Digital Ally, Inc. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
Digital Ally (DGLY) has received a delinquency notification from Nasdaq due to delayed filing of its Q3 2024 Form 10-Q. The company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports. While this notification has no immediate effect on the company's Nasdaq listing, DGLY must submit a compliance plan by January 24, 2025. If accepted, Nasdaq may grant an extension until May 19, 2025 to regain compliance. The company states it's working to file the report promptly and expects to resume normal filing schedules in 2025.
Digital Ally (DGLY) ha ricevuto una notifica di inadempienza da Nasdaq a causa del ritardo nella presentazione del suo modulo 10-Q per il terzo trimestre del 2024. L'azienda non è in conformità con la Regola di quotazione 5250(c)(1) di Nasdaq, che richiede la presentazione tempestiva dei rapporti finanziari periodici. Sebbene questa notifica non abbia effetto immediato sulla quotazione di DGLY su Nasdaq, l'azienda deve presentare un piano di conformità entro il 24 gennaio 2025. Se accettato, Nasdaq potrebbe concedere un'estensione fino al 19 maggio 2025 per ripristinare la conformità. L'azienda dichiara di essere al lavoro per presentare il rapporto prontamente e si aspetta di riprendere i normali programmi di presentazione nel 2025.
Digital Ally (DGLY) ha recibido una notificación de incumplimiento de Nasdaq debido a la presentación tardía de su Formulario 10-Q del tercer trimestre de 2024. La empresa no cumple con la Regla de listado 5250(c)(1) de Nasdaq, que requiere la presentación oportuna de informes financieros periódicos. Aunque esta notificación no tiene efecto inmediato en la cotización de la empresa en Nasdaq, DGLY debe presentar un plan de cumplimiento antes del 24 de enero de 2025. Si es aceptado, Nasdaq puede conceder una extensión hasta el 19 de mayo de 2025 para recuperar la conformidad. La empresa afirma que está trabajando para presentar el informe de manera oportuna y espera reanudar los horarios de presentación normales en 2025.
디지털 얼라이 (DGLY)는 2024년 3분기 10-Q 양식 제출이 지연됨에 따라 나스닥으로부터 위반 통지를 받았습니다. 이 회사는 정기적인 재무 보고서를 적시에 제출해야 한다는 나스닥 상장 규정 5250(c)(1)에 부합하지 않습니다. 이 통지는 회사의 나스닥 상장에 즉각적인 영향을 미치지는 않지만, DGLY는 2025년 1월 24일까지 준수 계획을 제출해야 합니다. 승인될 경우, 나스닥은 준수를 회복하기 위해 2025년 5월 19일까지 연장을 허용할 수 있습니다. 이 회사는 신속하게 보고서를 제출하기 위해 노력하고 있으며, 2025년에 정상적인 제출 일정을 재개할 것으로 예상하고 있습니다.
Digital Ally (DGLY) a reçu une notification de manquement de Nasdaq en raison du retard dans le dépôt de son formulaire 10-Q pour le troisième trimestre 2024. L'entreprise ne respecte pas la règle de cotation 5250(c)(1) de Nasdaq, qui exige le dépôt en temps voulu de rapports financiers périodiques. Bien que cette notification n'ait aucun effet immédiat sur la cotation de DGLY auprès de Nasdaq, l'entreprise doit soumettre un plan de conformité d'ici le 24 janvier 2025. Si accepté, Nasdaq pourrait accorder une extension jusqu'au 19 mai 2025 pour retrouver la conformité. L'entreprise déclare qu'elle travaille à soumettre le rapport rapidement et s'attend à reprendre les horaires de dépôt normaux en 2025.
Digital Ally (DGLY) hat von Nasdaq eine Benachrichtigung über Nichteinhaltung erhalten, da die Einreichung des Q3 2024 Form 10-Q verspätet erfolgt ist. Das Unternehmen erfüllt nicht die Nasdaq Listing Regel 5250(c)(1), die die rechtzeitige Einreichung von regelmäßigen Finanzberichten vorschreibt. Obwohl diese Benachrichtigung keine unmittelbaren Auswirkungen auf die Nasdaq-Listung des Unternehmens hat, muss DGLY bis zum 24. Januar 2025 einen Compliance-Plan einreichen. Wenn dieser akzeptiert wird, kann Nasdaq eine Verlängerung bis zum 19. Mai 2025 gewähren, um die Einhaltung wiederherzustellen. Das Unternehmen erklärt, dass es daran arbeitet, den Bericht umgehend einzureichen, und erwartet, im Jahr 2025 zu den normalen Einreichungsplänen zurückzukehren.
- No immediate impact on Nasdaq listing status
- Potential 180-day extension period available if compliance plan is accepted
- Non-compliance with Nasdaq listing requirements
- Delayed filing of Q3 2024 financial report
- Risk of potential delisting if compliance is not achieved
Insights
This Nasdaq compliance issue raises significant red flags about DGLY's financial reporting capabilities and internal controls. Delayed quarterly filings often indicate deeper operational or accounting challenges that require scrutiny. With a micro-cap valuation of just
The 180-day compliance window provides some breathing room, but the company's vague commitment to "return to normal filing cadence in 2025" without specific reasons for the delay is concerning. Missing SEC filing deadlines can signal potential issues ranging from accounting irregularities to resource constraints. Investors should closely monitor the situation, as delisting would severely impact liquidity and institutional investment potential.
Lenexa, KS, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (Nasdaq: DGLY) (the “Company”) today announced it received a delinquency notification letter from Nasdaq on November 25, 2024, which indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the delayed filing of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the “Quarterly Report”). The Nasdaq Listing Rule requires listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the “SEC”). This notification has no immediate effect on the listing of the Company’s securities on Nasdaq.
Nasdaq has informed the Company that it must submit a plan to regain compliance with respect to the filing requirement by January 24, 2025. If the plan is accepted, Nasdaq can grant an exception of up to 180 calendar dates from the due date of the initial delinquent filing for the period ended September 30, 2024, or until May 19, 2025, to regain compliance.
The Company is working diligently to file the Quarterly Report as promptly as practical, and expects to return to a normal filing cadence in 2025.
About Digital Ally
Digital Ally Companies (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
Forward-Looking Statements
Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today’s date. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company’s periodic filings with the SEC, including, without limitation, the risks described in the Company’s 2023 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly periods ended March 31, 2024 and June 30, 2024 under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information.
Contact Information
Stanton Ross, CEO
Tom Heckman, CFO
Digital Ally, Inc.
913-814-7774
info@digitalallyinc.com
FAQ
Why did Digital Ally (DGLY) receive a Nasdaq deficiency notice?
What is the deadline for Digital Ally (DGLY) to submit its compliance plan to Nasdaq?
How long does Digital Ally (DGLY) have to regain compliance with Nasdaq?
Will Digital Ally (DGLY) be immediately delisted from Nasdaq?
