do with that money, obviously, a lot of flexibility there with no debt, we're obviously going.

Speaker 2: are they going to do with that money? Obviously a lot of flexibility there with no debt. We're obviously going to pay down any financings we do to continue to buy more miners and

Pay down any financings, we do to continue to buy more miners and expand but you'll also see an opportunity for us to continue to invest in a hash rate and thats why youre going to see us pretty.

Speaker 2: But you also see an opportunity for us to continue to invest in the hash rate. And that's why you're going to see us.

Speaker 2: pretty much continually go out there and look for additional miners as we start to generate cash with that relationship with Bitmain. You can see that in our commitment to the 4,600 new XP, the green miners with the carbon credit. Really a fascinating transaction we did in Dubai.

Pretty much continually go out there and look for additional miners.

As we start to generate cash with that relationship with <unk> and you can see that in our commitment to the 4600, new XP the green the.

Green miners with the carbon credit really.

Fascinating transaction, we did in Dubai.

Speaker 2: Going on to Alt Alliance, we don't list every subsidiary here. And I want to bring in Chris for the conversation about potential acquisitions. Now, Chris, obviously these transactions are not done and we're contemplating them. But could you talk in general about the kind of transactions you look like? I want everyone to shift their focus from high growth.

Going onto <unk> Alliance.

We don't list every subsidiary here.

And I want to bring in Chris for the conversation about potential acquisitions or Chris. Obviously these transactions are not done and we're contemplating them, but if it could you talk in general about the kind of transactions you look like I want everyone to shift their focus from high growth.

Sort of parabolic revenue growth, which is where we'll be looking at bit now sort of a steady as she goes EBITDA model, Chris Your thoughts sure Todd as well.

Speaker 5: sort of parabolic revenue growth, which is where we'll be looking a bit now, sort of a steady as she goes EBITDA model. Chris, your thoughts? Sure, Todd. Well, I think that's one of the opportunities that we've been actively focused on since I joined the company in July .

I think that's one of the opportunities that we've been actively focused on since I joined the company in July.

Speaker 5: And we are very actively pursuing companies that are stable insofar as recurring revenue with appropriate EBITDA margins.

And and and we are.

Very actively pursuing come.

Companies that are.

Stable insofar as recurring revenue.

With.

Appropriate EBITDA margins and so.

Speaker 5: What we're hoping to do strategically is across our platforms, obviously, unlock the value and then now, but also from an alt alliance perspective, provide shareholders with opportunities that they will be able to see.

When we're hoping to do strategically is across our platforms, obviously unlock the value and then now but also from an ultra alliance perspective.

<unk> provides shareholders with opportunities that they will be able to see.

Speaker 5: I don't want to say conventional, but more mature companies going through a secular phase in their growth.

I don't want to say conventional but.

More mature.

Companies going through a secular phase in their growth.

Speaker 5: and therefore an appropriate juncture requiring capital from Alt Alliance to reposition them. But at the same time, they're already mature from a development standpoint and therefore, you know, what we're guiding towards.

Therefore, an appropriate juncture requiring capital from volatile alliance to reposition them.

But at the same time.

They are already mature from a development standpoint, and therefore.

What we're guiding towards.

More longer term is to provide.

Revenue and EBIT.

The quantum that's meaningful and I also believe that applies to agree.

Speaker 5: Where, you know, obviously that's a new entity with no assets at the moment, but we don't expect that to be the case in the subsequent quarters moving forward. And again, what we're looking for in terms of agree is commercial real estate with the types of.

Obviously, that's a new entity with no assets at the moment, but we don't expect that to be the case.

In the subsequent quarters moving forward and again, what we're looking for in terms of agree is commercial real estate, where the types of.

Net operating income that people would understand from a real estate perspective.

Speaker 5: net operating income that people would understand from a real estate perspective.

I'm going to go on to the next slide.

Speaker 2: Let's talk about the reorganization. Based on what we're doing now, the company will change its name before the end of the year. We already secured the symbol Nile NILE. That'll be the new DPW symbol. The new name will be BitNile Holdings, which will effectively own the data center, the mining operation, and the DeFi initiatives we have. Some things that we're contemplating for 2022,

Let's talk about the reorganization based on what we're doing now the company will change its name before the end of the year, we already secured the symbol now Nio that'll be the new DPW assemble the new name will be big.

