Digital Ally, Inc. (Nasdaq: DGLY) (the “Company” or “our”), today
announced its operating results for the second quarter 2023. An
investor conference call is scheduled for 11:15 a.m. EDT on
Tuesday, August 15, 2023 (see details below).
All share and price per share information in
this press release has been adjusted to reflect the Company’s
1-for-20 reverse stock split, which was effective on February 6,
2023.
Highlights for the second quarter ended
June 30, 2023
● |
Total revenues for the three months ended June 30, 2023 were
$8,279,632, a decrease of $1,071,826, or (11%), as compared to
$9,351,458 for the three months ended June 30, 2022. Overall
product revenues were $3,077,661 for the three months ended June
30, 2023, a increase of $867,480, or (39%), as compared to
$2,210,181 for the three months ended June 30, 2022. The increase
in product revenues for the period is attributable to the
Entertainment Segment’s completion of its first music festival,
Country Roots Festival in May. Service and other revenues also
experienced a decline during the three months ended June 30, 2023,
in comparison to the same period in 2022, due to a reduction in
marketing expenses within the Entertainment segment, that resulted
in a correlating decline in service revenues for the period. The
primary reason for the overall revenue decrease is a decrease of
$1,648,813, or (38%), in service revenues from 2022 levels at the
Entertainment Segment, due to the reduction in ticket purchases
within the Entertainment segment throughout the period. |
|
|
● |
On September 1, 2021, the Company formed a wholly-owned subsidiary,
TicketSmarter, Inc., through which the Company completed the
acquisition of Goody Tickets, LLC (“Goody Tickets”) and
TicketSmarter, LLC (“TicketSmarter”) (collectively the
“TicketSmarter Acquisition”). Goody Tickets and TicketSmarter®, are
ticket resale marketplaces with seats offered at over 125,000 live
events, offering over 48 million tickets for sale through its
TicketSmarter.com platform. Within this Entertainment Segment, the
Company also formed Kustom 440, Inc. in late 2022 to create unique
entertainment experiences through concerts, festivals, and private
experiences. This segment generated additional revenues totaling
$4,655,270 in service and product revenues for the three months
ended June 30, 2023, a decrease of $525,693, or (10%), as compared
to $5,180,963 in service and product revenues for the three months
ended June 30, 2022. The decrease is largely due to management’s
focus on right-sizing the Entertainment Segment, and work towards
profitability; thus, decreasing marketing expenses, directly
correlating to a decrease in revenues. |
|
|
● |
We entered the revenue cycle management business late in the second
quarter of 2021 with the formation of our wholly owned subsidiary,
Digital Ally Healthcare, Inc. and its majority-owned subsidiary
Nobility Healthcare, LLC (“Nobility Healthcare”). Nobility
Healthcare completed its first acquisition on June 30, 2021, when
it acquired a private medical billing company, and a second
acquisition on August 31, 2021 upon the completion of its
acquisition of another private medical billing company. On January
1, 2022, Nobility Healthcare completed the acquisition of 100% of
the capital stock of a private dental billing company.
