Company: DGLY
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011765
Chunk: 162

Company: DIGITAL ALLY, INC.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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 hearings panel.

Minimum Bid Price Requirement
- On March 6, 2025, the Company received notice (the “March 6 Letter”) from the Nasdaq Staff that the Staff had determined
that as of March 5, 2025, the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days triggering
application of Listing Rule 5810(c)(3)(A)(iii) which states in part: if during any compliance period specified in Rule 5810(c)(3)(A),
a company’s security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department
shall issue a Staff Delisting Determination under Rule 5810 with respect to that security (the “Low Priced Stocks Rule”).
As a result, the Staff determined to delist the Company’s securities from Nasdaq, unless the Company timely requests an appeal of
the Staff’s determination to a Hearings Panel (the “Panel”), pursuant to the procedures set forth in the Nasdaq Listing
Rule 5800 Series. The Company must request a hearing no later than 4:00 p.m. Eastern Time on March 13, 2025.

The Company timely requested a
hearing before the Panel to appeal the March 6 Letter and to address all outstanding matters, including compliance with the Minimum Bid
Price Requirement, the Low Priced Stocks Rule and the Stockholders’ Equity Requirement, which hearing date has not been set as of
the date of this Form 10-K. While the appeal process is pending, the suspension of trading of the Company’s Common Stock, will be stayed and the Common Stock will continue to trade on the Nasdaq Capital Market
until the hearing process concludes and the Panel issues a written decision. The Company held its hearing with the Panel as scheduled
on April 17, 2025.

On May 1, 2025, the Panel rendered its decision
which granted the Company’s request for continued listing on the Nasdaq Exchange. Such decision is subject to the following conditions:

    ●
    On or before May 2, 2025, the Company shall file Form 10-K for 2024 in compliance with Listing Rule 5250(c)(1). 

    ●
    On or before May 20, 2025, the Company must file a public disclosure describing any transactions undertaken by the Company to increase its equity and providing an indication of its equity