ALZN Schedule 13D/A: Hyperscale/Ault Entities Report ~13% Ownership

Rhea-AI Filing Summary

Alzamend Neuro, Inc. (ALZN) Schedule 13D/A discloses that Milton C. Ault, III and affiliated entities collectively beneficially own 509,315 shares, equal to approximately 13.3% of the 3,439,861 shares outstanding reported to the reporting persons. Related entities Hyperscale Data, Inc. and Ault Lending, LLC are reported to beneficially own approximately 496,343 shares (13.0%) and 496,331 shares (13.0%), respectively.

The filing states sources of funds (working capital, personal funds) and itemizes aggregate purchase prices for specific holdings and convertible instruments (for example, ~839.24 shares of Series B convertible preferred and related warrants for approximately $839,245). Item 5 notes no transactions in the past 60 days except as set forth in Exhibit 1.

Positive

• Provides clear disclosure of beneficial ownership with aggregated counts and percentages (e.g., Mr. Ault: 509,315 shares, ~13.3%)
• Itemizes sources of funds and aggregate purchase prices for direct holdings and convertible/warrant positions (e.g., Series B position ~$839,245)
• Clarifies voting and dispositive power across affiliated entities, enhancing transparency about control relationships

Negative

• Concentrated ownership by Mr. Ault and affiliated entities (>13% each for combined positions) may represent material ownership concentration
• Significant holdings include shares underlying convertible preferred stock and exercisable warrants, which could lead to dilution or voting shifts if converted or exercised
• Multiple affiliated entities hold overlapping beneficial interests, which may complicate clear attribution of control absent further governance disclosures

Insights

Financial Analyst

TL;DR: Ault and affiliated entities disclose a >13% combined stake in ALZN, creating meaningful ownership concentration without recent open-market trades.

The filing documents concentrated beneficial ownership through multiple affiliated entities and convertible instruments representing 13.3% beneficial ownership for Mr. Ault and ~13.0% for Hyperscale/Ault Lending based on 3,439,861 shares outstanding. The disclosure includes specific purchase prices for direct holdings and convertible preferred/warrant positions, which clarifies cost basis for portions of the position. The statement that no transactions occurred in the prior 60 days (except Exhibit 1) limits near-term market-activity signals. For investors, the material fact is the sizable, disclosed stake and the existence of convertible preferred and warrant-derived shares that could affect future dilution or voting dynamics.

Corporate Governance Expert

TL;DR: Reporting shows control-linked ownership via multiple entities, raising governance and related-party clarity considerations.

The schedule identifies shared voting and dispositive power across affiliated entities (e.g., shared voting power of 507,472 for Mr. Ault) and describes relationships among reporting persons that result in aggregated beneficial ownership. Itemized holdings include both direct common shares and shares underlying Series B convertible preferred stock and exercisable warrants. The filing improves transparency on who can influence corporate votes but does not disclose any agreements altering governance beyond ownership percentages. Absence of recent transactions (per Item 5(c)) indicates no immediate change in control intentions disclosed here.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)

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)

09/23/2025

(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 507,472.00
9	Sole Dispositive Power 1,843.00
10	Shared Dispositive Power 507,472.00

11

Aggregate amount beneficially owned by each reporting person

509,315.00

12

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

13

Percent of class represented by amount in Row (11)

13.3 %

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) 361,743 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) 111,254 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 496,343.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 496,343.00

11

Aggregate amount beneficially owned by each reporting person

496,343.00

12

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

13

Percent of class represented by amount in Row (11)

13.0 %

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) 361,743 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) 111,254 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 496,331.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 496,331.00

11

Aggregate amount beneficially owned by each reporting person

496,331.00

12

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

13

Percent of class represented by amount in Row (11)

13.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Represents (i) 111,254 shares of Common Stock, (ii) 361,743 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 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. 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 111,254 Shares owned directly by Ault Lending is approximately $258,109. The aggregate purchase price of the approximate 839.24 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 $839,245. 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 3,439,861 Shares outstanding as of September 25, 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 509,315 Shares, consisting of (i) 1,843 Shares held directly by him, (ii) 361,743 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) 111,254 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 13.3% 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 496,343 Shares, consisting of (i) 12 Shares underlying currently exercisable warrants held directly by it, (ii) 361,743 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) 111,254 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 13.0% As of the date hereof, Ault Lending may be deemed to beneficially own 496,331 Shares, consisting of (i) 111,254 Shares held directly by it, (ii) 361,743 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 13.0% 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: 507,472 3. Sole power to dispose or direct the disposition: 1,843 4. Shared power to dispose or direct the disposition: 507,472 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: 496,343 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 496,343 Ault Lending: 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 496,331 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 496,331 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:	09/25/2025

WILLIAM B. HORNE

Signature:	/s/ William B. Horne
Name/Title:	Individual
Date:	09/25/2025

HENRY C.W. NISSER

Signature:	/s/ Henry C. Nisser
Name/Title:	Individual
Date:	09/25/2025

KENNETH S. CRAGUN

Signature:	/s/ Kenneth S. Cragun
Name/Title:	Individual
Date:	09/25/2025

DAVID J. KATZOFF

Signature:	/s/ David J. Katzoff
Name/Title:	Individual
Date:	09/25/2025

HYPERSCALE DATA, INC.

Signature:	/s/ Milton C. Ault, III
Name/Title:	Executive Chairman
Date:	09/25/2025

AULT LENDING, LLC

Signature:	/s/ David J. Katzoff
Name/Title:	Manager
Date:	09/25/2025

AULT LIFE SCIENCES, INC.

Signature:	/s/ Milton C. Ault, III
Name/Title:	Chief Executive Officer
Date:	09/25/2025

AULT LIFE SCIENCES FUND, LLC

Signature:	/s/ Milton C. Ault, III
Name/Title:	Managing Member
Date:	09/25/2025

FAQ

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

Milton C. Ault, III may be deemed to beneficially own 509,315 shares, approximately 13.3% of 3,439,861 shares outstanding.

What percentage of Alzamend Neuro does Hyperscale Data, Inc. beneficially own?

Hyperscale Data, Inc. may be deemed to beneficially own 496,343 shares, approximately 13.0% of the reported outstanding shares.

Does the filing disclose sources of funds for the purchases?

Yes. The filing states purchases by Hyperscale Data, Ault Life Sciences and Ault Life Sciences Fund were made with working capital; Ault Lending used working capital; certain individuals used personal funds.

Are there convertible securities or warrants included in the reported holdings?

Yes. Reported holdings include shares underlying Series B Convertible Preferred Stock and currently exercisable warrants amounting to notable share equivalents (e.g., 361,743 shares underlying Series B for Ault Lending).

Did the reporting persons trade ALZN shares in the past 60 days?

Item 5(c) states that none of the reporting persons engaged in any transactions in the Shares during the past 60 days except as set forth in Exhibit 1.