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DGLY

Digital Ally, Inc. Common Stock NASDAQ Capital Market
$1.77
Open: $1.8 High: $1.86 Low: $1.69 Close: $1.73
Range: 2021-05-06 - 2021-05-07
Volume: 2,169,346
Market: Closed
Powered by Finage Stock APIDelayed data
DGLY
Digital Ally, Inc. Common Stock 9705 Loiret Boulevard Lenexa KS, 66219 http://www.digitalallyinc.com
Digital Ally Inc produces digital video imaging and storage products for use in law enforcement, security and commercial applications.
  • CEO: Stanton E. Ross
  • Employees: 128
  • Sector: Industrials
  • Industry: Consulting & Outsourcing
DGLY News
Latest news about the DGLY
  • Digital Ally Announces Notable Domestic and International Orders for Body-Worn and In-Car Camera Systems

    Multiple orders have been placed through the Company’s subscription payment plan as the demand for the EVO-HD in-car system with auto-activation increases Lenexa, KS, April 05, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced it has received multiple notable contracts for its EVO-HD in-car camera system with built-in auto-activation technology, body-worn cameras and cloud storage solution. Most notable, the Royal Barbados Police Force will equip its fleet of vehicles with the EVO-HD in-car camera system. This order represents the largest international deployment of the Company’s EVO-HD system to date. Additional details of this order are undisclosed. Royal Barbados does not represent the order placed by an international agency in early 2020 that has been delayed due to the COVID-19 pandemic. Digital Ally remains committed to working with the agency to complete this historic purchase. “Recently we have seen multiple events that display the importance of body cameras with auto-activation technology,” said Stan Ross, CEO of Digital Ally, adding, “The EVO-HD comes standard with our patented auto-activation technology built into the unit, which simultaneously connects and activates a recording of the in-car cameras and body camera when triggered by multiple sensors. With this technology we look to assist in the call for complete transparency between the public and police officers.” Additional noteworthy orders recently purchased for Digital Ally products: Crestwood Police Department (MO): eight (8) EVO-HD in-car systems, thirteen (13) FirstVu HD body-worn cameras and full access to the EVO Web Portal cloud storage solution via the subscription plan.Danville Police Department (IL): forty (40) FirstVu HD body-worn cameras.Unnamed Police Department: five (5) EVO-HD in-car systems, seventeen (17) FirstVu HD body-worn cameras and full access to the EVO Web Portal cloud storage solution via the subscription plan – additional details undisclosed. About Digital AllyDigital Ally® specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and event security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. In addition, Digital Ally launched the Shield Health Protection Products line including Shield Cleansers, a highly effective, yet safe, disinfectant and sanitizer for use against SARS-CoV-2, a non-contact thermometer/controlled-entry device, an electrostatic sprayer for fast and efficient disinfecting of large areas, and a variety of personal protective equipment including face masks, gloves and sanitizer wipes. For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here: Facebook | Instagram | LinkedIn | Twitter Contact InformationStanton Ross, CEOTom Heckman, CFODigital Ally, Inc.913-814-7774 info@digitalallyinc.com This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to complete the installation of the underlying hardware and training of law enforcement personnel for the police agencies and in particular the Royal Barbados Police Force given the travel and other restrictions caused by the Covid-19 pandemic, whether the police agencies will utilize our VuLink patented auto-activation technology to effectively connect and activate recordings of the in-car cameras and body camera when triggered by multiple sensors, whether police agencies will utilize our auto-activation technology to improve transparency between the police officers and the public for which they serve, whether the Company will be able to maintain or expand its share of the markets in which it competes with the EVO-HD; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2020 and quarterly report on Form 10-Q for the three months ended March 31, 2021, as filed with the Securities and Exchange Commission.

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  • Digital Ally, Inc. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / March 31, 2021 / Digital Ally, Inc. (NASDAQ:DGLY) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on March 31, 2021 at 11:15 AM Eastern Time.

