Company: DGLY
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001641172-25-024667
Chunk: 153

Company: DIGITAL ALLY, INC.
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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    Senior Secured Promissory Notes 
     —  
     3,600,000 
  
    Unamortized debt issuance costs 
     —  
     (664,719)
  
    Debt obligations 
     742,805  
     5,102,526 
  
    Less: current maturities of debt obligations 
     603,476  
     4,961,443 

    Debt obligations, long-term 
    $139,329  
    $141,083 

    18

Debt obligations mature on an annual basis as
follows as of June 30, 2025:

 SCHEDULE OF MATURITY OF DEBT OBLIGATIONS

    June 30, 2025 
  
    2025 (July 1, 2025 to December 31, 2025) 
    $603,476 
  
    2026 
     3,542 
  
    2027 
     3,676 
  
    2028 
     3,817 
  
    2029 and thereafter 
     128,294 

    Total 
    $742,805 

2020 Small Business Administration Notes.

On May 12, 2020, the Company
received $150,000 in loan funding from the SBA under the Economic Injury Disaster Loan (“EIDL”) program administered by the
SBA, which program was expanded pursuant to the recently enacted CARES Act. The EIDL is evidenced by a secured promissory note, dated
May 8, 2020, in the original principal amount of $150,000 with the SBA, the lender.

Under the terms of the note
issued under the EIDL program, interest accrues on the outstanding principal at the rate of 3.75% per annum. The term of such note is
thirty years, though it may be payable sooner upon an event of default under such note. Monthly principal and interest payments began
in November 2022, after being deferred for thirty months after the date of disbursement and total $731 per month thereafter. Such note
may be prepaid in part or in full, at any time, without penalty. The Company granted the SBA a continuing interest in and to any and all
collateral, including but not limited to tangible and intangible personal property.

Unsecured Promissory Note

On February 1, 202