Company: DGLY
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021680
Chunk: 216

Company: DIGITAL ALLY, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 216
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 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”).

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. While the appeal process
was pending, the suspension of trading of the Company’s Common Stock, was stayed and the Common Stock continued 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 Company meeting and maintaining 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 providing 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 has worked diligently to