# EDGAR Filing Document

**Accession Number:** 0001342958
**File Stem:** 0001493152-23-003871
**Filing Date:** 2023-2
**Character Count:** 15021
**Document Hash:** 1db7ceb903714a4732537d60bcbad976
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-003871.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001493152-23-003871

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20230207

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIGITAL ALLY, INC.
- **CENTRAL INDEX KEY:** 0001342958
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
- **IRS NUMBER:** 200064269
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33899
- **FILM NUMBER:** 23596054

**BUSINESS ADDRESS:**
- **STREET 1:** 14001 MARSHALL DRIVE
- **CITY:** LENEXA
- **STATE:** KS
- **ZIP:** 66215
- **BUSINESS PHONE:** 913-232-5349

**MAIL ADDRESS:**
- **STREET 1:** 14001 MARSHALL DRIVE
- **CITY:** LENEXA
- **STATE:** KS
- **ZIP:** 66215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DIGITAL ALLY INC
- **DATE OF NAME CHANGE:** 20051031

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): February 7, 2023 (February 6, 2023)**

**DIGITAL ALLY, INC.**

**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-33899** | **20-0064269** |
| **(State or other Jurisdiction** | **(Commission** | **(IRS Employer** |
| **of Incorporation)** | **File Number)** | **Identification No.)** |

---

**14001 Marshall Drive, Lenexa, KS 66215**

**(Address of Principal Executive Offices) (Zip Code)**

**(913) 814-7774**

**(Registrant's telephone number, including area code)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of exchange on which registered** |
| **Common stock, $0.001 par value** | **DGLY** | **The Nasdaq Capital Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 3.03** | **Material Modification to Rights of Security Holders.** |

---

To the extent required by Item 3.03 of Current Report on Form 8-K (this "Form 8-K"), the information contained in Item 5.03 of this Form 8-K is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 5.03** | **Amendments to Articles of Incorporation or Bylaws.** |

---

On February 6, 2023, Digital Ally, Inc. (the "Company"), acting pursuant to authority received at the annual meeting of its stockholders on December 7, 2022, filed a certificate of amendment (the "Certificate of Amendment") to its articles of incorporation, as amended (the "Articles of Incorporation"), to effect a one-for-twenty reverse stock split (the "Reverse Stock Split") of all of the Company's outstanding shares of common stock, par value $0.001 per share (the "Common Stock"), effective as of the time of filing (the "Effective Time"). The Company anticipates that the Common Stock will begin trading on The Nasdaq Capital Market on a split-adjusted basis at the start of trading on February 8, 2023.

As a result of the Reverse Stock Split, every twenty (20) shares of Common Stock issued and outstanding as of the Effective Time have been converted into one (1) share of Common Stock (the "New Common Stock"). The New Common Stock has a new CUSIP number of 25382T200. The Reverse Stock Split does not affect the total number of shares of capital stock, including the Common Stock, that the Company is authorized to issue, or the par value of the Common Stock, which shall remain as set forth pursuant to the Articles of Incorporation. No fractional shares of New Common Stock will be issued in connection with the Reverse Stock Split, all of which shares of New Common Stock shall be rounded up to the nearest whole number of such shares.

The Company's outstanding warrants and equity awards will be adjusted as a result of the Reverse Stock Split, as required by the terms of such warrants and equity awards.

Securities Transfer Corporation, the Company's transfer agent, will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for New Common Stock. Stockholders who hold their shares of Common Stock in book-entry form or in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares of Common Stock following the Reverse Stock Split.

The foregoing summary of the Certificate of Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

*Forward-Looking Statements*

This Form 8-K and Exhibit 99.1 attached hereto contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities, or future events or conditions, which can be identified by terminology such as "may," "will," "expects," "anticipates," "aims," "potential," "future," "intends," "plans," believes," "estimates," "continue," "likely to," and other similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are not historical facts and are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, many of which are beyond the Company's control, including, among other things, the date that trading of the New Common Stock will begin on a split-adjusted basis, the Company's ability to regain compliance with the Nasdaq Listing Standards and maintain the listing of its securities on Nasdaq, which may cause the Company's actual results, performance and achievements to differ materially from those contained in any forward-looking statement. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks that may be included in the periodic reports and other filings that the Company files from time to time with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this Form 8-K, except as required by applicable law.

