Business Context and Reporting Period
Company: Hyperscale Data, Inc. (GPUS)
Filing Type: Form 8-K (Current Report)
Reporting Date: December 16, 2024
Event Date: December 13, 2024 (Closing Date)
The Company, through its wholly owned subsidiary Third Avenue Apartments LLC, completed the sale of a real property asset located in St. Petersburg, Florida.
Key Financial Metrics
Transaction Value: $13,000,000 (Sale price of the Property)
Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide a clear value for these general financial metrics. This report focuses solely on the specific asset disposition.
Material Changes
- Asset Disposition: The Company disposed of real property located at the southeast corner of 5th Street North and 3rd Avenue North in St. Petersburg, Florida.
- Buyer: The property was sold to CatsMirror Lake, LLC.
- Agreement: The sale was executed pursuant to a contract of sale, as amended, entered into between Third Avenue Apartments and the Buyer.
Guidance, Outlook, and Risks
Management Commentary: The Company issued a press release on December 16, 2024, announcing the disposition. The filing includes standard forward-looking statement disclaimers regarding risks and uncertainties that could cause actual results to differ from anticipated results.
Risks and Contingencies: The filing notes that forward-looking statements involve inherent uncertainties. No specific new risks or contingencies related to the sale were detailed beyond the standard legal disclaimers.
Investor Verification Checklist
- Verify the final closing date of December 13, 2024, and the receipt of the $13,000,000 sale proceeds.
- Review the attached Exhibits 10.1, 10.2, and 10.3 for the full terms of the Sale Agreement and amendments.
- Confirm the impact of this asset sale on the Company's consolidated balance sheet and future liquidity position.
- Check the press release (Exhibit 99.1) for any additional strategic context regarding the divestiture.