DIGITAL ALLY ANNOUNCES UPCOMING PARTICIPATION AT INVESTOR CONFERENCES
Digital Ally (NASDAQ: DGLY) announced participation in two upcoming investor conferences: the 2023 Aegis Virtual Conference from May 2-4 and the 2023 EF Hutton Global Conference from May 10-11 in New York. The company is pursuing a separation into two publicly-traded entities to enhance growth and shareholder value. Post-separation, Digital Ally will focus on video technology for law enforcement and healthcare management, while Kustom Entertainment will operate in ticketing and event production. Leadership will be maintained by Brody J. Green and Stanton E. Ross.
- Planned separation into two independent companies may optimize investment and capital allocation.
- Digital Ally will continue as a leader in video solution technology and revenue cycle management.
- No specific financial metrics or projections provided to assess impact of the separation.
- Risks associated with the separation include potential inability to achieve planned benefits.
KANSAS CITY, March 15, 2023 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), today announced that the Company will be presenting at the following investor conferences in the coming months:
2023 Inaugural EF Hutton Global Conference
Date: May 10th – 11th, 2023
Location: New York
2023 Aegis Virtual Conference
Date: May 2nd – 4th, 2023
Location: New York / Virtual
The Company is excited to discuss its plans surrounding the pursuit of a separation into two independent, publicly-traded companies to optimize investment and capital allocation, accelerate growth, and unlock shareholder value. Upon completion, the Company’s stockholders will own equity 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 Company plans to have Brody J. Green and Stanton E. Ross in attendance, who will each lead Digital Ally, Inc. and Kustom Entertainment, Inc., respectively, upon completion of the discussed separation.
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 spin-off company’s (“SpinCo”) portfolio composition and their relationship following the business separation; the anticipated timing, structure, benefits, and tax treatment of the spin-off; benefits and synergies of the spin-off; 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 spin-off will be completed, that Digital Ally’s Board of Directors will continue to pursue the spin-off (even if there are no impediments to completion), that Digital Ally will be able to separate its businesses or that the spin-off 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.
Readers should carefully review Digital Ally’s financial statements and the notes thereto, as well as the section entitled “Risk Factors” in Item 1A of Digital Ally’s Annual Report on Form 10-K for the year ended December 31, 2021 and the section entitled “Risk Factors Related to the Holding Company Proposal” in the Digital Ally’s Registration Statement and the other documents Digital Ally and its subsidiaries file from time to time with the SEC. Readers should also carefully review the “Risk Factors” section of the registration statement relating to the business separation, which is expected to be filed by SpinCo with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
These forward-looking statements reflect management’s judgment as of this date, and Digital Ally assumes no (and disclaims any) obligation to revise or update them to reflect future events or circumstances.
We make no representations or warranties as to the accuracy of any projections, statements or information contained in this document. It is understood and agreed that any such projections, targets, statements and information are not to be viewed as facts and are subject to significant business, financial, economic, operating, competitive and other risks, uncertainties and contingencies many of which are beyond our control. Furthermore, there are no assurance can be given that any particular financial projections ranges, or targets will be realized, that actual results may differ from projected results and that such differences may be material. While all financial projections, estimates and targets are necessarily speculative, we believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The inclusion of financial projections, estimates and targets in this press release should not be regarded as an indication that we or our representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events.
Contact Information
Brody Green, President
Stanton Ross, CEO
Tom Heckman, CFO
Digital Ally, Inc.
913-814-7774
info@digitalallyinc.com
FAQ
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