Company: DGLY
Filing Date: 2025-03-07
Form Type: 8-K
Source: 0001493152-25-009566
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Company: DIGITAL ALLY, INC.
Filing Date: 2025-03-07
Form: 8-K
Item: Item 3.01
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Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

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, 2025, to regain compliance with the Minimum Bid Price Requirement.

As
previously disclosed, on January 2, 2025, the Staff notified the Company that it was not in compliance with Nasdaq Listing Rule 5550(b)(1),
which requires companies listed on Nasdaq to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing (the
“ Stockholders’ Equity Requirement”). The Company reported stockholders’ equity (deficit) of ($2,448,310) in its
Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and, as a result, did not satisfy the Stockholders’ Equity
Requirement pursuant to Listing Rule 5550(b)(1).

On
March 6, 2025, the Company received notice (the “ March 6 Letter”) from the 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