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| | |
|:---|:---|
| **Item 8.01** | **Other Information.** |

---

On February 7, 2023, the Company issued a press release with respect to the Reverse Stock Split. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Certificate of Amendment to Articles of Incorporation of Digital Ally, Inc.](ex3-1.htm) |
| 99.1 | [Press Release dated February 7, 2023](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 7, 2023

---

| | |
|:---|:---|
| **Digital Ally, Inc.** | **Digital Ally, Inc.** |
| By: | */s/ Stanton E. Ross* |
| Name: | Stanton E. Ross |
| Title: | Chairman and Chief Executive Officer |

---

## Exhibit 3.1

**Exhibit 3.1**

![](ex3-1_001.jpg)

![](ex3-1_002.jpg)

![](ex3-1_003.jpg)

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Digital Ally Announces Reverse Stock Split**

**Lenexa, KS \| February 7, 2023 Digital Ally, Inc. (NASDAQ: DGLY) (the "Company")**, a market leader for advanced video solutions, revenue cycle management, and live event production and ticketing, today announced a 1-for-20 reverse split (the "Reverse Stock Split") of the Company's common stock (the "Common Stock"). On February 6, 2023, the Company filed a certificate of amendment to the Company's articles of incorporation, as amended, with the Secretary of State of the State of Nevada to effect the Reverse Stock Split. The Company anticipates that the Common Stock will begin trading on the Nasdaq Capital Market ("Nasdaq") on a split-adjusted basis at the start of trading on February 8, 2023 and will have a new CUSIP number of 25382T200.

At the Company's annual meeting of stockholders (the "Annual Meeting") held on December 7, 2022, the Company's stockholders approved a proposal to amend the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of its common stock at a ratio within the range of one-for-five (1:5) to one-for-twenty (1:20), as determined by the Company's Board of Directors. On January 13, 2023, the Company's Board of Directors approved the one-for-twenty Reverse Stock Split.

**Information to Stockholders**

Securities Transfer Corporation, the Company's transfer agent, will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for Common Stock. Stockholders who hold their shares of Common Stock in book-entry form or in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares of Common Stock following the Reverse Stock Split. Securities Transfer Corporation may be reached for questions at (469) 633-0101.

**About Digital Ally**

Digital Ally Companies (NASDAQ: DGLY) through its subsidiaries, is engaged in video solution technology, human & animal health protection products, healthcare revenue cycle management, ticket brokering and marketing, event production and jet chartering. Digital Ally continues to add organizations that demonstrate the common traits of positive earnings, growth potential, innovation and organizational synergies.

For additional news and information please visit <u>www.digitalally.com</u> or follow Digital Ally Inc. social media channels here:

<u>Facebook</u> \| <u>Instagram</u> \| <u>LinkedIn</u> \| <u>Twitter</u>

**Contact Information**

Stanton Ross, CEO

Tom Heckman, CFO

Digital Ally, Inc.

913-814-7774

<u>info@digitalallyinc.com</u>

*This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions and include statements regarding the expected closing date of the offering. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties including, but not limited to, the date that trading of the post-split Common Stock will begin on a split-adjusted basis, the Company's ability to regain compliance with the Nasdaq Listing Standards and maintain the listing of its securities on Nasdaq, which may cause the Company's actual results, and other risks impacting Digital Ally's business, such as, current macroeconomic uncertainties associated with the COVID-19 pandemic, Digital Ally's ability to predict the timing of design wins entering production and the potential future revenue associated with Digital Ally's design wins; Digital Ally's rate of growth; Digital Ally's ability to predict customer demand for its existing and future products and to secure adequate manufacturing capacity; consumer demand conditions affecting Digital Ally's customer's end markets; Digital Ally's ability to hire, retain and motivate employees; the effects of competition, including price competition; technological, regulatory and legal developments; developments in the economy and financial markets and other risks as may be more fully described in the Company's filings with the Securities and Exchange Commission. The information in this press release is provided only as of the date of this press release, and Digital Ally undertakes no obligation to update any forward-looking statements contained in this press release based on new information, future events, or otherwise, except as required by law. Digital Ally disclaims any obligation to update these forward-looking statements.*