Company: DGLY
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021680
Chunk: 51

Company: DIGITAL ALLY, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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Under
Nasdaq listing rules and as specified in the Notice, the Company has 45 calendar days from the date of the Notice to submit to the Staff
a plan to regain compliance with the Stockholders’ Equity Requirement. If the Company’s plan to regain compliance is accepted,
Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice for the Company to evidence compliance.

The
Company submitted its plan to Nasdaq to regain compliance with the Stockholders’ Equity Requirement on February 17, 2025. There
can be no assurance that the Company’s plan will be accepted or that if it is, that the Company will be able to regain compliance
with the Stockholders’ Equity Requirement.

If
the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq,
Nasdaq will provide notice that the Common Stock will be subject to delisting from the Nasdaq Capital Market. At that time, the Company
may appeal any such delisting determination to a Nasdaq hearings panel.

Minimum
Bid Price Requirement - On March 6, 2025, the Company received notice (the “March 6 Letter”) from the Nasdaq 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 “Panel”), pursuant to the procedures set forth
in the Nasdaq Listing Rule 5800 Series. The Company must request a hearing no later than 4:00 p.m. Eastern Time on March 13, 2025.

    21

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