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  • DIGITAL ALLY, INC ANNOUNCES 2020 OPERATING RESULTS

    LENEXA, Kansas, March 31, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial applications, today announced its operating results for 2020. An investor conference call is scheduled for 11:15 p.m. EDT on Wednesday, March 31, 2021 (see details below). Highlights for the year ended December 31, 2020 ●Total revenues increased in 2020 to $10,514,868 from $10,441,364 in 2019. The primary reason for the overall revenue increase is an increase of $296,661 (3%), in product revenues, offset by a decline in service and other revenue of $223,157 (8%), from 2019 levels. Products revenues experienced an increase due to approximately $1.65 million of revenues generated by the Company’s new ThermoVU™ and Shield™ product lines introduced to the market in 2020. Service and other revenues declined over the prior period due to the impacts of the Covid-19 pandemic, as travel restrictions and the elimination of public events adversely affected our installation and situational security revenues. ●During 2020, the Company added two new lines of branded products: (1) the ThermoVu™ which is a line of self-contained temperature monitoring systems that provides alerts and controls facility access when an individual’s temperature exceeds a pre-set threshold and (2) our Shield™ disinfectants and cleansers which are for use against viruses and bacteria. We began offering such products beginning late in the second quarter 2020 and experienced strong demand during the third and fourth quarters resulting in total revenues for 2020 approximating $1.65 million. Shield™ disinfectants has been listed on the United States Environmental Protection Agency’s List N: Disinfectants for Use Against SARS-CoV-2, the virus that causes COVID-19. We expect continued revenue growth from these two new product lines in future quarters and are considering additional products to complement these new safety product lines. We are ramping up our supply chain for both of these new product lines, which are manufactured by third-parties. These branded products are being offered to our first responder customers including police, fire and paramedics. Commercial customers such as schools, cruise lines, taxi-cab and para transit are also be good candidates for the products, which the Company is actively pursuing. ●The Covid-19 pandemic delayed the shipment of orders throughout 2020 as police forces and governments reacted to its impact. In general, our salesmen were unable to travel and meet with potential customers as they normally do to demonstrate our hardware, to promote our integrated solutions and close hardware sales. Specifically, we were unable to ship the initial purchase orders under a substantial contract awarded by the Director of Strategic Procurement of a country for the expected deployment of body cameras to its entire national police force. The contract was expected to include up to 5,000 body cameras with our web-based software infrastructure service over a three-year period. Contract deliveries were suspended pending the government’s decision to freeze the planned deployment until such time as the pandemic is contained within its population. The initial purchase order was expected to ship during the first quarter 2020 with follow-on orders for the second and third quarters of 2020 and would have made a substantial impact to our product revenues for 2020. At this point, we are unable to forecast if and when this major project will be restarted or how it may be modified as a result of the pandemic. Upon completion, the original contract would have been the largest body camera deployment in our history and the largest contract for recurring service revenues for our web-based software related to the body cameras. ●The Company recorded a gain of $5,250,000 during the year 2020 resulting from the termination and extinguishment of all obligations related to the Proceeds Investment Agreement (the “PIA”). On July 20, 2020, the Company and the holder of the PIA executed a Termination Agreement and Mutual Release (the “Termination Agreement”). Upon payment of $1,250,000 by the Company both parties agreed to terminate the PIA and to release each other from any further liability thereunder. In addition, the Company further agreed to pay the following: (a) a contingent payment in the amount of $2,750,000 following the closing of an asset purchase, membership interest purchase, or similar transaction between the Company and a specified third-party (the “Purchase Transaction”) and (b) any and all future proceeds received from Watchguard and its successors and assigns by the Company for WatchGuard’s use of U.S. Patent Nos. 8,781,292 and 9,253,452. For clarity, the parties further agreed that the payment of the contingent payment would only be due and payable upon the closing of the specified Purchase Transaction. The Company has not completed the Purchase Transaction as defined in the mutual agreement and release during 2020; however, the Company is open and willing to proceed with the purchase transaction should the parties agree to the underlying terms. The Company continues to monitor the likelihood of future recoveries from Watchguard and its successors and assigns relative to WatchGuard’s use of U.S. Patent Nos. 8,781,292 and 9,253,452. ●On July 2, 2020 the SEC declared the Company’s shelf registration statement on Form S-3 effective. The Shelf Registration Statement provides the Company with access to liquidity from the public markets should it decide to utilize it for such purposes. The Shelf Registration Statement allows the Company to offer and sell, from time to time in one or more offerings, any combination of our common stock, debt securities, debt securities convertible into Common Stock or other securities in any combination thereof, rights to purchase shares of Common Stock or other securities in any combination thereof, warrants to purchase shares of Common Stock or other securities in any combination thereof or units consisting of Common Stock or other securities in any combination thereof having an aggregate initial offering price not exceeding $125,000,000. ●On August 21, 2020, the Company completed the purchase of a building which will serve as the company’s warehouse and distribution location for its new branded temperature screening device ThermoVU™ and its Shield™ line of disinfectant/cleanser products. The total purchase price was $420,000 and the Company used its available cash to close the building purchase. ●We have asserted two significant patent infringement lawsuit involving Axon and WatchGuard that have had significant impacts on our annual results primarily due to the timing and amount of legal fees expended on such lawsuits. We settled the WatchGuard lawsuit in May 2019 for a total payment from WatchGuard of $6.0 million. In June 2019 the District Court granted Axon’s Motion for Summary Judgment, and accepted Axon’s position that it did not infringe on our patents and dismissed the lawsuit. We appealed the District Court’s ruling. On April 22, 2020, a three-judge panel of the United States Court of Appeals denied our appeal and affirmed the District Court’s previous decision to grant Axon summary judgment. On May 22, 2020, we filed a petition for panel rehearing requesting that we be granted a rehearing of our appeal of the U.S. District Court’s summary judgment ruling. Furthermore, we requested that we be given an opportunity to make our case through oral argument in front of the three-judge panel of the Court of Appeals, all of which was denied. The Company has abandoned its right to any further appeals and this matter is now concluded. Our litigation costs related to the Axon and other lawsuits has declined substantially in 2020 compared to 2019 and previous years. Furthermore, we believe our future results will continue to be positively impacted form the conclusion of these legal matters. ●Our overall gross margin percentage increased to 39% in 2020 compared to 31% in 2019. The increase is attributable to the improved manufacturing efficiencies and improved margins on newer product lines. Our goal is to improve our margins to 60% over the longer term based on the expected margins of our EVO-HD, DVM-800, VuLink, FirstVU HD, ThermoVuTM, ShieldTM disinfectants and our cloud evidence storage and management offering, if they gain traction in the marketplace and subject to a normalizing economy in the wake of the COVID-19 pandemic. ●The COVID-19 pandemic represents a fluid situation that presents a wide range of potential impacts of varying durations for different global geographies, including locations where we have offices, employees, customers, vendors and other suppliers and business partners. Like most US-based businesses, the COVID-19 pandemic and efforts to mitigate the same began to have impacts on our business in March 2020. During 2020, we have observed decreases in demand from certain customers, including primarily our law-enforcement and commercial customers. Given the fact that our products are sold through a variety of distribution channels, we expect our sales will experience more volatility as a result of the changing and less predictable operational needs of many customers as a result of the COVID-19 pandemic. We are aware that many companies, including many of our suppliers and customers, are reporting or predicting negative impacts from COVID-19 on future operating results. Although we observed significant declines in demand for our products from certain customers during 2020, we believe that it remains too early for us to know the exact impact COVID-19 will have on the long-term demand for our products. We also cannot be certain how demand may shift over time as the impacts of the COVID-19 pandemic may go through several phases of varying severity and duration. To date, travel restrictions and border closures have not materially impacted our ability to obtain inventory or manufacture or deliver products or services to customers. However, if such restrictions become more severe, they could negatively impact those activities in a way that would harm our business over the long term. Travel restrictions impacting people can restrain our ability to assist our customers and distributors as well as impact our ability to develop new distribution channels, but at present we do not expect these restrictions on personal travel to be material to our business operations or financial results. We have taken steps to restrain and monitor our operating expenses and therefore we do not expect any such impacts to materially change the relationship between costs and revenues. Like most companies, we have taken a range of actions with respect to how we operate to assure we comply with government restrictions and guidelines as well as best practices to protect the health and well-being of our employees and our ability to continue operating our business effectively. To date, we have been able to operate our business effectively using these measures and to maintain all internal controls as documented and posted. We also have not experienced challenges in maintaining business continuity and do not expect to incur material expenditures to do so. However, the impacts of COVID-19 and efforts to mitigate the same have remained unpredictable and it remains possible that challenges may arise in the future. Recent Developments ●On January 14, 2021, we consummated an underwritten public offering of 2,800,000 shares of common stock and 7,200,000 prefunded purchase warrants of common stock, both at a price of $3.095 per share. The net proceeds, after deducting underwriting discounts and commissions but before deducting other expenses in connection with the offering, are approximately $29.01 million. We plan to use the net proceeds from the Offering for working capital, product development, order fulfillment and for general corporate purposes. This offering was completed under the Company’s effective shelf registration statement on Form S-3. ●On February 1, 2021, we consummated an underwritten public offering of 3,250,000 shares of common stock and 11,050,000 prefunded purchase warrants of common stock, both at a price of $2.799 per share. The net proceeds, after deducting underwriting discounts and commissions but before deducting other expenses in connection with the offering, are approximately $37.45 million. We plan to use the net proceeds from the Offering for working capital, product development, order fulfillment and for general corporate purposes. This offering was completed under the Company’s effective shelf registration statement on Form S-3. ●On February 24, 2021, the Company entered into a contract to purchase a 71,361 square foot building located in Lenexa Kansas which is intended to serve as the Company’s office and warehouse needs. The building contains approximately 30,000 square foot of office space and the remainder warehouse space. The total purchase price is approximately $5.3 million and is expected to close on or around May 1, 2021. Management Comments Stanton E. Ross, Chief Executive Officer of Digital Ally, stated, “We are very pleased to report an increase in total revenues together with a 74% improvement in our net loss for 2020 as compared to 2019. Importantly we were able to report improvements in revenue and net loss regardless of the challenges to our legacy business caused by the Covid-19 pandemic during 2020. Our decision not to stand still during the Covid-19 pandemic and proactively expand our product offerings to include the ThermoVU and Shield lines has proven to be successful as they generated approximately $1.65 million in combined revenues during the 2020. We are considering further expansion of the ThermoVU and Shield product lines to include complementary products that we hope they will achieve similar market acceptance. We also reduced our SG&A expenses (excluding the effect of the $6 million patent litigation settlement in 2019) significantly by reducing staffing levels, limiting travel and reducing many advertising and promotional activities. In addition, we have improved our balance sheet and liquidity position substantially during 2020 and in early 2021 through several public offerings. These offerings will provide us with the flexibility to take advantage of new business opportunities and to expand our existing business lines.to benefit the Company and its shareholders for 2021 and beyond” concluded Ross. 2020 Operating Results For the year ended December 31, 2020, our total revenue increased by 1% to approximately $10.5 million, compared with revenue of approximately $10.4 million for the year ended December 31, 2019. Gross profit increased 20% to $4,062,594 for the year ended December 31, 2020 versus $3,232,629 in 2019. Our gross margin increase is primarily attributable to the cost of sales as percentage of revenues decreasing to 61% for the year ended December 31, 2020 from 69% for the year ended December 31, 2019 paired with the slight increase in total revenue for 2020. Selling, General and Administrative (“SG&A”) expenses increased approximately 27% to $11,726,410 in the year ended December 31, 2020 versus $9,265,410 in 2019. The significant increase was attributable to the patent litigation settlement of $6.0 million that we received during 2019 that did not recur in 2020. Exclusive of such settlement, overall selling, general and administrative expenses as a percentage of sales increased to 112% for the year ended December 31, 2020 compared to 146% in 2019. We reported an operating loss of $7,663,651 for the year ended December 31, 2020, compared to an operating loss of $6,032,781 in 2019. We elected to account for the PIA that was entered into July of 2018 on its fair value basis. Therefore, we determined the fair value of the 2018 PIA as of December 31, 2020, and December 31, 2019 to be $0 and $6,500,000, respectively. During the year ended December 31, 2019, we settled our patent infringement litigation with WatchGuard and received a lump sum payment of $6.0 million as further described in Note 12. In accordance with the terms of the PIA, we remitted the $6.0 million as a principal payment toward our minimum return payment obligations under the PIA. The change in fair value from December 31, 2019 to December 31, 2020 was $5,250,000, which was recognized as a loss in the Consolidated Statement of Operations at December 31, 2020. On May 4, 2020 the Company received a $1,418,900 promissory note under the SBA’s PPP Loan through the CARES Act. On December 10, 2020, we were informed that the Company’s SBA Loan had been fully forgiven, less the EIDL Advance received ($10,000), thus the remaining balance has been released resulting in a gain on extinguishment of debt. We reported a net loss of ($2,625,881), or ($0.12) per share, in the year ended December 31, 2020 compared to a prior-year net loss of ($10,005,713) or ($0.87) per share. No income tax provision or benefit was recorded in the either 2020 or 2019 as the Company has maintained a full valuation reserve on its deferred tax assets. Investor Conference Call The Company will host an investor conference call at 11:15 p.m. EDT on Wednesday, March 31, 2021, to discuss its operating results for 2020, developments related to its disinfectant and safety products, the impact of the Covid-19 pandemic and other topics of interest. Shareholders and other interested parties may participate in the conference call by dialing 844-761-0863 and entering conference ID# 7465801 a few minutes before 11:15 p.m. EDT on Wednesday, March 31, 2021. A replay of the conference call will be available two hours after its completion, from March 31, 2021 until 11:59 p.m. on April 31, 2021 by dialing 855-859-2056 and entering the conference ID # 7465801. For additional news and information please visit or follow us on Twitter @digitalallyinc and Facebook www.facebook.com/DigitalAllyInc Follow additional Digital Ally Inc. social media channels here: Facebook | Instagram | LinkedIn | Twitter This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on our customers, suppliers and employees; whether it will be able to resolve its liquidity and operational issues given the impact of the Covid-19 pandemic; whether it will be able to achieve improved production and other efficiencies to restore its gross and operating margins in the future; whether the Company will be able to continue to expand into non-law enforcement markets, including disinfectant/sanitizer and temperature screening products, and increase its service based revenue; whether the Company has resolved its product quality and supply chain issues; whether the EVO-HD will help the Company increase its product revenues; whether the Company will continue to experience declines in legal expenses as a result of concluding its patent litigation; whether and the extent to which the US Patent and Trademark Office (USPTO) rulings will curtail, eliminate or otherwise have an effect on the actions of competitors and others in the marketplace respecting the Company, its products and customers; its ability to deliver its newer product offerings as scheduled, and in particular the new EVO-HD product platform, obtain the required components and products on a timely basis, and have them perform as planned; its ability to maintain or expand its share of the markets in which it competes, including those outside the law enforcement industry; whether it will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. It does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”). For Additional Information, Please Contact:Stanton E. Ross, CEO, at (913) 814-7774 orThomas J. Heckman, CFO, at (913) 814-7774(Financial Highlights Follow) DIGITAL ALLY, INC.CONDENSED CONSOLIDATED BALANCE SHEETSDECEMBER 31, 2020 AND 2019 December 31, 2020 December 31, 2019 Assets Current assets: Cash and cash equivalents $4,361,758 $359,685 Accounts receivable-trade, less allowance for doubtful accounts of $123,224 – 2020 and 2019 1,705,461 1,071,018 Accounts receivable-other 1,529,920 514,730 Inventories, net 8,202,274 5,280,412 Income tax refund receivable, current - 44,650 Prepaid expenses and other current assets 2,030,693 381,090 Total current assets 17,830,106 7,651,585 Land, building and equipment, net 666,800 197,063 Intangible assets, net 392,564 413,268 Operating lease right of use assets, net 753,175 122,459 Other assets 1,154,881 532,500 Total assets $20,797,527 $8,916,875 Liabilities and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable $1,144,675 $2,339,985 Accrued expenses 796,094 845,881 Operating lease obligations – Current 113,484 159,160 Contract liabilities – Current 1,647,469 1,707,943 Debt obligations – Current 11,727 1,827,748 Income taxes payable 7,158 5,934 Total current liabilities 3,720,606 6,886,651 Long-term liabilities: Proceeds investment agreement obligation, at fair value – Long-term — 6,500,000 Operating lease obligation – Long-term 723,272 44,460 Debt obligations – Long-term 148,272 — Contract liabilities – Long-term 1,848,869 1,803,143 Total liabilities 6,441,021 15,234,254 Commitments and contingencies Stockholders’ Equity (Deficit): Common stock, $0.001 par value per share; 100,000,000 and 50,000,000 shares authorized, respectively; shares issued: 26,834,709 – December 31, 2020 and 12,079,095 – December 31, 2019 26,835 12,079 Additional paid in capital 106,501,396 83,216,387 Treasury stock, at cost (63,518 shares) (2,157,225) (2,157,226)Accumulated deficit (90,014,500) (87,388,619) Total stockholders’ equity (deficit) 14,356,506 (6,317,379) Total liabilities and stockholders’ equity (deficit) $20,797,527 $8,916,875 (FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020 FILED WITH THE SEC) DIGITAL ALLY, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSFOR THE YEARS ENDEDDECEMBER 31, 2020 AND 2019 2020 2019 Revenue: Product $8,029,457 $7,732,796 Service and other 2,485,411 2,708,568 Total revenue 10,514,868 10,441,364 Cost of revenue: Product 5,739,572 6,577,347 Service and other 712,702 631,388 Total cost of revenue 6,452,274 7,208,735 Gross profit 4,062,594 3,232,629 Selling, general and administrative expenses: Research and development expense 1,842,800 2,005,717 Selling, advertising and promotional expense 2,607,242 3,652,434 General and administrative expense 7,276,203 9,607,259 Patent litigation settlement — (6,000,000) Total selling, general and administrative expenses 11,726,245 9,265,410 Operating loss (7,663,651) (6,032,781) Other income (expense) Interest income 47,893 37,410 Interest expense (342,379) (43,373)Change in fair value of secured convertible notes (1,300,252) (519,821)Change in fair value of proceeds investment agreement 5,250,000 (3,358,000)Gain on the extinguishment of debt 1,417,413 — Secured convertible notes issuance expense (34,906) (89,148) Total other income (expense) 5,037,769 (3,972,932) Loss before income tax expense (benefit) (2,625,881) (10,005,713)Income tax expense (benefit) — — Net loss $(2,625,881) $(10,005,713) Net loss per share information: Basic $(0.12) $(0.87)Diluted $(0.12) $(0.87) Weighted average shares outstanding: Basic 21,603,635 11,478,618 Diluted 21,603,635 11,478,618 (FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020 FILED WITH THE SEC)

