DIGITAL ALLY SETS DATE TO ANNOUNCE FIRST QUARTER 2023 OPERATING RESULTS
May 12 2023 - 4:05PM
Digital Ally, Inc. (NASDAQ: DGLY)
(the
“Company”),
today announced that it will host an investor conference call on
Tuesday, May 16, 2023 at approximately 11:15 a.m. Eastern time. The
Company is excited to discuss its First Quarter 2023 financial
results, corporate and individual subsidiary outlook, and
previously announced corporate separation.
Shareholders and other interested parties may
participate in the conference call by dialing 888-886-7786 and
entering conference ID #53623024 a few minutes before 11:15 a.m.
Eastern on Tuesday, May 16, 2023.
The Company’s anticipated separation by way of a
spin-off or alternative transaction will result in two focused and
streamlined businesses that are both leaders in their respective
industries and well-positioned for continued success:
- Digital Ally, Inc.
will continue to be a leading and innovative provider of video
solution technology for law enforcement agencies, commercial
fleets, and situational event security solutions. Digital Ally will
also continue to provide back-office services to a variety of
healthcare organizations throughout the country through its revenue
cycle management subsidiary.
- Kustom
Entertainment, Inc. will be a premier
multi-disciplinary entertainment company, anchored by a premier
ticketing technology business poised to achieve substantial scaling
opportunities, through its TicketSmarter, Inc. subsidiary, which
offers unique primary and secondary ticketing products to the
market. Additionally, Kustom Entertainment’s offerings will include
a distinctive event marketing and production company, with numerous
customization options for events, festivals, and concerts, through
its Kustom 440, Inc., subsidiary.
The call will be led by Stanton E. Ross and Brody J. Green.
About Digital Ally
Digital Ally, Inc. (NASDAQ: DGLY) through its
subsidiaries, is engaged in video solution technology, human &
animal health protection products, healthcare revenue cycle
management, ticket brokering and marketing, event production and
jet chartering. Digital Ally continues to add organizations that
demonstrate the common traits of positive earnings, growth
potential, innovation, and organizational synergies.
For additional news and information please visit
www.digitalally.com or follow Digital Ally Inc. social media
channels here:
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Forward-Looking Statement
This press release contains forward-looking
statements within the meaning of the federal securities laws.
Forward-looking statements include all statements that are not
historical statements of fact and those regarding our intent,
belief, or expectations, including, but not limited to: statements
regarding Digital Ally’s and the ultimate separated company’s
(“SpinCo”) portfolio composition and their relationship following
the business separation; the anticipated timing, structure,
benefits, and tax treatment of the separation; benefits and
synergies of the separation; strategic and competitive advantages
of each of Digital Ally and SpinCo; future financing plans and
opportunities; and business strategies, prospects and projected
operating and financial results. In addition, there is also no
assurance that the separation will be completed, that Digital
Ally’s Board of Directors will continue to pursue the separation
(even if there are no impediments to completion), that Digital Ally
will be able to separate its businesses or that the separation will
be the most beneficial alternative considered or will achieve the
planned tax-free treatment. We caution investors not to place undue
reliance on any such forward-looking statements.
Words such as “anticipate(s),” “expect(s),”
“intend(s),” “plan(s),” “believe(s),” “plan(s),” “may,” “will,”
“would,” “could,” “should,” “seek(s),” and similar expressions, or
the negative of these terms, are intended to identify such
forward-looking statements. These statements are based on
management’s current expectations and beliefs and are subject to a
number of risks and uncertainties that could lead to actual results
differing materially from those projected, forecasted or expected.
Although we believe that the assumptions underlying the
forward-looking statements are reasonable, we can give no assurance
that our expectations will be attained.
Risks and uncertainties that could cause actual
results to differ materially from our expectations include, but are
not limited to: changes in global economic conditions (including
inflationary pressures) and geopolitical risks, including
macroeconomic fluctuations that may harm our business, results of
operation and stock price; our ability to source components and raw
materials from suppliers, including disruptions and delays in our
supply chain or the supply chain of our vendors; demand for our
products, which is variable and subject to factors beyond our
control; governmental regulations and failure to comply with those
regulations; fluctuations in the prices of our components and raw
materials; loss of personnel or being able to hire and retain
additional personnel needed to sustain and grow our business as
planned; risks from environmental liabilities, costs, litigation
and violations that could adversely affect our financial condition,
results of operations, cash flows and reputation; risks associated
with conducting a substantial portion of our business outside the
U.S.; adverse impacts from intangible asset impairment charges;
potential product liability or warranty claims; being unable to
successfully develop and introduce new products, which would limit
our ability to grow and maintain our competitive position and
adversely affect our financial condition, results of operations and
cash flow; significant competition in our markets; additional tax
expenses or exposures that could affect our financial condition,
results of operations and cash flows; the ability and willingness
of Digital Ally and SpinCo to meet and/or perform their obligations
under any contractual arrangements that are entered into among the
parties in connection with the spin-off and any of their
obligations to indemnify, defend and hold the other party harmless
from and against various claims, litigation and liabilities; and
the ability to achieve some or all the benefits that we expect to
achieve from the spin-off.
Contact InformationBrody Green,
PresidentStanton Ross, CEOTom Heckman, CFODigital Ally,
Inc.913-814-7774info@digitalallyinc.com
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