Additionally, on February 1, 2022, Nobility Healthcare also
completed an asset purchase for a portfolio of a medical billing
company. These acquisitions further enhanced the Company’s revenue
cycle management operating segment, which provides revenue cycle
management solutions to medium to large healthcare organizations
throughout the country. These acquisitions, along with the Revenue
Cycle Management operating segment’s acquisitions that were
previously completed in 2021, generated service revenues for the
three months ended June 30, 2023 of $1,724,772, a decrease of
$395,966, or (19%), as compared to $2,120,738 for the three months
ended June 30, 2022. |
|
|
● |
Our healthcare venture is following a roll-up strategy in the
medical billing industry. The venture’s acquisition targets include
the approximate 6,000 medical billing companies in the United
States, most of which are relatively small and closely-held private
companies. Each year a portion of these company owners sell because
they want to retire or exit the business for other pursuits. The
Company saw the opportunity to form the venture and provide the
capital to make acquisitions and pursue the medical billing company
roll-up strategy at a faster pace. We expect our healthcare venture
to continue its track record of providing superior medical billing
services and practice management services, as well as executing a
profitable roll-up strategy. |
|
|
● |
Overall gross profits for the three months ended June 30, 2023 were
$2,737,040, an increase of $1,017,962, or 59%, as compared to
$1,719,078 for the three months ended June 30, 2022. The overall
increase is attributable to the consistent focus on the cost of
goods sold, particularly surrounding the Entertainment segment, as
well as the enhanced margins within the Video Solutions segment,
with its newer product offerings. Our goal is to improve our
margins over the longer term based on the expected margins
generated by our new recent revenue cycle management and
entertainment operating segments together with our video solutions
operating segment and its expected margins from our EVO-Fleet,
EVO-HD, DVM-800, VuLink, FirstVu Pro, FirstVu II, Shield
disinfectants and our cloud evidence storage and management
offerings, as they gain traction in the marketplace. In addition,
if revenues from the video solutions segment increase, we will seek
to further improve our margins from this segment through expansion
and increased efficiency utilizing fixed manufacturing overhead
components. We plan to continue our initiative to more efficient
management of our supply chain through outsourcing production,
quantity purchases and more effective purchasing practices. |
|
|
● |
Selling, general and administrative expenses for the three months
ended June 30, 2023 were $7,677,745, a decrease of $702,585, or
(8%), as compared to $8,380,330 for the three months ended June 30,
2022. The decrease was primarily attributable to the reduction in
new sponsorships being entered into by the Company. |
Recent Developments
● |
On April 5, 2023, the Company entered into and consummated the
initial closing (the “First Closing”) of the transactions
contemplated by a Securities Purchase Agreement, dated as of April
5, 2023 (the “Purchase Agreement”), between the Company and certain
investors (the “Purchasers”). At the First Closing, the Company
issued and sold to the Purchasers Senior Secured Convertible Notes
in the aggregate original principal amount of $3,000,000 (the
“Notes”) and warrants (the “Warrants”). The Purchase Agreement
provided for a ten percent (10%) original interest discount
resulting in gross proceeds to the Company of $2,700,000. No
interest accrues under the Notes. The Warrants are exercisable for
an aggregate 1,125,000 shares comprised of 375,000 warrants at an
exercise price of $5.50 per share of the Company’s common stock
(the “Common Stock”), 375,000 warrants at an exercise price of
$6.50 per share of Common Stock, and 375,000 warrants at an
exercise price of $7.50 per share of Common Stock. |
|
|
● |
On June 1, 2023, the Company, entered into an Agreement and Plan of
Merger (the “Merger Agreement”) with Clover Leaf Capital Corp., a
Delaware corporation (“Clover Leaf”), CL Merger Sub, Inc., a Nevada
corporation and a wholly owned subsidiary of Clover Leaf (“Merger
Sub”), Yntegra Capital Investments LLC, a Delaware limited
liability company, in the capacity as the representative from and
after the Effective Time (as defined in the Merger Agreement) for
the stockholders of Clover Leaf in accordance with the terms and
conditions of the Merger Agreement, and Kustom Entertainment, Inc.,
a Nevada corporation, a wholly owned subsidiary of the Company,
with a focus and mission to own and produce events, festivals, and
entertainment alongside its evolving primary and secondary
ticketing technologies (“Kustom”). |
|
The aggregate merger consideration to be paid pursuant to the
Merger Agreement to the Company as of immediately prior to the
Effective Time will be an amount equal to (the “Merger
Consideration”) (i) $125 million, minus (ii) the estimated
consolidated indebtedness of Kustom as of the Closing (“Closing
Indebtedness”). The Merger Consideration to be paid to the Company
will be paid solely by the delivery of new shares of Clover Leaf
Class A Common Stock, each valued at $11.14 per share (the “Merger
Consideration Shares”). The Closing Indebtedness (and the resulting
Merger Consideration) is based solely on estimates determined
shortly prior to the Closing and is not subject to any post-Closing
true-up or adjustment. |
|
|
|
The combined company will be known as Kustom Entertainment and will
operate under the same management team as Kustom which is currently
led by Stanton E. Ross, the current CEO of the Company. The
transaction contemplates an equity value of $125 million for
Kustom. The combined company is expected to have an implied initial
pro forma equity value of approximately $222.2 million, with the
proposed Business Combination expected to provide approximately
$18.1 million in gross proceeds from the cash held in trust by
Clover Leaf, assuming no redemptions. Additionally, the Company
will distribute to its shareholders 15% of the Merger Consideration
Shares obtained in Kustom immediately following the closing of the
Merger and intends to distribute the balance of such Merger
Consideration Shares following a six-month lock-up period. |
|
|
|
The transaction has been approved by the board of directors of the
Company and the board of directors of Clover Leaf and is subject to
approval by the stockholders of Clover Leaf and other customary
closing conditions. The Company, as the sole holder of Kustom
common stock, has approved the transaction. |
Management Comments
Stanton E. Ross, Chief Executive Officer of
Digital Ally, stated, “We are very pleased to report nearly $8.3
million in quarterly revenues for the second quarter of 2023, along
with improved gross profits compared to the second quarter of 2022.