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  • Digital Ally Inks New Multi-Year Contract to Outfit Officers and Vehicles with Body-Worn and In-Car Camera Systems

    Soddy-Daisy Police Department takes advantage of the Company’s popular subscription payment plan Lenexa, KS, March 30, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced it has received a new multi-year contract from Soddy-Daisy Police Department (TN) for twenty-one (21) EVO-HD in-car systems, twenty-two (22) FirstVu HD body-worn cameras, one (1) EVO-HD interview room solution and full access to the EVO Web Portal cloud storage solution. Soddy-Daisy PD continues an on-going trend of new customer orders purchased with the help of the Company’s subscription payment plan. “The flexibility of the EVO-HD, with its built-in auto-activation technology and body camera connectivity, made it an easy choice to outfit our vehicles and officers,” said Chief of Police Mike Sneed, adding, “We look forward to working with Digital Ally and continuing to protect and serve our community.” “We are proud to begin working with the officers of Soddy-Daisy Police Department by providing them with this much needed technology,” said Stan Ross, CEO of Digital Ally, adding, “The EVO-HD paired with the FirstVu HD body-worn camera continues to prove that they are an essential tool to everyday law enforcement officers. Digital Ally looks forward to a great relationship with Soddy-Daisy and the community they serve.” About Digital AllyDigital Ally® specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and event security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. In addition, Digital Ally launched the Shield Health Protection Products line including Shield Cleansers, a highly effective, yet safe, disinfectant and sanitizer for use against SARS-CoV-2, a non-contact thermometer/controlled-entry device, an electrostatic sprayer for fast and efficient disinfecting of large areas, and a variety of personal protective equipment including face masks, gloves and sanitizer wipes. For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here: Facebook I Instagram I Linkedin I Twitter Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774info@digitalallyinc.com This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to maintain or expand its share of the markets in which it competes with the EVO-HD; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the three and nine months ended September 30, 2020, as filed with the Securities and Exchange Commission.

