KANSAS CITY, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (Nasdaq: DGLY) – Kustom Entertainment, Inc. ("Kustom Entertainment"), a premier live event marketing and concert production company and current subsidiary of Digital Ally Inc. ("Digital Ally"), today announced that Clover Leaf Capital Corp.'s ("Clover Leaf") registration statement on Form S-4 has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") as of Tuesday, July 30, 2024, relating to the previously announce ...

KANSAS CITY, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (Nasdaq: DGLY) – Kustom Entertainment, Inc. ("Kustom Entertainment"), a premier live event marketing and concert production company and current subsidiary of Digital Ally Inc. ("Digital Ally"), today announced that Clover Leaf Capital Corp.'s ("Clover Leaf") registration statement on Form S-4 has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") as of Tuesday, July 30, 2024, relating to the previously announce ...

Core Viewpoint - Digital Ally, Inc. has successfully closed a private placement with institutional investors, raising approximately $2.9 million to support various operational needs [1][3]. Group 1: Private Placement Details - The private placement involved the issuance of 1,195,219 units at an effective price of $2.51 per unit, each consisting of one share of common stock or one pre-funded warrant, along with Series A and Series B warrants [2]. - Series A warrants are exercisable for one share of common stock at an initial price of $2.51 per share, with a term of 5 years, while Series B warrants have an exercise price of $0.001 and are exercisable until fully exercised [2]. - The closing of the private placement occurred on June 25, 2024, with Aegis Capital Corp. acting as the Exclusive Placement Agent [3][4]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for inventory purchases, artist costs for upcoming festivals, transaction costs, expanded sales, marketing, and general working capital [1]. Group 3: Company Overview - Digital Ally, Inc. specializes in developing and manufacturing video and analytics solutions for law enforcement, emergency management, and commercial applications, focusing on enhancing safety and streamlining operations [5].

Lenexa, Kansas, June 25, 2024 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the "Company"), a leading provider of video solutions 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 the closing of a private placement with certain institutional investors. The aggregate gross cash proceeds were approximately $2.9 million, before deducting fees to the p ...

Lenexa, Kansas, June 24, 2024 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ:DGLY) (the "Company"), a leading provider of video solutions 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 the pricing of a private placement with certain institutional investors. The aggregate gross cash proceeds are expected to be approximately $2.9 million, before deducting ...

DIGITALALLY, INC ANNOUNCES FIST QUARTER 2024 OPERATING RESULTS LENEXA, Kansas (May 20, 2024) – Digital Ally, Inc. (Nasdaq: DGLY) (the "Company" or "our"), today announced its operating results for the first quarter of 2024. An investor conference call is scheduled for 11:15 a.m. EDT on Tuesday, May 21, 2024 (see details below). Exhibit 99.1 Highlights for the first quarter ended March 31, 2024 ● Overall gross profits for the three months ended March 31, 2024 were $1,523,699, a slight decrease of $21,093, or ...

