Digital Ally, Inc. Granted Extension by NASDAQ
March 09 2020 - 7:30AM
Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops,
manufactures and markets advanced video recording products for law
enforcement, emergency management, fleet safety and security, today
announced it has received notice from the NASDAQ hearing panel (the
“Panel”) that the Company has been granted an extension until June
30, 2020 to regain compliance with the minimum stockholder equity
required for continued listing on NASDAQ, as set forth in NASDAQ
Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement").
In a hearing with the Panel on February 20, 2020 the Company
presented a strategic plan to regain and sustain compliance with
the Stockholders’ Equity Requirement.
Stanton Ross, Chief Executive Officer, stated
“We are extremely pleased to have been granted this extension with
NASDAQ and believe that we will meet and exceed the requirement set
forth. We are working very hard for our shareholders as we continue
to expand our market share in the law enforcement community as well
as the commercial fleet industry. With the recent acquisitions of
new business domestically and internationally and the retention of
current customers, we are very excited for the future,” concluded
Mr. Ross.
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, and automatic recording technology. These
products work seamlessly together and are simple to install and
operate. 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:
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Contact InformationStanton Ross, CEOTom Heckman,
CFODigital Ally, Inc913-814-7774info@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: the Company’s ability to regain
compliance with the minimum stockholder equity required for
continued listing on NASDAQ, as set forth in NASDAQ Listing Rule
5550(b)(1) prior to June 30, 2020 and to continue to maintain
compliance beyond June 30, 2020; the Company’s ability to expand
its market share in the law enforcement community as well as the
commercial fleet industry , the Company’s the decision of the
United States Court of Appeals regarding the Company’s appeal of
the District Court’s decision in the Axon litigation; whether the
Company will ultimately prevail in its patent litigation against
Axon; 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, 2018 and quarterly report on Form 10-Q for the three
and nine months ended September 30, 2019, as filed with the
Securities and Exchange Commission.
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