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  • Digital Ally, Inc. Sets Date to Announce Fourth Quarter 2020 and Year-End Operating Results

    Digital Ally to Discuss Year-End Earnings Call Wednesday, March 31, 2021 at 11:15 a.m. Eastern Time Lenexa, KS, March 23, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced that it will host an investor conference call on Wednesday, March 31, 2021 at 11:15 a.m. Eastern time to discuss its operating results for the fourth quarter and year ended December 31, 2020, its ShieldTM Health Protection Product line and other topics of interest. The Company will release its operating results for the fiscal 2020 year in a press release prior to the investor conference call on March 31, 2021. Shareholders and other interested parties may participate in the conference call by dialing 844-761-0863 and entering conference ID #7465801 a few minutes before 11:15 a.m. Eastern on Wednesday, March 31, 2021. A replay of the conference call will be available two hours after its completion, from Wednesday, March 31, 2021 until 11:59 p.m. on Monday, May 31, 2021 by dialing 855-859-2056 and entering the conference ID #7465801. About Digital Ally Digital Ally® specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and event security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. In addition, Digital Ally launched the Shield Health Protection Products line including Shield Cleansers, a highly effective, yet safe, disinfectant and sanitizer for use against SARS-CoV-2, a non-contact thermometer/controlled-entry device, an electrostatic sprayer for fast and efficient disinfecting of large areas, and a variety of personal protective equipment including face masks, gloves and sanitizer wipes. For additional news and information please visit: https://www.digitalallyinc.com/ Follow additional Digital Ally Inc. social media channels here:Facebook I Instagram I Linkedin I Twitter Contact InformationStanton Ross, CEOTom Heckman, CFODigital Ally, Inc.913-814-7774info@digitalallyinc.com

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  • Digital Ally Awarded Notable Multi-Year Order for its EVO-HD In-Car Systems and Body-Worn Cameras

    Bowling Green Police Department to upgrade to complete ecosystem of video evidence technology with Digital Ally’s subscription payment plan Lenexa, KS, March 02, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced it has received a multi-year upgrade order from Bowling Green Police Department (OH) for eighteen (18) EVO-HD in-car recording systems, thirty-five (35) FirstVu HD body-worn cameras and full access to the EVO Web Portal storage solution powered by Amazon Web Services. Bowling Green PD, a legacy customer of Digital Ally, has purchased this technology through the Company’s subscription payment plan available for first responders. “Body cameras and in-car video systems remain critically important to police officers and the communities they serve,” said Stan Ross, CEO of Digital Ally, adding “Making this necessary technology readily available, with less up-front capital expenditure, has been a key driving force behind our subscription payment plans. We’re proud of the Bowling Green Police Department in taking the necessary steps to keep its community safe.” About Digital Ally Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide. For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here: Facebook I Instagram I LinkedIn I Twitter Contact InformationStanton Ross, CEOTom Heckman, CFODigital Ally, Inc.913-814-7774info@digitalallyinc.com This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to maintain or expand its share of the markets in which it competes with the EVO-HD; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the three and nine months ended September 30, 2020, as filed with the Securities and Exchange Commission.

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  • What Percentage Of Digital Ally, Inc. (NASDAQ:DGLY) Shares Do Insiders Own?

    Every investor in Digital Ally, Inc. ( NASDAQ:DGLY ) should be aware of the most powerful shareholder groups...

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  • Digital Ally Announces Notable Multi-Year Order for its Body Cameras and EVO-HD In-Car System for Law Enforcement

    Pickerington Police Department to upgrade to complete ecosystem of video evidence technology with Digital Ally’s subscription payment plan Lenexa, KS, Jan. 29, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced it has received a multi-year upgrade order from Pickerington Police Department (OH) for its complete front- to back-end video evidence solution that includes twenty-five (25) FirstVu HD body-worn cameras, five (5) EVO-HD in-car camera systems, and EVO GovCloud storage solution powered by Amazon Web Services. This order has been purchased through the Company’s subscription payment plan available for first responders. “We are very excited to upgrade our fleet of vehicles to the EVO-HD in-car system and continuing to expand the use of body cameras,” said Chief Tod Cheney, adding, “Digital Ally’s flexible subscription payment program allowed us to work within our budget to make these necessary purchases and upgrade our technology.” “We are excited to continue working with the Pickerington Police Department and providing them with the necessary tools needed to serve and protect their community,” said Stan Ross, CEO of Digital Ally, adding, “We are also proud to continue to offer our subscription and deferred payment plans that give agencies the ability to purchase this technology in an affordable fashion. This order, and many others, demonstrates the need for budget-friendly payment plans for law enforcement. Digital Ally remains committed to serving all military, law enforcement and first responders and the communities they serve.” About Digital Ally Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide. For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here: Facebook I Instagram I LinkedIn I Twitter Contact InformationStanton Ross, CEOTom Heckman, CFODigital Ally, Inc.913-814-7774info@digitalallyinc.com This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to maintain or expand its share of the markets in which it competes with the EVO-HD; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the three and nine months ended September 30, 2020, as filed with the Securities and Exchange Commission.

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  • U.S. Patent Office Approves Three New Patents for Digital Ally

    Digital Ally further strengthens foothold in the video solutions industry for Law Enforcement Lenexa, KS, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced the addition of U.S. Patent numbers 10,904,474, 10,885,937, and 10,860,866 to the Company’s extensive patent portfolio. These patents further strengthen the Company’s position as the innovation leader in the video solutions industry for law enforcement. The 10,904,474 patent is directed to a video collection method and system that is useful in law enforcement, schools, hospitals, factories, and businesses. The system includes a body-worn camera that can be connected to a camera dock and a remote video collection manager. Both the camera dock and the video collection manager can store video. The video collection manager further determines what video data to store, where to store the video data, and how to store the video data. The 10,885,937 patent is a continuation of the Company’s VuLink® auto-activation patent (No. 8,781,292). It is directed to a system for managing data from multiple video recording devices. For example, a police officer can wear a body camera that collects audio and video information from the officer’s point-of-view. Additionally, various vehicle cameras and microphones may record events surrounding a police vehicle. When any of the recording devices are triggered to record, a signal can be sent to initiate recording of other recording devices and a time stamp can be used to sync the recording devices. When the recording is complete, the other recording devices are signaled to stop recording and recorded data from all recording devices can be linked and stored. The 10,860,866 patent is directed to a method and system for capturing vehicle identification data. The system includes video cameras and a computer for collecting video data of vehicles and determining vehicle markings, such as license plate numbers. The images are enhanced to maximize the likelihood of capturing legible vehicle markings by using specific scanning attributes (such as gain, gain shutter speed, and white balance). Images depicting legible vehicle markings are stored. “As the true innovators and patent leaders in our industry, these important patents demonstrate Digital Ally’s commitment to outfitting law enforcement and first responders with the best technology possible for the safety of personnel and the protection and service of the communities they serve,” said Stan Ross, CEO of Digital Ally. About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide. For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here: Facebook I Instagram I LinkedIn I Twitter Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774info@digitalallyinc.com Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the 10,904,474, 10,885,937, and 10,860,866 Patents will help expand the Company share of the law enforcement market; whether the Company will be able to adapt the technology underlying the 10,904,474, 10,885,937, and 10,860,866 Patents to perform as intended and on a cost effective basis; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the three and nine months ended September 30, 2020, as filed with the Securities and Exchange Commission.

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  • Digital Ally, Inc. Announces Pricing of $40.04 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

    LENEXA, KANSAS, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc., (NASDAQ: DGLY) (the "Company"), which develops, manufactures and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced that it has entered into a securities purchase agreement with institutional investors for the issuance and sale of 14,300,000 its shares of common stock (pursuant to the direct sale of shares of the Company’s common stock and pre-funded warrants issuable to investors who would, otherwise, beneficially own more than 9.99% of the Company’s outstanding shares of common stock, if issued shares of common stock) and warrants to purchase up to 14,300,000 of its shares of common stock at a price of $2.80 per share and accompanying warrant for aggregate gross proceeds of $40,040,000, in a registered direct offering priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $3.25 per share, are exercisable immediately and will expire five years following the date of issuance. Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as exclusive placement agent for the offering. The offering is expected to close on or about February 1, 2021, subject to the satisfaction of customary closing conditions. The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-239419) previously filed with the Securities and Exchange Commission (the "SEC") on June 25, 2020, and declared effective on July 2, 2020. The offering of the shares of common stock and accompanying warrants, and pre-funded warrants and accompanying warrants, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, describing the terms of the proposed offering, which will be filed with the SEC. The Company will also file a Form 8-K in connection with the securities purchase agreement and the closing of the offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. When available, copies of the prospectus supplement relating to this registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at (212) 404-7002. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. About Digital Ally Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of high quality video recording equipment, video analytic software and disinfectant and related safety products. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety, safety products and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The Company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide. For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally, Inc. social media channels here: Facebook I Instagram I LinkedIn I Twitter Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774 info@digitalallyinc.com Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company’s ability to complete the financing, its intended use of proceeds, the Company’s ability to comply with the applicable continued listing requirements or standards of Nasdaq, competition from larger, more established companies with far greater economic and human resources, its ability to attract and retain customers and quality employees, the effect of changing economic conditions, and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its shelf registration statement on Form S-3 (File No. 333-239419), as filed with the Securities and Exchange Commission.

