Hyperscale Data Inc. 2025年季度报告

xQuarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period endedMarch 31, 2025 ¨Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the transition period from ________ to ________. Commission file number1-12711 HYPERSCALE DATA, INC. (Exact name of registrant as specified in its charter) 94-1721931(I.R.S. Employer Identification Number) (949)444-5464(Registrant’s telephone number, including area code) HYPERSCALE DATA, INC.TABLE OF CONTENTS PART I – FINANCIAL INFORMATION Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024F-1Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months endedMarch 31, 2025 and 2024F-3Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March PART II – OTHER INFORMATION Item 1.Legal Proceedings11Item 1A.Risk Factors12 Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements that involve a number of risks and uncertainties.Words such as “anticipates,” “expects,” “intends,” “goals,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” “will,”“would,” “should,” “could,” and variations of such words and similar expressions are intended to identify such forward-lookingstatements. In addition, any statements that refer to projections of our future financial performance, our anticipated growth and trendsin our businesses, uncertain events or assumptions, and other characterizations of future events or circumstances are forward-lookingstatements. Such statements are based on management’s expectations as of the date of this filing and involve many risks anduncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements.Such risks and uncertainties include those described throughout this Quarterly Report on Form 10-Q and our Annual Report on Form HYPERSCALE DATA, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS (continued)(Unaudited) COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY Preferred stock, $0.001par value -25,000,000shares authorized;2,160,267and2,029,450shares issued and outstanding at March 31, 2025 and December 31, 2024,respectively (liquidation preference of $79,630,000as of March 31, 2025)2,0002,000Class A Common Stock, $0.001par value –500,000,000shares authorized;1,429,995and1,259,893shares issued and outstanding at March 31, 2025 and December 31,2024, respectively1,0001,000 Class B Common Stock, $0.001par value –25,000,000shares authorized;4,995,724and4,998,597shares issued and outstanding at March 31, 2025 and December 31,2024, respectively The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. le8CraneServices,LLC(“Circle 1.DESCRIPTION OF BUSINESS Hyperscale Data, Inc., a Delaware corporation (“Hyperscale Data” or the “Company”) is a diversified holding companypursuing growth by acquiring and developing undervalued businesses and disruptive technologies with a global impact. Through itswholly and majority-owned subsidiaries and strategic investments, the Company owns and/or operates data centers at which it minesBitcoin and offers colocation and hosting services for the emerging artificial intelligence (“AI”) ecosystems and other industries, and The Company has the following reportable segments: •Energy and Infrastructure (“Energy”) – crane operations; •Technology and Finance (“Fintech”) – commercial lending, activist investing, and stock trading; •Sentinum, Inc. (“Sentinum”) – crypto assets mining operations and colocation and hosting services for the emergingartificial intelligence ecosystems and other industries; •TurnOnGreen – commercial electronics solutions; •ROI – AI software platform and a social gaming platform; and 2.LIQUIDITY AND FINANCIAL CONDITION As of March 31, 2025, the Company had cash and cash equivalents of $4.2 million (excluding restricted cash of$20.4million), negative working capital of $149.1million and a history of net operating losses. The Company has financed itsoperations principally through issuances of convertible debt, promissory notes and equity securities.These factors create substantial The condensed consolidated financial statements do not include any adjustments that might be necessary if the Company isunable to continue as a going concern. Accordingly, the condensed consolidated financial statements have been prepared based on the In making this assessment management performed a comprehensive analysis of the Company’s current circumstances,including its financial position, cash flow and cash usage forecasts, as well as obligations and debts. Although management has a longhistory of successful capital raises, the analysis used to determine the Company’s ability as a going concern does not include cash Management expects th