We are pleased to see the continued success and traction in the
marketplace with our new video products, particularly the EVO-HD,
FirstVu Pro, and QuickVu docking stations, which are continuing to
build upon our existing subscription plans and deferred revenue. It
is exciting to see our deferred revenue balance up nearly $3.5
million at the end of the second quarter of 2023 compared to the
end of the second quarter of 2022, as our contract liabilities went
from approximately $6.0 million at June 30, 2022, to nearly $9.5
million at June 30, 2023. We continue to build excitement around
the momentum being gained in our Digital Ally Healthcare venture,
as Nobility Healthcare, LLC continues to right-size and maximize
the profitability of the four completed acquisitions. The numerous
medical billing company acquisitions that we have already completed
demonstrate our roll-up strategy is effective and attractive to
potential targets. We look forward to seeing the growth potential
of this venture come to fruition and continue throughout 2023 and
beyond.”
Ross added: “Additionally, we are very excited
about the Agreement and Plan of Merger signed with Clover Leaf
Capital Corp. to create Kustom Entertainment, Inc., a company with
a focus and mission to own and produce events, festivals, and
entertainment alongside its evolving primary and secondary
ticketing technologies. This business combination will provide
clarity to both shareholder as well as the marketplace, showing two
distinct, stand-alone entities, Digital Ally and Kustom
Entertainment, Further, we remain excited about the organic growth
opportunities with the Kustom 440 subsidiary. Kustom 440 hosted its
first festival during the second quarter, in Kansas City at Legends
Field, headlining Chris Young and Gabby Barrett. We were very
pleased with the results of the show and the turn-out for this
event, and look forward to announcing more shows in the near
future. We will continue to inform our investors as we move forward
with the business combination, alongside our continuous efforts to
take advantage of new business opportunities and to maximize our
existing business lines to benefit the Company and its shareholders
through 2023 and beyond.”
2023 Operating Results
Total revenues for the three months ended June
30, 2023 and 2022 were $8,279,632 and $9,351,458, respectively, a
decrease of $1,071,826 (11%).
Overall gross profit for the three months ended
June 30, 2023 and 2022 was $2,737,040 and $1,719,078, respectively,
an increase of $1,017,962 (59%). The overall increase is
attributable to the large increase in gross profit for the
entertainment segment for the three months ended June 30, 2023
along with a decrease in the overall cost of sales as a percentage
of overall revenues to 67% for the three months ended June 30, 2023
from 82% for the three months ended June 30, 2022.
Selling, general and administrative expenses
were $7,677,744 and $8,380,330 for the three months ended June 30,
2023 and 2022, respectively, a decrease of $702,586 (8%). The
decrease was primarily attributable to the reduction in new
sponsorships being entered into by the Company.
We reported an operating loss of $4,940,704 and
$6,661,252 for the three months ended June 30, 2023 and 2022,
respectively, an improvement of $1,720,548 (26%).
Total other income (loss) decreased to
($3,379,845) for the three months ended June 30, 2023, compared to
total other income of $5,979,065 for the three months ended June
30, 2022. The decrease in other income was largely attributable to
the gain on the loss on accrual for legal settlement of $1,792,308
and interest expenses associated with the April 5, 2023 Purchase
Agreement of $1,515,509 million, both incurred during the three
months ended June 30, 2023 as compared to incurring other income of
$5,413,618 related to the change in fair value of warrant
derivative liabilities during the three months ended June 30,
2022.