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  • Digital Ally, Inc. Announces Pricing of $30.95 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

    LENEXA, KANSAS, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc., (NASDAQ: DGLY) (the "Company"), which develops, manufactures and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced that it has entered into a securities purchase agreement with institutional investors for the issuance and sale of 10,000,000 its shares of common stock (pursuant to the direct sale of shares of the Company’s common stock and pre-funded warrants issuable to investors who would beneficially own more than 9.99% of the Company’s outstanding shares of common stock) and warrants to purchase up to 10,000,000 of its shares of common stock at a price of $3.095 per share and accompanying warrant for aggregate gross proceeds of $30,950,000, in a registered direct offering priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $3.25 per share, are exercisable immediately and will expire five years following the date of issuance. Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as exclusive placement agent for the offering.The offering is expected to close on or about January 14, 2021, subject to the satisfaction of customary closing conditions.The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-239419) previously filed with the Securities and Exchange Commission (the "SEC") on June 25, 2020, and declared effective on July 2, 2020. The offering of the shares of common stock and accompanying warrants, and pre-funded warrants and accompanying warrants, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, describing the terms of the proposed offering, which will be filed with the SEC. The Company will also file a Form 8-K in connection with the securities purchase agreement and the closing of the offering.This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.When available, copies of the prospectus supplement relating to this registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at syndicate@kingswoodcm.com or telephone at (212) 404-7002. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.About Digital Ally Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of high quality video recording equipment, video analytic software and disinfectant and related safety products. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety, safety products and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The Company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally, Inc. social media channels here:Facebook I Instagram I LinkedIn I Twitter Contact InformationStanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774 info@digitalallyinc.comForward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company’s ability to complete the financing, its intended use of proceeds, the Company’s ability to comply with the applicable continued listing requirements or standards of Nasdaq, competition from larger, more established companies with far greater economic and human resources, its ability to attract and retain customers and quality employees, the effect of changing economic conditions, and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its shelf registration statement on Form S-3 (File No. 333-239419), as filed with the Securities and Exchange Commission.

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  • PreMarket Prep Stock Of The Day: Digital Ally

    Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.On any given day, the show will cover at least 20 stocks determined by co-hosts Joel Elconin and Dennis Dick along with producer Spencer Israel.On most occasions when a company does a stock offering, investors react negatively as it dilutes the holdings of their current stake. When a company announces an offering, then immediately rescind it, it could be even worse.This exact scenario is what took place with Digital Ally (NASDAQ: DGLY) and is the PreMarket Prep Stock Of the Day.The Company: Digital Ally produces digital video imaging and storage products for use in law enforcement, security, and commercial applications. Its products are an in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets.The company sells its products to law enforcement agencies and other security organizations and consumer and commercial fleet operators through direct sales domestically and third-party distributors internationally.Long-Term Loser: The issue made its all-time high in June 2008 at $91.28. It cratered to end the year at $24.72 and wasn't done going down. It withered away over the next five years and didn't find a bottom until June 2014 at $3.30.The road to zero was halted at $0.64 in March 2020. Amidst the summer riots, the issue spiked to $7.10 in June, but once again couldn't hold gains and ended that month at $3.14.The rinse and repeat cycle continued taking the issue to $1.80 in September, however, the muted rally off that low came to an end on Wednesday at $3.98.Getting When The Getting Is Good: As a result of the events at the U.S. Capitol on Wednesday, Digital Ally had its best day since Nov. 2 ($2.24 to $3.04), rallying from $2.74 to $3.63.At 7:17 p.m. EST, in order to raise some capital, the company announced it intends to offer shares of its common stock for sale in an underwritten public offering. The Company expects to grant the underwriter a 45-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering solely to cover over-allotments, if any.The Street Says 'Not So Fast': Immediately after the press release in the after-hour session, the issue began to retreat from its closing price on heavy volume. By the end of after-hours trading, the issue erased all of Wednesday's gains, ending the session at $2.68.At 10 p.m., the company announced that due to market conditions, it elected not to proceed at this time with its plans to pursue an underwritten public offering of its common stock.Thursday's Price Action: Off the open of the premarket session, some investors anticipated that the cancellation of the stock offering would result in the issue returning to Wednesday's lofty levels. Within 15 minutes of the open, it rallied on heavy volume to $3.49 and sharply reversed course.That enthusiasm began to fade and the issue opened the regular session at its high for the day at $3.03. As of 12 p.m., it has come within a few pennies of Wednesday's low, bottoming at $2.62, and is attempting to rebound.See more from Benzinga * Click here for options trades from Benzinga * PreMarket Prep Stock Of The Day: DraftKings * PreMarket Prep Stock Of The Day: Marathon Patent Group(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • DIGITAL ALLY ANNOUNCES DECISION NOT TO PROCEED WITH PROPOSED UNDERWRITTEN PUBLIC OFFERING OF COMMON STOCK

    Lenexa, KS, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, announced that, due to market conditions, it has elected not to proceed at this time with its previously announced plans to pursue an underwritten public offering of its common stock. Digital Ally remains well capitalized and expects that its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements until at least the end of 2021.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of high quality video recording equipment, video analytic software and disinfectant and related safety products. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety, safety products and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The Company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally, Inc. social media channels here:Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774 info@digitalallyinc.comThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company's ability to complete the financing, its intended use of proceeds, the Company’s ability to comply with the applicable continued listing requirements or standards of Nasdaq, competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes," "expects," "anticipates," "intends," "estimates," "plans," "projects," "should," or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its shelf registration statement on Form S-3 (No. 333-239419), as filed with the Securities and Exchange Commission.

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  • DIGITAL ALLY ANNOUNCES PROPOSED UNDERWRITTEN PUBLIC OFFERING OF COMMON STOCK

    Lenexa, KS, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced that it intends to offer shares of its common stock for sale in an underwritten public offering. In addition, the Company expects to grant the underwriter a 45-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering solely to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for working capital, product development, order fulfillment and for general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Aegis Capital Corp. is acting as the sole book-running manager for the offering.This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-239419) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 25, 2020 and declared effective by the SEC on July 2, 2020. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of high quality video recording equipment, video analytic software and disinfectant and related safety products. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety, safety products and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The Company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally, Inc. social media channels here:Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774 info@digitalallyinc.comThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company's ability to complete the financing, its intended use of proceeds, the Company’s ability to comply with the applicable continued listing requirements or standards of Nasdaq, competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes," "expects," "anticipates," "intends," "estimates," "plans," "projects," "should," or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its shelf registration statement on Form S-3 (No. 333-239419), as filed with the Securities and Exchange Commission.

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  • Digital Ally Announces CRO Hire to Oversee Sales and Marketing at Critical Growth Stage

    Move comes as company continues investment in core product enhancements, safety products, and other emerging channels Lenexa, KS, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY), the “Company”, which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced the appointment of Mark Shrout to the position of Chief Revenue Officer. The hire comes as the company continues to invest aggressively in video recording product enhancements, as well as in it’s Shield™ virus-response line of disinfectant/sanitizers, electrostatic sprayers, temperature-screening units and PPE products.“The board and I are excited to have Mark join us at this crucial growth stage of the company,” said Stan Ross, CEO of Digital Ally, adding, “Mark has consulted with us over the last several months and we decided that the best way for us to drive profitable revenues was by having him on board full-time in a leadership position.”Shrout has over thirty-three years of sales, marketing and management experience, applying best practices in sales process, structure, technology, human capital and marketing integration.About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched virus-response product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. The company has also recently launched its Shield line of PPE products, including electrostatic sprayers, masks and gloves. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additionalDigital Ally Inc. social media channels here:Facebook I Instagram I LinkedIn I TwitterContact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774 info@digitalallyinc.comThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will invest in enhancements to its video recording products and it’s Shield™ virus-response line of disinfectant/sanitizers, electrostatic sprayers, temperature-screening units and PPE products; whether such investment in product enhancements will result in an expansion in its share of the markets in which it competes; whether the Company’s appointment of a Chief Revenue Officer will result in an increase in overall Company revenues; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the three and nine months ended September 30, 2020, as filed with the Securities and Exchange Commission.

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  • Digital Ally Announces New Customer Order for its EVO-HD In-Car System and Body-Worn Cameras

    Franklin County Sheriff’s Office uses Digital Ally’s subscription payment plan to outfit its department with the complete ecosystem of video evidence recording technology Lenexa, KS, Dec. 28, 2020 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY), the “Company”, which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced it has received a significant order from Franklin County Sheriff’s Office (KY) for fifteen (15) of its highly advanced EVO-HD in-car camera systems paired with FirstVu HD body-worn cameras, patented VuLink® auto-activation technology and EVO GovCloud storage solution powered by Amazon Web Services. This order will be purchased on the Company’s subscription payment plan available for first responders.“After extensive testing and evaluation, we chose Digital Ally as our sole provider for in-car cameras, body cameras, and evidence management software. The ability for their equipment to work seamlessly together and have all video evidence hosted on one centralized platform made it an easy decision. We look forward to a long relationship with Digital Ally,” said Sheriff Chris Quire.“We are proud to be the preferred provider of evidence recording technology and storage for the Franklin County Sheriff’s Office. Body cameras and in-car video systems are critically important to the safety and security of all concerned,” said Stan Ross CEO of Digital Ally, adding “Digital Ally is committed to providing the necessary technology to law enforcement by any means necessary. We look forward to working with the officers of Franklin County and the community.”About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally recently launched two new product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additionalDigital Ally Inc. social media channels here:Facebook I Instagram I LinkedIn I TwitterContact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc. 913-814-7774info@digitalallyinc.comThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to maintain or expand its share of the markets in which it competes with the EVO-HD; whether and the extent to which customers will purchase the Company’s products because of the Company’s VuLink® technology; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019 and quarterly report on Form 10-Q for the three and nine months ended September 30, 2020, as filed with the Securities and Exchange Commission.

