Company: DGLY
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001641172-25-024667
Chunk: 165

Company: DIGITAL ALLY, INC.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 calendar days from the date of the Notice for the Company to evidence compliance.

The Company submitted its
plan to Nasdaq to regain compliance with the Stockholders’ Equity Requirement on February 17, 2025. There can be no assurance that
the Company’s plan will be accepted or that if it is, that the Company will be able to regain compliance with the Stockholders’
Equity Requirement.

If the Company does not regain
compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice
that the Common Stock will be subject to delisting from the Nasdaq Capital Market. At that time, the Company may appeal any such delisting
determination to a Nasdaq 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 Nas