Company: DGLY
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011765
Chunk: 160

Company: DIGITAL ALLY, INC.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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Series B Warrants”
and collectively with the Series A Warrants, the “Warrants”), shares of Common Stock underlying the Warrants and certain
provisions of the Warrants, issued in connection with an offering and sale of securities of the Company that was consummated on
February 14, 2025. The proposal was approved

Reverse Stock Split

On May 6, 2025, the
Company, acting pursuant to authority received at an annual meeting of its stockholders on December 17, 2024, filed with the Secretary
of State of the State of Nevada the Charter Amendment to its Articles of Incorporation, which effected a one-for-twenty reverse stock split of all of the Company’s outstanding shares of Common Stock. Pursuant to the Charter Amendment, the Reverse Stock Split became
effective as of 5:30 p.m. Eastern Time on May 6, 2025. As a result of the Reverse Stock Split, every twenty (20) shares of Common Stock
were exchanged for one (1) share of Common Stock. The Common Stock began trading on the Nasdaq Capital Market on a split-adjusted basis
at the start of trading on May 7, 2025. The Reverse Stock Split did not affect the total number of shares of capital stock, including
the Common Stock, that the Company is authorized to issue, which remain as set forth pursuant to the Articles of Incorporation. No fractional
shares of Common Stock were issued in connection with the Reverse Stock Split. Stockholders who otherwise were entitled to receive fractional
shares of Common Stock were automatically entitled to receive an additional fraction of a share of Common Stock to round up to the next
whole share, at a participant level. The Reverse Stock Split also had a proportionate effect on all other options and warrants of the
Company outstanding as of the effective date of the Reverse Stock Split. The Reverse Stock Split was effective as of the time of this
filing.

Notices of Failure to Satisfy a Continued Listing
Rule

Minimum Bid Price Requirement
- December 20, 2024, the Company received a written notification from The Nasdaq Stock Market LLC indicating that the Company was not
in compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”), as the Company’s closing bid
price for its Common Stock was below $1.00 per share for the prior thirty (30) consecutive business days. The Company has been granted
a 180-calendar