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  • Digital Ally to Equip All Goodcents Restaurants with Shield™ Disinfectant/Sanitizers and ThermoVu™ Non-Contact Temperature Screening Devices

    Goodcents, as part of its Certified Clean Program, will be the first major US franchise to fully implement Digital Ally’s complete line of COVID-19 safety productsLenexa, KS, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced it will equip all 63 Goodcents restaurants with ShieldTM Disinfectant/Sanitizer, ThermoVuTM non-contact temperature screening devices and electrostatic sprayers by late January 2021.In early 2020 Digital Ally launched multiple product lines in direct response to the increased safety precautions organizations and individuals are taking due to the COVID-19 pandemic. Goodcents, a Kansas-based sub shop, marks the first major US restaurant franchise to fully implement Digital Ally’s complete line of safety products. The products will be supplied and serviced by Trust Think Products, the preferred distributor of Shield and Digital Ally. Shelli Hornberger, COO of Trust Think Products, said “We are proud to carry the ShieldTM line of products as well as the ThermoVuTM from Digital Ally. We will continue to do our part in the fight to keep our community safe.”“Our number one goal is to provide the safest working and eating environment possible for our employees and guests,” said Farrellynn Wolf, CEO of Goodcents, adding “We’ve spared no effort or expense to reach this goal by implementing the use of ShieldTM Disinfectant/Sanitizer, ThermoVuTM non-contact temperature screening devices and electrostatic sprayers.”“The onset of COVID-19 has of course made virus-fighting weapons such as disinfectants and temperature-measurement instruments critical to public safety,” said Stan Ross, CEO of Digital Ally, adding, “Our experience working for the mission critical law enforcement market and under stringent regulations at all levels, position us to provide the public with vital safety products that meet and exceed all relevant government regulations and guidelines. We are proud of our partnership with Goodcents in taking the necessary precautions to provide a safe work environment for all employees and guests.”ShieldTM Disinfectant/Sanitizer, registered on the EPA List N: Disinfectants for Coronavirus (COVID-19), and several other related products are a less harsh, non-toxic, and food-safe alternative to many of the traditional disinfecting products now widely distributed.ShieldTM Electrostatic Sprayer is a compact and lightweight disinfecting sprayer designed to be used with Shield Disinfectant/Sanitizer. Electrostatic sprayers are commonly used in commercial settings to quickly and effectively disinfect common areas and hard-to-reach corners.ThermoVuTM is a non-contact temperature-measuring instrument that measures temperature through the wrist, provides an instant pass/fail audible tone, and controls entry to facilities when temperature measurements exceed pre-determined parameters.About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally launched two new product lines in response to the COVID-19 pandemic, including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additionalDigital Ally Inc. social media channels here:Facebook I Instagram I LinkedIn I TwitterContact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc 913-814-7774 info@digitalallyinc.comThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether Goodcents will complete the purchase and distribution of the ShieldTM Disinfectant/Sanitizer, ThermoVu™ units, and electrostatic sprayers under this purchase order; whether the Company’s line of safety products will result in the desired safest working and eating environment for Goodcents employees and guests; whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on its customers, suppliers and employees; whether the Company will effectively manage the disruptions to its supply chain and business activities caused by the Covid-19 pandemic; whether the Company will be able to effectively market and distribute the Shield™ and ThermoVu™ product lines to its customers; whether the Company can acquire Shield™ and ThermoVu™ products in the quantities and on a timely basis to fulfill its customers’ orders; whether the Company will be able to distribute the Shield™ and ThermoVu™ products in a cost-effective, profitable manner; whether Shield™ products will be proven effective against the Covid-19 virus as claimed by its manufacturer; whether the ThermoVu™ product will perform as anticipated; whether the Company’s new products will meet applicable government regulations as promulgated; whether the Company will be able to adapt its technology and products to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019, and its Quarterly Report on Form 10-Q for the three and nine months ended September 31, 2020 as filed with the Securities and Exchange Commission.

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  • DIGITAL ALLY, INC ANNOUNCES THIRD QUARTER 2020 OPERATING RESULTS