But now holdings, which will effectively on the data center.

The mining operation and <unk> initiatives, we have some things that we're contemplating for 2022.

Speaker 2: based on the reorganization. We're looking at special dividends. We really wanted to look at the possibility of being a company that issued Bitcoin as a dividend.

Based on the reorganization, we're looking at special dividends, we really wanted to look at the possibility of being a company that issue bitcoin as a dividend.

To our shareholders.

Speaker 2: This is a complicated thing, because you have to have a wallet, you have to be able to make it available through DPC, so it goes in your brokerage account. Not a simple thing, we're working on that. Obviously, you could always pay a cash dividend, and if you see that big kind of generation that we think we're going to have in 22 and 23 and beyond, on the BitNile side, these are contemplated transactions.

This is a complicated thing because you have to have a wallet you have to be able to make it available through DTC. So goes in your brokerage account not a simple thing we're working on that obviously you can always pay a cash dividend. If you see that big kind of generation that we think we're going to have in 'twenty, two and 'twenty three and beyond on the <unk> side. These are contemplated.

Transactions.

Speaker 2: For the future, BITNOW will continue to mine operations, strategic procurement of geographical locations in terms of mining power. As we expand out of Michigan, we'll be looking at other data centers to expand.

For the future, but now we'll continue to mine operations strategic procurement of geographical locations in terms of mining power as we expand out of Michigan will be looking at other data centers to expand.

We want to be at the sort of the top of the food chain that means being in the top 10% out there.

Speaker 2: we want to be at the top of the food chain, that means being in the top 10% out there.

And then of course as.

Speaker 2: As we said earlier, for initiatives, we're gonna be looking at future acquisitions on the Opal Alliance side. So what's gonna happen in December , you're gonna wake up with a new symbol and a new name. And then really what you're gonna hear going forward is pretty much DeFi Bitcoin data. And you're gonna have the subsidiary waiting in the wings to be a special dividend, obviously for shareholders.

As we said earlier for initiatives, we're going to be looking at future acquisitions on the OCA Alliance side, So what's going to happen in December you're going to wake up with a new symbol on the new name and then really what youre getting here going forward is pretty much defy bitcoin data and you're going to have the subsidiary waiting in the wings to be a special dividend obviously.

For shareholders.

Speaker 2: You could do the math. If everyone does the math, it could be a large special dividend. But we'll see what happens. Will, any comments on the initiatives for 2022?

You can do the math if everyone does the math it could be a large special dividend, but we'll see what happens well any comments on the initiatives for 2022.

Yeah.

Will you muted.

Again, I apologize knowing here no. So 2022 is real simple, it's a continuation of 2021 to the extent that we're talking about execution right.

Speaker 4: Yeah, I apologize. No, I'm here. No, so 2022 is real simple. It's a continuation of 2021 to the extent that we're talking about execution, right?

Speaker 1: putting capital to work and advancing the operations of our subsidiaries. BitNile obviously is a significant

Putting capital to work and.

Advancing the operations of our subsidiaries that Nile, obviously is a significant.

Entity.

Speaker 1: entity from the standpoint of cash requirements and capital expenditures and investment. And the other companies, it's much more modest.

From the standpoint of the cash.

Cash requirements and capital expenditures and investments.

And the other companies.

It's much more modest.

Alright, Ken any comments on the slide of the sort of initiatives for 2022.

Speaker 2: All right, Ken, any comments on the slide of the sort of initiatives 2022?

Yeah, Yeah, it's important to understand that.

Speaker 3: Yeah, yeah, it's important to understand that.

That we need to be.

Speaker 3: that we need to, this will be at a point where we have that capital available for dividends. Historically, if we have capital, we're investing it back in the business. We saw the numbers on the previous slide. If we're doing 300 million in revenue at 90% margin, that's a lot of capital available. And you would think we'd be carving out some of that to reward back to our shareholders.

The point, where we have that capital available for dividends historically, if we have capital we're investing it back in the business.

