Alzamend Neuro (ALZN) 13D/A: Ault Discloses 15.9% Stake

Alzamend Neuro, Inc. (ALZN) Schedule 13D/A amends prior disclosures to report beneficial ownership positions held by Milton C. Ault, III and affiliated entities.

Rhea-AI Filing Summary

Alzamend Neuro, Inc. (ALZN) Schedule 13D/A amends prior disclosures to report beneficial ownership positions held by Milton C. Ault, III and affiliated entities. The filing states 3,339,861 shares outstanding and reports that Mr. Ault may be deemed to beneficially own 606,321 shares, or approximately 15.9% of the common stock, through a combination of direct holdings, warrants and shares underlying Series B convertible preferred stock held by affiliated entities.

The filing also reports that Hyperscale Data, Inc. and Ault Lending, LLC may each be deemed to beneficially own approximately 15.5% (593,349 and 593,337 shares respectively). Other reporting persons (Horne, Nisser, Cragun, Katzoff) hold much smaller positions, generally representing shares and options exercisable within 60 days. Item 3 discloses sources of funds and aggregate purchase prices for specified holdings and instruments.

Positive

• Comprehensive ownership disclosure quantifying direct holdings, warrants and convertible preferred interests for Mr. Ault and affiliates
• Material percentage figures provided: 606,321 shares (approx. 15.9%) for Mr. Ault and ~15.5% for Hyperscale Data/Ault Lending, using a clear outstanding-share base (3,339,861)
• Itemized voting and dispositive power for each reporting person increases transparency about control and influence

Negative

• Concentrated ownership (~15–16%) by a single individual and affiliated entities may materially affect governance and voting outcomes
• Overlapping beneficial ownership among affiliated entities complicates independent shareholder voting dynamics

Insights

Securities Analyst

TL;DR Significant concentrated ownership: Mr. Ault and affiliated entities control roughly 15–16% of ALZN, disclosed via direct shares, warrants and convertible preferred interests.

The filing provides a clear ownership map: Mr. Ault's 606,321-share beneficial position (15.9%) aggregates direct shares, shares underlying Series B convertible preferred stock, and exercisable warrants across multiple affiliated entities. Hyperscale Data and Ault Lending are reported separately at ~15.5% each, reflecting overlapping economic interests. The statement quantifies voting and dispositive powers for each reporting person and cites a 3,339,861-share outstanding base used to calculate percentages, which is material for evaluating ownership dilution and voting influence.

Corporate Governance Expert

TL;DR Ownership concentration and shared voting/dispositive power are clearly disclosed, highlighting potential governance influence by related parties.

The filing documents both sole and shared voting and dispositive powers: Mr. Ault holds 1,843 shares of sole voting power and 604,478 shares of shared voting power. Affiliates (Hyperscale, Ault Lending, Ault Life Sciences, Ault Life Sciences Fund) are itemized with specific holdings and exercise rights. Item 3 details purchase prices for principal holdings and instruments, supporting transparency about how positions were funded. No transactions in the past 60 days are reported except as noted in Exhibit 1. This disclosure is thorough for investor assessment of control relationships.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares does Milton C. Ault, III beneficially own in ALZN?

The filing states Mr. Ault may be deemed to beneficially own 606,321 shares, approximately 15.9% of the outstanding common stock (based on 3,339,861 shares outstanding).

What percentage of ALZN does Hyperscale Data, Inc. and Ault Lending, LLC own?

Both Hyperscale Data and Ault Lending are reported as beneficially owning approximately 15.5% of the common stock (593,349 and 593,337 shares respectively).

What types of instruments contribute to the reported ownership?

Reported ownership includes direct common shares, shares underlying Series B convertible preferred stock, and currently exercisable warrants and stock options.

What share count was used to calculate the ownership percentages?

Percentages are calculated using 3,339,861 shares outstanding as reported to the reporting persons as of September 22, 2025.

Were any transactions in ALZN shares reported in the past 60 days?

The filing states none of the Reporting Persons engaged in transactions in the past 60 days except as set forth in Exhibit 1 to the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 09/23/2025 - 04:30 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

Alzamend Neuro, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

02262M605

(CUSIP Number)

MILTON C. AULT, III
c/o HYPERSCALE DATA, INC. 11411 SOUTHERN, HIGHLANDS PARKWAY, SUITE 190
Las Vegas, NV, 89141
(949) 444-5464

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/19/2025

(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.

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).