    Company reports 23% revenue increase and earnings per share of $.02 for the third quarter 2020 LENEXA, Kansas, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial applications, today announced its third quarter 2020 operating results. An investor conference call is scheduled for 11:15 p.m. EDT on Thursday, November 12, 2020 (see details below).Highlights for the Third quarter Ended September 30, 2020●Total revenues increased 23% in the third quarter 2020 to $3,588,640 from $2,923,148 in the comparable 2019 period. Total revenues for the third quarter 2020 represent the highest quarterly revenue amount reported by the Company since the first quarter of 2017. The overall revenue increase is attributable to approximately $1.1 million of revenues generated by the Company’s new ThermoVU™ and Shield™ product lines during the third quarter 2020.    ●Our third quarter 2020 basic and diluted earnings per share was $0.02 representing a significant improvement from the net loss per share of ($0.26) reported in the comparable quarter in 2019. The improvement is primarily attributable to the 23% increase in total revenues, the 12% decrease in selling, general and administrative expenses and the $2,365,000 gain reported from the termination and extinguishment of the PIA obligation during the third quarter 2020 as compared to the similar period in 2019. Our earnings per share of $.02 represents for the third quarter 2020 represent our highest earnings per share amount reported by the Company since the first quarter of 2013.    ●The Company recently added two new lines of branded products: (1) the ThermoVu™ which is a line of self-contained temperature monitoring systems that provides alerts and controls facility access when an individual’s temperature exceeds a pre-set threshold and (2) our Shield™ disinfectants and cleansers which are for use against viruses and bacteria. We began offering such products beginning late in the second quarter 2020 and experienced strong demand during the third quarter resulting in total revenues for the quarter approximating $1.1 million. Shield™ disinfectants has been listed on the United States Environmental Protection Agency’s List N: Disinfectants for Use Against SARS-CoV-2, the virus that causes COVID-19. We expect continued revenue growth from these two new product lines in future quarters and are considering additional products to complement these new safety product lines. We are ramping up our supply chain for both of these new product lines, which are manufactured by third-parties. These branded products are being offered to our first responder customers including police, fire and paramedics. Commercial customers such as schools, cruise lines, taxi-cab and para transit are also be good candidates for the products, which the Company is actively pursuing.    ●The Covid-19 pandemic continued to delay the shipment of some orders in the third quarter 2020 as police forces and governments reacted to its impact. In general, our salesmen were unable to travel and meet with potential customers as they normally do to demonstrate our hardware, to promote our integrated solutions and close hardware sales. Specifically, we were unable to ship the initial purchase orders under a substantial contract awarded by the Director of Strategic Procurement of a country for the expected deployment of body cameras to its entire national police force. The contract was expected to include up to 5,000 body cameras with our web-based software infrastructure service over a three-year period. Contract deliveries were suspended pending the government’s decision to freeze the planned deployment until such time as the pandemic is contained within its population. The initial purchase order was expected to ship during the first quarter 2020 with follow-on orders for the second and third quarters of 2020 and would have made a substantial impact to our product revenues for the third quarter of 2020. At this point, we are unable to forecast if and when this major project will be restarted or how it may be modified as a result of the pandemic. Upon completion, the original contract would have been the largest body camera deployment in our history and the largest contract for recurring service revenues for our web-based software related to the body cameras.     ●The Company recorded a gain of $2,365,000 during the third quarter 2020 resulting from the termination and extinguishment of all obligations related to the Proceeds Investment Agreement (the “PIA”). On July 20, 2020, the Company and the holder of the PIA executed a Termination Agreement and Mutual Release (the “Termination Agreement”). Upon payment of $1,250,000 by the Company both parties agreed to terminate the PIA and to release each other from any further liability thereunder. In addition, the Company further agreed to pay the following: (a) a contingent payment in the amount of $2,750,000 following the closing of an asset purchase, membership interest purchase, or similar transaction between the Company and a specified third-party (the “Purchase Transaction”) and (b) any and all future proceeds received from Watchguard and its successors and assigns by the Company for WatchGuard’s use of U.S. Patent Nos. 8,781,292 and 9,253,452. For clarity, the parties further agreed that the payment of the contingent payment would only be due and payable upon the closing of the specified Purchase Transaction and would automatically terminate if the specified Purchase Transaction was abandoned prior to its closing. The Company abandoned the Purchase Transaction during the third quarter 2020 and therefore, the contingent payment obligation automatically terminated. The Company recorded a as the specified Purchase Transaction was abandoned prior to its closing. Furthermore, the Company does not anticipate any future recoveries from Watchguard and its successors and assigns relative to WatchGuard’s use of U.S. Patent Nos. 8,781,292 and 9,253,452.    ●On July 2, 2020 the SEC declared the Company’s shelf registration statement on Form S-3 effective. The Shelf Registration Statement will provide the Company with access to liquidity from the public markets should it decide to utilize it for such purposes. The Shelf Registration Statement allows the Company to offer and sell, from time to time in one or more offerings, any combination of our common stock, debt securities, debt securities convertible into Common Stock or other securities in any combination thereof, rights to purchase shares of Common Stock or other securities in any combination thereof, warrants to purchase shares of Common Stock or other securities in any combination thereof or units consisting of Common Stock or other securities in any combination thereof having an aggregate initial offering price not exceeding $125,000,000.    ●On August 21, 2020, the Company completed the purchase of a building which will serve as the company’s warehouse and distribution location for its new branded temperature screening device ThermoVU™ and its Shield™ line of disinfectant/cleanser products. The total purchase price was $420,000 and the Company used its available cash to close the building purchase.    ●We have asserted two significant patent infringement lawsuit involving Axon and WatchGuard that have had significant impacts on our quarterly results primarily due to the timing and amount of legal fees expended on such lawsuits. We settled the WatchGuard lawsuit in May 2019 for a total payment from WatchGuard of $6.0 million. In June 2019 the District Court granted Axon’s Motion for Summary Judgment, and accepted Axon’s position that it did not infringe on our patents and dismissed the lawsuit. We appealed the District Court’s ruling. On April 22, 2020, a three-judge panel of the United States Court of Appeals denied our appeal and affirmed the District Court’s previous decision to grant Axon summary judgment. On May 22, 2020, we filed a petition for panel rehearing requesting that we be granted a rehearing of our appeal of the U.S. District Court’s summary judgment ruling. Furthermore, we requested that we be given an opportunity to make our case through oral argument in front of the three-judge panel of the Court of Appeals, all of which was denied. The Company has abandoned its right to any further appeals and this matter is now concluded. Our litigation costs related to the Axon and other lawsuits has declined substantially in 2020 compared to 2019 and previous years. Furthermore, we believe our future quarterly results during the remainder of 2020 and beyond will continue to be positively impacted form the conclusion of these legal matters..    ●Our overall gross margin percentage declined to 34.1% in the third quarter 2020 compared to 40.7% in the 2019 period. The deterioration is attributable to the manufacturing inefficiencies and unfavorable overhead variances caused by the Covid-19 pandemic. We also continued to experience significant disruptions in the third quarter 2020 because we moved our office, manufacturing and warehouse facility to a newer and smaller location during June 2020.    ●Selling, general and administrative expenses were $3,066,606 and $3,468,709 for the third quarter 2020 and 2019, respectively, a decrease of $402,103 (12%). The significant decrease was the result of lower litigation costs due to the Company abandoning the Axon patent infringement lawsuit, sales and support staff headcount reductions due to the COVID-19 pandemic and we reduced overall travel in response to the impact of the Covid-19 pandemic during the third quarter 2020.    ●The COVID-19 pandemic represents a fluid situation that presents a wide range of potential impacts of varying durations for different global geographies, including locations where we have offices, employees, customers, vendors and other suppliers and business partners. Like most US-based businesses, the COVID-19 pandemic and efforts to mitigate the same began to have impacts on our business in March 2020. By that time, much of our first fiscal quarter was completed. During the quarter ended September 30, 2020, we have observed recent decreases in demand from certain customers, including primarily our law-enforcement and commercial customers. Given the fact that our products are sold through a variety of distribution channels, we expect our sales will experience more volatility as a result of the changing and less predictable operational needs of many customers as a result of the COVID-19 pandemic. We are aware that many companies, including many of our suppliers and customers, are reporting or predicting negative impacts from COVID-19 on future operating results. Although we observed significant declines in demand for our products from certain customers during the three months ended September 30, 2020, we believe that it remains too early for us to know the exact impact COVID-19 will have on the long-term demand for our products. We also cannot be certain how demand may shift over time as the impacts of the COVID-19 pandemic may go through several phases of varying severity and duration. To date, travel restrictions and border closures have not materially impacted our ability to obtain inventory or manufacture or deliver products or services to customers. However, if such restrictions become more severe, they could negatively impact those activities in a way that would harm our business over the long term. Travel restrictions impacting people can restrain our ability to assist our customers and distributors as well as impact our ability to develop new distribution channels, but at present we do not expect these restrictions on personal travel to be material to our business operations or financial results. We have taken steps to restrain and monitor our operating expenses and therefore we do not expect any such impacts to materially change the relationship between costs and revenues. Like most companies, we have taken a range of actions with respect to how we operate to assure we comply with government restrictions and guidelines as well as best practices to protect the health and well-being of our employees and our ability to continue operating our business effectively. To date, we have been able to operate our business effectively using these measures and to maintain all internal controls as documented and posted. We also have not experienced challenges in maintaining business continuity and do not expect to incur material expenditures to do so. However, the impacts of COVID-19 and efforts to mitigate the same have remained unpredictable and it remains possible that challenges may arise in the future. Management CommentsStanton E. Ross, Chief Executive Officer of Digital Ally, stated, “We are very pleased to report a 23% increase in total revenues for our third quarter and net earnings per share of $0.02. Furthermore, our third quarter 2020 total revenues of $3,588,640 represents our highest quarterly total for revenues since the first quarter of 2017 and our earnings per share represents our highest earnings per share since the first quarter of 2013. Our decision not to stand still during the Covid-19 pandemic and proactively expand our product offerings to include the ThermoVU and Shield lines has proven to be successful as they generated approximately $1.1 million in combined revenues during the third quarter 2020. We are considering further expansion of the ThermoVU and Shield product lines to include complementary products that we hope they will achieve similar market acceptance. We also reduced our SG&A expenses by reducing staffing levels, limiting travel and reducing many advertising and promotional activities. In addition, we moved to a new, smaller office and warehouse space in June 2020 that will dramatically reduce our occupancy costs for the balance of 2020 and beyond” concluded Ross.Investor Conference CallThe Company will host an investor conference call at 11:15 p.m. EDT on Thursday, November 12, 2020, to discuss its operating results for the third quarter 2020, developments related to its disinfectant and safety products, the impact of the Covid-19 pandemic and other topics of interest. Shareholders and other interested parties may participate in the conference call by dialing 844-761-0863 and entering conference ID 5148159 a few minutes before 11:15 p.m. EDT on Thursday November 12, 2020.A replay of the conference call will be available two hours after its completion, from November 12, 2020 until 11:59 p.m. on January 12, 2021 by dialing 855-859-2056 and entering the conference ID 5148159.For additional news and information please visit or follow us on Twitter @digitalallyinc and Facebook www.facebook.com/DigitalAllyIncFollow additional Digital Ally Inc. social media channels here:Facebook | Instagram | LinkedIn | TwitterThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on our customers, suppliers and employees; whether it will be able to resolve its liquidity and operational issues and raise sufficient capital given the impact of the Covid-19 pandemic; whether it will be able to achieve improved production and other efficiencies to restore its gross and operating margins in the future; whether the Company will be able to continue to expand into non-law enforcement markets, including disinfectant/sanitizer and temperature screening products, and increase its service based revenue; whether the Company has resolved its product quality and supply chain issues; whether the EVO-HD will help the Company increase its product revenues; whether the Company will continue to experience declines in legal expenses as a result of concluding its patent litigation; whether and the extent to which the US Patent and Trademark Office (USPTO) rulings will curtail, eliminate or otherwise have an effect on the actions of competitors and others in the marketplace respecting the Company, its products and customers; its ability to deliver its newer product offerings as scheduled, and in particular the new EVO-HD product platform, obtain the required components and products on a timely basis, and have them perform as planned; its ability to maintain or expand its share of the markets in which it competes, including those outside the law enforcement industry; whether it will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. It does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2020 and in its annual report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (the “SEC”).For Additional Information, Please Contact: Stanton E. Ross, CEO, at (913) 814-7774 or Thomas J. Heckman, CFO, at (913) 814-7774 (Financial Highlights Follow)DIGITAL ALLY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2020 AND DECEMBER 31, 2019  September 30, 2020 (Unaudited)  December 31, 2019  Assets         Current assets:         Cash and cash equivalents $8,130,331  $359,685  Accounts receivable-trade, less allowance for doubtful accounts of $123,224 – 2020 and 2019  1,799,935   1,071,018  Accounts receivable-other  884,853   514,730  Inventories, net  5,993,627   5,280,412  Income tax refund receivable, current  —   44,650  Prepaid expenses and other current assets  2,295,945   381,090            Total current assets  19,104,691   7,651,585            Land, building and equipment, net  681,315   197,063  Intangible assets, net  379,351   413,268  Operating lease right of use assets, net  792,121   122,459  Other assets  893,180   532,500            Total assets $21,850,658  $8,916,875            Liabilities and Stockholders’ Equity (Deficit)         Current liabilities:         Accounts payable $1,058,739  $2,339,985  Accrued expenses  616,343   845,881  Operating lease obligations – Current  83,094   159,160  Contract liabilities – Current  1,702,587   1,707,943  Debt obligations – Current  791,521   1,827,748  Income taxes payable  1,158   5,934  Total current liabilities  4,253,442   6,886,651            Long-term liabilities:         Proceeds investment agreement obligation, at fair value – Long-term  —   6,500,000  Operating lease obligation – Long-term  754,031   44,460  Debt obligations – Long-term  777,379   —  Contract liabilities – Long-term  1,663,481   1,803,143            Total liabilities  7,448,333   15,234,254            Commitments and contingencies                   Stockholders’ Equity (Deficit):         Common stock, $0.001 par value per share; 100,000,000 and 50,000,000 shares authorized, respectively; shares issued: 26,836,209 – September 30, 2020 and 12,079,095 – December 31, 2019  26,836   12,079  Additional paid in capital  106,225,896   83,216,387  Treasury stock, at cost (63,518 shares)  (2,157,226)  (2,157,226) Accumulated deficit  (89,693,181)  (87,388,619)           Total stockholders’ equity (deficit)  14,402,325   (6,317,379)           Total liabilities and stockholders’ equity (deficit) $21,850,658  $8,916,875  (FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 FILED WITH THE SEC)DIGITAL ALLY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 AND 2019 (Unaudited)  Three months ended September 30,  Nine months ended September 30,    2020  2019  2020  2019                Revenue:                 Product $2,958,579  $2,173,257  $5,778,695  $6,039,445  Service and other  630,061   749,891   1,967,881   1,981,482                    Total revenue  3,588,640   2,923,148   7,746,576   8,020,927                    Cost of revenue:                 Product  2,177,676   1,601,913   4,332,450   4,333,812  Service and other  188,316   132,973   533,690   366,301                    Total cost of revenue  2,365,992   1,734,886   4,866,140   4,700,113                    Gross profit  1,222,648   1,118,262   2,880,436   3,320,814  Selling, general and administrative expenses:                 Research and development expense  405,083   517,010   1,250,528   1,562,086  Selling, advertising and promotional expense  789,854   877,218   1,958,884   2,871,154  General and administrative expense  1,871,668   2,074,481   5,585,500   7,686,537  Patent litigation settlement  —   —   —   (6,000,000)                   Total selling, general and administrative expenses  3,066,605   3,468,709   8,794,912   6,119,777                    Operating loss  (1,843,957)  (2,280,447)  (5,914,476)  (2,798,963)                   Other income (expense):                 Interest income  11,339   6,667   33,208   30,279  Interest expense  (4,940)  (37,037)  (338,136)  (37,037) Secured convertible notes issuance expense  —   (89,148)  (34,906)  (89,148) Change in fair value of proceeds investment agreement  2,365,000   (177,000)  5,250,000   (3,275,000) Change in fair value of secured convertible notes  —   (408,860)  (1,300,252)  (408,860) Total other income (expense)  2,371,399   (705,378)  3,609,914   (3,779,766)                   Income (loss) before income tax benefit  527,442   (2,985,825)  (2,304,562)  (6,578,729) Income tax benefit (expense)  —   —   —   —                    Net income (loss) $527,442  $(2,985,825) $(2,304,562) $(6,578,729)                   Net income (loss) per share information:                 Basic $0.02  $(0.26) $(0.12) $(0.58) Diluted $0.02  $(0.26) $(0.12) $(0.58)                   Weighted average shares outstanding:                 Basic  26,613,109   11,637,289   19,861,694   11,296,999  Diluted  26,627,941   11,637,289   19,861,694   11,296,999  (FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 FILED WITH THE SEC)

