Company: DGLY
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021680
Chunk: 268

Company: DIGITAL ALLY, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 268
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 the Company’s outstanding shares of Common Stock, par value $0.001 per share. Pursuant to the May 22, 2025 Charter Amendment,
the Reverse Stock Split became effective at 5:30 p.m. Eastern Time on May 22, 2025. As a result of the May 22, 2025 Reverse Stock Split,
every one hundred (100) shares of Common Stock were exchanged for one (1) share of Common Stock. The Common Stock will begin trading
on a split-adjusted basis on Nasdaq effective with the open of the market on Friday, May 23, 2025. The May 22, 2025 Reverse Stock Split
did not affect the total number of shares of capital stock, including the Common Stock, that the Company is authorized to issue, which
remain as set forth pursuant to the Articles of Incorporation. No fractional shares of Common Stock were issued in connection with the
May 22, 2025 Reverse Stock Split. Stockholders who otherwise were entitled to receive fractional shares of Common Stock were automatically
entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share, at a participant level. The
May 22, 2025 Reverse Stock Split also had a proportionate effect on all other options and warrants of the Company outstanding as of the
effective date of the May 22, 2025 Reverse Stock Split. All historical share and per-share amounts reflected throughout the Company’s
condensed consolidated financial statements and other financial information in this Report have been adjusted to reflect the May 22,
2025 Reverse Stock Split as if the split occurred as of the earliest period presented. The par value per share of the Company’s
Common Stock was not affected by the May 22, 2025 Reverse Stock Split.

37

Nasdaq
Notifications

As
previously disclosed, on December 20, 2024, the Company received notice from the Listing Qualifications Staff (the “Staff”)
of The Nasdaq Stock Market LLC (“Nasdaq”) that the bid price of its listed securities had closed at less than $1 per share
over the previous 30 consecutive business days, and, as a result, did not comply with Nasdaq Listing Rule 5550(a)(2) (the “Minimum
Bid Price Requirement”). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days,
or until June 18