You saw the numbers on the previous slide if we're doing a $300 million in revenue and 90% margin that's a lot of capital available.

You would think would be.

Carving out some of that.

Reward back to.

To our shareholders.

So.

Speaker 3: And of course leave it to Todd to want to do something cutting-edge like they do it in crypto, but so we'll look at that We'll get that figured out

And and of course leave at this Todd do you want to do something cutting edge.

Dividend in crypto.

We will look at that we will get that figured out.

Speaker 2: Hey, if we can, we can, we'll see what happens there. Well, obviously, the disclaimer on the bottom, you'll see some of this Delaware law and profitability of Bitcoin mining and approval from the board. But this is something that I'm pretty fond of the idea. I mean, it's cutting edge. I know it's not been done. We're looking at it pretty hard, but we're pretty excited what we built and there we go, right? Sort of wrapping up the summary for the future, the name change, symbol change, denial.

Hey, if we can we can we will see what happens there obviously the disclaimer on the bottom you'll see southern Delaware law and profitability of Bitcoin mining and approval from the board, but this is something that that I'm pretty fond of the idea.

I mean, its cutting edge I know it has not been done we're looking at it pretty hard.

But we're pretty excited about what we built there we go right.

Sort of wrapping up the summary for the future of the name change symbol change denial.

Restructuring the two subsidiaries, obviously a bit now with control Alliance cloud services and the mining operation.

Speaker 2: We're structuring the two subsidiaries. Obviously, BitNile will control Alliance Cloud Services and the mining operation. Alt-Alliance will control Gresham, turn on green digital power and agree. And the other subsidiaries, there's quite many of them. Some of them smaller in size, not really relevant today. The possibility of a special Bitcoin dividend, we're going to look at that. Bi-weekly updates.

Although last well control Gresham turn on Green digital power and agree and the other subsidiaries theres quite many of them some of them smaller in size not really relevant today the possibility of a special bitcoin dividend, we're going to look at that by weekly updates.

On what we're mining so very transparent on the mining side update on potential defy investments, which we're looking at pretty intensely and then update on future and corporate developments. So look for the name change in December and then look for that special dividend sometime in 2022.

Speaker 2: on what we're mining. So very transparent on the mining side, update on potential DeFi investments, which we're looking at pretty intensely, and then update on future and corporate developments. So look for the name change in December , and then look for that special dividend sometime in 2022.

Speaker 2: As sort of we wrap this up, Chris, any parting thoughts?

As sort of we wrap this up Chris any parting thoughts.

Good afternoon, Chris.

Speaker 5: Not really, I think you summed it up, Todd. This is a seminal time, as you've already stated in your press release, and we believe this unlocks value for shareholders.

Not really I think you summed it up Todd. This is a seminal time as you've already stated in your press release, and we believe this unlocks value for shareholders and we appreciate that Chris. Thank you. So much for joining us obviously will any any parting thoughts.

Speaker 2: We appreciate that, Chris. Thank you so much for joining us, obviously. Will, any parting thoughts?

Speaker 4: Um, look, I think 2021 has been a success to date. I think we've done a fantastic job raising capital. I know we announced the completion of the $200 million APM. If you look at our average costs that we were selling securities under that equity financing, you know, it was a

Look I think 2021 has been our success to date I think we've done a fantastic job raising capital.

We announced the completion of the $200 million ATM.

If you look at our average cost that we were selling securities under that.

Equity financing.

Yeah. It was.

It was significantly above where the company is trading at today so.

Speaker 4: It was significantly above where the company is trading at today. So.

Speaker 4: That's 3.81 average, 3.81 average, great average. You know, we were able to bring in money on a very, very favorable term. And again, this is something that we've struggled to do historically. So, that and the prospect.

That's really one average created.

Great.

We were able to we were able to bring in money on a very very favorable term and again. This is something that we've struggled to do historically, so that and the prospects.

Speaker 4: you know, future prospects for the company with the existing businesses. Um, you know, it's fantastic right now.

Future prospects of the company with the existing businesses.

It is fantastic right now.