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  • Digital Ally to Discuss Third Quarter 2020 Operating Results on Thursday, November 12 Conference Call

    Third Quarter 2020 Operating Results to be discussed Thursday, November 12, 2020 at 11:15 a.m. Eastern TimeLenexa, KS, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced that it will host an investor conference call on Thursday, November 12, 2020 at 11:15 a.m. EDT to discuss its operating results for the third quarter ended September 30, 2020, developments related to safety products including its ShieldTM Cleansers line, ThermoVuTM non-contact temperature screening devices, Personal Protective Equipment, and other topics of interest. The Company will release its operating results for the third quarter of 2020 prior to the conference call.Investor Conference CallShareholders and other interested parties may participate in the conference call by dialing (844) 761-0863 and entering conference ID 5148159 a few minutes before 11:15 a.m. EDT on Thursday, November 12, 2020.A replay of the conference call will be available two hours after its completion, from November 12, 2020 until 11:59 p.m. EDT on January 12, 2021 by dialing 855-859-2056 and entering the conference ID 5148159. About Digital AllyDigital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally recently launched two new product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here:Facebook I Instagram I LinkedIn I Twitter Contact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc 913-814-7774 info@digitalallyinc.com

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  • Digital Ally Releases Most Advanced Cloud Software Update in its History

    The ProVu shared portal enables Prosecutors to now request and receive video evidence and case files via the secured EVO-HD cloud software platform Lenexa, KS, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced its newest cloud software update, EVO Cloud 1.8. Now available on the EVO Web Portal for all EVO-HD customers, EVO Cloud 1.8 is the Company’s most advanced software feature set to date for its innovative EVO-HD in-car video system. The most notable feature included is the highly anticipated ProVu shared portal.The ProVu shared portal will allow District Attorneys and Prosecutors who oversee multiple police departments to securely request video evidence from remote locations. This feature eliminates a traditionally manual process performed by the requesting party and police department where unnecessary time and money are spent finding, reviewing, downloading, and shipping video evidence. All video requests and acknowledgement receipts will now be logged into the chain of custody report associated with the requested video.“We are extremely excited to release EVO Cloud 1.8,” said Stan Ross, CEO of Digital Ally, adding “With this update, EVO continues to prove its ability to evolve and add features without having to purchase new hardware or software.”The ProVu shared portal will be hosted on Digital Ally’s secured EVO Web Portal which is powered by Amazon Web Services. Amazon Web Services is trusted by government sectors and private businesses like the DOJ, U.S. Department of Homeland Security, and Lockheed Martin.“We look forward to continuing to add new and innovative features that help law enforcement and prosecutors improve the safety and security of all concerned,” concluded Ross.About Digital Ally Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally recently launched two new product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.For additional news and information please visit www.digitalallyinc.com or follow additionalDigital Ally Inc. social media channels here:Facebook I Instagram I LinkedIn I TwitterContact Information Stanton Ross, CEO Tom Heckman, CFO Digital Ally, Inc 913-814-7774 info@digitalallyinc.comThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on its customers, suppliers and employees; whether the Company will effectively manage the disruptions to its supply chain and business activities caused by the Covid-19 pandemic; whether the EVO Cloud upgrade release will result in increased revenues and will increase overall sales of the Company’s video evidence capturing systems and other safety products distributed by the Company; whether EVO Cloud 1.8 upgrade including the ProVu shared portal will function as expected and intended; whether the Company will be able to effectively market and distribute the company’s video capturing product lines to its customers; whether the Company can manufacture and distribute its video capturing products in the quantities and on a timely basis to fulfill its customers’ orders; whether the Company will be able to distribute its video capturing products in a cost-effective, profitable manner; whether the Company’s video capturing products will perform as anticipated; whether the Company’s video capturing products will meet applicable government regulations as promulgated; whether the Company will be able to adapt its technology and products to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters and whether the Company will be successful in its patent infringement litigation with Axon Enterprises, Inc. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2019, and its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2020 as filed with the Securities and Exchange Commission.

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