As filed with the Securities and Exchange Commission on July 14, 2021

Registration No. 333-            

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

———————

Form S-8

———————

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

DUOS TECHNOLOGIES GROUP, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Florida

 

65-0493217

(State or Other Jurisdiction of

 

(I.R.S. Employer

Incorporation or Organization)

 

Identification No.)


6622 Southpoint Drive S., Suite 310, Jacksonville, FL 32216

(Address of Principal Executive Offices, Including Zip Code)

 

2016 Equity Incentive Plan

 (Full Title of the Plan)

 

Adrian G. Goldfarb
Chief Financial Officer

Duos Technologies Group, Inc.

6622 Southpoint Drive S., Suite 310, Jacksonville, FL 32216

(Name and Address of Agent for Service)

 

(904) 656-1616

(Telephone Number, Including Area Code, of Agent for Service)

 

Copies to:


J. Thomas Cookson, Esq.

Shutts &Bowen LLP

200 South Biscayne Boulevard, Suite 4100

Miami, FL  33131

(305) 358-6300


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Securities Exchange Act of 1934:

 

Large accelerated filer ¨

Accelerated filer ¨

Non-accelerated filer þ

Smaller reporting company þ

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ¨

 

 




 


CALCULATION OF REGISTRATION FEE

 

Title of Securities to Be Registered

 

Amount to Be

Registered(1)

 

 

Proposed Maximum

Offering Price

per Share(2)

 

 

Proposed Maximum

Aggregate Offering

Price

 

 

Amount of

Registration Fee

 

Common Stock issuable under the 2016 Equity Incentive Plan (par value $0.001 per share)

 

 

305,102 shares (3)

 

 

$

9.30

 

 

$

2,837,449

 

 

$

310

 


———————

 

(1)

Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement also registers any additional shares of the Registrant’s common stock, par value $0.001 per share (the “Common Stock”), as may become issuable under the Registrant’s 2016 Equity Incentive Plan (the “2016 Plan”) as a result of any stock split, stock dividend, recapitalization or similar event.

 

(2)

Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h)(1) and Rule 457(c) under the Securities Act. The price per share and aggregate offering price are based upon the average of the high and low prices of the Registrant’s Common Stock on July 13, 2021, as reported on The Nasdaq Capital Market.

 

(2)

Represents shares of Common Stock added to the shares authorized for issuance under the 2016 Plan pursuant to amendments to such plan approved by the Registrant’s shareholders at the Registrant’s 2017 and 2019 Annual Meetings of Shareholders.

  

  

  

 




 



EXPLANATORY NOTE


This registration statement (the “Registration Statement”) on Form S-8 is being filed by Duos Technologies Group, Inc. (the “Company”) for the purpose of registering 305,101 additional shares of its common stock, $0.001 par value per share, issuable under the Duos Technologies Group, Inc. 2016 Equity Incentive Plan (the “Plan”). The Company previously filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-8 (File No. 333-211677) with respect to the Plan (the “Prior Registration Statement”). This Registration Statement relates to the securities of the same class as that to which the Prior Registration Statement relates and is submitted in accordance with General Instruction E to Form S-8 regarding registration of additional securities. In accordance with such instruction, except as otherwise set forth below, the contents of the Prior Registration Statement relating to the Plan are incorporated herein by reference.


  


  





 



PART II

 

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

ITEM 3.    INCORPORATION OF DOCUMENTS BY REFERENCE.

 

The following documents, which have been filed with the SEC pursuant to the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act), are hereby incorporated by reference in, and shall be deemed to be a part of, this Registration Statement (excluding any portions of such documents that have been furnished but not filed for purposes of the Exchange Act):


·

The Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed March 30, 2021.


·

The Companys Quarterly Report on Form 10-Q for the quarter ended March 30, 2021, filed May 14, 2021.


·

The Companys Current Reports on Form 8-K filed March 1, 2021, March 25, 2021 and May 18, 2021.


·

The description of the Companys common stock contained in the Companys Registration Statement on Form 8-A filed with the SEC on February 12, 2020, including any amendments or reports filed for the purpose of updating such description.


All documents, reports or definitive proxy or information statements subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all such securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents (excluding any portions of such documents that have been “furnished” but not “filed” for purposes of the Exchange Act).


Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein (or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein) modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

  

ITEM 8.    EXHIBITS.

 

4.1

Amendment to Amended and Restated Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on July 13, 2015).  

4.2

Amended and Restated Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on April 7, 2015).

4.3

Amended and Restated By-Laws, as amended (incorporated herein by reference to Exhibit 3.3 to the Company's Registration Statement on Form S-1/A (No. 333-256110) filed on May 28, 2021).

4.4

Articles of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on April 28, 2017).




 


4.5

Articles of Amendment to Articles of Incorporation Designation of Series B Convertible Preferred Stock (incorporated herein by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on November 29, 2017).

4.6

Certificate of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on January 15, 2020).

4.7

Articles of Amendment to Articles of Incorporation Designation of Series C Convertible Preferred Stock (incorporated herein by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on March 1, 2021).

5.1

Opinion of Shutts & Bowen LLP,  counsel to the Company.

23.1

Consent of Shutts & Bowen LLP (included in Exhibit 5.1).

23.2

Consent of Salberg & Company, P.A.

24.1

Power of Attorney (included on the signature page of this Registration Statement).

99.1*

Duos Technologies Group, Inc. 2016 Equity Incentive Plan (incorporated by reference from Annex B to the Company’s Proxy Statement on Schedule 14A filed with the SEC on June 21, 2019).


* Indicates management contract or compensatory plan or arrangement.


ITEM 9.    UNDERTAKINGS.

  

(a)

The undersigned registrant hereby undertakes:


(1)

To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:


(i)

To include any prospectus required by Section 10(a)(3) of the Securities Act;


(ii)

To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and


(iii)

To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement; provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this Item do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.


(2)

That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.


(3)

To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.


(b)

The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act, that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.




 


(c)

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

  

  


  


 




 



SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Jacksonville, State of Florida, on July 14, 2021.

 

 

DUOS TECHNOLOGIES GROUP, INC.

 

 

  

  

 

 

  

  

 

 

By:

/s/ Charles P. Ferry

 

 

  

Charles P. Ferry

 

 

  

Chief Executive Officer

 

 

POWER OF ATTORNEY


KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints CHARLES P. FERRY his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.


Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.

 

Signature

  

Title

  

Date

  

  

  

  

  

/s/ Charles P. Ferry

  

Chief Executive Officer, Director
(Principal Executive Officer)

  

July 14, 2021

CHARLES P. FERRY

  

  

 

 

  

 

  

 

/s/ Adrian Goldfarb

  

Chief Financial Officer
(Principal Financial Officer)

  

July 14, 2021

ADRIAN GOLDFARB

  

  

 

 

 

 

 

 

/s/ Connie L. Weeks

 

Chief Accounting Officer
(Principal Accounting Officer)

 

July 14, 2021

CONNIE L. WEEKS

  

  

 

 

  

 

  

 

/s/ Ned Mavrommatis

 

Director

 

July 14, 2021

NED MAVROMMATIS

  

 

  

 

 

  

 

  

 

/s/ Blair M. Fonda

 

Director

 

July 14, 2021

BLAIR M. FONDA

  

 

  

 

 

  

 

  

 

/s/ Kenneth Ehrman

 

Director

 

July 14, 2021

KENNETH EHRMAN

  

 

  

 

 

  

 

  

 

/s/ Edmond L. Harris

 

Director

 

July 14, 2021

EDMOND L. HARRIS

  

  

  

  

  



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