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

MILTON C. AULT, III

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,843.00
8	Shared Voting Power 604,478.00
9	Sole Dispositive Power 1,843.00
10	Shared Dispositive Power 604,478.00

11

Aggregate amount beneficially owned by each reporting person

606,321.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

15.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Sole voting and dispositive power represents shares of Common Stock. Shared voting and dispositive power represents (i) 461,743 shares of Common Stock underlying shares of Series B Convertible Preferred Stock held by Ault Lending, LLC, (ii) 23,334 shares of Common Stock underlying currently exercisable warrants held by Ault Lending, LLC, (iii) 108,260 shares of Common Stock held by Ault Lending, LLC, (iv) 11,068 shares of Common Stock held by Ault Life Sciences, Inc., (v) 61 shares of Common Stock held by Ault Life Sciences Fund, LLC, and (vi) 12 shares of Common Stock underlying currently exercisable warrants held by Hyperscale Data, Inc.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

WILLIAM B. HORNE

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 3,518.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 3,518.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

3,518.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Represents (i) 3,333 shares of Common Stock and (ii) 185 shares of Common Stock underlying stock options currently exercisable or exercisable within 60 days.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

HENRY C.W. NISSER

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

SWEDEN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 926.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 926.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

926.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Represents shares of Common Stock underlying stock options currently exercisable or exercisable within 60 days.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

KENNETH S. CRAGUN

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,111.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,111.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,111.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Represents shares of Common Stock underlying stock options currently exercisable or exercisable within 60 days.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

DAVID J. KATZOFF

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,726.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,726.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,726.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Represents (i) 615 shares of Common Stock and (ii) 1,111 shares of Common Stock underlying stock options currently exercisable or exercisable within 60 days.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

HYPERSCALE DATA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 593,349.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 593,349.00

11

Aggregate amount beneficially owned by each reporting person

593,349.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

15.5 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Represents (i) 12 shares of Common Stock underlying currently exercisable warrants held by it, (ii) 461,743 shares of Common Stock underlying shares of Series B Convertible Preferred Stock held by Ault Lending, LLC, (iii) 23,334 shares of Common Stock underlying currently exercisable warrants held by Ault Lending, LLC, and (iv) 108,260 shares of Common Stock held by Ault Lending, LLC.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

AULT LENDING, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 593,337.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 593,337.00

11

Aggregate amount beneficially owned by each reporting person

593,337.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

15.5 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Represents (i) 108,260 shares of Common Stock, (ii) 461,743 shares of Common Stock underlying shares of Series B Convertible Preferred Stock and (iii) 23,334 shares of Common Stock underlying currently exercisable warrants.

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

AULT LIFE SCIENCES, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 11,068.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 11,068.00

11

Aggregate amount beneficially owned by each reporting person

11,068.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. 02262M605

1

Name of reporting person

AULT LIFE SCIENCES FUND, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 61.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 61.00