We reported a net loss attributable to common
stockholders of $8,393,304, or $3.01 per share, and $1,065,513, or
$0.44 per share, for the years three months June 30, 2023 and 2022,
respectively. No income tax provision or benefit was recorded in
either 2023 or 2022 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 a.m. EDT on
Tuesday, August
15, 2023, to discuss its second
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
#97628078 a few minutes before 11:15 a.m. Eastern on
Tuesday, August
15, 2023.
For additional news and information please visit
www.digitalally.com or follow 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: (1) our losses in recent years,
including fiscal years 2022 and 2021; (2) economic and other risks
for our business from the effects of the COVID-19 pandemic,
including the impacts on our law-enforcement and commercial
customers, suppliers and employees and on our ability to raise
capital as required; (3) our ability to increase revenues, increase
our margins and return to consistent profitability in the current
economic and competitive environment; (4) our operation in
developing markets and uncertainty as to market acceptance of our
technology and new products; (5) the availability of funding from
federal, state and local governments to facilitate the budgets of
law enforcement agencies, including the timing, amount and
restrictions on such funding; (6) our ability to deliver our new
product offerings as scheduled in 2023, and whether new products
perform as planned or advertised and whether they will help
increase our revenues; (7) whether we will be able to increase the
sales, domestically and internationally, for our products in the
future; (8) our ability to maintain or expand our share of the
market for our products in the domestic and international markets
in which we compete, including increasing our international
revenues; (9) our ability to produce our products in a
cost-effective manner; (10) competition from larger, more
established companies with far greater economic and human
resources; (11) our ability to attract and retain quality
employees; (12) risks related to dealing with governmental entities
as customers; (13) our expenditure of significant resources in
anticipation of sales due to our lengthy sales cycle and the
potential to receive no revenue in return; (14) characterization of
our market by new products and rapid technological change; (15)
that stockholders may lose all or part of their investment if we
are unable to compete in our markets and return to profitability;
(16) defects in our products that could impair our ability to sell
our products or could result in litigation and other significant
costs; (17) our dependence on key personnel; (18) our reliance on
third-party distributors and sales representatives for part of our
marketing capability; (19) our dependence on a few manufacturers
and suppliers for components of our products and our dependence on
domestic and foreign manufacturers for certain of our products;
(20) our ability to protect technology through patents and to
protect our proprietary technology and information, such as trade
secrets, through other similar means; (21) our ability to generate
more recurring cloud and service revenues; (22) risks related to
our license arrangements; (23) our revenues and operating results
may fluctuate unexpectedly from quarter to quarter; (24) sufficient
voting power by coalitions of a few of our larger stockholders,
including directors and officers, to make corporate governance
decisions that could have a significant effect on us and the other
stockholders; (25) the sale of substantial amounts of our Common
Stock that may have a depressive effect on the market price of the
outstanding shares of our Common Stock; (26) the possible issuance
of Common Stock subject to options and warrants that may dilute the
interest of stockholders; (27) our nonpayment of dividends and lack
of plans to pay dividends in the future; (28) future sale of a
substantial number of shares of our Common Stock that could depress
the trading price of our common stock, lower our value and make it
more difficult for us to raise capital; (29) our additional
securities available for issuance, which, if issued, could
adversely affect the rights of the holders of our Common Stock;
(30) our stock price is likely to be highly volatile due to a
number of factors, including a relatively limited public float;
(31) whether such technology will have a significant impact on our
revenues in the long-term; (32) whether we will be able to meet the
standards for continued listing on the Nasdaq Capital Market; (33)
indemnification of our officers and directors; and (34) risks
related to our proposed business combination, including our ability
to consummate the transactions and our ability to realize some or
all of the anticipated benefits therefrom. 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 filings with the SEC.
