Hyperscale Data Expects To Gain $17.5 Mln From Avalanche Deconsolidation

(RTTNews) - Hyperscale Data, Inc. (GPUS), a diversified holding company, on Monday announced that it expects a one-time gain of around $17.5 million from the deconsolidation of Avalanche International, Inc. (AVLP). The gain is expected to take place in the first quarter.

The company says that this gain will have a significant impact on its balance sheet.

CEO of Hyperscale William Horne said, "The deconsolidation of Avalanche will result in the elimination of approximately $17.5 million in current liabilities and significantly improves both our working capital and our stockholders' equity and will help the Company solidify its long-term future."

In the pre-market trading, Hyperscale is 2.05% higher at $2.49 on the New York Stock Exchange.