Company: DGLY
Filing Date: 2025-02-11
Form Type: S-1/A
Source: 0001493152-25-005949
Chunk: 132

Company: DIGITAL ALLY, INC.
Filing Date: 2025-02-11
Form: S-1/A
Chunk 132
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 |   (1,265,852 | ) |     | $         |   (1,265,852 | ) |     |                             |   (1,265,852 | ) |
| Accumulated Deficit                                                                                                                                                                                                                                                              |     | $                        | (130,154,168 | ) |     | $         | (130,831,334 | ) |     |                             | (130,831,334 | ) |
| Total Stockholders’ equity (deficit)                                                                                                                                                                                                                                             |     | $                        |   (2,448,310 | ) |     | $         |   (2,581,254 | ) |     | $                           |    2,207,334 |   |
| Total capitalization                                                                                                                                                                                                                                                             |     | $                        |   32,263,169 |   |     | $         |   32,921,563 |   |     | $                           |   46,399,070 |   |

| (1) | Assumes                                                                                      
 no sale of any Pre-Funded Units and no exercise of the Warrants issued in connection with    
 this offering and assumes no exercise of the over-allotment option.                          |
| (2) | Assumes                                                                                      
 that the Series A Warrants and Series B Warrants issued in connection with this offering     
 are exercisable because stockholder approval has been obtained. Total stockholders’          
 equity on a pro forma, as adjusted basis would be $10,896,253 assuming the Series A Warrants 
 and Series B Warrants issued in connection with this offering are not exercisable because    
 stockholder approval has not been obtained.                                                  |

The information above excludes on a pro forma and pro forma, as adjusted basis:

| ● | up                                                                                                                        
 to 52,500 shares of our common stock issuable upon exercise of outstanding options with a weighted average exercise price 
 of $45.14 per share.                                                                                                      |
| ● | up to 7,101,095 shares of our common stock issuable                                                                       
 upon exercise of warrants issued previously and outstanding, having a weighted average exercise price of $1.45 per share. |

| 82 |

<div align='center'>DILUTION</div>

If you invest in the securities being offered by this prospectus, your interest will be diluted immediately to the extent of the difference between the public offering price per Unit and the pro forma net tangible book value per share of our common stock after this offering.

Our historical net tangible book value