For Additional Information, Please
Contact:Brody J. Green, President, at (913)
814-7774,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
SHEETSJUNE 30, 2023 AND DECEMBER 31,
2022
|
|
June 30, 2023 (Unaudited) |
|
|
December 31,2022 |
|
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
2,923,881 |
|
|
$ |
3,532,199 |
|
Accounts receivable – trade, net of $176,876 allowance – June 30,
2023 and $152,736 – December 31, 2022 |
|
|
1,834,849 |
|
|
|
2,044,056 |
|
Other receivables, net of $5,000 allowance – June 30, 2023 and $0 –
December 31, 2022 (including $138,384 due from related parties –
June 30, 2023 and $138,384 – December 31, 2022, refer to Note
20) |
|
|
2,753,080 |
|
|
|
4,076,522 |
|
Inventories, net |
|
|
5,840,216 |
|
|
|
6,839,406 |
|
Prepaid expenses |
|
|
6,962,494 |
|
|
|
8,466,413 |
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
20,314,520 |
|
|
|
24,958,596 |
|
|
|
|
|
|
|
|
|
|
Property, plant, and
equipment, net |
|
|
7,604,194 |
|
|
|
7,898,686 |
|
Goodwill and other intangible
assets, net |
|
|
17,203,366 |
|
|
|
17,872,970 |
|
Operating lease right of use
assets, net |
|
|
1,124,291 |
|
|
|
782,129 |
|
Income tax receivable |
|
|
9,347 |
|
|
|
— |
|
Other assets |
|
|
7,248,205 |
|
|
|
5,155,681 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
53,503,923 |
|
|
$ |
56,668,062 |
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
12,543,492 |
|
|
$ |
9,477,355 |
|
Accrued expenses |
|
|
2,939,881 |
|
|
|
1,090,967 |
|
Current portion of operating lease obligations |
|
|
291,074 |
|
|
|
294,617 |
|
Contract liabilities – current portion |
|
|
2,905,052 |
|
|
|
2,154,874 |
|
Debt obligations, net – current portion |
|
|
1,468,857 |
|
|
|
485,373 |
|
Warrant derivative liabilities |
|
|
3,276,146 |
|
|
|
— |
|
Income taxes payable |
|
|
— |
|
|
|
8,097 |
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
23,424,502 |
|
|
|
13,511,283 |
|
|
|
|
|
|
|
|
|
|
Long-term liabilities: |
|
|
|
|
|
|
|
|
Debt obligations – long term |
|
|
158,615 |
|
|
|
442,467 |
|
Operating lease obligation – long term |
|
|
901,412 |
|
|
|
555,707 |
|
Contract liabilities – long term |
|
|
6,554,473 |
|
|
|
5,818,082 |
|
Lease Deposit |
|
|
10,445 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
31,049,447 |
|
|
|
20,327,539 |
|
|
|
|
|
|
|
|
|
|
Commitments and
contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ Equity: |
|
|
|
|
|
|
|
|
Common stock, $0.001 par value per share; 200,000,000 shares
authorized; shares issued: 2,800,752 shares issued – June 30, 2023
and 2,720,170 shares issued – December 31, 2022 |
|
|
2,801 |
|
|
|
2,721 |
|
Additional paid in capital |
|
|
128,283,343 |
|
|
|
127,869,342 |
|
Noncontrolling interest in consolidated subsidiary |
|
|
647,688 |
|
|
|
448,694 |
|
Accumulated deficit |
|
|
(106,479,356 |
) |
|
|
(91,980,234 |
) |
|
|
|
|
|
|
|
|
|
Total stockholders’ equity |
|
|
22,454,476 |
|
|
|
36,340,523 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity |
|
$ |
53,503,923 |
|
|
$ |
56,668,062 |
|
(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE
COMPANY’S QUARTERLY REPORTON FORM 10-Q FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2023 FILED WITH THE SEC ON AUGUST 14, 2023)
DIGITAL ALLY,
INC.CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONSFOR THE THREE AND SIX MONTHS
ENDEDJUNE 30, 2023 AND
2022(Unaudited)
|
|
For the three months ended June
30, |
|
|
For the six months ended June
30, |
|
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product |
|
$ |
3,077,661 |
|
|
$ |
2,210,181 |
|
|
$ |
5,531,469 |
|
|
$ |
4,620,241 |
|
Service and other |
|
|
5,201,971 |
|
|
|
7,141,276 |
|
|
|
10,445,351 |
|
|
|