11

Aggregate amount beneficially owned by each reporting person

61.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.0001 per share
(b)	Name of Issuer: Alzamend Neuro, Inc.
(c)	Address of Issuer's Principal Executive Offices: 480 Peachtree Road NE, Second Floor, Suite 103, Atlanta, GEORGIA , 30326.
Item 1 Comment: Optional Comments up to 20,000 characters.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is amended and restated in its entirety as follows: The securities of the Issuer purchased by each of Hyperscale Data, Ault Life Sciences and Ault Life Sciences Fund were purchased with working capital. The securities of the Issuer acquired by Ault Lending were acquired with working capital, except for 691 shares issued for marketing and brand development services provided by Hyperscale Data, its parent entity. The Shares purchased by Messrs. Ault, Horne and Katzoff were purchased with personal funds. The stock options owned by Messrs. Ault, Horne, Nisser, Cragun and Katzoff were awarded to them in their capacities as officers and/or directors of the Issuer. The aggregate purchase price of the warrants currently exercisable into 12 Shares owned directly by Ault Alliance is approximately $0. The aggregate purchase price of the 11,068 Shares owned directly by Ault Life Sciences is approximately $7,970. The aggregate purchase price of the 61 Shares owned directly by Ault Life Sciences Fund is approximately $123,707. The aggregate purchase price of the 108,260 Shares owned directly by Ault Lending is approximately $251,163. The aggregate purchase price of the approximate 1,071.24 shares of Series B convertible preferred stock (the "Series B Convertible Preferred Stock") and warrants currently exercisable (subject to beneficial ownership limitations contained therein) into 23,334 Shares owned directly by Ault Lending is approximately $1,071,245. The aggregate purchase price of the 1,843 Shares owned directly by Mr. Ault is approximately $1,179. The aggregate purchase price of the 3,333 Shares owned directly by Mr. Horne is approximately $14,028. The aggregate purchase price of the 615 Shares owned directly by Mr. Katzoff is approximately $53,374.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated in its entirety as follows: The aggregate percentage of Shares reported beneficially owned by the Reporting Person is based upon 3,339,861 Shares outstanding as of September 22, 2025, which is the total number of Shares outstanding as reported by the Issuer to the Reporting Persons. As of the date hereof, Mr. Ault may be deemed to beneficially own 606,321 Shares, consisting of (i) 1,843 Shares held directly by him, (ii) 461,743 Shares underlying shares of Series B Convertible Preferred Stock held by Ault Lending, (iii) 23,334 Shares underlying currently exercisable warrants held by Ault Lending, (iv) 108,260 Shares held by Ault Lending, (v) 11,068 Shares held by Ault Life Sciences, (vi) 61 Shares held by Ault Life Sciences Fund, and (vii) 12 Shares underlying currently exercisable warrants held by Hyperscale Data. Mr. Ault may be deemed to beneficially own the Shares beneficially owned by Hyperscale Data, Ault Life Sciences, Ault Life Sciences Fund and Ault Lending by virtue of his relationships with such entities described in Item 2. Percentage: Approximately 15.9% As of the date hereof, Mr. Horne may be deemed to beneficially own 3,518 Shares, consisting of (i) 3,333 Shares held directly by him and (ii) 185 Shares underlying stock options currently exercisable or exercisable within 60 days. Percentage: Approximately 0.1% As of the date hereof, Mr. Nisser may be deemed to beneficially own 926 Shares, consisting of Shares underlying stock options currently exercisable or exercisable within 60 days. Percentage: Approximately 0.0% As of the date hereof, Mr. Cragun may be deemed to beneficially own 1,111 Shares, consisting of Shares underlying stock options currently exercisable or exercisable within 60 days. Percentage: Approximately 0.0% As of the date hereof, Hyperscale Data may be deemed to beneficially own 593,349 Shares, consisting of (i) 12 Shares underlying currently exercisable warrants held directly by it, (ii) 461,743 Shares underlying shares of Series B Convertible Preferred Stock held by Ault Lending, (iii) 23,334 Shares underlying currently exercisable warrants held by Ault Lending, and (iv) 108,260 Shares held by Ault Lending. Hyperscale Data may be deemed to beneficially own the Shares beneficially owned by Ault Lending by virtue of its relationship with such entity described in Item 2. Percentage: Approximately 15.5% As of the date hereof, Ault Lending may be deemed to beneficially own 593,337 Shares, consisting of (i) 108,260 Shares held directly by it, (ii) 461,743 Shares underlying shares of Series B Convertible Preferred Stock held directly by it, and (iii) 23,334 Shares underlying currently exercisable warrants held directly by it. Percentage: Approximately 15.5% As of the date hereof, Ault Life Sciences may be deemed to beneficially own 11,068 Shares held directly by it. Percentage: Approximately 0.3% As of the date hereof, Ault Life Sciences Fund may be deemed to beneficially own 61 Shares held directly by it. Percentage: Approximately 0.0%
(b)	Item 5(b) is hereby amended and restated in its entirety as follows: Mr. Ault: 1. Sole power to vote or direct vote: 1,843 2. Shared power to vote or direct vote: 604,478 3. Sole power to dispose or direct the disposition: 1,843 4. Shared power to dispose or direct the disposition: 604,478 Mr. Horne: 1. Sole power to vote or direct vote: 3,518 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 3,518 4. Shared power to dispose or direct the disposition: 0 Mr. Nisser: 1. Sole power to vote or direct vote: 926 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 926 4. Shared power to dispose or direct the disposition: 0 Mr. Cragun: 1. Sole power to vote or direct vote: 1,111 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 1,111 4. Shared power to dispose or direct the disposition: 0 Mr. Katzoff: 1. Sole power to vote or direct vote: 1,726 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 1,726 4. Shared power to dispose or direct the disposition: 0 Hyperscale Data: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 593,349 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 593,349 Ault Lending: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 593,337 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 593,337 Ault Life Sciences: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 11,068 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 11,068 Ault Life Sciences Fund: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 61 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 61
(c)	Item 5(c) is amended and restated in its entirety as follows: None of the Reporting Persons have engaged in any transactions in the Shares during the past 60 days except as set forth in Exhibit 1 hereto.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 1 - Transactions in the Securities of the Issuer During the Past 60 Days

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MILTON C. AULT, III

Signature:	/s/ Milton C. Ault, III
Name/Title:	Individual
Date:	09/23/2025

WILLIAM B. HORNE

Signature:	/s/ William B. Horne
Name/Title:	Individual
Date:	09/23/2025

HENRY C.W. NISSER

Signature:	/s/ Henry C. Nisser
Name/Title:	Individual
Date:	09/23/2025

KENNETH S. CRAGUN

Signature:	/s/ Kenneth S. Cragun
Name/Title:	Individual
Date:	09/23/2025

DAVID J. KATZOFF

Signature:	/s/ David J. Katzoff
Name/Title:	Individual
Date:	09/23/2025

HYPERSCALE DATA, INC.

Signature:	/s/ Milton C. Ault, III
Name/Title:	Executive Chairman
Date:	09/23/2025

AULT LENDING, LLC

Signature:	/s/ David J. Katzoff
Name/Title:	Manager
Date:	09/23/2025

AULT LIFE SCIENCES, INC.

Signature:	/s/ Milton C. Ault, III
Name/Title:	Chief Executive Officer
Date:	09/23/2025

AULT LIFE SCIENCES FUND, LLC

Signature:	/s/ Milton C. Ault, III
Name/Title:	Managing Member
Date:	09/23/2025