Company: DGLY
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001641172-25-024667
Chunk: 47

Company: DIGITAL ALLY, INC.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 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.

    25

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’ Equity Requirement as promptly
as possible. In that regard, management believes that it has achieved compliance with the Stockholders’ Equity Requirement as reported
in the accompanying Statement of Stockholders’ Equity (Deficit) as of June 30, 2025. Furthermore, management believes that it has
achieved compliance with the Minimum Bid Price Requirement prior to June 6, 2025, as required by the Panel. Management believes that it
has met all other requirements as requested by the Panel. There are no assurances however, that the Company will be able to