Company: DGLY
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021680
Chunk: 177

Company: DIGITAL ALLY, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 177
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 (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.

    21

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 provide an indication of its equity following those transactions.

    ●
    In
    addition, on or before May 20, 2025, the Company must provide the Panel with an update on its fundraising plans, and updated income
    projections for the next 12 months, with all underlying assumptions clearly stated. 

    ●
    On
    or before June 6, 2025, the Company shall demonstrate compliance with the Minimum Bid Price Requirement. 

    ●
    If,
    prior to September 2, 2025, the Company becomes non-compliant with any Listing Rule, the Company will be delisted.

The
Company continues to work diligently to regain and maintain compliance with the Minimum Bid Price Requirement and Stockholders’
Equ