Revenue Performance - Total net revenues for Q1 2024 were $5,529,351, a decrease of 28.2% compared to $7,697,190 in Q1 2023[186] - Video Solutions segment revenue decreased to $1,718,293 in Q1 2024 from $1,899,364 in Q1 2023, reflecting a decline of 9.5%[186] - Revenue Cycle Management segment revenue fell to $1,434,598 in Q1 2024 from $1,781,590 in Q1 2023, a decrease of 19.5%[186] - Entertainment segment revenue decreased significantly to $2,376,460 in Q1 2024 from $4,016,236 in Q1 2023, a decline of 40.9%[186] - Total revenues for the three months ended March 31, 2024, were $5,529,351, a decrease of $2,167,839 (28%) compared to $7,697,190 in 2023[197] - Product revenues decreased by $887,964 (36%) to $1,565,846 for the three months ended March 31, 2024, from $2,453,810 in 2023[195] - Service and other revenues decreased by $1,279,875 (24%) to $3,963,505 for the three months ended March 31, 2024, from $5,243,380 in 2023[196] Profitability and Loss - Total operating loss for Q1 2024 was $3,639,034, an improvement from a loss of $6,172,806 in Q1 2023[186] - The company reported a net loss of $3,943,268 for Q1 2024, compared to a net loss of $5,979,579 in Q1 2023[189] - Operating loss decreased by $2,533,772 (41%) to $3,639,034 in Q1 2024 from $6,172,806 in Q1 2023, with operating loss as a percentage of revenues improving to 66%[208] - Net loss attributable to common stockholders was $3,931,020 in Q1 2024, a decrease of $2,174,798 (36%) from $6,105,818 in Q1 2023[220] Efficiency and Cost Management - Gross profit margin for Q1 2024 was 27.6%, compared to 20.1% in Q1 2023, indicating improved efficiency[189] - Gross profit margin improved to 28% in Q1 2024 from 20% in Q1 2023, driven by a reduction in cost of revenue from 80% to 72%[197] - Operating loss decreased to (66)% of total revenues in Q1 2024, compared to (80)% in Q1 2023[197] - Cost of service revenue decreased by $1,413,039 (37%) to $2,438,259 in Q1 2024, with service revenues as a percentage of service revenues improving from 73% to 62%[201] - Selling, general and administrative expenses decreased by $2,554,865 (33%) to $5,162,732 in Q1 2024 from $7,717,598 in Q1 2023[205] - Research and development expenses totaled $487,466 in Q1 2024, down $447,473 (48%) from $934,939 in Q1 2023, focusing on new body-worn camera products[205] Assets and Liabilities - Identifiable assets decreased to $45,164,195 as of March 31, 2024, down from $47,028,809 as of December 31, 2023[186] - Debt obligations increased to $7,278,860 as of March 31, 2024, compared to $6,113,750 as of December 31, 2023, reflecting a significant rise in financial leverage[226] - Total undiscounted minimum future lease payments amount to $1,159,779, with total operating lease liability at $975,678 as of March 31, 2024[226] - Debt obligations maturing in 2024 are $2,402,188, with long-term debt obligations totaling $4,875,831 as of March 31, 2024[226] Inventory and Reserves - Reserves for obsolete and excess inventories were $4,486,389 as of March 31, 2024, slightly down from $4,542,461 at the end of 2023[200] - The reserve for excess and obsolete inventory represented 59% of the gross inventory balance at March 31, 2024, up from 54% at December 31, 2023[242] - Total inventories decreased to $3,148,689 as of March 31, 2024, from $3,845,281 at December 31, 2023, indicating a reduction in stock levels[242] - Finished goods balances decreased by 12% to $4,670,553 as of March 31, 2024, from $5,322,693 at December 31, 2023[242] Cash Flow and Capital Needs - Cash, cash equivalents, and restricted cash increased to $1,025,461 as of March 31, 2024, up from $778,149 at December 31, 2023[224] - Net cash used in operating activities decreased to $918,545 in Q1 2024 from $1,216,876 in Q1 2023, a decrease of $298,331[225] - The company anticipates needing to restore positive operating cash flows and/or raise additional capital in the short term to fund operations[222] Other Financial Metrics - Interest expenses rose to $648,567 in Q1 2024 from $5,664 in Q1 2023, primarily due to interest charges and amortization of debt[210] - Gain on extinguishment of liabilities increased to $682,345 in Q1 2024 from $0 in Q1 2023, reflecting improved negotiation of payables[213] - The company's warranty reserves increased to $20,529,000 as of March 31, 2024, compared to $17,699,000 as of December 31, 2023, due to newer products gaining a longer history of claims[251] Strategic Developments - The company has diversified its product offerings with the introduction of ThermoVu™ and Shield™ lines in 2020[179] - The revenue cycle management segment has completed four acquisitions since its formation in 2021, enhancing its service capabilities[181] - Historical bad debts for the video solutions segment were negligible, with less than $258,000 charged off as uncollectible on cumulative revenues of $248.0 million since 2006[238] - The company has fully reserved all of its deferred tax assets, increasing the valuation allowance by $7,410,000 to a total of $41,610,000 as of December 31, 2023[256] - The company has no recorded liability as of March 31, 2024, representing uncertain tax positions[257] - Inflation has not materially affected the company during the past fiscal year, and the Entertainment Segment is expected to generate higher revenues in the second half of the calendar year[260]

OVERLAND PARK, Kan., May 09, 2024 (GLOBE NEWSWIRE) -- TicketSmarter is excited to announce its new Free Tickets for Life Sweepstakes which selects one lucky winner per month to receive free tickets to live events each year for life. Winners will receive a $2,000 voucher to select tickets to any live event in the TicketSmarter inventory which includes festivals like Coachella and Bonnaroo, Adele's Las Vegas residency, and even the Super Bowl or World Series. They will also receive a one-time award of a $750 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________. Commission file number: 001-33899 DIGITALALLY, INC. (Exact name of registrant as specified in its charter) | Nevada | 20-0064269 | | --- | --- | | ...

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