Speaker 3: Yeah, I can say the same thing. Ken, any parting thoughts before we hang up here? Yeah, looking out a year from now, this is going to be, well, as you mentioned, Todd, looking back a year compared to today, it's night and day. But from where we are today, which we're very happy about, and looking ahead 12 months,

Yeah, I can say the same thing Ken any parting thoughts before we hang up here.

Yes look at looking out a year from now this is going to be well as you mentioned Todd looking back a year compared to today, It's night and day from where we are today, which are very happy about and looking at 12 months.

Speaker 3: It's going to be even a more dramatic improvement with the ramping up of mining and the acquisition, the key acquisitions that Chris is looking at.

Going to be even more dramatic improvement with the ramping up of mining and the acquisition, which acquisitions that Chris is looking at.

Speaker 3: Alta Lions could be at, you know, $200 million of revenue and significant EBITDA. And then, we've seen that BITS

Also.

At alliance could be it.

$200 million of revenue and significant EBITDA and then and then we have.

Seen the.

Sure.

That bid now have debt.

Speaker 3: you know, 200, 300 million run rate potential. So it's really, really.

200 $300 million run rate.

Potential so it's really.

Really exciting times for us very hard to give you a summer. Thank you can't so much. Thanks, everybody, who can give you a little quick of a summary, as we exit here a couple of things to think about and that is you've got two vehicles now bid now Ultra alliance one EBITDA cash flow story with significant revenue growth as Ken said, you have a really sort of pair.

Speaker 2: I just want to give you a summary. Thank you, Ken, so much. Thanks, everybody. We'll give you a little quick of a summary as we exit here. A couple of things to think about, and that is you got two vehicles now, BitNile, Alt Alliance, one EBITDA cash flow story, but still a significant revenue growth, as Ken said. You have a really sort of parabolic revenue growth around one of the most transformative technologies around, and that's blockchain with BitNile. And what we decided to do is really reward people now

<unk> revenue growth around one of the most in transformative technologies around and Thats blockchain with it now and what we decided to do is really reward people now.

Speaker 2: We could have went down the path of trying to spin out BitNile on an IPO, but we wanted to demonstrate to shareholders, because we know it's taken some time with TurnOnGreen and Gresham, and those haven't got public yet. We wanted to make sure we could really cut the umbilical cord and make this happen for shareholders now. And that's why we took the initiative of making the parent BitNile holdings and really changing the narrative. And as a shareholder, you're going to have a choice going forward. Do you hold onto the parabolic growth that is, we think BitNile, or do you?

Kind of went down the path of trying to spin out bit now an IPO, but we wanted to demonstrate to shareholders. Because we know it's taken some time with turn on green brush them. Those haven't got public yet we wanted to make sure we could really cut the umbilical cord to make this happen for shareholders now and that's why we took the initiative of making the parent bit down holdings and really changing that.

Narrative as a shareholder you're going to have a choice going forward do you hold onto the parabolic growth that is we think bit now or do you keep both and have ultra alliance in your portfolio. We really encourage you to think about the life as a value player with a future generation of our business as it owns buying undervalued assets.

Speaker 2: keep both and have Alta Alliance in your portfolio. We really encourage you to think of Alta Alliance as a value player with a future generation of businesses it owns, buying undervalued assets. Chris and myself and Will.

Chris and myself and will and the team finding things that we think are undervalued sort of the future of <unk> of the world, but really steady more earnings.

Speaker 2: and the team finding things that we think are undervalued, sort of the future bitmiles of the world.

Speaker 2: but really steady, more earnings, relative earnings, more EBITDA-focused than you see this sort of DeFi disruptive point at BitNile.

Relative earnings more EBITDA focused than you see this sort of defy disruptive point a bit now.

Speaker 2: So look for the name change, the symbol change. We appreciate everybody. We do know there's a lot of volatility in the quarterly earnings, and obviously we're gonna expect that. You can see that with things like Mullen and other IPOs that we've participated in the quarter. Appreciate the whole team sticking with us. Special thanks to all the shareholders that have been so loyal and stuck with us through that ATM. We'll see what the future brings. We'll see you at year end and going into the new year. Happy Thanksgiving to everybody. Thanks for being on the call.

We'll see you at year end and going into the new year happy Thanksgiving everybody. Thanks for being on the call.

Everybody.