15,025,997 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
|
8,279,632 |
|
|
|
9,351,457 |
|
|
|
15,976,820 |
|
|
|
19,646,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product |
|
|
2,219,515 |
|
|
|
2,070,476 |
|
|
|
4,520,616 |
|
|
|
4,892,527 |
|
Service and other |
|
|
3,323,077 |
|
|
|
5,561,903 |
|
|
|
7,174,375 |
|
|
|
11,095,015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cost of revenue |
|
|
5,542,592 |
|
|
|
7,632,379 |
|
|
|
11,694,991 |
|
|
|
15,987,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
2,737,040 |
|
|
|
1,719,078 |
|
|
|
4,281,829 |
|
|
|
3,658,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development expense |
|
|
540,276 |
|
|
|
540,222 |
|
|
|
1,475,215 |
|
|
|
1,038,222 |
|
Selling, advertising and promotional expense |
|
|
2,104,625 |
|
|
|
2,763,045 |
|
|
|
3,952,115 |
|
|
|
5,542,448 |
|
General and administrative expense |
|
|
5,032,843 |
|
|
|
5,077,063 |
|
|
|
9,968,010 |
|
|
|
10,542,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total selling, general and
administrative expenses |
|
|
7,677,744 |
|
|
|
8,380,330 |
|
|
|
15,395,340 |
|
|
|
17,123,286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
|
(4,940,704 |
) |
|
|
(6,661,252 |
) |
|
|
(11,113,511 |
) |
|
|
(13,464,590 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
55,730 |
|
|
|
32,233 |
|
|
|
71,085 |
|
|
|
103,595 |
|
Interest expense |
|
|
(1,515,509 |
) |
|
|
(8,501 |
) |
|
|
(1,521,049 |
) |
|
|
(25,511 |
) |
Other income (loss) |
|
|
25,394 |
|
|
|
(381 |
) |
|
|
50,786 |
|
|
|
43,059 |
|
Loss on accrual for legal
settlement |
|
|
(1,792,308 |
) |
|
|
— |
|
|
|
(1,792,308 |
) |
|
|
— |
|
Loss on conversion of
convertible note |
|
|
(93,386 |
) |
|
|
— |
|
|
|
(93,386 |
) |
|
|
— |
|
Change in fair value of
contingent consideration promissory notes |
|
|
— |
|
|
|
542,096 |
|
|
|
158,021 |
|
|
|
486,046 |
|
Change in fair value of
short-term investments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(84,818 |
) |
Change in fair value of
warrant derivative liabilities |
|
|
(59,766 |
) |
|
|
5,413,618 |
|
|
|
(59,766 |
) |
|
|
5,561,789 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income
(expense) |
|
|
(3,379,845 |
) |
|
|
5,979,065 |
|
|
|
(3,186,617 |
) |
|
|
6,084,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income
tax benefit |
|
|
(8,320,549 |
) |
|
|
(682,187 |
) |
|
|
(14,300,128 |
) |
|
|
(7,380,430 |
) |
Income tax benefit |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
(8,320,549 |
) |
|
|
(682,187 |
) |
|
|
(14,300,128 |
) |
|
|
(7,380,430 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (income) attributable to
noncontrolling interests of consolidated subsidiary |
|
|
(72,755 |
) |
|
|
(383,326 |
) |
|
|
(198,994 |
) |
|
|
(285,232 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to
common stockholders |
|
$ |
(8,393,304 |
) |
|
$ |
(1,065,513 |
) |
|
$ |
(14,499,122 |
) |
|
$ |
(7,665,662 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
information: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
(3.01 |
) |
|
$ |
(0.44 |
) |
|
$ |
(5.24 |
) |
|
$ |
(3.08 |
) |
Diluted |
|
$ |
(3.01 |
) |
|
$ |
(0.44 |
) |
|
$ |
(5.24 |
) |
|
$ |
(3.08 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
2,785,663 |
|
|
|
2,432,872 |
|
|
|
2,768,683 |
|
|
|
2,489,378 |
|
Diluted |
|
|
2,785,663 |
|
|
|
2,432,872 |
|
|
|
2,768,683 |
|
|
|
2,489,378 |
|
(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE
COMPANY’S QUARTERLY REPORTON FORM 10-Q FOR THE THREE AND SIX MONTHS
ENDED JUNE 30, 2023 FILED WITH THE SEC ON AUGUST 14, 2023)
Digital Ally (NASDAQ:DGLY)
過去 株価チャート
から 5 2024 まで 6 2024
Digital Ally (NASDAQ:DGLY)
過去 株価チャート
から 6 2023 まで 6 2024