UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

(Rule 13d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

§ 240.13d-2(a)

 

(Amendment No. 3)1

 

Ikonics Corporation

(Name of Issuer)

 

Common Stock, $0. 10 par value

(Title of Class of Securities)

 

45172K102

(CUSIP Number)

 

Milton C, Ault III

AULT GLOBAL Holdings, Inc.

Formerly Known as DPW Holdings, Inc.

11411 Southern Highlands Parkway, Suite 240

Las Vegas, NV 89141

(949) 444-5464

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

June 25, 2021

(Date of Event Which Requires Filing of This Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this Schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

 

_______________

1             The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

     
 CUSIP No. 45172K102

 

1

NAME OF REPORTING PERSONS

 

Ault Global Holdings, Inc.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

WC

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

 

2,000

8

SHARED VOTING POWER

 

0

9

SOLE DISPOSITIVE POWER

 

2,000

10

SHARED DISPOSITIVE POWER

 

0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,000

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARESo
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

0.10%

14

TYPE OF REPORTING PERSON

 

CO

 

  - 2 -  
 CUSIP No. 45172K102

 

The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned (“Amendment No. 2”) on January 14, 2021, as amended on January 27, 2021 and January 28, 2021 (the “Schedule 13D”). This Amendment No. 3 amends the Schedule 13D as specifically set forth herein.

 

Item 2. Identity and Background.

 

(a)       This statement is filed on behalf of Ault Global Holdings, Inc. (“AGH”), a Delaware corporation (the “Reporting Person”).

 

Set forth on Schedule A annexed hereto (“Schedule A”) is the name and present principal occupation or employment, principal business address and citizenship of the executive officers and directors of AGH. To the best of each Reporting Person’s knowledge, except as otherwise set forth herein, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.

 

(d)       Neither the Reporting Person nor any person listed on Schedule A has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

(e)       Neither the Reporting Person nor any person listed on Schedule A has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(f)       AGH is incorporated under the laws of Delaware. The citizenship of the persons listed on Schedule A is set forth therein.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

The Shares purchased by AGH as reported on the Schedule 13D were purchased with working capital in open market purchases. AGH expended an aggregate of $1,771,514.21 for the purchase of the Shares.

 

The Shares traded by AGH subsequent to the Schedule 13D reduced AGH’s aggregate expenditures by $4,379,029.00. Consequently, as of the date of this Amendment No. 3, AGH received an aggregate amount of $2,607,514.79 in proceeds from the sale of the Shares.

 

Item 5. Interest in Securities of the Issuer.

 

The aggregate percentage of Shares reported owned by the Reporting Person herein is based upon 1,977,854 Shares outstanding, which is the total number of Shares outstanding as of May 7, 2021, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 13, 2021.

 

(a) As of the close of business on June 28, 2021, the Reporting Person directly beneficially owned 2,000 Shares.

 

Percentage: Approximately 0.10%

 

(b) 1. Sole power to vote or direct vote: 2,000
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 2,000
4. Shared power to dispose or direct the disposition: 0

 

(c) AGH has not entered into any transactions in the Shares during the past sixty days except for the open market transactions conducted by its wholly-owned subsidiary Digital Power Lending, LLC set forth below.

 

  - 3 -  
 CUSIP No. 45172K102

 

Digital Power Lending, LLC

 

Digital Power Lending, a wholly-owned subsidiary of AGH, engaged in the following transactions in the Shares during the last 60 days:

 

Date Transaction Quantity Weighted Average Price
6-25-21 Sold 197,500 $22.10
6-28-21 Purchase 2,000 $20.83

 

(d) No person other than the Reporting Person is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

 

(e) Effective as of the close of business on June 28, 2021, the Reporting Person ceased to be the beneficial owner of more than five percent of the class of securities.

 

  - 4 -  
 CUSIP No. 45172K102

 

SIGNATURES

 

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated:    June 29, 2021

 

  AULT GLOBAL HOLDINGS, INC.
     
  By:  /s/ Milton C. Ault III
   

Milton C. Ault III

Executive Chairman

 

  DIGITAL POWER LENDING, LLC
     
  By:  /s/ David Katzoff
    David Katzoff
    Manager

 

  - 5 -  
 CUSIP No. 45172K102

 

SCHEDULE A

 

Directors and Officers of Ault Global Holdings, Inc.

 

Name and Position Principal Occupation  

Principal Business Address

 

Citizenship

Milton C. Ault, III

Executive Chairman

Executive Chairman of Ault Global Holdings, Inc.  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

USA

William B. Horne

Chief Executive Officer and
Vice Chairman

Chief Executive Officer of Ault Global Holdings, Inc.  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

USA

Henry Nisser

President, General Counsel
and Director

President and General Counsel of Ault Global Holdings, Inc.  

c/o Ault Global Holdings, Inc. 100 Park Avenue, 16th Floor

Suite 1658A,

New York, NY 10017

 

Sweden

Howard Ash

Independent Director

Chairman of Claridge Management  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

USA

Jodi Brichan

Independent Director

Independent Consultant  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

USA

Jeffrey A. Bentz

Independent Director

President of North Star Terminal & Stevedore Company  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

USA

Robert O. Smith

Independent Director

Independent Executive Consultant  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

USA

Moti Rosenberg

Independent Director

Independent Consultant  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

 

Israel

Kenneth Cragun

Chief Financial Officer

Chief Financial Officer of Ault Global Holdings, Inc.  

c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240,

Las Vegas, NV 89141

USA

 

 

 

 

 

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