Ault Disruptive Technologies Corporation Files Annual Report on Form 10-K
02 Mai 2022 - 12:30PM
Business Wire
Ault Disruptive Technologies Corporation (the “Company”)
today announced that on April 15, 2022, it filed its Annual Report
on Form 10-K for the year ended December 31, 2021 with the
Securities and Exchange Commission. In its Form 10-K, the Company's
audited financial statements contained an unqualified audit opinion
from its independent registered public accounting firm that
included an explanatory paragraph related to the Company's ability
to continue as a going concern.
The Company is a Special Purpose Acquisition Company, or SPAC,
and was formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization, or
similar business combination with one or more businesses (a
“Business Combination”). If the Company is unable to
consummate its Business Combination within 12 months following the
effectiveness of its initial public offering, which is December 15,
2022, it may, but is not obligated to, extend the period of time to
complete a Business Combination up to two times by an additional
three months each time (for a total of up to 18 months to
consummate a Business Combination). If the period of time is not
extended, the Company will be required to cease all operations
except for the purpose of winding up. These conditions raise
substantial doubt about the Company’s ability to continue as a
going concern for at least one year from the date that the
financial statement were issued.
This announcement is made pursuant to NYSE American LLC Company
Guide Section 610(b), which requires public announcement of the
receipt of an audit opinion containing a going concern paragraph.
This announcement does not represent any change or amendment to the
Company's financial statements or to its Annual Report on Form 10-K
for the year ended December 31, 2021.
About Ault Disruptive Technologies Corporation
Ault Disruptive Technologies Corporation, a Delaware
corporation, is a recently-organized blank check company
incorporated in February 2021 whose business purpose is to effect a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses, which we refer to as our initial business combination.
To date, our efforts have been limited to organizational activities
as well as activities related to our initial public offering. We
have not selected any specific business combination target and we
have not, nor has anyone on our behalf, engaged in any substantive
discussions, directly or indirectly, with any business combination
target with respect to an initial business combination with us.
While we may pursue an initial business combination opportunity
in any business, industry, sector or geographical location, we
intend to focus on opportunities to acquire companies with
innovative and emerging technologies, products or services that
have the potential to transform major industries and radically
impact society. We intend to acquire a target business or
businesses with disruptive technologies that our management team
believes can achieve mainstream adoption and create opportunities
for long-term appreciation in value.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company's annual report on Form 10-K filed
with the SEC. Copies are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220502005356/en/
Ault Disruptive Technologies Corporation
ir@aultdisruptive.com
Ault Disruptive Technolo... (AMEX:ADRT)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Ault Disruptive Technolo... (AMEX:ADRT)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024